A Possible deal, what do you guys think?
This is a 3/1 1047sq.ft all brick house built in 1957 with forced heat, no central heat and air. The property needs roughly cosmetics and I would add central heat and air to increase value. Repair estimate at 10k with adding central heat and air. The Arv is 53k retail but I plan to rehab and flip within 6months at 75-80% to an investor looking to hold for cash flow. Rents in the area for 3/1 are around 650+ (low-income area). The house sits around the corner from an elementary school in a quiet rental area. Most houses are occupied and well maintained in the area so its not in a war zone. I am offering the guy 14k does this sound like a good deal if I get this price, or could this be a quick wholesale deal?