Denver, CO Questions

[Trey Foradory]

Hello fellow BP members!

I'm looking for insight preferably from investors in Denver and surrounding areas: (Littleton, Englewood, Centennial, Westminster, Arvada, Thornton, Wheat Ridge, Etc.) but welcome insight from anyone.

1. I'm currently working a deal in which the property has 2 houses on the lot.  Both houses share the backyard but also have their own private street entrances so neither occupant has to go through the others entrance.  How do you value the property in this situation?  What would you use as comparable properties if there aren't any in the area in this situation that have sold?  I've got a good value on the property if it didn't have the 2nd house but haven't run into this situation before.

2. Also, I'm interested in the average/typical costs involved with adding square footage to the house.  I know every house brings its own "surprise/special" costs so I'm just looking for a reasonable ballpark pricing.  Denver area investors: What is the estimated cost of adding square footage to the house?  I've seen several houses nearby that had large add-ons which really increased the value and has peaked my curiosity on the costs.

Any other information, tips or suggestions would be greatly appreciated.