How much does a home being a duplex hurt its value?

Asked by Richard, 80110 Mon Nov 2, 2009

My wife and I are considering selling our home and moving to something more appropriate to start a family. Our home is a duplex, 2 bed 2 bath, about 1200 square feet. It was a scrape and build in 1995. The majority of other stuff in this neighborhood was built in the 40s or 50s, so I am having trouble looking at other things in our neighborhood and getting good feel for our value.

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3
Mark Kinslow…, Agent, Centennial, CO
Tue Nov 3, 2009
Hello Richard,

Most Realtors will offer a free consultation to determine value. Based upon your zip code of 80110 I would guess that your house is close to the redevelopment of Belmar, so finding comps should not be difficult. I would assume there are other similar property's that could be used as comps even if they are a little further from your current home and it should not be terrible difficult to establish a value. I would also advise that you interview more then 1 Realtor for listing your home since there is a lot more that goes into selling a property that is unique like yours sounds to be then just price and how much different Realtors may charge you. I hope this helps!

Mark Kinslow II
Coldwell Banker
1 vote
Bob Schenken…, Agent, Denver, CO
Mon Nov 2, 2009
It doesn't affect the value. It is what it is. It's pretty easy to figure out what you might expect to sell for with a bit of research. If you would like, I'm happy to do a no obligation analysis for you.

All I ask is the opportunity to earn your business!

Good Luck,

Bob
Web Reference:  http://bloghomedenver.com
0 votes
Dp2, , Virginia
Mon Nov 2, 2009
There are a few different ways for one to determine the value of a duplex: a CMA (the same method used for SFHs), an income analysis, and replacement value. As an investor, I focus on the previous 2 (the CMA and income analysis). I run the numbers both ways, and I go with the lesser number, so that my valuation will be more conservative.

From the wording of your question, it sounds like there might not be many (if any) other duplexes in your neighborhood. If that's the case, then you might need to base your valuation primarily on your income analysis. Sometimes, one might be able to use the numbers for a SFH with similar living area, number of bedrooms, etc. However, that can be dangerous in certain neighborhoods. You might need to discount the resulting value a bit to reflect the preference for one to buy a SFH instead of a duplex in certain areas, and the situation is vice versa in other areas.
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