Real Estate Analysis Tool

[Andrew Potievsky]

Hello,

I'm a techie at heart and I'm looking to make my first real estate investment.

I want to develop an online or excel tool that can help me evaluate neighborhoods that maximize on cashflow. I was considering of using the Zillow API but from what I hear, the data isn't the most reliable.

Can someone please guide me on what datasources are the most accurate for property sales and rentals?

If such a tool or service already exists, please let me know as well since I don't want to reinvent the wheel. I'm happy to share this tool with the community if there is enough interest.

[Ned Carey]

The app already exists. In fact you already have one. It is called you brain.

No automated model will match a careful analysis of the data by a real human. The reason people say not to use Zillow is because it is an automated model.

Numbers are easy to evaluate and there are various calculators here on the site. But subjective factors like the appearance of a neighborhood is much harder to quantify. Trash, landscaping weeds in the sidewalk cracks, the appearance of people hanging around, Are all subjective and difficult to add to a formula.

Some things like; the types of cars in the neighborhood, crime statistics, Populations growth or decline and other various demographic info, Permits for new construction, forecosures, etc etc while quantifyable are not easily and consitently found from a relliable source.