Duplex or not Duplex

[Gtary]

I am working on an order that has a regular split level home and then a manufactured home on the same property. The homeowner wants me to consider it as a duplex, and do a small residential income report, and not as a 1004 with an ADU. The manufactured home has its own water, elect meter, sewer, and address. It is also on the same property, same deed, and same owner. What would you do in this case? The order came in as a 1004 from the AMC.

 

[J Grant]

I am working on an order that has a regular split level home and then a manufactured home on the same property. The homeowner wants me to consider it as a duplex, and do a small residential income report, and not as a 1004 with an ADU. The manufactured home has its own water, elect meter, sewer, and address. It is also on the same property, same deed, and same owner. What would you do in this case? The order came in as a 1004 from the AMC.

Owners do not dicate how we appraise-

Check with the AMC and have them check with the lender - however, IMO it could be either, and that could depend on the legal zoning - what is the zoning for the subject?

It could be a house with an ADU, or a duplex- is the manufactured house on a permanent foundation base?ds

 

[Terrel L. Shields]

It is a SFR with an Accessory Dwelling Unit. I don't care how it is zoned. It is not a duplex.

"Duplex" to me implies DUPLicate units. Usually the same size, mirror image - up/down or side by side and connected.

"A duplex is a multi-family home with two separate living units in one structure. Duplexes are often a cross between a house and an apartment, with more space than an apartment but less than a house."

Separate buildings are not "Duplexes".

 

[David S]

I am working on an order that has a regular split level home and then a manufactured home on the same property. The homeowner wants me to consider it as a duplex, and do a small residential income report, and not as a 1004 with an ADU. The manufactured home has its own water, elect meter, sewer, and address. It is also on the same property, same deed, and same owner. What would you do in this case? The order came in as a 1004 from the AMC.

Who is the client? You have to check the property zoning first.

 

[J Grant]

It is a SFR with an Accessory Dwelling Unit. I don't care how it is zoned. It is not a duplex.

"Duplex" to me implies DUPLicate units. Usually the same size, mirror image - up/down or side by side and connected.

"A duplex is a multi-family home with two separate living units in one structure. Duplexes are often a cross between a house and an apartment, with more space than an apartment but less than a house."

Separate buildings are not "Duplexes".

Duplex is kind of a RE slang- the correct term for appraisals would be a two family small income property ( vs a SF house with an ADU or simply two houses on one lot )

A two-family income property does not have to have both units be the same size or consist of one building with the units under one roof—though that is a common style for them.

 

[Terrel L. Shields]

A two-family income property

I suppose. But again, to me, if separate buildings they are simply 2 houses on the same property, no different on 1 acre as a ranch with two dwellings, or a mansion with a guest house.

 

[Dublin ohio]

Could be a 2 family detached propert. Like was previously stated. Zoning?

 

[Dublin ohio]

I suppose. But again, to me, if separate buildings they are simply 2 houses on the same property, no different on 1 acre as a ranch with two dwellings, or a mansion with a guest house.

Fannie recognizes 2-4 family detached properties

 

[J Grant]

I suppose. But again, to me, if separate buildings they are simply 2 houses on the same property, no different on 1 acre as a ranch with two dwellings, or a mansion with a guest house.

2 houses on one lot or a duplex of two-income (multi family) units on one lot depends on zoning- (and secondary perhaps design) -but HBU has to be legal -and that is legal oning to allow multi family -

 

[Terrel L. Shields]

2-4 family detached properties

But do they call them 'duplex', triplex, or 'fourplex' ?