Two single Family Res.

[HeavyMDK]

I have a property that is zoned for 2 single family residences. I have done a thurough search for comparibles and have nothing the same. There are comparibles that are single family residences with guest houses but none zoned for 2 single family residences. I have asked my superviser how to appraise this property and he told me to appraise it as a SFR with a guest house. Appraising it as two seperate single family residences is a difference of 50,000 dollars. I'm uncertain of which approach to take. Any advice would help. Thanksm2:

 

[Mztk1]

Appraise it based on highest and best use.

 

[bart nathan]

You might get lucky and find one similar comp. Try searching in MLS for duplex's on larger lots sometimes agents list 2 homes on one lot that way.

 

[VolcanoLvr]

Heavy...

You have not really described the subject property very well.

How is it configured? How is it used (like a rental or as a guest house for family)?

More details would be helpful.

 

[Couch Potato]

Get a new supervisor ASAP.

 

[ZZGAMAZZ]

The legally permissible aspect of HBU appears to be the salient factor. If it is indeed zoned for 2 SFR's and improved as such, one might be hard pressed to use duplex or SFR/ADU configurations as comparables. High Desert Hesperia has a niche neighborhood where 2 SFR's are legally permissible, and presumably HBU although I'm a lazy boy and can't imagine trying to determine the maximally productive HBU of a parcel legally improved with 2 SFR's relative to a parcel zoned the same but improved with only one, seein' as how intuition-based assumptions are out of fashion during these conservative times...but possible one solid comp in tandem with a few other older sales as well as current SFR's and adjustments by "proxy."

 

[Mike Kennedy]

I have a property that is zoned for 2 single family residences. I have done a thurough search for comparibles and have nothing the same. There are comparibles that are single family residences with guest houses but none zoned for 2 single family residences. I have asked my superviser how to appraise this property and he told me to appraise it as a SFR with a guest house. Appraising it as two seperate single family residences is a difference of 50,000 dollars. I'm uncertain of which approach to take. Any advice would help. Thanksm2:

Which governing Municipality is the subject located in?

County, Town, City, Village?

p.s. double check the Zoning Code, often SFR, SFR w/Accessory, AND 2FR are all approved uses in a 2F Zone.

 

[Craig Farr]

You should seperate (sic) the comparibles (sic) into thurough (sic) categories so that your superviser (sic) will have a better grasp of USPAP and the concept of Highest & Best Use.

 

[ZZGAMAZZ]

Mike: Yours typically is a conservative stance; and I wonder how you would determine HBU if the 2SFR zone does indeed allow 1 or 2 SFRs but there are no current 2 SFR comps.