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Updated about 4 years ago,

User Stats

94
Posts
28
Votes
Matthew Metros
  • Investor
  • New York, NY
28
Votes |
94
Posts

How to find comps when there are barely any?

Matthew Metros
  • Investor
  • New York, NY
Posted

I am trying to find comparable properties for a San Antonio 4 bedroom and 4 bathroom multi-family duplex and struggling to find comparables in the market.

My process is to:

1. Go on Zillow

2. Select Recently Sold Option

3. Select a recently sold period of the last 90 days.

4. Select Home Type as "Multi-Family"

5. Select 4 Bed Rooms Exact Match

6. Select 4+ Bathrooms

7. Zoom in on the area for where I want to see comparable properties

So what ends up happening is that I literally only have 1 property that shows up. When I zoom out even further, I only have 3 properties show up. But at that point, the other properties are so geographically distanced (~5-10 miles) that I think it would be unwise to classify them as comparable properties.

How do you currently get around having limited data to work with? Is this when you reach out to a local person in the market to verify comparable numbers? My goal is to be able to do this with data because people can fudge numbers - While data is hard facts.

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