Right on cue, we see 0 to 1 at play from @Eric Carr.

But there are other factors at play.

The property is a 4-unit building, in a good location for the aforementioned play.

Properties north of Greenridge St. are a fair play. 

Quote from @Gerald Wallace: I'm playing Devil's advocate and running your numbers through the worst-case scenario.

The smart play would be to build a two story wood frame structure on top of piers or concrete block in most cases. 35 feet is a pretty typical height limit in most neighborhoods, so depending on elevation you SHOULD be able to build two stories on top of the elevated foundation.

Here are key factors to consider when searching for a reliable broker.A good private money broker plays a pivotal role in facilitating real estate investments, serving as a bridge between investors seeking capital and private lenders willing to finance those investments.

Maybe play dumb a little "I don't know if I'm in the right place..."

I get the whole 'dont fall so far behind market value' narrative but this is a long term play for me to gradually trade less of my time for w2 income if you will.

Don't ask me about Dutch Brothers or Burger King or Target, as soon as that is in play, my "in general" commentary is right out the window.