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Updated almost 9 years ago on . Most recent reply

User Stats

28
Posts
1
Votes
Anthony Harris
  • Wholesaler
  • Pittsburgh, PA
1
Votes |
28
Posts

Determining Comps

Anthony Harris
  • Wholesaler
  • Pittsburgh, PA
Posted

Hi All,

Looking for some advice from any experienced Investors out there. So, I got my first property locked up and I'm not sure if my numbers are too high when trying to find  my end investor. The comps I used are similar in sq.ft and have same beds and baths however they are Brick/Shingle and my property is Frame/Slate property type. Would that still be considered a comparable. I'm a Pittsburgh wholesaler by the way. Thanks! 

Based on the comps I have prop at 173k

3 highest sold comps are: 192,890..173,000, 154,900 all sold in March w/in .8 miles of my prop

Thanks,

Most Popular Reply

User Stats

102
Posts
24
Votes
Devin Woods
  • Real Estate Agent
  • Pittsburgh, PA
24
Votes |
102
Posts
Devin Woods
  • Real Estate Agent
  • Pittsburgh, PA
Replied

Anthony,

Just my input. But if your planning to sell this off to an investor, and it is renting for $1k/month. I don't think there's many investors out there that are going to pay more than $100k, in the Pitt market. And that might still be way too expensive. Even in your higher end neighborhoods, you can still get a 6 cap or better. To get an accurate cash flow, you'll have to consider many other expenses other than just taxes.

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