Valued or estimated from the Realtor/agent who put it on the market I guess. It hasn’t gone through an appraiser, because it hasn’t gone through a sale, am I right?
I know other houses on the same street, same or about square footage, with the same or simular features have fetched as much(515k) at the height of the market, 05/06.
They bought in the early 90’s.
There are NO houses for sale comprable in the 300k price range- unless you are looking for a house in Watts, that’s ridiculous.