Seeking opinions on a possible deal in San Diego

[David Tankersley]

Hello BP world, 

I have a lead in the Mira Mesa area of San Diego that I hope will work out, but need some opinions as this should be my first deal. 

It's a 5br, 2.5 bath. 2180sf SFR home.

The seller is asking for $460K and is firm on this.

this seems to be in line with low-en comps from the area, but then I see that average prices in the area are $485k. However, many comps also lean to $550k and up.

The seller did have this listed at 550k as of March, but says he de-listed in frustration after his last offer fell through due to bank financing issues.

I have not yet seen the property as of yet, but hope to see it today.

based on this limited information so far, does this look like a reasonable deal?

[Antonio Gonzales]

@David Tankersley 

Mira Mesa is a popular area and we have done a few flips in the neighborhood over the years. It depends on location, age of home, scope of work needed, and detailed comp analysis. It has potential and seems to be worth checking out. We are based here in San Diego and I have lived here since 1996. 

Once you have better idea of Seller's motivation, there may be some negotiating room that isn't strictly focused on price. Feel free to reach out with any other questions.