4650 County Road 463, Elgin TX 78621

The market data from 7 similar recent sales in SIMMONS WM SUR points to a value of approximately $491,169. To sell within a reasonable timeframe at fair market value, the $399,000 to $409,000 range is where I'd position this. With 3 comparable homes on the market in SIMMONS WM SUR, this price positions the property as the most expensive of 3 comparable homes on the market. The 1993 construction puts this home 23 years older than the comp average, a factor in the pricing. At 11.00 acres, the lot is larger than the 6.09 acre comp average, which factors into pricing. Current inventory shows 3 comparable homes in SIMMONS WM SUR; a buyer's market based on recent absorption. In 78621, home values have fallen approximately 8.3% over the past 6 months. One of the strongest data points is 2123 County Road 460, Coupland TX 78615, adjusting to $470,055; with a larger floor plan. The 7 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