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Updated over 10 years ago,
Cant figure out the COMPS for a property (help).
I got a property that I am having a hard time to come up with an offer price. The area is a hot area where a lot of developers are selling townhomes and condos in 400 - 700K. The property was built in 1945 and apraisal sites have it around around 280K. Another house on the next street sold for 325k.
Land value is 269K
House Size 1,911 Sq Ft
Lot Size 9,374 Sq Ft Lot
I am thinking of starting around 160K.
Since the this house was built in 1945 and how do I get the right comps?
Does this make sens or what are other factors should I consider into this deal?
Thanks in advance.