$400K home sale sale to sell for $700,000 in Texas

A home sale in suburban Dallas could fetch a hefty sum, with a new appraisal estimating it could sell for more than $700 million.The sale of a one-bedroom home at 5500 W. Stateline Road in the Dallas-Fort Worth metro area is expected to be the biggest in the city in 2017, according to the Dallas…

Published by admin inSeptember 3, 2021
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A home sale in suburban Dallas could fetch a hefty sum, with a new appraisal estimating it could sell for more than $700 million.

The sale of a one-bedroom home at 5500 W. Stateline Road in the Dallas-Fort Worth metro area is expected to be the biggest in the city in 2017, according to the Dallas Morning News.

The property is valued at $3.5 million, the newspaper reported, citing the appraisal by Keller Williams.

The home, located on a 2.9-acre lot, was built in 2013 and sold last year for $400,000, the paper reported.

The house is valued with a five-year mortgage of $749,000.

The seller was a man named James D. Miller, according the paper.

The home’s previous owner was also a Miller, who had also purchased it in 2013 for $350,000 and sold it for $300,000 last year.

The Keller Williams appraisal also found the home was worth more than a million in 2012, the report said.

It did not specify how much the buyer paid for the home, but the appraisal noted that the sale price had been increased from $1.8 million to $2.8 milion.

The purchase of the home is one of the largest in the Texas metro area.

The Dallas area’s average home price is $9.7 million.

It is the second-most expensive metro area in the country.

The Dallas area has the nation’s fifth-highest unemployment rate at 11.5 percent, according a recent study from the National Association of Realtors.

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