The market data from 7 similar recent sales in RHODES points to a value of approximately $327,558. To sell within a reasonable timeframe at fair market value, the $251,000 to $261,000 range is where I'd position this. With 4 comparable homes on the market in RHODES, this price positions the property as the 2nd most expensive of 4 comparable homes on the market. At 193 sqft smaller than the typical comp, the size difference factors into the valuation. At 0.19 acres, the lot is larger than the 0.16 acre comp average, which factors into pricing. There are currently 4 similar homes on the market in RHODES, ranging from $250,000 to $388,000. In RHODES, home values have fallen approximately 9.2% over the past 6 months. One of the strongest data points is 1507 Apollo CIR, Round Rock TX 78664, adjusting to $334,871; a strong comparable. 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