3br 3.5ba in -but on the edge of- a classy neighborhood

[Josh James]

I am looking at buying this 3200 sq. ft. house at or below 100k. ARV should be 230k but a realtor said not to expect that because buyers can buy new homes (not in the area) for 210k. Average house in the area is worth $72 per square foot.

My repair estimate is about 60k, and I over estimated everything.

Features: 2 car garage, corner lot, well established area, many homes worth more right up the street, 3 minutes from country club, and 5 minutes from medical, 4 minutes from state university, 3 minutes from municipal airport for hobby pilots, large mature trees.

Drawbacks: No pool (in this area about half the houses have pools), house across the street is over grown and painted a very ugly yellow, and is lower value. minor foundation issues (I will fix these, and that is included in my estimate), house was last worked on in the late 80's and it shows.

Anyone have any advice or suggestions? Should I do the deal? Do you have any questions or need clarification? Did I leave out any important details?

Thanks!