To make this property a compelling investment, you must balance its R-3 zoning upside and rental income potential against its current market sluggishness.
Investment Financial Profile
| Metric | Estimated Value |
| :--- | :--- |
| Current List Price | $375,000 |
| Projected Rental Income | $2,189 – $2,720/mo |
| Post-Renovation Value | $457,000 – $505,000 |
| Projected Yield (Turnkey) | ~7.85% |
Given the property has been on the market for 143 days with two price cuts, it is significantly underperforming compared to the local average of 17 days. While current list price is already $99,000 below the neighborhood median, your offer strategy should account for the cost of refreshing the property to reach that $457k+ value-add target.
An aggressive offer in the $340,000–$350,000 range, paired with a focus on modern interior cosmetic updates, provides a safer buffer for your capital expenditures while securing a property with strong long-term R-3 redevelopment flexibility.