Running cops or multi family

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Running cops or multi family

Precious Thompson
Real Estate Agent · Philadelphia, PA · Member since 2013 · 310 posts · 34 votes

Hey guys, what is the best way for me to run comps on a multi family property if there is it any similar units they have sold recently within the same square footage or miles?

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Austin Steed
Real Estate Agent · Columbus, OH · Member since 2016 · 593 posts · 664 votes
6y

Precious, I'm an RE agent and investor in Columbus Oh. When looking at comps for MF 2-4 units you can really go off of sales comps. Once you get into 5 units and more it's based more on CAP rate. NOI / (markets cap rate) = value.

If there are not any recent sales near your property I would look at what the SFH are selling for in the area. That will at least give you something to start with.

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  • Austin Steed
    Real Estate Agent · Columbus, OH · Member since 2016 · 593 posts · 664 votes
    6y

    Precious, I'm an RE agent and investor in Columbus Oh. When looking at comps for MF 2-4 units you can really go off of sales comps. Once you get into 5 units and more it's based more on CAP rate. NOI / (markets cap rate) = value.

    If there are not any recent sales near your property I would look at what the SFH are selling for in the area. That will at least give you something to start with.

    1Reply
  • Raul Velazquez Jr
    Columbus, OH · Member since 2018 · 91 posts · 54 votes
    6y

    @Trent Ecklar,  @Remington Lyman 

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  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    6y
    Originally posted by @Precious Thompson:

    Hey guys, what is the best way for me to run comps on a multi family property if there is it any similar units they have sold recently within the same square footage or miles?

     Get yourself an agent with access to sales data.
    or you can use a product like RedBell which isn't as accurate.

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  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    6y
    Originally posted by @Precious Thompson:

    Hey guys, what is the best way for me to run comps on a multi family property if there is it any similar units they have sold recently within the same square footage or miles?

    Get MLS access. The best way is to work with a local agent

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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