Please evaluate this DFW possibility
Hello,
Asking: $135K
ARV: $185K
EDIT: Reviewing comps, might be closer to $200K.
DOM: 30
Seller has several active offers he/she is considering. At least one contract has been canceled because of the inspection, which I have reviewed. I am looking at the house today and might make an offer (if we got it, we would flip it).
Needs: New roof; possible foundation work (needs engineers report); possible plumbing work (old copper pipes); possible HVAC (has gas central heat and window ACs, would need central air, but seller may be in the process of updating) complete indoor rehab including floors; counters; light fixtures, refinishing cabinets; painting or otherwise fixing wood paneling.
I am estimating the rehab at $25,000 at the low end and $55,000 at the high end (if it needs a full set of foundation piers, etc.)
DFW is a very tight market these days. 70% might not be realistic.
What would you offer?