Analysis/Discussion purpose: How to Flip profitably

Here is the house, location good, lot size big, near by Google New Complex.

This was listed 1.798 (1.8M) no buyers, they reduced low listing 1.38M, but originally bought at 1.61M. The seller is not going to sell anything less than 1.61M (1.05) = 1.69M assuming 5% commission.

This is not livable, but add-on (remodel) or tear down are mandatory. If a buyer is getting at 1.7M, how does he make profitable?

Near by sales prices of new built homes are going at $800/sqft (lowest) to $900/sqft (highest) range


The lot is huge for the neighborhood.

What is the entry price into the neighborhood?
What is the after value for a professional remodel of a starter home in this neighborhood?
What do the new construction spec homes go for? How big?