i want to buy a duplex down. the other 2 units in the building (2 & 3 fl) sold at $270k. How much more should the duplex be? it is 1st fl & - Trulia Voices
i want to buy a duplex down. the other 2 units in the building (2 & 3 fl) sold at $270k. How much more should the duplex be? it is 1st fl &
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Duplex,
Real estate is a local business and In Chicago a duplex condo is considered a single family attached unit and is not considered income property. When did the units sell? If the units closed in the past 3 months then an old rule of thumb would be to add 30% to the other units and that would put you at $351k. If the units sold more than three months ago you should have a CMA(comparative market analysis) performed to get a more accurate assessment of what the value is today. You should have the CMA performed regardless. The CMA should look at similar units that have closed in close proximity (less than a mile or closer) starting with going one month back in time (in one month increments) ideal up to three months.
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