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Updated about 6 years ago,
Having a Hard Time Finding Comps
Noob Alert! Bare with me...so I have watched quite a few of the podcasts, read blogs, forums, etc. I found a multi-family that may or may not be a good deal. I am trying to find comps to compare it to. The issue is the type of property it is (Or maybe just me). It is a California Craftsman/Bungalow (2 bed, 2 bath) with 4 singles/bachelor pads behind it. While the California Craftsman is pretty common in this area, I can't seem to find one with units in the back. Question is how do I find comps? Do I do a comp. on the bungalow then comps on a four-plex? I am stuck.
As a side note, I would hate to move on out of frustration due to the fact that the listing states the 4 singles are rented out for $4,400 per month and it appears that the bungalow was owner occupied which I believe could rent for $3,000-$3,500 per month.