Opinions For An Adu?

[Tom4value]

Hi Tom, Thanks for the input...as I noted, there is no recognition in public records for this unit, and as constructed more than 20 years ago, permit data in this unincorporated area may not be available. What additional info. could I get from building department? If I am assigning any value, it would be very conservative, due to almost lack of data, but the one comp I do have also has the same status of having its secondary, detached home not recognized in public records...

Sorry, I took "public records" to only mean Assessor's records. If you checked with the Building Inspector and they said they don't have any records AND they didn't have a problem with it, then you are fine. You did your due diligence. You have one comp and if there is no other data, you can certainly use this as your support for the adjustment.

 

[Tom D]

if the adu space is actually rentable, then the value can be calculated using capitalization of the rent, verses what a 2 car garage would rent for. the difference is the increase in value of the conversion. this would determine if the conversion had a positive affect on value.

however, in finishing the garage you lost the value of having a garage, so you made a negative adjustment on the comps that had a garage. so, in affect, if you make no adjustment for it being something else, then it has caused your property to have lost value, having a negative affect. .

just another thought after reading more thoughts on it. positive, negative, or a wash adjustment. it's a big item.