2 Houses On One Lot / Duplex / 2 Addresses W 1 Apn

[WAW]

I'm looking for some guidance on how you appraisers approach a property like this.
The property profile shows Duplex 1125 square feet. There are two houses on one lot. The house that is 1125 is the main house but the address of this house is not appearing on the property profile. The smaller house whose address is appearing on the property profile is 800 square feet but the square footage of this house doesn't show up in the total square footage. When appraising the property,
Will the total square footage and room / bath count of both units be combined, 1925 square feet be used for the appraisal or just the main house 1125?

 

[Artemis Fowl]

What property profile do you refer to?:
Zillow?
CU?
County/Assessor?

Based on what you describe I would likely approach it as a house with an accessory dwelling unit. Duplex (to me) implies a structure with 2 identical units. I picture a structure with 2 identical units plus a 2nd detached structure with an additional unit. So 3 units. I would hazard to guess that income is going to be relevant to value.

No matter what's going on there I would think that combining features of 2 detached structures is not going to happen.

 

[CANative]

The larger house would likely be considered the primary residence. The smaller house would likely be considered an accessory dwelling unit. The report would show the primary's GLA of 1125 sf and the ADU would be described separately. In the adjustment table (where the comps go) the ADU would appear on the basement line (maybe) or in a separate row at the bottom of the table.

On the other hand, highest and best use might indicate that this is a two unit income property. In that case the rentable are would be the combined GLAs.

 

[Tim The Enchanter]

We have lots of duplexes like that. I have one now. Use shows duplex, 1 house built 1903, 843 SF and 1 house built 1923, 865 SF.
I would compare them to attached duplexes if need be.

 

[Michigan CG]

In my market they are typically income properties and they are valued using an income approach. YMMV.

 

[Howard Klahr]

Duplex (to me) implies a structure with 2 identical units.

Not a requirement to be defined/classified as a duplex

 

[Meandering]

I'm looking for some guidance on how you appraisers approach a property like this.
The property profile shows Duplex 1125 square feet. There are two houses on one lot. The house that is 1125 is the main house but the address of this house is not appearing on the property profile. The smaller house whose address is appearing on the property profile is 800 square feet but the square footage of this house doesn't show up in the total square footage. When appraising the property,
Will the total square footage and room / bath count of both units be combined, 1925 square feet be used for the appraisal or just the main house 1125?

There are two houses on one lot.
a two unit, use form 1025
This form is not required by Fannie to be in UAD format
https://www.fanniemae.com/content/fact_sheet/uad-overview.pdf
Your client may still want it in UAD format.
GLA is reported both separately per unit and together as Gross Building Area.

What is the property profile? A 3rd party thing? the tax records?

 

[WAW]

There are two houses on one lot.
a two unit, use form 1025
This form is not required by Fannie to be in UAD format
https://www.fanniemae.com/content/fact_sheet/uad-overview.pdf
Your client may still want it in UAD format.
GLA is reported both separately per unit and together as Gross Building Area.

What is the property profile? A 3rd party thing? the tax records?

Third party profile from Fidelity National Title, Passport.

 

[WAW]

Thanks everyone for your input.
I appreciate it.