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Updated almost 5 years ago on . Most recent reply

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105
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Jeffrey Grieshop
  • New to Real Estate
  • Coldwater, OH
61
Votes |
105
Posts

SFH split into two versus naturally built duplex

Jeffrey Grieshop
  • New to Real Estate
  • Coldwater, OH
Posted

What my title and description state, please help. I am trying to run some comparables and get a good feel for how I should be comparing these two's values. I think a structured duplex should be of bit more value. They were built as such so the rooms should have a better aesthetic as a whole or layout, correct? Often times duplexes come with two garages and a hacked SFH may not, so I am aware of the value of an extra garage. That is of $10k value or so, agree or disagree? I think that's about where Anson Young placed the price of one in a video or discussion I saw from him(Denver area market). Heck, it might have been upward of $20k, I now forget.

Please help with the original subject though. Let's say we have identical multifamily buildings, units of 2. Literally identical in year built, sq ft, condition, location, etc. However, one is a duplex with one extra garage and the other is a hacked SFH, which value comes in higher? at what percentage?   

Most Popular Reply

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2,270
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885
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Hai Loc
  • Specialist
  • Toronto, Ontario
885
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2,270
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Hai Loc
  • Specialist
  • Toronto, Ontario
Replied
Originally posted by @Jeffrey Grieshop:

What my title and description state, please help. I am trying to run some comparables and get a good feel for how I should be comparing these two's values. I think a structured duplex should be of bit more value. They were built as such so the rooms should have a better aesthetic as a whole or layout, correct? Often times duplexes come with two garages and a hacked SFH may not, so I am aware of the value of an extra garage. That is of $10k value or so, agree or disagree? I think that's about where Anson Young placed the price of one in a video or discussion I saw from him(Denver area market). Heck, it might have been upward of $20k, I now forget.

Please help with the original subject though. Let's say we have identical multifamily buildings, units of 2. Literally identical in year built, sq ft, condition, location, etc. However, one is a duplex with one extra garage and the other is a hacked SFH, which value comes in higher? at what percentage?   

Couple of variables.. depending on which part of the country you are the hacked SFH can likely be a basement apartment.. above grade sqft is rated much higher than below grade.. if this is the case more than likely the purpose built duplex will have more value.. however if the SFH is all above grade it will be how well its converted and units are divided.. personal on a converted duplex I would prefer a side by side vs upper lower split because having a tenant above you with potentially lousy structure floors is super annoying for the lower tenants.. being split with a party wall is much better and also the fact if there are separate utilities.. the worst if when you have to come to an agreement to split 1 bill..

Hope these scenarios answer some questions..  

No real % I can give..  

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