There's also a big preference for the new layouts & design of a new build vs the old one (trust me in dealing with tiny closets, small bathrooms, & an OK at best entertainment layout in a ~110 yr old personal dwelling!)...

So I found some cheap granite countertops on the Facebook marketplace that someone is trying to sell but my countertops are a different size and layout than theirs.

If you want to try and get granular you can always layout the expected cash flows in a spreadsheet and calculate an irr but this is probably overkill, especially in sfh’s because you typically don’t know how much you can exit for.

@Jason Richey$80k would net you four  3 bedroom houses with modern gas forced furnaces and a proper (sellable) lay out. 

I published a personal blog post here on Bigger Pockets to lay out my thinking.  

There are too many other factors -- location, condition, layout, neighbors, etc.Note that a CMA often won't give the the right answer either -- it will simply indicate where the appraisal should come in. 

I lay out all of my expectations in my lease that we go over in detail at lease signing so we are on the same page from day one.

The details -The bank counter is 119k-Rents for 1k-1100 per month-Built in 2004-1500 sq ft 3/2Financial:-25% down(+)'sGood neighborhood and surrounding areaNewer home so hopefully not many repair Some Curb apeal -Good size(-)'s-Tiny lot (backyard maybe 6 foot long)--The builder put a lot of these home in one area so the street is one lane -low end fixtures etc, not the best layout.

In fact, your words are encouraging because in some of the areas I'm evaluating for potential flips, that is exactly the case.So to paraphrase (I think), as long as there is "sufficient" good-condition inventory selling in the immediate area and fairly recently (to provide accurate comps and permit an appraisal to come back where you need it on resell) -- even if these sales are as little as 20% of the market, then you have viable flipping conditions.And intuitively I'd think that the greater the ratio of good-condition retail sales in your flip's area, then the better the odds of achieving success with your distressed flip.

However make sure that you explicitly lay out in the contract for this deal how either party can buy out the other.