How much does a new roof effect the ARV on a SFH
I am in the process of doing a BRRRR on a SFH. The roof is relatively new (within 3 years old), but looks bad. Should I purchase a new roof for $6500 and hope that increases the ARV?
My expected numbers on the SFH (without the new roof) are below:
Purchase Price: $155,000 cash
ARV: $300,000
75%: $225,000
REHAB: $70,000
Should I add the new roof for the overall aesthetic of the home but more importantly will this raise the ARV to help accommodate the extra rehab expense?
Thanks!