It is is going to calculate the expected price based off what you tell it as well as what Price Labs sees in the local market.I questioned myself moving to price labs after I had been doing this manually for several years.

The location is in a booming area of McAllen, Tx with almost nowhere else to build and rents have blown up the last few years.  

You’re in an ideal market for growth—DFW is full of active investors and countless networking opportunities through local meetups.

BTW: did you check local ordinances about boarding room rentals (which this would be)?

Compare that to Tierrasanta, where market values hover around $3.01 million for a similar project, and it’s clear that location is key to making SB-9 projects profitable.Agents, this is where you can shine.

Meaning being a developer is actually possible for a local to develop in their own backyard. 

It assumes the property is Class A - which not a lot of investors are acquiring these days.Here's some copy & paste info about property classes:_____________________________________________________________________________Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Where better than Richmond, VA, a promising location for such an endeavor?

Are you looking to stick with your local market?

Welcome to BP~ I want to encourage you to look in your local area.