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Updated about 10 years ago,

User Stats

142
Posts
32
Votes
Tuan Le
  • Investor
  • Houston, TX
32
Votes |
142
Posts

How do you find ARV if comps are spread out?

Tuan Le
  • Investor
  • Houston, TX
Posted

I am looking at a townhome that needs a bit of TLC. The wholesaler is offering a little bit over 55k that needs about 5k in repairs. He suggested $77k ARV. I've looked at comparable properties with the same sqft, bdrm, bathroom. The numbers are:

#1 $52,000 DOM: 2 days

#2 $55,000 DOM: 12 days

#3 $70,000 DOM: 11 days

#4 $79,000 DOM: 66 days

#5* $87,500 DOM: 10 days

*The first 4 are from same subdivision.

How would you figure out what the ARV would be from those numbers?

If I were to do a cash-refinance, how can I prove to the bank that it's at least $77k after repairs. 

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