Is there any way, if possible to account for ARV of ugly house?
Hey everyone, I'm currently looking at a house off the MLS. It needs a ton of work, but this is not the ugly I'm talking about. Instead, this house is ugly in the sense that the architecture is from the 1970's, square and boxy with roof tiles that run halfway down the exterior. It doesn't have terrific curb appeal...it's just ugly to look at.
Was wondering if anyone has ever taken on a house like this, where it has little curb appeal. Is so, how did you calculate ARV? I assume it would have to sell lower than comps since it's not pretty to look at?
Also, what was your rehab strategy? put money into getting an architect and tearing off the facade and building a nice facade with better curb appeal? Or just do bare minimum to sell below comps so buyers would look past the ugly facade?
Would love any advice you guys might have. Thanks.