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Private road

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Edward OConor

Member
Joined
Apr 27, 2006
Professional Status
Certified Residential Appraiser
State
New York
I did an inspection of a Illegal 2 family house on a private road in Inwood (nassau). I had no idea that they still existed in Town of Hempstead???

I had no indication (until I asked the owner) on any of the data services that it is a private road. The owner stated that there is no maintaince agreement (written or oral) with the other owners.

Obviously pared sales are the best way to go. Absent any information on other sales on private roads, any suggestions as to how to adjust for public roads?
 

jeanwillick

Junior Member
Joined
Jun 2, 2003
Professional Status
Licensed Appraiser
State
Michigan
We have quite a few private roads not maintained by the county. They don't have any real impact on value here.

I use the following:
Site is located on a private sand/ gravel road. There are many private roads throughout this market area; they are maintained by the private property owners. These private roads are common and widely accepted in this market area.

You might check with your county road commission for other private roads and try a MLS search for solds on those roads.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
SUGGEST calling both departments below and get a list of all private roads in the Town; expand search parameters beyond 1 year and.....investigate actives and contracted listings as well, including Assessor records by STREET/ROAD.

Town of Hempstead Highway Department during regular business hours at (516) 489-5000 or after hours to the Department of Public Safety at (516) 538-1900.
 

REM sleep

Sophomore Member
Joined
Oct 23, 2007
Professional Status
Certified Residential Appraiser
Private Roads

You do not neccessarily have to adjust! I know this is the opposite end of the earth, but there are many private roads in Bayville that are privately maintained by each little block association and I have never made any adjustments because there did not seem to be much impact block to block.
Also, the roads may be inferior to other publicly maintained roads, but unless there is a pothole big enough to swallow up your car, the roads are, at the very least, passable. I would research it, disclose it, explain it and move on. :new_smilie_colors1:
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
Town of Hempstead Highway Department during regular business hours at (516) 489-5000 or after hours to the Department of Public Safety at (516) 538-1900.

Good luck with them Ed...:rof::rof:

If you were in Lattingtown or somewhere equivalent it is no big deal.In Inwood? damn, that is a very tough one. It certainly would have impact but decifering what it would be seems damn near impossible without being purely speculative. Good luck.
 

KenRossman

Senior Member
Joined
Oct 20, 2004
Professional Status
Certified General Appraiser
State
Florida
If the subject is on a private road in an area that is prone to flooding, the impact upon value could be significant.
 

TianaR

Freshman Member
Joined
Jan 21, 2008
Professional Status
Certified General Appraiser
State
New York
You could check with the Town of Hempstead Highway Department and see if it is really a private road. Ken made a good point that the road may flood, or be difficult to drive over in the snow. On the reverse side it may offer privacy b/c it's located off a road. If you choose to make an adjustment I would make an access adjustment. Out East I see this all the time and make no adjustments. Inwood is a completely different market.
 

Edward OConor

Member
Joined
Apr 27, 2006
Professional Status
Certified Residential Appraiser
State
New York
Street report

FYI:

The Town of Hempstead charges $30.00 for a street report. m2:
 

KenRossman

Senior Member
Joined
Oct 20, 2004
Professional Status
Certified General Appraiser
State
Florida
What do you get for $30?

FWIW, I think Narrow Ln in Inwood is a private rd & there was a sale there in 06'
 

Edward OConor

Member
Joined
Apr 27, 2006
Professional Status
Certified Residential Appraiser
State
New York
What do you get for $30?

FWIW, I think Narrow Ln in Inwood is a private rd & there was a sale there in 06'

I believe a letter stating whether it's a private road and probably the town seal.

I'll check on the 06 sale, mine is on the same street. Can't be the same house though my last sale was 1988.

Thanks for the help.
 
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