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 Type(s):
Single Family
Last Updated
6/5/2025
Tract
Caruth Terrace
Year Built
1959
Garage Spaces
2.0
County
Dallas
SCHOOLS
School District
Dallas ISD
Elementary School
Mockingbird
Jr. High School
Long
High School
Woodrow Wilson
Additional Details
AIR
Central Air
AIR CONDITIONING
Yes
APPLIANCES
Gas Range, Refrigerator
CONSTRUCTION
Brick
FIREPLACE
Yes
GARAGE
Yes
HEAT
Central
INTERIOR
Other
LOT
9453 sq ft
PARKING
Garage, Attached
PRIMARY ON MAIN
Yes
SEWER
Public Sewer
STORIES
1
STYLE
Traditional
SUBDIVISION
Caruth Terrace
TAXES
9455
WATER
Public
Location
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Listing provided by Joe Iley, Mission Real Estate Group
You may not reproduce or redistribute this data, it is for viewing purposes only. This data is deemed reliable, but is not guaranteed accurate by the MLS or NTREIS. This data was last updated on: 6/13/25 4:58 PM PDT
