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$225,000

Beds
5
Baths
3.0
sq ft
815

10525 Fairfax St, Houston, TX 77029

10525 Fairfax St

Houston, TX 77029

  • 31 days on market
Great opportunity for an investment property with THREE units to generate residual income. Property being sold AS-IS; seller will not make any repairs. The main house is a 2 bed/1 bath with utility room inside and attached 1-car garage. There are two garage apartments: 10525 1/2 A - which is upstairs with 2 bed/1 bath and 10525 1/2 B which is downstairs with 1 bed/1 bath. There is a shared utility room for garage units in garage. All three units are TENANT OCCUPIED with month-to-month lease generating appx $3000/month in rents. All tenants would like to remain in property - but will be at discretion of new owner. All units have separate electricity meter. Landlord currently pays water and gas for all three units. The property has plenty of parking in driveway and in the back. All units could use some TLC and updating. Call for more information. Schedule your tour/showing today. Hablo español! Llame para mas informacion.

Details

Property type

Single Family Residence

Est. home value

$206,328

Lot size

6,499 sq ft

Price per sq ft

$277

Year built

1950

Annual property taxes

$5,368

Price History

06/04/2024
Houston

Houston #64455669

Listed
$225,000
08/27/2021
Houston

Houston #6778535

Removed

Schools & Community

Elementary school: 

JACINTO CITY ELEMENTARY SCHOOL

Middle school: 

GALENA PARK MIDDLE SCHOOL

High school: 

GALENA PARK HIGH SCHOOL

School district: 

Galena Park

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$13,760
Asking price
$225,000
Closing costs (~8% of asking)
-$18,000
Est. remaining loan balance
-$193,240
Cash to seller
$13,760

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

J S C Federal Credit Union

Loan start date

July 2021

Original loan amount

$206,250

Est. remaining balance

$193,240

Interest rate

2.96%

Loan type

New Conventional, 30 year

Seller

Jorge Velasco

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 07/05/2024 at 9:30 PM

Listing updated: 06/07/2024 at 4:04 AM

Listed by: Rita Sotelo, REALM Real Estate Professionals - North Houston Phone #: (281) 377-7300

MLS: Houston #64455669

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