Comparing Comps Quesion

[David de Luna]

If I'm looking at a property that sells for, say, $25k, that needs rehab, then do comps to determine ARV after factoring in rehab costs. I know that I'm searching the solds in the immediate area, within a few hundred SF of subject property, same beds/baths, lot size. I see plenty of homes in that range - $25k, and very few homes at, say, $50k - $60k. How can I know if the $50 - $60k homes are renovated homes? I'm trying to get a sense of what my ARV will be like, but sort of stuck trying to determine ARV.

Anyone have any wisdom on culling the sold data to find your true ARV?

[Stephen Akindona]

@David de Luna a lot of the comparables sales you are looking at would have likely been sold via the MLS. If that is the case you can usually see pictures from the old listing that sold. This won't work 100% of the time but it works enough for you to get an idea of whether or not those properties were rehabbed. You can also call the listing agents of the old listings and ask them if the properties were rehabbed and what the rehab included.