REO Offer

[Dan G]

Hello,
I am new to investing in REOs and need advice on my first REO. I found an REO listed at $73,900. 2008 County Appraisal is at $134,000 and after some research found that it sold for $127,500 1.5 years ago. Went and looked at the property and the property is in great shape. The things I saw that need work are; new paint, new flooring, and new countertops (nothing expensive). No visible foundation damage, electrical seemed fine, Central A/C kicked on right away when I turned it on. I've done a couple of rehabs (not an REO) before and fiugre that I will need nor more that $10,000 to rehab this property. The house also has a nice size pool in back yard and needs to be cleaned. The area this property is in has grown dramatically and sits near a park and schools. I need advice on how much to offer. The listing agent stated that she was also expected 2 other offers. I will be making a cash offer..

Listing price: 73,900
Previously sold for: 127,500
Property Taxes: 3,370
Sq FT: 1956 Sq FT
Year Built: 1980
3 Bedroom/2 Bath
2 car garage
Local Rent for similar properties: Between 1300-1500

Thanks
Dan