Los Angeles ARV Battle - Who is closer?

[Geni P.]

Hello BiggerPockets Rehabbers and Wholesalers,

A partner and I are arguing over what the ARV should be for a potential rehab deal we have under contract for $370K in Los Angeles. I think we need to be buying at $300K with $35K in repairs, that will give us 10% ROI and 20% COC. The ARV I was able to come up with was $417K but came up to $425K Max. He says he knows the area better than anyone and the ARV is $490K+++ all day, that it's on a corner lot and in a hot pocket right now.

Property Address:

2202 W 77th St. Inglewood, CA 90305

My lender loans 76% of purchase at 2pts and 12% interest.

Buying, holding and sales cost are around $35K.