Investing In an area with no comps. I am first comp In last yr

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I am interested In a formerly distressed property which now holds tenants.  Nothing has sold I  this area In 5 years. But there are new roads and construction near by with new apt complex popping up each season.  I am not sure how much to offer since there are no recent comps.  If I buy, I will establish the first comp in over a year for sure.  Any b ody with similar experience please share.