Comparative value question

[diverdan66]

I know this is very vague but can anyone give me an idea of whether there is a “rule-of thumb” on the difference of value between an interior townhouse unit, an end unit, and a single family house IN a development and one on a “spot lot” with all things (age and product and condition) being the same?
E.g.: If an interior unit is worth 500k is an end unit worth 550k? And if that model is true would a single family in a development be worth 100k OVER the end unit (650k) and the house on the spot lot only be worth 50k over the end unit (600k)?
Also, what would the value of these products if they were in a residential zone but on a highway?
Thanks

 

[sandpiperapp]

In general an end town house unit is usually more desirable than an interior unit. The value difference is market driven and specific to your market.

All other value questions you asked are specifically market driven and cannot be answered in a general way.

The highway does normally exert a negative external influence on value. How much is specific to your market.

 

[Riick]

^^^
Adding to the above, you might be surprised how *little* extra an end-unit brings.

/

 

[Terrel L. Shields]

There is no "rule of thumb". Appraisers work with the data they have and often eschew making an adjustment if they have no supporting evidence. In some cases, the issue is so clear that they do make a subjective adjustment but in general they do not.
In the small condo community I know, the end unit won't make any difference in value. A stand alone unit might bring more in general however but typically here there is a quality difference as well between row houses and "footprint" PUD homes.

The amount of traffic may impact the value but again, as already pointed out, much is very very specific to a property and often difficult to vet.

 

[eld2310]

There is no rule of thumb, sorry. The only way to put a number on the value of an end unit versus an interior unit is by comparing two such units in the same project that sold at about the same time (assuming all else is equal which is rare unless you're talking about new construction where all units are exactly the same). That number would not automatically apply to units in a different project because the market may react differently in each.

Going on to apply that difference in value (if any) to a free-standing house can't be done because that would be comparing apples to oranges. You have to compare like to like. As for the highway, again you would have to compare historic sales of similar properties that are both on and off the highway to derive a value difference.

If it were as simple as having a cheat sheet that says "$50k for each wall that isn't a common wall" or "$X for highway proximity", then they wouldn't need us.

.

 

[Walter Kirk]

Sorry, no "rule of thumb" its all market driven. Although end unit townhouses would seem to be more desireable I know of one respecter real estate advisor who claimed that interior units were the better investment as their maintance and utility costs are lower.

As to a property located in a development vs a spot lot, there are some buyers who do not want to buy in a development!