Analyze 2nd deal

[Glenn Espinosa]

Breaking my left hand in a bad accident has taken me out of the real estate game for longer than I hoped... I've recently started looking again and have quite some interest in this one particular property. Numbers:

Beds: 3
Baths: 2
Sqft: 1,424 (Will be 1600+ with finished sunroom)
Type: Single Family
Year built: 1955
Cathedral ceilings, big 2 car garage in great shape to the rear.

Asking: 79,900 (priced dropped 10k as of 10/20)

Pictures available here http://www.zillow.com/homedetails/6105-Lockamy-Ln-Norfolk-VA-23502/79225876_zpid/#{scid=hdp-site-map-bubble-address}

Repairs: 50k-55k
Some big ticket items: Will need 50% new sheetrock plus insulation. Converting some of the downstairs into a master bedroom with walk in closet and ensuite, 50 % new roof, new floors throughout, paint, finishing a sunroom, refinished kitchen and baths.

ARV: $189,000

Comps:
#1 - 3/2, Same style house with 350 extra sq ft (mine will be similar with finished sunroom) no big garage. Fixer upper sold as is for $110,900 on 10/12/11, 97 DOM.

#2 - 3/2, Similar style house, same neighborhood, 1 block away. New kitchen, S/S appliances, 1 car attached garage, no sunroom, only 1,500 sq ft. Sold for $176,900 on 2/25/11, 24 DOM (I know its quite a long time back)

#3 - 3/2.5, 1440 sq ft. 1.5 miles away, Totally rehabbed house sold for 205k on 8/18/11. 65 DOM.

#4 - 4/1.5, 1556 sq ft. 1.2 miles away, Totally rehabbed house, builder grade fixtures, sold for 219k 8/05/11, 6 months on market.

Will give more details but Im out to meet my contractor at the house. Give me a piece of your minds!