Burned down house

[Donny Widjaja]

Hi BP members,

I found a burned down house (big hole on the roof, broken windows, and it has been abandoned for a year or longer according to the neighbor) and surprisingly, someone mowed the lawn because it looked neat.

I estimated the ARV around $110K to 120K. The tax value: $92K. The house has 4 bd / 2 ba, about 1600 sq ft.

How do I estimate the repair cost for this house?  Do I need to assume I demolish the whole house? I did a quick search online, the estimated cost to build a house is $100 / sq. ft (or higher).  So, I'm looking at $160K.  Is this even worth buying?  The outside bricks seems like in a decent condition.