This may be a newbie stupid question, I located a property that I want to analyze to wholesale. It is in a small town, so there are not any rehabbed properties to see what an ARV would be. All homes sold in the last 6 months where sold in the same condition as this property. I like the location because the town is only 40 minutes from 2 major cities.
According to Redfin market insights, the median price per square foot is $140, should I base my ARV on that?
That might be a good place to start. I would also look up who bought those properties that sold in the same condition and see if they are owner occupied or if an investor bought them. That way you could get some insight if they're an investor, and possibly even wholesale the deal to them! :)