How to Analyze SFH without a Realtor or MLS Access

[Benjamin Seibert]

This is my first post on the biggerpockets site. I am currently a senior in college and am starting to look at potential investment properties for when I graduate. For a little background info on why I am looking at these specific properties, my idea is to buy a small (2-4 unit) property to live in out of college. My alternative plan is to buy a SFH to rehab, refinance, and eventually rent out. I currently use Realtor.com, Redfin, and Zillow to find example properties to perform my multifamily calculations ( I just use a spreadsheet I created). Not many multifamily properties come up, so I was wondering if there was a somewhat simple way to look at SFH's and pull comps on them to analyze deals. I am about 8 months from purchasing a property so I figured it may be a little too soon to get a realtor. Thanks!

[Andrew Michael]

For multi families I would focus more on NOI rather than comps.

For SFH's of course the best is having access to MLS. The sites you are using will get you a general idea of prices but I would suggest having someone pull true comps once you are ready to buy.

For now, try to find 3 similar properties actively listed for sale, 3 under contract, and 3 recently sold (say the last 160 days).  This will get you a general idea.  Also be sure to match the style of the property, square footage, # of bed and bathrooms, etc.  I would also set up alerts on these sites so you can track properties of interest.  See what price they are being listed at and then  check later for what they actually sold for so you can try to track market trends.