Is this a steal? Or a bad deal? SFH BRRRR Opp

[Charlie Anne]

I found a SFH for sale near Atlanta that is a fixer upper. Advice would be appreciated! I'm not sure if I should go for it or not, but I do think it's the best opportunity I've found so far.

Price: $45,000 (incl closing costs)

Rehab: $25,000

All in price: $70,000

• Rent - worst case scenario: $900

• Rent - medium scenario: $1,000

• Rent - best case scenario: $1,250 (w/o COVID I would be confident rent would land here)

The median price in the zip code is $123k. This is a 7 bedroom 2 bathroom home near a university, however it's in a "up & coming" part of town where some houses are still in bad shape but others are great. It's a 5 minute drive to downtown. 

[Marc Brenner]

Hi @Charlie Anne, it's tough to analyze with knowing the address but it's hard to believe a property at $45k only needs $25k to get it in condition to rent for $900-$1250. "Up and coming" 5 minutes from downtown? Are we talking English Avenue? Dixie Hills? Be careful you're not purchasing in a really bad part of town. As someone who analyzes deals ITP everyday I'm willing to bet one or more of your assumptions is unrealistic but it's hard to say without more detail. Feel free to PM me if you'd like a closer look.