Detailed Property Analysis

While searching around for other real estate websites that might make my life easier,  This website seems like a pretty good website for people looking for properties.  Also it would be a good resource for people wanting to sell their property because it would give them an idea of what they might be able to price it for.

The website tries to look at properties from a strictly financial point of view.  Like many other real estate websites, the information is only as accurate as the data that it was given.  For instance, there is no way the website would know what kind of work a property needs to get it up to speed.  So you can’t just rely on a website like this to answer all your questions – you need to do a full analysis.

It looks like you have to click on the home screen at the ‘Go’ button shown below before you can get to the screen above:

A nice feature is that you can search not only by a specific property or location, but by certain financial measures, such as homes that are discounted by a certain percent from the average market value (see ‘Price Discount’ in the picture), cash flow or CAP rate.  If you hit the ‘Advanced’ button on the top right of the box, you will get other financial ratios to search for with the first screen shot shown above.  So it makes it easy to see properties that are selling for a lot less than their retail price for the area.  Unfortunately that usually means that they need work, but it is a start to find investment properties.

When you search on this, you will notice that the website has an ‘FE-Score’ for each property.  The FE score is their attempt to consolidate all the financial numbers for a property into a score like your credit score in order to tell you if the property is a great deal or a dud – kind of like a credit score says something about a person.  You can read about the FE score here to see whether a property is a good deal at first glance.

To get further into the website and details of a property that you want to see from your

search, you should click on that property.  This is what comes up: and if you scroll down further:

As you can see it gives you a pretty detailed view of the property, it’s potential as a rental property, and what values are doing in the area.  It even includes comparable rentals and some comparable active listings – remember these are NOT sold listings! However, it does give you a rough idea of how the property is priced.

You will still have to do your due diligence in terms of verifying the numbers, seeing if the property is not too weird to rent out, and determining repair costs. However, for sizing up properties from a list, this is probably the best financial website that I have found to do so.

One other note is that I did not think the website catered much to multifamily property owners, but it still had an awful lot of sales and rental information.