Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

Account Closed
  • Real Estate Agent
  • Richardson, TX
161
Votes |
511
Posts

Analyzing a condo with no comps

Account Closed
  • Real Estate Agent
  • Richardson, TX
Posted

Hi everyone,

I came across a potential good deal but it is a condo. My main concern is that there is only one reliable comp within the building.  I don't feel very great about making my estimates based on a single comp. What factors do you take into account when you evaluate comps in condos? 

Here is a list of factors I believe will help me determine/give me a better idea of ARV:

-Building age

-HOA Fees

-Amenities/Parking

-Potential rental cap rates

-Square footage, # BD, BA, unit condition etc

-Comparing the condos to units within a quarter mile radius

-Floor level 

Obviously, it will be harder to quantify some of these factors. If anyone could give me a general though process of your estimates, I'd really appreciate it. Let me know if I'm missing anything that could be crucial in the evaluation. 

Loading replies...