6269 Saratoga Circle
Dallas, TX 75214
1852 sqft | 3 beds | 2 baths | 0.22 acres | #20960817
Description
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 projects 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
Property Details
- Property SubtypeSingle Family Residence
- Utility FeaturesCity Sewer, City Water
- Exterior MaterialsCovered Patio/Porch
- SubdivisionCaruth Terrace
- StyleTraditional
- Elementary SchoolMockingbird
- School DistrictDallas ISD
- Property TypePurchase
- MLS #20960817
- MLS #20960817
- Square Feet1852.00
- Acres0.2170
- CountyDallas
- Cost657000
- InteriorOther
- Year Built1959
- FoundationSlab
- Fireplaces1
- Bedrooms3
- Bathrooms2
- Full Baths2
- Parking Spaces2
Location
Legal
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Last Updated: . Source: NTREIS
Listing Courtesy
Listing Agent: Joe Iley (#0554437), Phone: (210) 690-0050
Listing Office: Mission Real Estate Group (#MREG01C)
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