$200k 3bd 2bath, $4-5k reno. Good deal?

[Leyha Williams]

I’ve submitted an offer of $175K for a 3-bed, 2-bath, 2-car garage home with 1,632 SF on a 5,199 SF lot. It’s listed at $200K and being sold as-is, needing new flooring in all bedrooms, as well as a fridge and washer/dryer. My plan is to live in it for 4-6 months while securing a tenant, then move out.

Estimated monthly costs range from $1,600 to $1,800, while similar properties rent for $1,800 to $1,900. Given these numbers, is this a good investment, or would it be better to wait for a comparable property with fewer required renovations? What factors might I be overlooking? Any other thoughts?