How to find comps for properties w/ADU

[Nicholas Williams]

Hello!

I'm looking to house hack by converting a detached garage to an ADU. My town may be opening up permits for this soon, so I'm trying to prepare for the best case scenario where ordinances change to allow ADUs in the near future. My strategy is to short term rent the ADU.

I'm trying to understand the value of the property after adding the ADU so I can start shopping around for financing. What sites or approaches can I use, given my town has not permitted construction of ADUs historically, but there may be some non-permitted ones out there?

[Preston Dean]

Hey Nicholas, 

Typically a realtor will be able to help run comps for you with a back ADU. At least in Texas, and the MLS I have access to I can do that.

The only down side is that appraisers most likely will not consider the ADU into the property value if the main house/lot is zoned as a SF vs MULTI.

We ran into this issue here in Fort Worth & my client purchased a property with a back ADU but the appraiser would not count the ADU as part of the property value. He gave it the same value as a back shed.

Reason being is because the lot was zoned for single family use and having the back ADU made it a multi family use.

So be aware of that!