Analyzing a deal, need a little guidance...

[Brett Ladehoff]

Hey all!

I had a very motivated seller come to me today, with a home he purchased 4 years ago to rehab thru HUD. He's now taken on too much with the home, and in his words "Doesn't care what what anyone does with it, just wants it gone, it's gotten the best of me". This was late last night, so I haven't been able to get a price out of him yet, but I'm not worried about that at this point. I do know that he has done some work as new windows, some landscaping, work inside as well.

I pulled comps from the last 6 months, it's a small community located about 20 minutes from our large metropolitan in Iowa.  House built in 1896, 2 story, 3br 1.5 bath.

A fresh rehab sold on 2/12/18 that was built in 1900 and very similar for $111,9000

In January another property similar in size and year, not rehabbed sold for $112,500

And early January the third comp sold for $90,000

Based on the information, here are my numbers that I came up with, but feel like I'm off?  HELP

ARV- $90,000

Rehab Costs- $20,000

Closing/Holding Costs- $1500

Misc Costs- $2500

Assignment Fee- $5000

Total Expenses- $29,000

ARV- 60%- $54,000

Most I can sign for would be $25,000

I know I'm missing something, and it's late.  Any help is appreciated!  I don't want to jump on shooting an offer and end up being way off on this one.  

Thanks in advance!