How to find comps when there are barely any?
I am trying to find comparable properties for a San Antonio 4 bedroom and 4 bathroom multi-family duplex and struggling to find comparables in the market.
My process is to:
1. Go on Zillow
2. Select Recently Sold Option
3. Select a recently sold period of the last 90 days.
4. Select Home Type as "Multi-Family"
5. Select 4 Bed Rooms Exact Match
6. Select 4+ Bathrooms
7. Zoom in on the area for where I want to see comparable properties
So what ends up happening is that I literally only have 1 property that shows up. When I zoom out even further, I only have 3 properties show up. But at that point, the other properties are so geographically distanced (~5-10 miles) that I think it would be unwise to classify them as comparable properties.
How do you currently get around having limited data to work with? Is this when you reach out to a local person in the market to verify comparable numbers? My goal is to be able to do this with data because people can fudge numbers - While data is hard facts.