Multi Family with Dry Rot Behind Stucco

[Devon Nugent]

Hello all, I am looking to make an offer on a three family Fannie Mae foreclosure with dry rot under the exterior stucco on at least two sections of the house. In one area it is bad enough that the wall move when you push on it. A neighbor told me that, that section was damaged by a fire many years ago. I suspect that the repair to the stucco was not done properly allowing water to get in behind it. The stucco on house is old and in bad shape so probably needs to be removed or vinyl side over it.

Question: If I decide to an an offer how much should I budget for repairing this and how complicated and expensive will this repair be. I am in SE Connecticut and the house is a three story, approximately 3700 sqft.  Thanks in advance.