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Updated over 1 year ago,
Valuation vs. Appraisal for Triplex with long-term and AirBnB units
I have a property that I'm struggling to price for sale. Currently it has a duplex with long-term renters, and an above-garage dwelling unit that was converted from long-term rental into a successfully operating AirBnB. Pricing this property by square foot negates the entire income of the AirBnB, and converting it to a long-term would reduce the income and further reduce its value.
My concern is that listing it on the MLS with an 'accurate' / higher valuation (based somewhat on CAP rate for the AirBnB) would not appraise well when compared to other triplexes that are all long-term rentals in the area.
Does anyone have experience getting accurate valuations for these types of mixed properties?