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Updated almost 13 years ago,

Jon Klaus's profile image
Jon Klaus's profile image
Jon Klaus
  • Developer
  • from Garland, TX
  • Member since Dec 18, 2008
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User Stats

8,666
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Jon Klaus's profile image
Jon Klaus's profile image
Jon Klaus
  • Developer
  • from Garland, TX
  • Member since Dec 18, 2008
Connect
Jon Klaus
  • Developer
  • Garland, TX
4,014
Votes |
8,666
Posts
Real Estate Deal Analysis & Advice

What would you offer for this big REO?

Jon Klaus
  • Developer
  • Garland, TX
Posted

Big house in the country with very few comps because of its size and location. Bank asking $225k. It's been on the market for 5 months. Needs about $30k in cosmetic work. Built in 2003. Should rent for near $3k/mo. Retail value very tough to know because of lack of comps. Tax value is low $300K's. Replacement cost is around $450k.

What would you offer?

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