Based on what similar homes have actually sold for in the surrounding area, I'd place this property's value at $376,886. I'd recommend coming to market at $467,000 to $499,000 to strike the right balance between value and market velocity. In the current BUILDING BLK market with 7 similar homes available, this price represents the 4th most expensive of 7 comparable homes on the market. Being 492 sqft larger than the average comparable sale in this area impacts the per square foot value. Built in 1895, this home is 82 years older than the average comp, which is reflected in the adjustments. 7 similar homes are currently available in BUILDING BLK, creating a buyer's market for this price range. The trend in 78602 shows prices have risen 0.2% in the past 6 months. 1102 Pecan ST, Bastrop TX 78602 nearby adjusts to $456,226; with a smaller floor plan. 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