Homestead
Sophomore Member
- Joined
- May 11, 2007
- Professional Status
- Certified Residential Appraiser
- State
- Hawaii
Any suggestions on this one would be greatly appreciated -
I am working on an appraisal on the island of Kauai in Hawaii. I know that most of you do not have experience on islands, however, I am looking more for where else do I go when there are no comps. Jumping islands really does not work because each island has its own market.
Situation: 4 small homes on one lot - all legal with regards to zoning, etc.
No sale of any 4 unit properties on the island in over a year. The only sales for 2-4 units in the last 12 months are 2 unit properties. No active listings either.
Income approach is not any easier as there is very little information on rentals for multi-family properties available here.
Any thoughts????
I am working on an appraisal on the island of Kauai in Hawaii. I know that most of you do not have experience on islands, however, I am looking more for where else do I go when there are no comps. Jumping islands really does not work because each island has its own market.
Situation: 4 small homes on one lot - all legal with regards to zoning, etc.
No sale of any 4 unit properties on the island in over a year. The only sales for 2-4 units in the last 12 months are 2 unit properties. No active listings either.
Income approach is not any easier as there is very little information on rentals for multi-family properties available here.
Any thoughts????