Appraising SFR with 2 adus challenges

[CA123]

Doing a purchase appraisal for an SFR with 2 ADUs in San Bernardino county. Main house is 950 2/1 ADU is 500 SF 1/1 Jr ADU is 300 SF 1/1

My question is this. There are no comparables like the subject that have closed in the entire city going back 2 years. I checked SFR and 2-4 units. Nothing even similar. 1 duplex, and 3 4plexes is all that has closed in the past 2 years. I went out 5 miles and still no comps.

what is the next step?

 

[sputnam]

Go out 10 miles. 20 miles. To another city. Older than 2 years.

If there are truly no sales of similar properties, there is no next step for sales comparison. My experience though has been that there are always sales. Not ones I'd consider good comparables.. but there are sales. When there really are insufficient sales of properties similar to the subject, that's not an appraiser fail. It is the truth of the market. Nothing you can do about it.

 

[J Grant]

Is your application a URAR form which means it might go to Fannie? They do not accept 2 ADU with a SFR.

It sounds more like a 3-unit income property- is an SFR with 2 ADU legal in the area? It might be legal in teh area but Fannie still won;t loan on it far as I know, if a private client then they might loan on it and look for a SFR with than ADU and an outbuiling /det garage and or a cost approach on a 300 sf building as a contributory value. Go back 3 years and 10 miles out as well in a comp search