2nd Chicago Wholesale Lead - Is this a deal?

[Ana N.]

Hi all, I got another lead in that I'd like to make an offer on tomorrow.
Any advice on these #s would be appreciated Thanks!

4/2 Frame 2 flat
Each unit is 2 bed/ 1 bath (w/ 1 extra bedroom on 1st fl- sectioned off part of living room for a makeshift bedroom!)
No Garage, Unfinished attic
No Central Heat/ No A/C: (1FL has space heaters, 2nd FL has radiators)
Smaller bedrooms w/ no closets! -only 1 large closet in the back of each unit -off the kitchen

Repairs Estimate: 46k
2 kitchens
2 bathrooms
Roof
15 windows
Central A/C / Heat
Garage
Floors: (1st FL: need kitchen bath, and hallway-rest has newer carpet -2nd FL -needs kitchen, bath, refinish hardwood in other rooms.)
Paint Interior
Doors x 2 -4
Dry wall - 2-4 rooms - repair
20% misc

Comps Note: Until I get MLS access, doing the best I can with sites like ziprealty, redfin, and realtor.com for sold comps.

Best Comp: unfortunately not perfect, but I made adjustments below
6/2 FR 2 FL Sold for $130k 1880 sqft 2 car detached 0.4 miles away Sold 12/13 (4 months ago) Rehabbed 2 flat w/ 3 bedrooms per unit. New windows, floors, kitchens, baths, appliances. Deck and 2 car garage

Adjusted Comp Value: (minus 10k for 1-2 bedrooms, minus 10k for central heat/ac, minus 10k-12 for garage/deck = 100k w/ no garage and no central heat/ac, 115k-118k with garage, heat, ac)

ARV: 115k w/ new garage, central ac/heat

70% Rule MAO for my cash buyers 115k x 70% - 46k = 34k - my wholesale fee = my MAO

What do you all think? Do these #s look ok? Is this a deal? Am I WAY off lol?

[John Weidner]

your repair costs are light given the work you described....

Just for reference a 2 car garage with concrete is about $12K in Chicago

I would look into the rents in the neighborhood to make sure you can offload this.