HOW DO YOU ESTIMATE AN ARV IF THERE ARE NO COMPARABLE PROPERTIES?

[Robert Damato]

Hello BP, how are we doing?? I am looking to see If anyone has any pointers on finding an ARV on a property if there are no similar comps in the area. For example, I am looking at a 3 row townhome on a isolated lot amongst primarily single family homes with a couple duplexes here and there, and I can not find a single other building like it in the area. The only source I have to go off of for its value is 314k and that is off of the city assessors website and they are asking 534k. It needs about 15 to 20k of renovations per unit I think 534 is high, so I am trying to find a number that is not going to put me over the value of the property after the value is added.

looking forward to what yall have to say,

cheers!