Philly HUD Deal - Renovation Details

[Account Closed]

Hello, everyone. I posted about having my HUD bid accepted in the Buying & Selling Real Estate forum yesterday. The address is 149 Pierce Street, 19148. Details are provided below:

Purchase Price: $120,000

Renovation Costs: $30,000-$35,000 ( property is in move-in condition, but our plan is to finish the full basement and add a 2nd bathroom there, replace carpeting, knock out the kitchen wall to add a breakfast bar, repaint, and remove siding to add brick, or perhaps granite for an immaculate finish)

Conservative Retail Value: $230,000-$240,000

Our wonderful Ugochukwu Opara provided me with a detailed comparative market analysis, and based on said analysis, the retail value is $264,000.

Here's a link to access the analysis:

http://www.narrpr.com/report.ashx?report=4ae6eb8e%5c6651-4f02-9719%5ce680383ee4b8%5cProperty-Report_149-Pierce-St-Philadelphia-PA-19148_2013-10-19-01-02-00.pdf&isauto=False