Need Input for Wholesale Deal for city of Vallejo in Northern CA

[Nixon Vayupak]

Just locked my first out of town property in the city of Vallejo up in Northern California, which is an unfamiliar territory for me.  I usually do deals here in Southern California and able to pass some stuff to my local rehabbers and flippers without any problems. I never ask any absurd numbers, my goal is to make a winning solution for both parties. But for this deal I got up in Nor Cal seems like my numbers are off so I need so input.  So anyone if you can, please drill and correct me so I can make this deal happen to be a win win situation for me and anyone interested by the bay area.

Vallejo house info

1. SFR 4 bedrooms and 2 baths
2. 1600+ sq ft
3. 8700+ lot sq ft
4. Built in 1983
5. HVAC
6. Attached two car space garage
7. Fireplace

High Overview Breakdown

1. 285k ARV
2. 30k to 35K estimated repairs
3. 8% Closing Costs on Sale%
4. 40% annualized
5. 3 months to complete (This is a very light fixer)
6. 10% profit for rehab is 23K
7. 22k closing costs on sale
8. 203K wholesale price includes 5k fee.

**NOTES**

1. Owner is willing to do a "Subject To" for a few month (This can help ease HML)
2. House on same street similar design and specs sold for 295K
3. Rental property in the area for this size is going on average 1700 a month.