How To Find The ARV Without Having Access To The MLS?

[Zach Rumfield]

Good morning BiggerPockets,

I am a new investor/wholesaler and I am trying to understand the most effective way of finding the ARV of a property without having access to the MLS? I have looked at sites like Realtor.com, Redfin, and Zillow but it doesn't provide OR doesn't give a pinpoint sale price on properties. What would you advise I do you have for me on this topic? Much appreciated!

Zach Rumfield  

[Nicholas L.]

@Zach Rumfield

a smart agent can help you but you should be able to use Zillow.  just look at sales and you can change to filter to recents.  you can also subscribe to Propstream if you want to do something a little more advanced.

[Zach Rumfield]

Quote from @Nicholas L.:

@Zach Rumfield

a smart agent can help you but you should be able to use Zillow.  just look at sales and you can change to filter to recents.  you can also subscribe to Propstream if you want to do something a little more advanced.

 Thanks Nicholas! Does Propstream offer this kind of access? 

[Zach Rumfield]

Quote from @Nicholas L.:

@Zach Rumfield

a smart agent can help you but you should be able to use Zillow.  just look at sales and you can change to filter to recents.  you can also subscribe to Propstream if you want to do something a little more advanced.

 I see the sale price in Zillow but is that an accurate representation of the actual sale price?

[Amir Khan]

Quote from @Zach Rumfield:

Good morning BiggerPockets,

I am a new investor/wholesaler and I am trying to understand the most effective way of finding the ARV of a property without having access to the MLS? I have looked at sites like Realtor.com, Redfin, and Zillow but it doesn't provide OR doesn't give a pinpoint sale price on properties. What would you advise I do you have for me on this topic? Much appreciated!

Zach Rumfield  

Hi Zach, I see you are based in Houston, TX and assume that is where you are investing? If so, you got to understand that Texas is a non-disclosure state. Therefore, the sales price of a property is not recorded in public records. Most free sources like realtor.com, zillow.com pull data from county/public tax records. 

Your best bet is working with a licensed agent who can pull accurate MLS data and understand what you are doing...

[Zach Rumfield]

Amir,

That is excellent advice. I appreciate that. I am investing in the houston area. Do you do so youself? 

Best regards,

Zach Rumfield 

[Amir Khan]

Quote from @Zach Rumfield:

Amir,

That is excellent advice. I appreciate that. I am investing in the houston area. Do you do so youself? 

Best regards,

Zach Rumfield 

Zach, no not currently. I just sold my apartment complex in Texas. I am currently buying in the Midwest...

[Zach Rumfield]

Best of luck Amir!

[Michael Carter]

Quote from @Zach Rumfield:

Quote from @Nicholas L.:

@Zach Rumfield

a smart agent can help you but you should be able to use Zillow.  just look at sales and you can change to filter to recents.  you can also subscribe to Propstream if you want to do something a little more advanced.

 I see the sale price in Zillow but is that an accurate representation of the actual sale price?

 Yes, it is! Not the zestimates. But if it's after the homes closing, it shows the exact purchase price it was bought for. Easiest to view if you just filter by recently sold homes. 

[Wale Lawal]

@Zach Rumfield

Estimating an ARV involves using public sales data, subscription services, local tax assessor's website, real estate agents, CMA tools, and local appraisers. As you become more familiar with neighborhood values and property conditions, estimating ARV becomes easier over time. Utilizing these methods and collaborating with local appraisers ensures accurate results.

Good luck!