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Updated over 6 years ago, 04/05/2018

User Stats

312
Posts
273
Votes
Gordon Starr
  • Rental Property Investor
  • Dayton, OH
273
Votes |
312
Posts

Mls comps vs turnkey, prices of grapes vs wine?

Gordon Starr
  • Rental Property Investor
  • Dayton, OH
Posted

Hi bp! 

I am trying to get a fair price for a couple turnkey sfr and there is a question about pricing of turnkey property being higher than mls.

In the c neighborhoods of dayton, oh, mls prices are generally below 50, owner occupants can't get financing, flip to sell is not really feasible, freshly rehabbed properties rent quickly and for good rents and good tenants. So, you look at the rental listings - lots of rehabbed properties. Mls listings - basically none. 

Now, these places of mine have fresh rehab, fresh three year leases, and screened tenants who can easily afford the place. There is a lot of interest from investors, but I keep hearing the comps don't justify the.price. How do i arrive at a fair price when the mls has zero properties like that? 

Thanks in advance for advice. Click on my name if you want more specifics. Gordon

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