How does zoning affect comparable sales data?

[Guillermo Yunez]

Hi everyone,

I'm in the process of closing on my first rental income property, the inspection will be done in a few days. While comparing real estate sales in the last six months in the area nearby and by speaking to my agent, it looks like the property will appraise 15% lower than my offer due to the market in the area. I already knew this before the offer and have the cash to pay for the difference if the property appraises lower.

It is an area with little recent sales but highly desirable (new big investors started buying nearby). The price of the property will definitely rise in the next few years (estimated at 10% in South Florida).

My question is: can I compare recent sales with similar homes but different zoning laws? Will the appraisal use that data? It will make a big difference since there are two homes with  different zoning laws (industrial) that sold at a much higher price than the rest. The zoning for my purchase is duplex.

Thank you!