Home Selling in Dallas>Question Details

Brian, Real Estate Pro in Dallas, TX

Are duplexes valued on the rental income or is it a combination of rental income vs recently sold? (almost no recent sales in the submarket)

Asked by Brian, Dallas, TX Tue Jun 18, 2013

I am considering selling my duplex and there are almost no comps in the area. the property has been significantly upgraded and the gross monthly rents are $2,150 per month. any advice is appreciated

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Torang | Save $1000's’ answer
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0 votes Thank Flag Link Mon Jun 24, 2013
I would suggest looking for comps for similar properties in the closest possible neighborhood. You can adjust your price and add updates, typical price adjustment will be hardwood, granite, #bedrooms, #bathrooms, garage(2 car vs 3 car), pool, year built, lot etc. Or you can also hire an appraiser which I think will be your best bet.

Let me know if you need help selling your duplex. It's the sellers market and leasing is hot as well.

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GRI, CHMS, SFR
Residential/Commercial/Investment
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III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
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0 votes Thank Flag Link Wed Jun 19, 2013
If there is no comps in the area. Income approach can be used as a rental. Considering cap rate at 8-13% so your place will be in the mid 200k just depends on the area and land value.

You can email me at dixondfw@gmail.com if you would like to discuss listing the property on the market. I have a lot of investors client looking for rental investments, I might even able to get it sold prior it hits the market.

Dixon
Realtor
http://www.findyourtexashome.com
0 votes Thank Flag Link Wed Jun 19, 2013
Brian

Normally real estate is valued at it's highest and best value. I suppose in the absence of sale data, that becomes ROI.

Never seen it done, but suppose another approach would be to look at sales outside the immediate area with similar incomes - this is a lot like the first approach, though and requires knowing what the units that sold are renting for.

Jim
0 votes Thank Flag Link Tue Jun 18, 2013
More details are required for any professional render an opinion

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0 votes Thank Flag Link Tue Jun 18, 2013
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