For my lot values, I do use a quick sales price x .2 to get my MAO, but I like use this formula too ARV - 20% - ($100 x square footage of house built) -10% - $10000

All in all a decent place to live.The apartment is big for an apartment, I don't have the square footage, but it's got to be close to 1000 SQ FT.

Hi all,I looked at a property today, it is listed as 1100 square ft and 2 beds, while the assessors website has the property listed as 500 square ft and 3 beds.  The 1100 square ft is correct, so the assessors is inco...

See my rough estimator below based on square footage, and remember the numbers may change depending on your market.  

Property valued at   $194,100Comps in the low $200'sHere's the breakdown:   $194,100x        .70 - the golden rule_______________   $135,870We figured the house to be a medium repair price, so we took $15 x the square footage which =    $1,147 - sq ftx      $15 price per sq ft__________  $17,205 total inside repairs(bathrooms etc)We haven't talked to the owner, but are figuring $20k in repairs(roof etc) Sooo   $135,870 - after the golden rule-  $ 17,205 - interior repairs____________$118,665- 20,000 - Cap X____________- $5,000 - fudge factor$93,665 - MAO without profit DEAL, OR NO DEAL?

Whats a typical size(in sq footage) for a unit in an apartment building?

Our county offers a great tool on the assessor website where you can search out solds from the last six month and it has all sorts of filters to narrow the field (like square footage or area of town, etc.)

Also be sure to match the style of the property, square footage, # of bed and bathrooms, etc. 

The bank is going to look at the majors:  location, square footage, roof, foundation, electrical, plumbing, windows, and HVAC.  

I will do 3/1's if the numbers work (I generally want to make at least $1k/month, and not be a large square footage).