ARV for a property up in Lexington

[David S.]

I'm looking at an off market duplex in Lexington, MN. Thought I had ARV nailed - place next door sold recently for $237k. I just found out that it was turned from a duplex into an SFR for owner occupancy. Two other duplexes sold nearby for $140 and $160, but I'm pretty sure those were REOs. Owner won't budge from $175k, and the place needs $15k in repairs. With that ARV of $240, could do a BRRR pretty easily. If not, probably should pass on it.