Md Barnmaster Used Barns?

[Tim The Enchanter]

So, I have a subject in a horse property part of town, Shadow Hills.
They have a 24' x 36' barn, 3 stalls, Dutch doors inside, tack room, and center aisle with dirt floor.
The owner / seller tells me there is a market for used barns, yes they can be moved, but it stays.
It seems pretty solidly attached to ground although I saw no concrete. Probably a big job to take apart and move.

I'm not sure at this point what a new one would cost, but am thinking it might be considered personal property.
But maybe not. Guess I should see if the contract mentions it. Tis a FSBO to a neighbor, reasonable looking contract price for once, Horse facilities like this seem pretty minimal value to me, but what do I know?
Comments please from the peanut gallery?



Here's their web site. Who puts wood floors in a barn?

http://mdbarnmaster.com/

 

[Terrel L. Shields]

am thinking it might be considered personal property

Unless they intend to disassemble and move it...its part of the real property. The RCN can be calculated from NBC or Can likes to use the CA assessors cost manual which is probably about as close to "right" as possible. One adjustment is cost related, and so calculate the Depreciated Cost New, and you have a possible answer. Try picking out a few sales with and without barns and look for differences in that Shadow Hills area.

 

[J Grant]

From the exterior photo looks like a pretty basic no frills barn, like their lower price series. Which goes with the pipe coral, dirt etc...a basic horse facility not fancy. Horse people look at the total quality of facilities , and a buyer for a casual no frills equestrian set up is a different buyer that wants top of the line facilities.

If it is attached to a permanent base looks like part of RE but if modular structure allows easy dis assembly that creates a question. In any event, there it is , usable and in place.

I wouldn't value it by cost though one can look up cost to get a base line, I'd value it as part of the equestrian "package", which due to basic level may be low (10-20k perhaps)...but it has to be true of your market area and best way to do that as T noted is compare properties with equestrian facilities to non equestrian . Some buyers who do not keep horses convert the barns to workshops or vehicle storage so they can have value outside of barn function. This building looks well suited to that.

I have never seen a wood floor in a barn esp not in stalls would get rotted with urine unless it is treated with some special coating? Maybe on the aisles or walkways...but the usual is hard packed dirt in the stalls with cement on the aisles with rubber mats on top for footing.

 

[J Grant]

Your best comps are similar acreage properties esp if they have barns and corrals. I don't make $ for $ adjustments about small differences in barns such as 2 stall vs 3 stall, however if a barn and fencing is of much higher quality or substantially larger, and a higher sale price reflects a premium for that I will adjust because it was market recognized.

 

[Mark K]

They have a 24' x 36' barn, 3 stalls, Dutch doors inside, tack room, and center aisle with dirt floor.
The owner / seller tells me there is a market for used barns, yes they can be moved, but it stays.

24' x 36' "barn"? Maybe in that area but around here that's a glorified shed, on a good day. And just because it can be moved doesn't mean it should or that its feasible to do so. I'm sure the house is also moveable, not sure it makes sense though.

I'd use a depreciated cost approach for the contributory value if there's no comps w/shed-barns. Around here a functionally similar shed would cost about $12-$13/s.f. plus stalls at about $750 - $1,000 each. 40 year economic life is reasonable.

 

[Michigan CG]

24' x 36' "barn"?...........................

I'd use a depreciated cost approach for the contributory value if there's no comps w/shed-barns. Around here a functionally similar shed would cost about $12-$13/s.f. plus stalls at about $750 - $1,000 each. 40 year economic life is reasonable.

I agree with this guy although I think it is 30' wide and most likely 1,200 SF. Cost is about $12/SF around here. Total cost $14,400 to reproduce. So it is worth something in between $0 and $14,400.

 

[Tim The Enchanter]

The seller says it stays, but there in nothing in the contract.
The contract is 1 page, not the standard Assn of Realtors 10 page form.

The lot is a little under 19,000 SF, not acreage. The 'hood is pretty small, not much data.
I looked in adjacent similar but smaller La Tuna Canyon, and got nothing.
The horse facilities are not a big part of the value, considering it's north of $500k.
It doesn't look to be 100% weather tight around the doors.
A dirt floor garage would be unusual at the least.
Cost will probably be better support than trying to compare barn to no barn.

 

[Terrel L. Shields]

On a half million dollar property its probably just an ornament on the tree.

 

[J Grant]

More like a glorified shed they are putting horses in . I'd compare it, if you find comps with workshops, extras garages or any other outbuildings, being that teh acreage is so small. Zoning for horses might appeal to some others wouldn't care. Cost approach fine, a low value item however one looks at it.

 

[Tim The Enchanter]

On a half million dollar property its probably just an ornament on the tree.

If someone buys property in the area and likes horses, They can probably afford to build their horse facilities. There are mountain trails around to ride, so not like they are trapped there on smallish lot. If it was acres it might be into the 7 figures.

I'd compare it, if you find comps with workshops, extras garages or any other outbuildings, being that teh acreage is so small. Zoning for horses might appeal to some others wouldn't care.

I actually have 1 that has a barn, 2 sheds, turnout. Plus a couple listings that say good for horse lover, but apparently there are no facilities.
Some don't care is true. Maybe they like the large lots for not super high prices. Could be because the 'hood is next to a heavy industrial area and landfills in the flats.

Last job I did here an old listing said horse facilities. Turned out to be a pair of sheds maybe 10 x 10 each, 1 with a dirt floor.
Ghetto horse facilities.