Can a duet house to be a comp of detached home?

[David S]

Got a call from an individual to request a private appraisal. The subject is a regular single home ( detached) but back up by a busy railroad. I find a sold duet house (or attached home) nearby also back up by that railroad. Can I use this for the comp? Both are single home, right? Maybe apply 5% discount in Design (Style) grid? Due to low sales volume, I couldn't find another sold comp with adverse condition (like next to highway, or has other negative factor) nearby or have to go 3 miles away. I am in suburban area. Thanks!

 

[shrubberyvaluation]

Would a typical buyer consider it as an alternative? Why 5%? You can use it to extract the external obsolescence without using it as a comp in the grid. Most people ordering privates are not so demanding about bracketing. If you need more info on the external obsolescence you can also look at prior sales of the subject and compare it to other comps sold at the time. This can be more reliable since it has the same distance from the tracks and/or crossings. Ive also noticed that people living in townhomes tend to care less about external obsolescence.

 

[Fernando]

Of course you can use it as a comp.....like Comp #7.
For Comp #8 why don't you use a SFR comp similar location but older dated and adjust for time difference?

 

[J Grant]

Got a call from an individual to request a private appraisal. The subject is a regular single home ( detached) but back up by a busy railroad. I find a sold duet house (or attached home) nearby also back up by that railroad. Can I use this for the comp? Both are single home, right? Maybe apply 5% discount in Design (Style) grid? Due to low sales volume, I couldn't find another sold comp with adverse condition (like next to highway, or has other negative factor) nearby or have to go 3 miles away. I am in suburban area. Thanks!

extract an adjustment for it and do not use it ( imo- it is a different housing type )

For a private appraisal, we do not need to barcke the way we do for a lender appraisal with the influence of the RR track. A busy road or other influence can be a proxy for the RR track with a comp btw.

 

[sputnam]

The short answer is... yes, you can. I wouldn't.. but, you can. A better approach would be to use the duplex sale as data to extract the adjustment for proximity to the railroad.

 

[Red Flint]

Google search duet home

AI Overview

A duet home is a single-family home with two residences built on the same property, where each side is sold separately. They are also known as side-by-sides, twins, or Geminis.

Duet homes are similar to townhouses but are usually larger and only attached on one side. They are different from duplexes, where one owner owns both sides of the building. (nnnnhhh sound - error)

Here are some things to know about duet homes:

• Shared wall

Duet homes are often connected by a shared, fire-rated wall.

· · HOA dues

Some duet homes are part of a homeowners' association (HOA) and may have dues. HOAs may manage shared expenses like re-roofing or re-paving a driveway.

· · Sectional title units

Duet homes are sectional title units, which are administered by the Sectional Titles Act, the Sectional Titles Schemes Management Act, and the Community Schemes Ombud Service Act.

· · Finding duet homes

Duet homes may appear as condos, townhouses, or single family homes on MLS. A preliminary title report can also help determine the type of ownership.

Generative AI is experimental.

 

[The Bob]

I'd be careful assuming that it impacts value. When I first started appraising a I had a couple of similar cases. Guess what? No adjustment. I think partly due to these lots were usually really deep.
As an aside, I was raised one block from a RR and you get used to it. It's not like a busy road with constant noise.

 

[Mark K]

I'd be careful assuming that it impacts value.

RR tracks and other offsite issue are often items of more concern to appraisers than to buyers. Also, it depends on the price range of the home.

As an aside, I was raised one block from a RR and you get used to it. It's not like a busy road with constant noise.

This immediate area is affected by a lot of noise from the airport. Some areas are affected to the point where the airport will buy your house if they determine its in the 'noise impacted' areas. No big deal, no discernible price difference. Its more of a binary choice. 1. Buyers don't mind. or 2. They won't buy at all. Those that buy generally pay about the same $ amount as in quieter areas.

I-70 runs thru town. That noise is much worse than airplanes or trains but a lot of people build and buy within a few hundred feet of it.

 

[Sadie]

Got a call from an individual to request a private appraisal. The subject is a regular single home ( detached) but back up by a busy railroad. I find a sold duet house (or attached home) nearby also back up by that railroad. Can I use this for the comp? Both are single home, right? Maybe apply 5% discount in Design (Style) grid? Due to low sales volume, I couldn't find another sold comp with adverse condition (like next to highway, or has other negative factor) nearby or have to go 3 miles away. I am in suburban area. Thanks!

You can use what ever you want for a comparable. Should you though is a different question

 

[Tom4value]

Got a call from an individual to request a private appraisal. The subject is a regular single home ( detached) but back up by a busy railroad. I find a sold duet house (or attached home) nearby also back up by that railroad. Can I use this for the comp? Both are single home, right? Maybe apply 5% discount in Design (Style) grid? Due to low sales volume, I couldn't find another sold comp with adverse condition (like next to highway, or has other negative factor) nearby or have to go 3 miles away. I am in suburban area. Thanks!

To your first question, I have to say the political answer, “depends on your market”. My THOUGHT, is that since you have low volume, a typical buyer would be forced to at least consider an attached home so yes, you can use it. As to the 5% discount, if I were reading the report, I would want to know why. Do you have sales data to support 5%? Did you POA? If the first answer is No and the second is Yes, then don’t adjust. Better to not adjust, explain why and give it less weight than the detached comps.

Regarding the railroad externality, remember, you don’t have to have a comparable to your subject for matched pairs to extract an adjustment. Find a sale, any sale adjacent to a railroad. Go as far away/as far back as you need to find one. You then compare that sale to others like it without the railroad location. You can either extract a dollar amount or, if it is really out of whack with your subject, use a percentage adjustment and apply it to your comparables. Of course, explain in detail what you did. No, it is not ideal but at least it is credible.