[Calc Review] Help me analyze this deal (another Indy fixup)

[Jason Howell]

Hi again! Still in hot pursuit of honing in my abilities to analyze properties quickly and test my gut response. I'll reiterate that at this stage I'm not yet ready to jump on any one property, this is purely an educational exercise for me. Having said that:

This property is listed as a 3BR in Lawrence, IN, but was once a 4BR so the ARV is boosted to reflect the extra bedroom. Rent wise, it only boosted the rent on Rentometer about $45 per month. I put in $12k in repairs but feel like that might be a bit low considering the listing says it needs "some repairs" which (at this stage in my education) seems to be a big indicator that it's more than just light touch ups. Looking at the outside shot of the home, I can see that the roof isn't in perfect condition... it's either really old or structurally there's something wrong with it and I know roofs are a VERY expensive thing to address. In fact, as I type this I'm feeling more and more like my Repair cost is low and that right there would possibly kill this deal as it stands right now.

Those of you familiar with the area, though... I'd love your analysis based on your own experience. How would you have analyzed this differently? I feel like I'm zeroing in on Lawrence (I already have a few properties there at the moment and they do well for me)

and THANK YOU. I learn so much from you all, I appreciate it.

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