Determing FMV in Rural Areas

[Najeriq Mentor]

I stay away from homes in rural areas because the value is hard to determine. However I run into motivated sellers in these rural areas quite frequently. One property in particular, 2/1 930 sqft, has a $33,600 tax assessment. No comparable sales within 12 months time and 1 mile radius. According to the MLS. Zillow has it appraised at $80,090. And I can get it under contract for less than $15,000. From my experience, if a property has no comps it is anti-investor. But I ask, is this a deal?