How To Get A Realistic Idea Of Property Value In Low-Class Philadelphia Areas?

[Isadore Nelson]

Good afternoon,

I'm looking at a property listed for $52,000 in the 19134 area of Philadelphia, where similar properties are selling between $50,000 to $75,000. I asked an agent about typical bank appraisals for similar properties, and they suggested values between $100,000 to $120,000, which seems unrealistic to me. Another out-of-town real estate enthusiast, using local comparables, estimated an After Repair Value (ARV) of $40,000 with high confidence. The tax assessment values the property at $56,000, but, on the contrary, I find tax assessments tend to be conservative. So, I'm now quite confused about the true value of the property.

How can I get a reliable opinion that aligns with a potential bank appraisal?