Seeking Advice/Help on Determining ARV

[Kwok Wong]

Aloha, I am a new investor trying to determine the ARV of a fixer-upper and looking to BRRRR the property out-of-state.
The URL attached is a CMA Summary Report with on all recently sold properties, active listing, and pending sales as well as my comments/through process.

I followed a three-tiered system to determine the ARV:

T1: Stay within one-miles radius, sold for fewer than six-months.
T2: Size of the properties are within 200 sqft., must share certain attributes (bedrooms, bathroom, etc.).
T3: Compare property type

I came to the result of above 200k and am looking for advice/comments from experienced investors on my decision. Did I miss anything? Also, what is the purpose of "pending sales" when determine ARVs?

Additional comment will be greatly appreciated. Thank you in advance for any input.


Mahalo Nui Loa.