ARV selling point from seller

[Elvin Green]

Good morning fellow investors, I'm having a bit of trouble assessing a "price" for a house to do my assignment fee calculations. The house is a flood property (which happened in Baton Rouge 2016), but it is in a great neighborhood. Although ARV is about 170-240k in that neighborhood, records show that the property is worth about 85k now. I have the owners information, but what number should I start with considering the assessed value is significantly lower. The property is vacant of course but has no signs of repair as other houses in that neighborhood have already repaired damages and the homes are amazing. I found the ugly house in the nice neighborhood, as Max Maxwell says, but I want my numbers to be accurate. Also, property taxes looks like they haven't been paid since. Help a feller out. Thank you in advance. 🏠

[Brandon Johnson]

Hey Elvin, the assessor's value is irrelevant, to me at least. I work backwards from the ARV, so that is the most important number to nail down to start.

ARV - (Realtor Fees & Concessions to Eventual Buyers) - (Rehab Cost) - (Closing Costs + Your Fee) - (My Profit) = MAX OFFER PRICE to Your Seller

Good luck landing your deal!