The reliable evaluation of the coefficient of variation (COV) of soil properties is required for the determination of adequate design values and the application of a probabilistic method for the design of geotechnical structures. In this paper, the applicability of methods for estimating the standard deviation, such as the. Three-Sigma Rule and a statistical method, is evaluated by using site investigation data of the Songdo area. It is found that the Three-Sigma Rule provides similar results to those of a statistical method when using $N_{sigma}$=6 for the property with small variability and $N_{sigma}$=4.2~5.3 for the property with large variability. It is also observed that, for the undrained shear strength that has an increasing trend with depth, a $N_{sigma}$ value of 4 is adequate for the evaluation of the variability by the Three-Sigma Rule. The COVs of soil properties determined in this paper could be used in the estimation of the confidence interval and characteristic values of soil properties.