Property Condition Report: Cost Estimates?

[Alex Huang]

I'm assessing a HUD property (my first investment prop) and am trying narrow my estimate on the cost of rehab on a house.

I was able to pull up a PCR on the property (a brick ranch) and here are some key things:

Cooling/AC - Damaged

Heating/Furnace - Damaged

HVAC Duct - Damaged

Plumbing:

 - Sink: Damaged

 - Pressure Test: Fail

The property is a 1,500 sq ft ranch home that seems like a good opportunity provided I don't overshoot the cost of these items. Which is why I'm here.

My best guess is that, worst case scenario, a new A/C or heat pump would cost about $4k (I had one installed in my own residence last year). I assume some portion of the plumbing / piping needs repaired so I'll say $6k to be safe. The duct work seems like a big variable so let's say $8k as well.

That's $18k in rehab costs before any minor things like flooring / painting / fixtures.

Do these numbers seem egregiously off?