Is this how to come up with the ARV for a micro-market? If done correctly.

[Arthur Hernandez]

If I find a Subject Property and I know it's 1,400 sqft I can use that to come up with a range for the sqft for the Zillow search, the range will look like (1,200 sqft-1,600 sqft). So then I use Zillow and enter the micro-market zip and enter the steps here:

Step 1: Enter the Zip into the search bar

Step 2: Enter and then leave the Price Range from Any to Any

Step 3: Select from the dropdown "Sold"

Step 4: Select Bedroom to 3+ and Bath to any

Step 5: Property Type to " house"

Step 6: Then go in to the filter menu and enter the sqft range 1,200 and 1,600

Step 7: Is to draw a circle around micro-market and zoom in on the comes with mousepad and draw a 2 mile radius (if there is no sold comparables or only two, does this happen often)

Next thing to do is to look at the retail properties (fully renovated and flipped houses) or very close to fully renovated. And choose the to best fully renovated comp with a highest Property Value (Price of the Property), and that is the ARV.

Are these steps correct for getting an ARV using a micro-market approach?