527 M L K DR, Elgin TX 78621

Reviewing the most recent comparable transactions, this home's market value falls around $281,060. For a well positioned listing in SMITH, J, I'd target the $184,000 to $194,000 range. With 7 comparable homes on the market in SMITH, J, this price positions the property as the 3rd least expensive of 7 comparable homes on the market. The larger floor plan (523 sqft compared to the average comp) is a meaningful differentiator in this price range. At 0.27 acres, the lot is smaller than the 1.76 acre comp average, which factors into pricing. Right now, 7 similar properties are competing for buyers in SMITH, J, listed between $201,000 and $799,000. Recent trends in 78621 show home values have fallen 8.3% since 6 months ago. The most comparable recent sale is 206 M L K DR # B, Elgin TX 78621, with an adjusted value of $138,827; 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