This 1336 sq ft property in Portsmouth, VA presents an interesting opportunity for flipping. Built in 1942, it likely needs some updates but has appreciated significantly in recent years. The current estimated value of $246K represents a 52% increase from $162K in 2020, indicating strong market growth in the area.
Consider purchasing if you can acquire it below $172K (70% of ARV minus $50K for renovations). Focus on modernizing the kitchen and bathrooms, updating systems, and enhancing curb appeal. The nearby comps suggest potential for a $300K+ resale with strategic improvements. However, be cautious of over-improving for the neighborhood.