Appraising a Duplex or Triplex

[Mehul Shah]

Recently I purchased a fully occupied duplex in Houston TX. I am looking to implement a modified BRRRR strategy and cash out refinance it. In order for this strategy to be successful hangs solely on the appraisal. Finding recent comps have proven to be difficult as there no other duplexes in the area. From an appraisal stand point, how would be the value differ or not from a single family home. In my opinion a cash flow duplex should be appraised differently than a single family home, but I am not familiar with the process. Has anyone else gone through this process? Any appraisers out there that can shed some light on this topic? Any advice would be greatly appreciated.