Familiar with ORINDA, CA? 799K House Needs 250K Rehab

[Jim Witten]

An agent brought me a house in Orinda that is listed for 799k. It is going to need 250k in repairs, some is structural and some is environmental. But the agent says it would be a great flip because it should be able to resell it for at least 1.2-1.4 million. Obviously not a lot of details here, so was hoping to hear from someone that knows that area I could be more specific with?   Its 4 bed, 2200 square feet. 

If it sold for 1.4, there'd be about 250K in profit after commissions and everything, but 1.2 would only leave maybe 50K. Doesnt seem like its worth the margins for a quarter million in rehab?