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Updated 16 days ago, 12/13/2024
Subdivided 2-Story Rowhouse Listed as SFH into 2-Family
I recently purchased a 1500 SF two-story rowhouse in New York with a building class designation of Two Family Dwellings - Brick (B1). My partners and I subdivided the property into two distinct rental units:
- Unit 1: 2 BR / 1 BA
- Unit 2: 1 BR / 1 BA
Given this setup, the property is now being used as a multifamily dwelling. Should an appraiser compare it to other two-family properties in the area?
Our initial appraisal compared the property to single-family homes within a 3-mile radius, which seems inaccurate given the current use. Any insights?