Market Value affect of purchasing below market value

[Greg B.]

I have a question about multi families being purchased within the same area and its affect on overall market value.

If I purchase a multi for $60k with a market value of $100k, another investor purchases a property a block over for &70k with a market value of $100k and this happens a few more times over the course of a year. If I decide to refinance my property would it be safe to say that the market value, according to comparable sales, is no longer $100k but somewhere in the 60s or 70s?

Our goal as investors is to purchase below market value for built in equity and to cashflow properly but can that have an effect the values of properties over time? All things being equal

Thanks

ps - excuse me if I'm using the wrong effect/affect lol