After-repair value is an estimate of the value of a property after it is repaired. This serves as a proxy for the market value of the price. The most common use of ARV is in house flipping, when an investor buys a distressed house, fixes it up then sells it, typically within a year. ARV is the sum of the purchase price plus the value of the renovations.  If the property hasn’t traded recently, an appraiser can still estimate a market value by benchmarking it against peers with similar locations, structures and lot characteristics.  (Sharestates.com, 2022)