This is the definition of a "diamond in the rough." You’re looking at a full gut of this 1,547 sqft Cape, but the spread here is massive. With a $175,000 entry point and an After Repair Value (ARV) potentially hitting $727,000, you have a huge margin for a high-end overhaul.
Focus on these key areas to maximize your ROI:
Systems First: Since "nothing works," prioritize new plumbing, electrical, and a high-efficiency HVAC conversion.
Modern Layout: Open the kitchen to the living area to appeal to today's buyers or high-end renters.
Curb Appeal: New vinyl siding and windows will instantly boost value in this Wheatley Heights pocket.
| | Estimated Value |
| :--- | :--- |
| Purchase Price | $175,000 |
| Renovation Budget | $150k - $225k |
| Target Resale | $658k - $727k |
| Potential Monthly Rent | $4,000 - $4,500 |
Don't forget the tax perks! Since you're replacing everything, look into federal energy credits for new windows and heat pumps to save on your tax bill. Also, every dollar spent on the gut job adds to your "cost basis," which will slash your capital gains tax when it's time to cash out.