Comps for Studio Apartment

[Benjamin Danard]

Hello everyone,

I'm looking into buying a 4-plex. This property is located in central CT. It contains two 3 beds 2.5 bath houses and two studio apartments. 

looking at Zillow and other sites in not seeing a comp for a studio apartment. How do you determine what the comp on something like this should be?

is this a sign that studios do not to well in the area? the town is known for families and is on the pricier side. would it make sense to combine these apartments as extra bed/bath for the main houses?

[Benjamin Danard]

Thank you all for your feedback. It's very helpful.

Hello Steven. This is in Cheshire.

That's an excellent point about limited supply of housing in the suburbs Michael. The property is close to Waterbury, Meriden, and New Haven so I imagine there will be an appeal for young professionals.

Thank you Filipe. That's an interesting idea for Airbnb. I would imagine it would be a lot to manage. I do agree that high turn over will be something I would need to manage. I'll factor in higher turn over for them in my analysis.