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Updated about 1 year ago on . Most recent reply

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Oasis Duenas
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Figuring out current property value

Oasis Duenas
Posted

I'm in the middle of determining my ARV for my first possible fix-n-flip. How do I calculate the home's current value, are there other ways of doing it without an appraiser?
I’m trying to learn as much as I can and be as hands on as possible to understand everything more clearly. 

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Andrew Freed
  • Investor
  • Worcester, MA
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Andrew Freed
  • Investor
  • Worcester, MA
Replied

@Oasis Duenas - Yes, you can always inquire with an experienced real estate agent to run a comparable analysis of the ARV under the assumption that they may list it once you are completed with the flip.

You can also do it yourself. Normally, for comparables, you want to look up recently sold properties within a half mile to a mile (the closer the better), in similar condition, square footage, amendities as the end product, and the same or similar bedroom/bathroom count. You can google how appraisers determine value and use a similar approach. That is more or less what agents do when determining the sales price of a listing. I hope this helps! 

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