How to determine ARV if ....

5 Replies

Looking at a potential rehab/ sell in the Jacksonville (32205 zip code). Nice street, lots of character. Looking at recent sales and listings, but on this particular block, there hasn't been any sales since the 90s. Compound that with it's smaller than others sold for descent money on another block. How do I determine ARV without loosing my shirt!? I don't really want another rental right now.

Thanks!

Jesse

Originally posted by @Jesse O.:

Looking at a potential rehab/ sell in the Jacksonville (32205 zip code). Nice street, lots of character. Looking at recent sales and listings, but on this particular block, there hasn't been any sales since the 90s. Compound that with it's smaller than others sold for descent money on another block. How do I determine ARV without loosing my shirt!? I don't really want another rental right now.

Thanks!

Jesse

 Hi Jesse, interesting situation. May be a local agent can provide a better view.  

Hi Jesse,

Some things just don't have a quick and easy answer. This is one of them. The absolute best information I have found on analyzing and determining ARV is found in "The Book on Flipping Houses" Chapter 8. Yeah,,,,you'll have to read a bit and then apply the principles to this particular property but I think then you'll have a mindset and aptitude for valuing your deals. The information in the book helped me tremendously. As stated at the beginning of the chapter, "it's as much an art as it is a science". Please feel free to shoot me a note if I can be of any help to you. I have no interest in that side of town as it's too far away from my area of preference.

I would definitely get the opinion of a broke in this case. It is going to drive an appraiser crazy when they have to try to come up with comps. Are there even any listings close by?

@Austin Lee  , all listings are across a major street in the area.  

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