Trouble with Comparables

[Andrew Herrig]

I am trying to comp a potential direct mail lead in East Dallas and am having trouble analyzing the comps. There are plenty of comps for houses that are perfectly livable but very dated, ranging from ~$60-65 per square foot. However, I'm having trouble getting any consensus on past solds that have been rehabbed.

There are only 3-4 past solds that have been rehabbed (going back one year) and they range anywhere from $80-$125 per square foot with apparently no rhyme or reason. They all seem to have about the same level of rehab and are on nearby streets. I have driven the neighborhood and they seem to be good comparables (similar age, size, features, etc.)

What do you do in this situation? Take the very conservative end of the range?