4913 Panola Ave
Fort Worth, TX 76103
Price: $79,000 (was $95,000)
This property has 2 single family homes on the same lot and are located in the Horne J L subdivision on a HUGE 0.45 acre lot! This will make a great buy & hold opportunity for this area of Fort Worth! The main house is a 4 bedroom with 1 full and 1 half bath while retaining a 1 car garage, the large back porch was enclosed to add the additional 2 bedrooms and 1/2 bath. The back house was originally a 2 car garage that was partially converted to living space with electric and plumbing and has 1 bedroom and is plumbed for 1 bath. **UPDATE** There are beautiful hardwood floors underneath the 80's carpet!
The main house has a 1 year old roof and will need the HVAC replaced along with some foundation repair and a cosmetic update. The back house will need to be finished out with drywall, install toilet and bath tub, install some kitchen cabinets, new windows will need to be cut out and installed and optionally seal up the garage door on the side.
We primarily looked at the value of the main house, the comparable sales show this house could sell for upwards of $152,000 and then we gave another $30,000 of value to the back house for a total of $182,000 after repairs are complete. The rent comps for the main house come in at **UPDATE** $1,400/mo (previously $1,200) and the 1/1 in back should bring an additional $400/mo for a total of **UPDATE** $1,800/mo (previously $1,600)!
Buyer to do their own due diligence. Buyer to pay all closing costs. A non-refundable $5,000 deposit will be required unless other arrangements are agreed.
Contact us today for showing instructions.