Newbie here with a question regarding property values.

[Dana Richardson]

I live in Florida and am interested in buying a triplex that is one block from the beach as a weekly/monthly rental.  It is over priced imo and has been on the market for over a year with a realty company starting at $650K.  Now after one year the owner is doing a buy owner sale and it is down to $450K  She bought it for $150K in 2000.  My question is this.  I found a 3/3 stilt home built in 2000, that is literally one block away from this triplex that has a little larger lot that sold for $355K  two months ago.  In comparing property values, would a triplex be valued higher then a single home since it is income producing? 

(Triplex 3/3 has wood structure built in the 30's with smaller lot and less square footage of the house that is a 3/3, built in 2000 that is a stilt home that sold for 355K.

Based on purchasing at 400K  I feel that I can cover my costs easily with a 30% occupancy rate.  I am hoping to use this property as a  reality check for the owner unless of course triplexes are valued higher.  Thank you in advance.

Anad