This 2-bed, 1-bath home in Somerset shows limited flip potential. At 1,190 sqft with a $38K assessed value, it's already fairly priced against neighborhood comps where similar homes average $132K sold prices. The property's 1930 construction means you're inheriting older systems and potential structural issues. Even best-case renovations (adding 250 sqft) only project a $62K valuation—a 64% increase that won't cover typical flip costs in a market where properties sit 101-178 days.
Unless you can acquire this property for $20-25K or less, I'd pass on the flip. Somerset's slow market velocity and modest appreciation don't support the carrying costs you'd rack up during renovation and resale. If you're set on this area, consider a buy-and-hold rental strategy instead—the $871 monthly rent estimate could generate steady cash flow. For flipping success, focus on neighborhoods with faster turnover and stronger price appreciation where your renovation dollars create real equity gains.