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Updated over 4 years ago,
Determining ARV Comps - What to do when stuck?
So I'm working through my analysis of 100 properties, looking for my first deal. Using PropStream to generate leads and filter down comps. However, every so often, I hit a roadblock. When looking for ARV Comps, either there are none in a <.5 mile radius, and if there are, they don't match Bed/Bath.
Bottom line, when determining ARV Comps, I need help on the following.
Scenario 1: I have an ARV comp, <.5 miles, but it has one extra bedroom. Do I just take the price per square foot, multiply that by a decent sized bedroom and subtract that from the sold price for the ARV Comp?
Scenario 2: I have NO ARV comps is less than <.5 miles. But I do have multiple matching square footage, bed/bath, and have had repair work done. But they are 2-5 miles away. Can I still use them when determining my ARV on the subject property?