Do these comps work for subject property?

I am practicing pulling comps by finding REO’s on an MLS type service, and then finding comps for them and getting a ARV for the subject property. All subject properties I post here are simply for comp pulling exercises, not anything under contract.

Comp Criteria
-Within same subdivision, not crossing major roads
-sold within last 6 months
-within +/- 10% sq ft preferably, if not enough comps +/-20% sq ft

  • +/- 11 years year built
    -try and get as close to bed/bath/garage to subj prop as possible
  • At least 3 sold comps

Example 1
Subject Property
1,250 sq ft
1961 year built
Listed: 56k
Tax Roles: $85k

Comp 1
Sold 81,500
sld$/ sqt: $57.31
description: Not distressed, but needs a few updates.
Note* I Would have liked a stronger comp here (full retail flip value), but this will have to do.

Comp 2
sold: 90,000
sld$/ sqft: 63.34
description: remodeled

Comp 3
sold: 97,500
sld$ / sqft: 68.76
Description: Remodeled

Median Sold$/ Sqft for selected comps: $63.34
ARV of subject property: 1,251(subj prop sq ft) x $63.34(median comp sold$/sqft)= about $80k, which is actually very conservative considering the tax roles appraised at $85k

Did I do it right as far as sold comps for example 1?

I would like to use this thread to post several examples so I can continue to learn, if thats ok.

Thanks everyone!

The best comps come form real estate agents. How did you pull the comps?

As I said, I am using a program very comparable to the MLS that realtors would use here in DFW. The only difference is it doesnt contain pending/expired comps. I pay for it monthly.

The comps are accurate and the program I pulled them with is valid, the question is do the comps I show prove the value, thats what Im asking

What program are you using to pull comps? MLS will give you accurate comps.

It pulls data straight from the MLS, I thought I already explained that?

I am a little stupid here. Show me where they pull or get their data from the MLS? Please point it out to me.