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Zestimate

Why is 2 side by side building have a different zestimate value of $550,00? I am talking about the 2nd and 3rd buildings from the northeast corner of Steinway St and 30 Ave of Astoria NY. The building valued at $860.000 is bigger than the next door building valued at $1.4M. Shouldn't they be about the same is value?
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February 27 2013 - Astoria
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Answers (2)

Profile picture for user246917
I understand all that. The mystery is that the 2 buildings are almost identical and as a matter of fact, the lower zestimated building has a slightly  higher rent roll and lower RE taxes. Go figure.
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March 01 2013
Profile picture for Stanley Batchar
Hi user246917 -

Zestimate is the starting market value of a property, computed using a proprietary data. It is not an appraisal. The prices per home may vary depending on the physical attributes, price and tax history, or if the property has a prior and current transaction.

For more information click here.

Thank you.

Stanley
Zillow Customer Support
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March 01 2013
 
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March 01 2013 | 2 answers
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