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Updated about 7 years ago on . Most recent reply

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Stef Martin
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Investing in a property in Zilker area to rebuild

Stef Martin
Posted

We are looking to purchase an old home from the 50's in the Zilker area in Austin to tear it down and rebuild 2-3 homes on this large lot. My question is, in calculating comps what do I use for the comparables?  Normally I know that I would use similar homes recently sold.  But in this case, since we will only be needing the property and tearing down the home what do we use to: 1. come up with comps  2. develop my repair estimates.

My guess is that I need to find other older properties that have been bought, torn down and turned into multi-property homes in the area...

Any help would be greatly appreciated!

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