One of the most important factors in the value of a home is its location. This is perhaps the most heavily weighted attribute amongst all others. A single family on a multi family street is certainly less desirable than if you were surrounded by other single family homes. Having said that, if you were to purchase this Single Family today, you would also expect to pay less than you otherwise would.
Hope this helps Ashish.
As always, feel free to call me anytime
Equity Capital Real Estate
(203) 280 3838
I agree with the other agents' comments and believe that a single-family home surrounded by multi-family dwellings will not have as much value as a single-family property situated within a neighborhood that has all similar types of homes.
I would like to add that you may wish to consider what the re-sale value might hold and how it may be more difficult to sell in the future.
Good luck to you!
Prudential Connecticut Realty
Yes, I agree with my colleague Mitch, that true value can only be determined with a complete property analysis. One could trend the available sales data for both the multi-family properties and single family homes in the area to help compare the $/SqFt, lot size, year built, condition, amenities, etc. This analysis would help bring clarity to the question of â€œvalueâ€. Of course there are many other factors to consider when choosing a new home. As a full time, licensed real estate professional who has lived in Darien for nearly 20 years, I would be happy to assist you in your search â€“ no strings attached. Just let me know how I can assist you â€“ cheers.
Stephan von Jena
REALTOR@ - Your #1 Real Estate Source!
William Pitt Sothebyâ€™s International Realty
1057 Post Road
Darien, CT 06820
Proudly servicing the Darien, New Canaan and Norwalk/Rowayton market.