[Calc Review] Help me analyze this deal

[Todd Groom]

View report

*This link comes directly from our calculators, based on information input by the member who posted.

This will be a cash deal then a cash-out refi a few months later. The property is in a flood zone and floods often per the neighbors. The report is based on the full offer but we may be able to get them down a little more since it needs about $20k in work. We manage our own properties with an in house employee this is why I set the % to 5. It is just to cover his cost.

The home needs some TLS so I calculated the rough cost then added $5-$8k on top of that for things that may pop up. The HVAC is working great but was installed 2006-2008 so I put a higher % for capital expenses. Not sure if it is high enough same with HWH it is 2008. The roof is brand new but the neighbor said it is a FEMA roof and took them a year to finish it. So while it looks good unsure of it lasting 15 years. The home is built up some but one neighbor who has lived there 15 years said not enough. block frame home with only 2 ways for water to get in. So easy to sandbag up.

 One other interesting thing about this deal is they have reduced the price by $10,000 in just 2 weeks. So it seems they want to sell quickly. I was told he had 4 people in here over the last 10 years and I believe each was a rent to own deal that fell through. The last one was an 8-year deal. Armed with that information would you try to lower the offer or seeing its already a wedge deal just grab it before anyone else? When done comps in the area sold for $110k-$139k but this will be a brrrr.... Thanks