Can't find recent (1 year) comps for a property? Suggestions?

[Brett Lowrey]

Have a family owned rental that I'm looking to sell as a flip but can't find any good comps to put together a real report for it.  Last property to sell in that area was over 2 years ago as a foreclosure.  Other properties near by are not at all comparable to this property which is 30 to 40 years older than the new subdivisions around it.

[Jessica Zolotorofe]

That's a tough one. You probably have to go into neighboring towns that you can make an argument for being similar in demographic and proximity to transportation, or whatever makes your property unique to justify your price. Otherwise, you just have to extrapolate. See if you can find appraiser adjustment rates online. So, if you have a 4 bedroom and the last sale is a 5 bedroom, what do they typically take off per bedroom... If it's 30-40 years older, what does an appraiser take off for that category, etc. Some of it will just be throw a number at the wall and see if it sticks. Let the market dictate whether it's a fair price. The other option is get an appraisal and let the appraiser figure it out!