Walk Wren Hollow Thursday: open at $145K, stop near $156K.
Luther, here is Wren Hollow in sixty seconds.
It is a 1961 three-two in Oak Cliff, 1,420 square feet, empty since spring. An affidavit of heirship was recorded on August 28 naming three heirs. Two want to sell now; the third will sign if the number is fair. They live out of town, the yard is already cited, and two years of taxes, about $9,100, come off the top at closing. There is no mortgage.
Four sales within half a mile put it at $264K fixed up, in a range of $251K to $276K. From their photos the roof and kitchen are the work: about $42K all in. They are hoping for $190K. At a 75% rule, which is our assumption until you confirm it, the ceiling is $156K as a flip. Open at $145K. As a rental it holds at up to $163K.
What I would do: walk it Thursday at 10:00 with all three heirs on the phone, bring a written offer at $150K with a close date they choose, and tell them plainly they can list it instead. If repairs run to $50K, $150K still clears $42K.
Watch for: the third heir. Get all three signatures on the contract, and confirm identity at the walk-through.