Finding ARV of Homes by Zip

4 Replies

@Shahdan Calcuttawalla You may as well just use Zillow. No computer can give you anything more than a high level calculated value based off of comps because they cannot factor in condition and things about the listing that are important to where it would sell. This can be a good reference point, but for example in my area there are a lot of homes with basements that are not finished that can be, so the websites may price the home at a 2/1 but by finishing the basement I could make it a 3/2 which completely alters the ARV. I am not sure what your purpose for wanting this type of site is, but your best bet is to have somebody actually see these properties and do comparables yourself based on like condition.

I'm an appraiser in the Birmingham area and flip houses here also. Like Casity said, I would prefer to have someone that knows the area to actually pull comps for you. Being an appraiser I obviously do all my own research, but I know a lot of great Realtors that can do what you are looking for. I also would be hesitant to go by zip code. For instance, I flipped 2 houses in a small 10 block radius last year. I knew a 3/2 with basement maxed out in the $225,000 to $230,000 range. I was able to buy 2, each for under $100,000 and sold both in the $235,000 range. I do my houses pretty nice and push the values in the neighborhoods I am in. I mention this to say, there are houses within 1 mile of mine that are in the same zip code and sell for $100,000 more and then in the other direction sell for $75,000 less when fixed up. If I just pulled zip info, I would never have gotten my little neighborhood values right. 

Thank you for all the great feedback guys. I understand its not very simple to get the average home values since there are a lot of variables. I am doing an analysis on ROI on section 8 housing in the Dallas area and have to do it by Zip code. So getting the approximate home values for a 3 bedroom, 2 bedroom etc helps.

Thanks again for all the suggestions. And if anyone is doing section 8 homes in Dallas, Hit me up :)

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.