RENT or FLIP?📌Asking 55k (ARV 130k❗)

Description

Needs TLC, cosmetic touch-ups, and eventually a new roof (roof is not leaking though)

Pipe froze this past January in the kitchen. I have a local guy that can fix and patch it for $700

ARV = $130 or $97 / SqFt. See below 👇

Comparable Sales Nearby:

1.) 518 Crepe Myrtle Ave, Orange, TX 77630

10/16/2023 at $102 /sqft or $134,900

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2.) 501 Hydrangea Ave, Orange, TX 77630

1/18/2024 at $100 /sqft or $129,900

(Click Here for Pics & Listing Information)

3.) 3621 Edgemont Dr, Orange, TX 77630

1/4/2024 at $110 /sqft or $115,000

(Click Here for Pics & Listing Information)

Average of the 3: $126,700 Sales Price and $104 per SqFt

$104 ✖️ 1344 SqFt = $139,700

Projected ARV = ~ $130,000 or $96.72 price per sqft

$130k ✖️ 70% = $91,000 ➖ Repairs 🟰 Buy Price❓

Can you make $55k work?