Deal analysis

[Tiffany Cunningham]

OK I think I have something but I wanted to confirm with some seasoned investors before I make a move

I have a yellow letter lead that just might be ready to sell his 3 family home/income property for the right price. Tax assessment website says it's full market value is 283k. Zillow and findcompsnow.com is saying value is 451k. A similar home in dyre need of a full renovation around the corner sold for 96k. Similar recently sold homes range from 350k-450k max

The home has 8br 4 ba 2800sq ft roof replaced 2 yrs ago interior remodeled last in 2002. Maybe 30k of work put in would bring the value up. This is my rough estimate based on square footage and the description the seller gave me. (2800sq ft * light remodel $11/Sq ft for about $30,000)

How should I proceed in making an offer? Should I even make an offer? My MAO calculation says if i do, I should offer no more than 276k if i want to get a $7500 wholesale fee.

What do you guys think?