Possible Great Deal in Huntsville, AL?

[Shelby Ashley]

Today I came across what looks to be like a great deal. I should note that this is a HUD home...to be honest I don't know much about HUD and how that needs to factor in my analysis, but:

Asking price: $55,000

Sq. Feet: 1,502

Average rent for this zip code: $850

Nearby comps are listed at roughly $85/sq foot.

The factor I'm unsure about when trying to analyze is cost of repairs - this particular house doesn't look to be in very bad shape, it looks like just cosmetic work all throughout is needed. I've been trying to analyze a new deal every day as I am very new and inexperienced. I'd love for those with more experience to weigh in, especially when it comes to estimating the cost of repairs and considerations needed for HUD homes.

Thanks a ton!

Shelby