Rare Listing. Want to sale for More

[Salvador Fernandes]

Hi all and thanks in advance. Im talking to a landlord that owns a property in a neighborhood where homes dont really sale for approximately $3-400k than what they are looking to get. Why? because has converted the residence to adu? whats my homework, what more info can i provide here in this post?

[Patricia Steiner]

Was it a legal conversion?  Permitted?  Converting a residence to an accessory dwelling unit isn't the norm. An accessory dwelling is a secondary dwelling located on an existing property that might look like a garage, pool house, shed, office, more.  Depending on the market, these additions can add a lot of value if supported by comparable sales.  

First step is to clearly understand the property.  What is it?  What is it size, lot size, zoning?

As all the conversions been permitted?  Are they legal to rent?

What is the property worth?  What are the comparable sales?  The rent doesn't matter because the value will be based on other like properties located within a mile that have sold in the last 30 days.

This doesn't sound like something I would pursue.  As you pointed out early, the other properties are not listed/selling for what this landlord wants for his.  It's not worth what he thinks it is but what the market has priced it at.

Sometimes the best action is to BOLT.  What starts out crazy will only get crazier.

Best...