Looking for a great investment opportunity in real estate? Discover this Texas fixer upper priced at just $56,500!
Spanning over 1,686 square feet, this 1915 three-bedroom, two-bath Texas fixer upper is nestled at 917 W Angeline St, Groesbeck on a generous half-acre lot. With a new roof and leveled foundation already completed, prospective buyers can shift their focus to customization and renovations that will enhance both personal enjoyment and market value.
Renovation Opportunities
The major structural elements are in place, allowing investors and homeowners to unleash their creativity. Imagine transforming the spacious interiors—preserved original features like hardwood floors and bullseye molding provide a charming backdrop for modern updates. Whether you envision a cozy family home or a stunning rental property, the flexibility of this layout accommodates numerous ideas for affordable housing in Groesbeck.
### Key Features
- New Roof: Achieved recently to ensure a dry and safe environment.
- Leveled Foundation: Provides a solid base, eliminating concerns of structural instability.
- Spacious Lot: With half an acre to play with, you can expand, add outdoor living spaces, or create beautiful landscaping.
- Historic Charm: Original details contribute to a unique aesthetic, perfect for modern restoration.
Location Advantages
Groesbeck, Texas, presents numerous benefits for potential owners. With a population hovering around 4,310, this small yet vibrant community offers a low cost of living, making it an attractive option for families and investors alike. Here’s what to expect
- Affordability: Groesbeck’s living costs are well below the national average, making homeownership feasible for many.
- Community Spirit: Residents enjoy a warm, friendly environment—ideal for families and individuals seeking connection.
- Safety: A low crime rate contributes to peace of mind for residents.
Investment Potential
Real estate experts recognize Groesbeck as a promising investment property in Texas. The local housing market favors affordability, presenting various options under $60,000. This three-bedroom home stands out in this category, as the cost to own here is remarkably low, while potential for property value increase is high through strategic renovations.
### Pros of Investing in Groesbeck
1. Healthy Housing Market: An increase in nearby amenities can drive property values up.
2. Future Growth: As cities expand towards Groesbeck, property investments will likely grow in value.
3. Lower Competition: Fewer buyers compete in this segment, allowing for potential negotiation opportunities when purchasing properties.
Considerations
While Groesbeck has numerous advantages, exploring the city’s challenges is also essential. Here are a few aspects to consider
- Limited Amenities: Those accustomed to urban conveniences might find Groesbeck lacking in entertainment options.
- Job Market: Employment opportunities within the city are limited, pushing workers to seek jobs in nearby towns.
- Educational Concerns: Families with school-age children should be aware of Groesbeck High School’s rankings in the bottom 50% of Texas schools, which could impact educational choices.
- Weather Variability: With hot summers and colder winters, the weather may not appeal to everyone.
- Cultural Diversity: A less diverse population could limit cultural experiences compared to more cosmopolitan areas.
Finding a balance between pros and cons can guide potential buyers. For families wishing to establish roots or retirees looking for tranquility, the affordable housing in Groesbeck provides a perfect starting point.
Transform or Flip
Real estate investors face valuable decisions when acquiring a fixer upper. Transforming the living space is one option—from modernizing bathrooms to expanding the kitchen, careful planning can enhance livability and resale value.
Alternatively, the home is also suitable for flipping. Investors can implement renovations and modifications to attract buyers in a burgeoning market. With the right approaches, this property offers promise not just as a home, but as a financial opportunity.
### Steps to Take
1. Initial Investigation: Visit the property to gauge what renovations are necessary.
2. Budget Planning: Create a budget to estimate costs for renovations and improvements.
3. Consult Experts: Connect with local real estate agents familiar with Groesbeck's market.
4. Licensing and Permits: Research necessary permits for any major renovations that will be required.
5. Market Investigation: Study comparable homes in the area to understand market trends and pricing strategies.
Last Words
This Texas fixer upper presents incredible potential for those willing to invest time and resources into renovations. With a low entry cost of $56,500, buyers can unlock the full potential of a property that could provide a comfortable living space or profitable returns.
As you explore properties within the real estate Groesbeck market, consider taking action on this unique opportunity. Partnering with a reputable realtor like Sadler Land and Realty can help streamline the process and maximize your investments in this charming and affordable community.
If you’re interested in exploring this property, reach out directly to the brokerage for further details. Your investment journey could begin with this very three-bedroom hidden gem!
Contact: Independent verification of details and status is recommended, and prospective buyers should ensure they have a licensed agent to assist them in the process.