148K profit on 4266 Washington Blvd, Saint Louis, MO 63108?

[Collin Emerson Miller]

I have been researching properties for potential fix and flips and I came across this property...and I wanted to get some thoughts.

There was a fire that severely damaged the building and now the price is listed at 129K for 7 beds and 3 baths and 3,075 sq ft ($41.95/sq ft).  This property is down the street, and is selling for $415K, has 6 beds and 4 baths, and 3,380 sq ft ($122.78/sq ft).

If the fire-damaged property was rehabbed and the price per square foot was the same as the reference house, it would be worth $377,548 (3,075 * $122.78).

If it cost $100,000 to fix the house, that would put the all-in cost at $229,000, and if the 70% rule is applied, then the max list price is $264,284 ($377,548 * .70).  

So, in the end, sells for $377,548, money in was $229,000, which is about $148,548 profit.

Does this make sense? The profit seems too high to be right. Would it cost more than $100,000 to fix the house?  Are any of the calculations off? Other thoughts?