Listing Courtesy of: Joe Iley - Mission Real Estate Group
$657,000
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6269 Saratoga Circle Dallas, TX 75214
Single Family
Residence
3
Beds
2
Baths
1,852
Sq. Ft.
0.22
Acre
Lot
Property Activity
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1850sf 3-2-2 9450sf lot BRING YOUR VISION!! Exceptional opportunity in sought-after Caruth Terrace neighborhood within the Mockingbird Elementary School district. Remodel began, including LR-DN-DEN load bearing walls removed; Windows replaced; floors sanded. Multiple remodel-new build project...s currently underway in neighborhood. Selling AS-IS to visionary buyer with 3 potential finish-out opportunities: 1) Remodel as-is plus add utility room to garage (+120sf) plus finish-out detached bonus room in backyard (150sf). a. $657k purchase b. $150k remodel costs (per contractor estimate) c. $807k total basis d. $880k Value at market rate at $425 per sf with 2000sf + 150sf bonus room e. Net equity: $73k 2) #1 above plus add 2nd floor of 1,000sf (see 6278 Saratoga Cir example) a. $807k cost from option #1 b. $200k 2nd floor addition @ $200 per sf c. $1007k total basis d. $1.3mm Value @$425 per sf of 3,000sf e. Net equity: $293k 3) Teardown and build new (see 6254 Sudbury Ln example) a. $657k purchase b. $850k build cost @$200per sf; 4250sf home at 9450sf lot x 45 percent coverage c. $1.507mm total basis d. $1.8mm Value @$425 per sf of 4250sf e. Net equity: $293k
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MLS#
20960817
Property Type
Single Family
Bedrooms
3
Bathrooms
2 Full
Year Built
1959
Square Feet
1,852
sq. ft
Lot Size
0.22
Sewer
City Sewer
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