ARV Comps and Cash Out Refi on Small Multis 1-4

[Andrew Dao]

Could someone please give me any advice on finding ARVs for smaller non commercial multis. 

I purchased and rehab a 4plex in Richmond, Tx for about 160K all-in. It's pulling in +$3,000/month in rent but when I went to do the cash out refi, it was valued pretty much at what I put into it. Appraiser said because it was not valued on the income it was producing as it was not a commercial property and more off comparable sales in the area.

Is there is a way to find/estimate the ARV somewhat accurately for these types of properties? There are barely any comps to compare them to if any.

Looking for more multis but having difficulties analyzing these properties.

Thanks!