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Updated over 4 years ago,
How would I work out the correct ARV?
I was analysing a potential rental investment apartment that looks as follows:
R745 000 listing, 2 bedrooms 1 bathroom and its 71m squared.
I wanted to do a comparative analysis by taking other properties in the exact same estate that also had 2 bedrooms and 1 bathroom and this is what I got:
property A: R890 000 for 77m squared
property B: R849 000 for 89m squared
Property C: R780 000 for 68m squared
Property D R980 000 for 103m squared
to repeat, they all have 2 bedrooms and 1 bathroom and are in the exact same estate but their prices seem to be all over the place. Also, property A sold for more money despite being smaller than property B.
with that being said im curious to know what price you would evaluate this property at and how it is you got there.
Thank you in advance for the assistance.