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Updated about 8 years ago on . Most recent reply

Account Closed
  • Farmington, MI
7
Votes |
16
Posts

Estimating the After Repair Value

Account Closed
  • Farmington, MI
Posted

Hi everyone, I am having a hard time estimating the ARV. I used zillow to look at previously sold houses with the same characteristics in the same zip code. I am getting numbers like below, which are all over the place. The other problem with zillow is that I cannot see the house on most sold listing. How do you know what the standard house looks like of the sold properties? I think I am overestimating the cost of rehab of kitchen and bathroom since most houses for sale don't have basic kitchens and bathrooms, but I don't want to risk under estimating without knowing what is selling.

120k

130k

125k

65k

90k

110k

95k

85k

80k

Also if you have flipped houses before, how did you calculate your ARV. And was how accurate was your estimation.

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