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comps question

Started by kell74
almost 17 years ago
Posts: 1
Member since: May 2008
Discussion about
In looking for comps for a combined apt, can one look at two separate units in the same lines and add what those two units sold for to get a rough comp (assuming the two units sold at similar times) or is the value of a combined apt necessarily higher than the two separate units added (mathematically) together?
Response by front_porch
almost 17 years ago
Posts: 5316
Member since: Mar 2008

In the old days, the value of a combined apartment was nearly always higher than the values of the individual units.

Now, however, you can't even assume that, because there are few buyers who want to take on the burden of higher maintenance for the two apartments. I would at this point try to comp combos to combos, or to single units with high maintenance.

ali r.
{downtown broker}

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Response by talljaystreet
almost 17 years ago
Posts: 70
Member since: May 2008

My rule of thumb for comps is $25k sale price ~= $100/month maintenance. So, for every extra $100 maintenance chop the price $25k.

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