Potential first deal math. ( without a pterodactyl in the attic)

[Chris Marshall]

So I have my sights set on a single family home that from my initial looks on the MLS it really just needs some updating. The numbers on the MLS lay out like this. 1054 sqft home, listed for $64,500 about 61.20/sqft. Average cost for a home in this city is 85/sqft. However on the assessors site, which the appraisal was updated last month, I can see that the land is worth $6000 home worth $35100, and a small garage on the property is worth $2900 for a total of $44000. So it's 41.75/sqft. They are asking for 146% more than what it is worth. 1) is that reasonable on their part? 2) assuming nothing crazy happens would it be feasible to offer 45/sqft or $47430, then put no more than $10000 into the property and put it back on the market for $64820 to make about a $7000 profit? What do you think (obviously since you can't see the property just assume it will be an average flip without the foundation crumbling or a pterodactyl living in the attic)