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Updated over 2 years ago on . Most recent reply

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4
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Eric Ching
4
Votes |
4
Posts

Comps with ARV (Lot Size vs Year Built)

Eric Ching
Posted

I need help with some comp evaluation to get my ARV right. The software gave me their Comp Analysis but I have my ARV around 600K. I'm having difficulty dissecting some parts of the comps. This property is on a really small lot on the end of a cul-de-sac. When I saw it in person it seemed like they just built this house in-between two houses thus giving the Year Built (1999) much newer than the rest of the comps. In addition, having this house built and squeezing it between the two houses I believe that is why the Lot Size is so small. My question is if my Lot Size is much smaller than the rest of the comps but much newer in Year Built how would someone compare the value? Does Lot Size value more or Year Built value more? And where would you have the ARV just based on the comps? I'm doing a full rehab of the property: paint, kitchen, flooring, exterior, etc. I know my rehab will be much nicer than most of these comps.

Thanks!

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