Looking at what buyers have actually paid for similar homes nearby, this property comes in at approximately $1,264,270. To generate strong buyer interest while maximizing value, I'd price this between $1,408,000 and $1,529,000. With 3 comparable homes on the market in RIVER PLACE, this price positions the property as the 2nd most expensive of 3 comparable homes on the market. Being 376 sqft larger than the average comparable sale in this area impacts the per square foot value. At 0.26 acres, the lot is smaller than the 0.29 acre comp average, which factors into pricing. Current inventory shows 3 comparable homes in RIVER PLACE; a buyer's market based on recent absorption. The trend in RIVER PLACE shows prices have fallen 1.8% in the past 6 months. 4105 Michael Neill DR, Austin TX 78730 nearby adjusts to $1,200,828; with a larger floor plan. The 4 comps used here provide a solid foundation for this valuation. Keep in mind, I have not personally inspected this property. The numbers are data driven, not firsthand. Questions about this property or this area? Reach out anytime.
Ed Neuhaus, Neuhaus Realty Group
