Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated 12 months ago,
Deal analysis Macon, GA!!!
Hello everyone, newbie here in the real estate investing world. I am struggling with deal analysis. For example, I am looking into the Macon, GA area to test out what I have learned recently. I am using the platform propstream to assist in my deal analysis, however in doing so I am confused as to why would a property be listed more than what it is actually valued at prior to a rehab being conducted.
for example this property is listed for 70,000 but the arv is calculated at being 66,000 but the comps that i ran that sold within the last 6 months had purchase prices of 165,000/ 30,000 / 28,000 / 25,000. and the square footage of the comps are 1,500/ 1,494/ 1,218/ 1,424. I'm just confused as to why it is listed so high when the housing price average would be around 27,000 if we were to take out the house that was purchased for 165,000, but the average with the 165,000 included is around 62,000 with the avg PPSF being 44.002. Hopefully, this makes sense and I can gain insight to better understand this, thank you for reading this.
purchase price: 70,000
square footage of subject property: 1,500