I saw on zillow it was sold 3 years ago for 800k.

Property 1 and 2 sold for $750k, but the foreclosure (3rd) sold for $500kAs you can see, the foreclosure heavily skews the comp.

Ideally, these would be vacant and abandoned properties that have not been sold in the past 5+ years.

pid=2141Houston Real Estate Highlights for December and Full-Year 2024:-Following two consecutive years of declines, single-family home sales rebounded in 2024 with 85,163 single-family homes sold compared to 84,038 in 2023 an increase of 1.3 percent; -Total property sales for full-year 2024 were statistically flat at 101,864 units while the total dollar volume increased 3.1 percent to $41 billion;-December single-family home sales climbed 16.3 percent year-over-year with 7,162 units sold;-Total December property sales increased 13.6 percent to 8,478 units;-Total dollar volume for December rose 20.5 percent to $3.5 billion;-The single-family home median price edged up by 1.3 percent to $334,290 while the average price increased 5.0 percent to $425,150;-Single-family homes months of inventory expanded to a 4.0-months supply;-The townhome/condominium market experienced declining sales throughout 2024, and in December, volume declined 5.8 percent, with the average price up 2.5 percent to $268,152 and the median price statistically flat at $234,250;-Townhome/condominium inventory improved from a 3.5-months supply to 5.4 months.

And it can work really well for you as long as you pay attention to the statute requirements.In order to defer all tax you are selling investment real estate and buying investment real estate of at least the same value you sold. 

The folks on BP are a great resource as is all the training and tools. 

And assuming a 0% return on the $200k you could have in the bank earning $10k/year if you sold. 

They can be a great tool to get started, especially for flips.

Matt does give an OK presentation if your looking to be sold.

If your comps were sold by a real estate agent and you are using them to justify your price, that is like trying to sell your car at a car salesman's price instead of an owner's price.In any case, if you need to lower the price, make sure that the price drop is a decent amount versus a "drop in the bucket."