Suggestions on how to handle this?

[bsharf24]

Any input is appreciated. I will lay out the scenario.

There is a house that was originally as a duplex some time ago, as were many of the homes in the neighborhood. The homes in the area have been converted to single family.

The front door of the house enters into one side, which has a living room, bedrooms, and a kitchen. The side door enters into the other side, which has a living room, bedrooms, and a kitchen as well. The owner is currently renting one side to a family member. The sides have a door between them, so both sides can be accessed on the interior.

The property is zoned single family residential and has one meter, gas line, etc.

I have my thinking on how I will handle this but wanted to make sure it coincides with some of the appraisers on here. Thanks in advance for any input.

 

[Meandering]

Does the zoning allow for 2 family use?

Right now, it's two family use because even though the parties are related, they are still two different parties.

If cousin Joe living on the left side of the house burns it down, owner Mike living on the right side is the one who gets the insurance and the land and answers to the mortgage holders.

Even though some 2 families are being converted to SFR does not sound like this one has. If the interim highest and best use is SFR it DOES NOT MEAN YOU CAN CONDITION YOUR REPORT FOR CONVERSION TO SFR.

I can't say that one enough times.

The concept is ANTICIPATED FUTURE BENEFIT.

So if it is a two family, would it in the future be more valuable than a SFR? Most often the answer is yes.


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[Beurre Noir]

There is a house that was originally as a duplex some time ago...

There is a house that is a duplex.

Fixed that for you.

Proceed.

 

[marc paolella]

It's still physically what it was, therefore it remains a duplex. It could be a legal non-conforming use, a legal use, or even an illegal use, but it is what it is. A duplex.

 

[bsharf24]

It's still physically what it was, therefore it remains a duplex. It could be a legal non-conforming use, a legal use, or even an illegal use, but it is what it is. A duplex.

This was my thinking as well and what I told the client. Thanks for the input and backing though guys.

 

[Valuadora]

No, I don't think it is a duplex anymore, because of the door that connects the units from the inside, thereby breaking the firewall. Get a little more information from the building department and contact your client with the problem to see if they want you to continue (with the truth, an extraordinary assumption, or a hypothetical condition) because it might not be what they expected and completing the appraisal without further direction might not solve their problem for which they ordered the appraisal.
Nancy

 

[PropertyEconomics]

No, I don't think it is a duplex anymore, because of the door that connects the units from the inside, thereby breaking the firewall. Get a little more information from the building department and contact your client with the problem to see if they want you to continue (with the truth, an extraordinary assumption, or a hypothetical condition) because it might not be what they expected and completing the appraisal without further direction might not solve their problem for which they ordered the appraisal.
Nancy

Many doors have a fire rating far in excess of two layers of drywall and an air space .... Im just saying.