How much profit?

[Ryan Whitelaw]

Hey Guys & Gals. I'm actually a real estate appraiser working on an arbitration assignment. The subject property is a condo in a desirable costal market that was damaged due to a pipe bursting in one of the walls. I'm solid on the ARV at $1,100,000. Total costs to repair the damaged area is around $75,000. Besides the damage from the busted pipe, the unit shows well and the property should lease/sell quickly once fixed up. Repairs would probably take 3 months to complete.

Question:  How much profit would you back out to get to an "As Is" value?