Tips on Comping Effectively

[Alishba Choudhry]

Hello! 

I am actively learning how to comp properties and would like any tips and/or tricks on how to better comp. Here's an example of a property I have under contract and my comps on it. Please give any feedback on what else I can think about!

4418 Brookwood Dr. Houston, TX 77092

$405K | 3 Bed / 3 Bath | 3,030 Sq Ft | 14,130 Sq Ft Lot | Built 1952

$449K - https://www.redfin.com/TX/Houston/5107-Hialeah-Dr-77092/home/30104865

$499K - https://www.redfin.com/TX/Houston/2206-Wakefield-Dr-77018/home/29994506

$425K - https://www.redfin.com/TX/Houston/4803-Chantilly-Ln-77092/home/30124010

$1.1M - https://www.redfin.com/TX/Houston/1726-Locksford-St-77008/home/30123054

PICTURES: https://www.dropbox.com/scl/fo/q6uzdcx60eiqelwt60uh0/APSK8ocLphgyIP8-85EMfQM?rlkey=nqll6j71hmuippapvh8fdgnv4&e=3&st=f4ummlca&dl=0

It was hard to find a similar property which I didn't know if that was a red flag or not. Some of these comps aren't in the same subdivision and the sqft for all of them are a lot less than the original property. The seller said this is in a gentrified area so there's potential to rehab this effectively and get a high payout as shown in the last comp. So far, if we use the top 3 comps and multiple by the square footage, we'd be getting an ARV of around $700K. This to me seems too skewed.

Let me know your thoughts and if you agree or disagree!