Sandra Koutsopoulos
Senior Member
- Joined
- Jul 13, 2005
- Professional Status
- Certified Residential Appraiser
- State
- California
I use the actual paid rents.
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Multi-Unit Idea
- Thread starter ZZGAMAZZ
- Start date
George Hatch
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified General Appraiser
- State
- California
I search Craigslist, MLS, Apartments.com, old listings, etc.
In this region
it's common for 2-4s to be partially owner occupied or family occupied, or for the comps to have vacancies. Gotta be careful about assuming those rents reflect what the hypothetical buyer for your subject can assume for this property.
In this region
it's common for 2-4s to be partially owner occupied or family occupied, or for the comps to have vacancies. Gotta be careful about assuming those rents reflect what the hypothetical buyer for your subject can assume for this property.
Airstream
Senior Member
- Joined
- Mar 27, 2022
- Professional Status
- Certified Residential Appraiser
- State
- Wisconsin
I will use the actual paid rents IF they are market rents on the income approach. Often people that live on one side of the duplex they own are simply looking to offset the mortgage, and if they have a good renter that takes care of the place they will keep the rent lower to not upset the apple cart. A good renter can be a blessing in not having to spend money on upkeep, maintenance, and there is a high value on having a good neighbor. I would rather determine market rents by using data from true investment properties.