Looking at a flip listed 5k under assessment !

[Marcel K.]

Hi there so we’re looking at a SF property flip that will need some substantial work in order to make it livable. It’s assessed at 181k by the city... on average in today’s market a “ done” house out here sells between 5-10k over assessment, but never know just to be safe. It’s a tri level so not a full basement. Has a newer roof and new heating and cooling. NEEDS - new paint on wooden siding. All new floors/ carpets and molding through the whole house. All new paint on all walls, just plain drywall now . New vanities in baths. New drop ceiling in lower level. Also the pipes froze at one point this year so not sure how serious that is. What would you pros pay for the property as a cash deal? Asking is 175 , and we’re aware the listing agent is out of his mind. What would you guys offer?? I was thinking no more than 140 is that still crazy?? Thanks