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four family help

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blondie

Thread Starter
Freshman Member
Joined
Aug 7, 2007
Professional Status
Certified Residential Appraiser
State
Ohio
any opinion on using 3 family comps if 4 family sales are not available? (searched back in time 2 years from date of inspection) if so, should there be adjustments for bedrooms and baths or units as a whole?
 

Louis Pompeo

Member
Joined
Nov 23, 2007
Professional Status
Certified General Appraiser
State
Mariana Islands
Price "per unit" is probably your greatest indicator of value.

If 3 family's are selling for $150, then your 4 family is probably worth $200 (give or take)
 

blondie

Thread Starter
Freshman Member
Joined
Aug 7, 2007
Professional Status
Certified Residential Appraiser
State
Ohio

Chris White

Sophomore Member
Joined
Nov 16, 2004
Professional Status
Certified Residential Appraiser
State
South Carolina
You can use 3 family comps and price per unit, but make sure you include a 4 family 4th comp even its older and far away.....less chance of stips
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
plus currently Contracted & Listed 4fams.
 
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