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Updated over 5 years ago on . Most recent reply

MLS data missing for house. Is this normal?
Morning y'all!
So I've been starting to analyze a few properties to buy my first small multifamily, and I noticed something odd about one in particular. It's a 4-unit located in SE Virginia with an asking price of $125K. It's been on the market for quite a while, so I think I can negotiate a lot lower. Based on median rent in the area, I think I could make pretty decent cash flow, depending on repairs and such. The problem is... there's a LOT of missing information. No square footage, no lot size, and odd tax data. Annual taxes are extremely low for the area (anywhere really!), and I have a few questions:
- Is it normal to be missing a lot of things in the MLS entry for a house?
- Should I be making any inferences about that (i.e., this is a good buy, bad buy, etc.) ?
- How should I approach this in the future?
Thanks in advance for the help! This community truly has been great so far.
Most Popular Reply

Hey Marcellus! That is weird how much is missing. Sometimes, I will see a few key pieces of information missing but not normally that much. Red flags. There are a bunch of steps when listing a property. The family tells the agent. The agent puts the info in the MLS. Then Zillow and sites like that pull the data down and sent it out. There can be a lot that goes wrong in every step. An agent could add an extra zero to the square feet. Or the family might have inherited the property from a passed relative and know nothing about it. There are so many reasons. If you have a go to agent I would reach out to them and see if they could do some digging because agents should be ale to get a bit more info than you are seeing.