1025 or 1004

[alebrewer]

I have always done a SFR with ADU on 1004.
Just because it's a legal ADU, it still not comparable to a real duplex.
Can you imagine inexperienced appraisers comparing a SFR with ADU with a real duplex.
Some ADU additions do look like a duplex but my subject still looks like a SFR with an ADU.

What, in your opinion, is a 'real duplex'?

 

[Fernando]

What, in your opinion, is a 'real duplex'?

Originally built as a duplex in multiunit zoning.

 

[Fernando]

First I told them situation that 1004 is more appropriate.
Rep agreed.
Then they still want it on 1025. Good thing I ask for a premium fee.

 

[Dublin ohio]

Originally built as a duplex in multiunit zoning.

Well you just answered you own question

 

[alebrewer]

Originally built as a duplex in multiunit zoning.

Just so I'm clear - a real duplex has to have been built as a duplex, right? No conversions? And - does zoning even matter in CA any longer? I thought the new ADU rules superseded local zoning restrictions? Riddle me this - can a duplex be two separate units or does it have to be one building?

 

[Dublin ohio]

First I told them situation that 1004 is more appropriate.
Rep agreed.
Then they still want it on 1025. Good thing I ask for a premium fee.

Here you go Fern. Not that it will make a difference

B2-3-04, Special Property Eligibility Considerations (06/04/2025)

This topic contains information on Fannie Mae’s unique property eligibility requirements, including:

selling-guide.fanniemae.com

 

[Fernando]

Just so I'm clear - a real duplex has to have been built as a duplex, right? No conversions? And - does zoning even matter in CA any longer? I thought the new ADU rules superseded local zoning restrictions? Riddle me this - can a duplex be two separate units or does it have to be one building?

Duplex can be separate units or one building. Appraisers know when it's a duplex.
Would you call a garage conversion a duplex?

 

[alebrewer]

Fannie's definition of a 2-4 property:
"two- to four-unit property
A property that consists of a structure that provides living space (dwelling units) for two to four families, although ownership of the structure is evidenced by a single deed."

 

[Dublin ohio]

Appraisers know when it's a duplex

Obviously only some appraisers

Subject is a SFR with an ADU.
Client wants it on 1025 but it should be on 1004, right?
Since they're paying me, I do as they say, right?

 

[alebrewer]

Duplex can be separate units or one building. Appraisers know when it's a duplex.
Would you call a garage conversion a duplex?

It would depend on the zoning laws (anywhere but CA) and the nature of the conversion. If zoning allowed both units to be rented (as CA does now), and if the conversion created two separate living units with no interior access, and if the market considered it a duplex, then yes - I'd possibly consider it a duplex as well.