Undecided if we should Sale or Lease 3 bedroom 1 bath house in SOCO - 78704 near Mollie Dawson School/St. Edwards University.

Asked by david cast, Austin, TX Fri May 16, 2014

My sister is now thinking about renting our deceased mothers house. I personally would like to sell it. The monthly taxes alone are $651.75 -($7,821.00 annually)
If we were to update the kitchen, bathroom and install wood laminate/ceramic tile flooring throughout what would be the max rent that this property could bring in?

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Russell Spillers’ answer
Russell Spil…, Agent, Austin, TX
Fri May 30, 2014
Hi David or Danny,
First off let me say I am sorry to hear about your recent loss. I know that it can be overwhelming trying to determine which upgrades will bring you the maximum AFTER REPAIR VALUE. That is a term used in the investor community to represent what the expected sales prices of the home is after repairs have been completed. It would seem you already have plenty of things to handle so this should not have to be another burden on you.
I currently have 3 properties I am renovating (rehabbing) in the Austin area so I have a very good idea of what sells and what doesn't and how to get the best value. I would be more than happy to help you with your situation. I also have the ability to buy your home as-is for cash. I can close in less than a week in most cases, and it really doesn't matter what condition it is in. I have 14 other ways to sell your home other than on the retail market, and many of them can get you MORE money than selling it retail, EVEN IF IT NEEDS WORK!
Feel free to contact me and I will be glad to set a meeting so that we can discuss this in further detail. Also feel free to call or email me. I am available 24/7.

Russell Spillers
0 votes
Carrie Hiner, Agent, Austin, TX
Fri May 16, 2014
Happy Friday Danny,
Hold or Sell? Good question and something to consider. With so many people moving to Austin, housing inventory is low. This has created a good sellers market for people like you with property. Similarly, its kept rental occupancy around 95%. Either way, you can sell or lease. Leases in 78704 can easily bring in $2K a month. I live in South Austin myself and would be happy to discuss sales prices and leasing. Call or email. Have a great weekend.

Carrie Hiner
0 votes
Kevin Folsom, Agent, Houston, TX
Fri May 16, 2014
Generally speaking Soco properties bring a very good price in this sellers market. In order to give you an accurate price for the home more information would be needed such as sqft, location etc. I would be happy to get you a Comparative Market Analysis of your home to give you a more accurate number. Look forward to your response!
Kevin Folsom
0 votes
Its a 3 bedroom 1 bath double carport home with 1025 sq ft . Its located in the "South Park " Subdivision which is located off South Congress & Havana, just minutes from downtown, Barton Springs, Zilker Park,& Auditorium Shores.
There is quick access to South Congress and IH35 and the South Congress Entertainment District. It is also within walking distance to Mollie Dawson Elementary School & ST. Edwards University. The home was built in 1957 and the lot size is 9,858 (nice size back yard with pecan trees).
Flag Fri May 16, 2014
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