This property I'm looking at was built in 1868 (unless its a typo)but obviously has had work done to it because you could never tell at first glance. Is this going to cripple my ARV because all the houses I'm trying to I use for comps are more 1930's-1960. It has no basement and I think that's a positive and I can probably have it under contract for 70k or less while the comps are 220-260 but this property has an extra bedroom and more Sqft. So if the fact that it is older doesn't kill my numbers I could just about replace anything I need to and still make a nice profit. If I was the buyer I would not care when it was originally built as long as everything is up to code and in like new condition. Any advice would be much appreciated.
@Corey Kenney The actual year built in an appraisal doesnt have as much weight as effective age. So if your house was built im 1800s and has since been updated, the effective age could be similar to that of a house built in the 1900s.