Catherine Villanueva - Catherine Villanueva - ALBANY - real estate investor

Find Market Value or ARV Multi Family and Mixed use Properties

I am looking at 5+ and mixed use in NY, NJ, CT, and PA. Determining my best offer is often guess work because there are no comparable sales. Any suggestions?


Technically, when trying to ascertain the value of multis (apartments), you'll use the estimated gross income of the property... that's how you should go about it anyway... so comps are irrelevant in that regard although you can use comps to have some sense of how the property is priced compared to similar structures. The comps based approached is mostly used for nonincome generating properties.

Figure out the average rent prices within a mile or so of other same class apartments, then go to Craigslist and Zillow to hone in on a realistic price, also don't always believe the rent roll, we all know that everyone is always honest! Keep it simple, imagine what you would pay. Also do an area crime check even if you need to call the nearest police substation to make sure it's not shootout central! Hope I helped! Good luck! ????

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