Memphis REI: Deal or No Deal

[Nick Moore]

Hey guys!

My wife and I are looking to make some actionable REI moves in a few months and are practicing identifying deals in our local area (Memphis, TN). We wanted to get some additional perspective on one particular deal due to our confusion as to why it's been on Zillow for so long? (Link at the bottom)

1) 4 bed 2 bath Listed at 89.5k

2) Flipped/BRRRd Houses at same sq ft have almost doubled in value in that area - so potential ARV 130-170? (No pics or anything, so just going off of neighborhood and nearby comparisons)

3) Appreciation looks promising - A block away from a huge urban development of an old sears distribution center crosstownconcourse.com

4) Reno was said to be around 50k

Is it not necessarily a bad deal, but just a lot of up-front capital for the Reno? Couldn't it still be pulled out of the refi if you were to do a BRRRR?

https://www.zillow.com/homedetails/322-N-Claybrook-St-Memphis-TN-38104/42130798_zpid/