It can be challenging to find updated investment properties in Dallas that don’t need a lot of rehab, but this Carioca Drive diamond in the rough is ready to go and priced in the 100s.
Featuring three bedrooms and one and one-half bathrooms, this one-story home has “no known structural or other major issues,” according to broker Calvin Graham with Graham-Rutledge.
“If true investor projects are harder to come by, do not blink before you run the numbers on this one,” Graham added.
The traditional home, built in 1960, needs some cosmetic updates but otherwise is ready for a quick flip. Fingers crossed that you still have those home improvement shows you DVR’d on Labor Day weekend.
Won’t you be my neighbor?
Carioca Drive sits in Dallas’ Singing Hills neighborhood, which gets a B for diversity, commute, jobs, and cost of living on niche.com. However, the same spot garnered C ratings in crime and safety, housing, nightlife, and public schools. The population of the area is about 5,000 and most residents own their homes.
The Carioca Drive property, a 1,229-square-foot home, should net a big return on investment for the owner, Graham said. It’s listed at $129,000.
The neighborhood is close to Interstates 20, 35, and 45. University of North Texas Dallas, the fastest-growing public university in Texas, is right up the street.
Too cool for school
As the youngsters prepare to enroll at UNT Dallas, they’ll first have to traverse the Dallas ISD hallways of Thornton Elementary, Storey Middle School, or South Oak Cliff High School.
If you’re judging by Texas Education Agency ratings, South Oak Cliff High met state standards, with three distinctions. Boude Storey Middle School met all standards but only earned one distinction designation, in academic growth. Thornton Elementary met state standard, with five distinctions out of six possible.
Dallas ISD earned an overall B rating with a C in student achievement, a B in school progress, and a C in closing the gaps.