Need help analyzing brrrr deal

[Simon Obas]

Hey y'all! I need help analyzing a potential BRRRR deal.

Purchase price $215k

ARV: I'm not exactly sure. I cannot find any comps that makes sense. I'm thinking (more so hoping) high $200s.

The house itself doesn’t need much work. I definitely need to rehab the kitchen. the home currently has one full bathroom and a half of bathroom. My plan is is to add another bathroom (standing shower) to increase the value. I also plan to finish the attic which can be used as a living space, it’s already pretty much done. I’m “assuming” this will also increase the value of the home.

Rehab: $30k conservatively.

Rent: $2000 a month

Context: The home is located in a historic neighborhood in New Britain Connecticut, Which is why I put in an offer knowing the margins would be tight (I think I got excited). I have no problem telling you the address of the home so if you want to look it up and lmk your thoughts I would greatly appreciate it. It’s 25 Forest ST, new britain CT. This would be my first brrrr deal so I really want to do this right! The sellers accepted my offer however, if the math doesn’t make sense I have to pull out and this is where I need your help.

Please help me out! Thank you.