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Updated almost 10 years ago on . Most recent reply

Home Value based on area rent and Owner finance
How do you establish home value based on area rents instead of using a CMA?
The home will be offered as owner finance so no bank qualification needed which is of greater value to a purchaser especially those that can't qualify for a bank loan. Rent in area is $1200. The note Principle and interest will be $1250/month NOT including insurance and taxes.
I've seen this formula, annual area average rent * 15. Is this correct?
Thank you in advance.