Deal Help - Are My Numbers Good?

[David Carrington]

Went under contract on Sunday on a 2 bed/1 bath in Derby, CT.

The numbers are as follows:

ARV $84,000

Rehab $10,000 (mainly cosmetic touches in kitchen/bath/paint/flooring)

Price $48,000 (includes $3k assignment fee)

Average rents for a 2 bedroom in the area $900-1000/month.

I'm trying to follow the 70% - Rehab - Fee formula. Is this too small of a flip for an investor or not enough profit on a deal?