COMPS Analysis - Off market

[PJ Boxel]

I am trying to do a CMA with a property I am intending to buy in St Louis, MO. It is not intended to buy as a flip; however, I need to know the current value to refinance the property and knowing how much to offer. I want to recover most of my capital and therefore buy cash (BRRRR). I suggested that analyzing comps would be a good start, as the appraisers also work this way.

I am stuck in the valuation of a comp. So, for example, how much does the price gets impacted when we compare a 2 bedroom, to a 3 bedroom in the same ZIP? How does this work with the SQFT and age of the property?

This is my current COMP overview, all in the same ZIP AREA, sold <6 months:

How can I determine from here the right valuation and refinancing amount?

[John Chong]

Are you working with an agent in St Louis, MO? They should be able to run a CMA for you and pull all of the sold data between a 3 bed vs a 2 bed in the same zip code. If its public record for MO, you should be able to find the comps on other sites. Every market and neighborhood is different so you would need to see the sold data to compare.