Looking For Help Determining After Repair Value (ARV)

[Jonathan Sanchez]

Hi everyone,

There is a property that I plan on pursuing. I'm trying to determine what the after repair value will be. I've been looking at recently sold properties in the area and they are very favorable. However, I don't want to overestimate and set myself up for failure. The range of purchase prices is very wide. I have experienced having one of my properties being valued below my expectations.

I want to be wiser and more conservative. And, I'm unsure how far away other properties can be to be considered comps.

Here is the info:

Property: SFH, 1373 sq ft, 4 bedroom 1.5 bath.

I've thought about finishing a portion of the basement to add more square footage. Therefore potentially adding 400 sq ft.

Here are the sold prices for the recently sold. These are sorted from closest to farthest away:

3 bed / 2 ba, 1600 sq ft - $232k

3 bed / 2 ba, 1538 sq ft - $250k 

3 bed / 2 ba, 1473 sq ft - $185k

3 bed / 2 ba, 2000 sq ft - $160k

4 bed/ 2 ba, 1596 sq ft - $196k

4 bed/ 2 ba, 1690 sq ft - $190k

Thanks! PM if you want more details.