Any Insight for COMPS on Quadplex?

[Ronaldo Gillespie]

Hey Everyone,

I'm looking at a deal with my fiance that's a few blocks away from our current home (we own) in an up and coming neighborhood.

An agent I've been working with mentioned he was listing a decent Quad in my target area, but that it was listed too high and he didn't think anyone was going to pay what the seller has insisted asking... so I didn't look into it. A few days later I ran across the listing organically thought, it's not a bad deal... yes, the number is too high, but I think it could work if the seller is willing to come down.

The issue I'm running into is that this area is almost entirely SFR.... with the exception of some duplexes and a small handful of tri's/quads, none of which have gone to market in the recent past. I asked my agent and he sent me some "best we can do" COMPS but they were not very helpful because they all had so many different attributes compared to the property in question.

Additionally, from a commercial perspective, I've run some of the KPI's (CAP, GRM, & COC) and things look good.... but I keep reading that you can't use these for small multi and that I should stick with COMPS. Based on what the previous owner paid, their improvements, & relatively short hold time, I know this is not worth asking so I'd like to get a more concrete way of establishing my own pre improvement value and ARV.

Any other ways I could/should be looking at this?

Thanks in advance!