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Manufactured duplex?

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Mark Brunsma

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California
I have a 5 acre parcel with 2 permanently affixed manufactured homes. It is currently used as a duplex. I've never come across this situation before. Any suggestions? Client wants the appraisal on a 1025. Is this even acceptable? All multi family sales in a 10 mile radius are stick built. Any help is greatly appreciated
 

Restrain

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Jan 22, 2002
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Florida
Oooooookaaaaay.

A few notes. You have two single family units. Unless the units are physically attached, they're not a duplex, but two separate units. Second, you can do this a number of ways. You can try to find sales of sites with two manufactured homes on the property (good luck!). Or, you can take sales of sites with one home, and calculate the contributory value of the second unit (yeah, that one's gonna take work as well. How to justify the contributory value.).

The 1025 form is appropriate for the valuation of the subject.

Finally, DO NOT try to use the manufactured home form or the 1004. The manufactured home form is for a single unit. The 1004 is technically for a home with an auxiliary unit, which the 2nd home would be. However, a manufactured home is not appropriate for the valuation on a 1004 form.
 

Mark Brunsma

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Freshman Member
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Jun 9, 2006
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Licensed Appraiser
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California
Thanks for the input RStrahan. I may run for the hills on this one but it may be a good chance to tackle something complex.
 

Joyce Potts

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Sorry, I don't agree. The units do NOT have to be attached to be considered a duplex. If you have two livable units on one legal description and tax parcel number, it's a duplex.
 

PropertyEconomics

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New Mexico
In Alamogordo New Mexico there are a number of SINGLE WIDE manufactured homes that have been divided into FOUR PLEX UNITS. Essentially a 14 x 80 divided into four 14 x 20 units.

These beasts do exist out there and Im sure if one searches long enough you will find comparbles.
If not .. Id compare manufactured housing with stick built housing for a percentage difference to be applied for differences in construction materials recognized by the market. Then you could apply this percentage adjustment (downward Im guessing) to the stick built duplex comps.

This is all naturally assuming you truly have a manufactured duplex and not something else.
 

PropertyEconomics

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New Mexico
Thanks for the input RStrahan. I may run for the hills on this one but it may be a good chance to tackle something complex.


Very important word for a licensed appraiser. You may have just indicated its time for you to run or obtain the assistance of a certified appraiser.
 

Mike Plumlee

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Feb 21, 2007
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Certified Residential Appraiser
State
Texas
The very definition of a duplex is that two separate living units share a common wall. If they are separate then that does not meet the accepted definition.

Just went through this in detail trying to find a comp for a steel building duplex in Houston. Could not find one anywhere.
 

Joyce Potts

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Florida
So if you have two attached units on two different lots / legal descriptions and tax parcel numbers with two different owners, it's a duplex?
 

Annelle

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Jan 26, 2004
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Certified General Appraiser
State
Arizona
Don't forget to first check the zoning. I.E are both units legal? Do they have two different meters? And I agree, the units do not have to be attached.

And then you have the income approach to consider...
 

PropertyEconomics

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Jun 19, 2007
Professional Status
Certified General Appraiser
State
New Mexico
So if you have two attached units on two different lots / legal descriptions and tax parcel numbers with two different owners, it's a duplex?


Joyce, Im with you but I am finding that many people call a patio home or townhome with a common wall with anohter a duplex. I have seen many posts here saying they are appraising one side of a duplex.
Makes no sense to me in my market .. but apparently its different in different worlds.
 
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