help with property value of a Class C/D neighborhood rental?

[Justin Martin]

Hey All, 

I'm new to investing but I've been putting in offers on flips for the last few months with no luck. I've lowered my neighborhood search to a Class C/D Neighborhoods and a deal popped up. Here are the details:

1100 SF house with a separate metered 300 SF studio apartment

The house right beside it has been renovated as is essentially the same house that rents for $1k. I think the unit in the back is worth $550 a month. 

The property is $55k and I'll have $50k in renovations, 5k in closing and low holding costs as it will all be cash. Comps in the area say the house is worth 120-130k without the apartment in the back. 

Does that apartment add value to a home like this if I wanted to sell it when I was done rehabbing. 

I know it's not a big margin, I'm not too concerned about it, I just want to get my feet wet. 

Thanks!