Hello BP Family,

I have a deal in Indy that is almost 5.5k SQFT but it needs rehab or you can say more than TLC :)

Looking at the current need of rehab it looks like it will be around 125K+ of rehab to make buyers feel good to pay top price. I made an AS-IS offer for the price of 150K+. I believe I will have the contract but I am still waiting to hear back. I learned that there are not many offers, may be the other buyers have the same problem as I have (just a feel good guess).

My biggest problem is all nearby SFH are about 2k SQFT and not a real comp in terms of size and feature as the subject property is 5 bedroom and 4.5 bathroom. Please suggest how to go about determining the ARV in this particular case. I have to go more than 1.5 miles away from the subject property to get good comps but so far from the subject property will not be good comps where the area is densely populated.

Looking at the SQFT of the house it will sell around 400k if I believe in the ARV of a near by house that is smaller than this and sold for 360K. But I don't want to assume anything and go strictly with numbers alone. Please suggest.

Thanks,

Sam