At a $350,000 purchase price plus a $35,000 renovation budget, your total basis would be $385,000. Given the property is currently listed at $339,900, you’d be coming in over asking, so make sure that $35k covers the essentials to hit the high end of the market.
Our data shows a top-end market value potential of roughly $396,000. This leaves you with a fairly thin equity cushion of about $11,000. For a quick flip, those margins are tight once you factor in closing costs and commissions. However, as a long-term hold, this looks much better.
| Financial Outlook | Estimated Value |
| :--- | :--- |
| Total Investment | $385,000 |
| High-End Market Value | $396,000 |
| Monthly Rent Potential | $3,150 - $3,200 |
| Annual Gross Yield | ~10% |
With a brand-new roof already in place, your renovation dollars can focus on high-impact areas like the kitchen and floors to attract top-tier tenants.
A $3,200 monthly rent against a $385k cost is a fantastic 10% gross yield for this area. Since this home is in a cul-de-sac and feeds into a 10/10 rated high school, it’s a safer bet for appreciation. I'd suggest trying to negotiate closer to the $340k list price to give yourself more breathing room on the equity side.