Based on what similar homes have actually sold for within a mile, I'd place this property's value at $259,661. I'd recommend coming to market at $116,000 to $126,000 to strike the right balance between value and market velocity. In the current SUNNY RIDGE market with 7 similar homes available, this price represents the 2nd most expensive of 7 comparable homes on the market. At 187 sqft smaller than the typical comp, the size difference factors into the valuation. Built in 1938, this home is 27 years older than the average comp, which is reflected in the adjustments. 7 similar homes are currently available in SUNNY RIDGE, creating a buyer's market for this price range. The trend in 78705 shows prices have fallen 11.7% in the past 6 months. 4405 Avenue A Ave # 18, Austin TX 78751 nearby adjusts to $92,198; a strong comparable. With 7 solid comps to draw from, the data tells a consistent story. Of course, without seeing the property in person, this is a data based estimate only.
Ed Neuhaus, Neuhaus Realty Group