How does septic affect ARV with comps

[Jake Drappi]

Good morning BP,

I first want to say thank you to the entire BP community, as I finally have my first property under contract. I am still a bit nervous, but I am very excited, and it was all possible because of my knowledge gained right here, so a BIG THANKS to all! The property is a SFH that will need a lot of cosmetic work (floors, bathrooms, kitchen). All the big ticket items like HVAC, electrical, roof, water heater have already been replaced around 9 years ago. I plan on calling the town to confirm they were all permitted. The property is also being sold AS IS, which I am still learning about. It was listed on Christmas eve and I was the first person to see it and offer on it, so I believe timing was a big part of getting the property, which is located in Vineland NJ. I plan on updating it and holding it.

I am now doing my due diligence and digging much deeper into the property.  A lot of the comps I am seeing make this a great deal, however, a lot of the comps I am seeing do not have septic and are on city sewer.   Is there a rough system to estimate how impactful a house with septic will appraise vs a city sewer?

Also, I know I read a good thread about houses with septic, but are septic systems a deal breaker for you?  There is no well luckily, only septic.  I will be getting it inspected, and the town is very anal about the inspections, so I believe the companies in the area are very thorough. 

Any tips / advice will be greatly appreciated!

Thanks