Project Description

Purchase Price


Fannin Terrace Property Midland, Tx 79705

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Fannin Terrace Property Midland, Tx

 Purchase Price: $265,000

Property Description

Big house with Potentially Great Curb Appeal in a very nice Neighborhood, Fannin Terrace!

A SERIOUS INVESTOR can take This 2,625 Sq. Ft. home in one of the nicest neighborhoods in Midland,  into the 21st Century with cosmetic upgrades throughout the house!! There is plenty of room in this home to maximize the end value by adding a fourth bedroom and a half bathroom!! This house has limited access and will not be available to just anyone, SERIOUS INVESTORS ONLY!!

The Numbers
Estimated After-Repair-Value (ARV) $445,000
Purchase Price ($265,000)
Estimated Repairs ($70,000)
Gross Profit Potential $110,000
Rent Estimate $2500
Estimated Cap Rate 12%
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Property Photos

Facts and Features
Type Single Family Residence Garage   Attached 483 Sq. Ft.
Year Built 1962 Roof Type Composition
Home Square Feet 2,625 Foundation Type Slab
Lot Size 0.257 acre Exterior Material Brick
Bedrooms 3* Number of Levels 1
Bathrooms 2.5 *Room to make 4 Bed / 2.5 Bath
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Comparable Homes – Sold Square Feet Sold Price Price Per SF Sold Date
2516 Seaboard Ave
2,484 $472,500 $191.30 04/28/21
2815 Frontier Ave 2,939 $428,000 $145.63 06/18/21
2502 Shandon Ave ( Minimal updates) 2,534 $399,000 $157.46 9/17/20
2805 W Dengar Ave. (not updated) 2,581 367,500 142.39 6/22/21
Comparable Homes – ACTIVE UNDER CONTRACT Square Feet List Price Price Per SF Expected Closing Date
2610 Frontier dr.
2,315 $415,000 $179.27 09/02/21
2601 W Shandon  2,530 $410,000 $162.06 08/27/21
2503 Stanolind  2,777 $429,000 $154.48 Opt exp. 8/10/21
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DISCLAIMER: House is being sold as-is, and buyer is to pay all closing costs. No representations written or oral are made concerning the property above. Price based on a cash or hard money offer and is net to seller, 7-10 day close of escrow is required. Buyers to do their own independent due diligence and take any necessary precautions to verify any and all material facts. Investidom and its members/representatives make no guarantees concerning property condition, value, characteristics or financial benefits. Investidom may or may not currently own the properties being marketed and may be marketing the equitable interest however great or small in the given properties (without any warranty or representation other than it is the buyer under the subject contract). Opinion of value is given as courtesy. Our opinion is just an opinion and seller makes no guarantees or warranties, express or implied, as to the value or condition of the home.