ARV validation over $85k

[Orlando Spencer]

Hello all. I've done about four transactions this year with rentals and flips. However, I'm trying to verify if the ARV for this property would exceed $85k given sales in last 6 months... if you could help me, decipher this I'd be very, very grateful and know if it's a good wholesale deal or not!

3023 hickorynut street, Jacksonville, FL 32208 ($26900 list price)

[Peterson Dierivot]

Unfortunately, MLS does not support the 85K ARV as the comps are not similar to the subject property. For example, a 4/2 with 2100+ sq. ft. not to far from this 2/1 sold for 120k within the past 6 months. Also, in this particular zip code, home prices change from block to block. RPR has an AVM of about 33k to 48k. This "might" be a wholesale deal.

This ARV has Zillow written all over it. Zillow estimates are about 70% inaccurate. There are so many inaccuracies with Zillow estimates that we can save that for another discussion.

Best of luck and don't stop!!

Pete