Can someone help me evaluate this deal?

[John Spina jr]

Hey everyone I'm trying to evaluate my first deal. Here is the information on it. All info was pulled from county records.

Staten Island, New York. SINGLE FAMILY HOME. 3 Bedroom 2 Bathroom 1 full 1 half

 Lot Sqft 2,500. Finished Sqft. 1,152. Finished Basement.  Lot is 25 by 100.

Estimated market value is $370,000 from year 16/17. Future market value is $414,00 year 17/18. House is paid off theres 100% equity.

property tax-$4720 

Built in 1965.

Estimated Rehab Cost- $20,000.

-Im not sure if this is a good deal or what the best approach is. I cannot afford to pay the monthly payment to owner occupy, nor can i afford the 20% down payment as an investment property. Is there anything I could offer the seller or is just a bad deal for me? Are there any tools i could use to approach this situation?

If I'm missing anything please let me know.    Thanks

[Ken P.]

Good deal for what purpose? Do you want to flip it? To rent it? What are the comps for sales price? Where did you get your protected future value? Remember taxes are based on current local taxing authority-set value, which may have nothing to do with the actual current value. Taxes will reset to the actual price you paid for the house once you buy it.

If you're renting it out, you'd likely need to get over $3000/month to see any green after mortgage, taxes, insurance, maintenance plus reserves, and vacancy, and a whole year of profits would be wiped out by a month of vacancy. If you tell me places like this rent for $5000/mo it might be more interesting.