Comparable Properties

To get the true valuation all you need are 3-5 comparable SOLD properties within 1/2 mile radius. Make sure they have the same number of bedrooms and baths, square footage is not higher or lower by more than 20%, same style of home, and roughly the same age. If you are working with a newer home, make sure you only use comps within a couple years. If you are working with a really old home, you can get comps with 25-50 years of a difference.

Find the average price per square foot on your comps, then multiply the average number by how many sqft your property has.

But if you want the blank CMA sheet, I guess you could ask your Realtor. Or have your Realtor do a CMA and take out all the information.

Hope that helps!

Hi Dominic, thanks for the insight, you are a wealth of information!
Any thoughts on how to estimate depreciation? There's a field for it when analyzing deals. The last time we dealt with it, the cpa did it. But I don't know if what we are estimating would be the same as if we were doing it for our tax returns.
Thanks again for the first response.

Hallelujah, I found it! Don't know why I couldn't find it the last two days searching online, but just now I decided to try again and it came right up.

Thanks everyone!

Yeah, I used to just leave that part to my accountant but now I am also curious on how to calculate it!

Time to do some research and learn! The more you know!

Thanks!

https://www.fanniemae.com/content/guide_form/1004.pdf