Turnkey 4/1 in decent Milwaukee neighborhood

[Mark Shaffar]

I have a turnkey (buy-fix-hold) project available to a cash investor.

This is a 4/1 at 4376 N 65th Milwaukee, WI

Price $68,000

Rehab $5,000

Costs to Carry $1,000

Closing Costs $2,000

Investor All in $76,000

ARV $80,000

rent $1,125

Taxes $175

Management $90 (8%)

Vacancy $56 (5%)

Reserve $56 (5%)

net $747

Unfinanced cash ROI 11.8%

[Mehran K.]

This property is listed on the MLS for $59.9k and appears ready for a retail buyer.

MLS Listing

How can the ARV be $80k? What rehab works needs to be done that will cost $5k? It appears I can be all in for $59.9k and I'm just wondering because this doesn't add up for me.