sailsAndCompass
Developer
The detail that changed my view is the size: 970 sq ft feels unusually generous for a one-bedroom townhouse. The property is in Los Angeles, is in average condition and has a $165,000 asking price. It has good natural light, but the finishes are dated and there may be costs connected with rental regulation.
The broker’s yield leaves out expenses that an owner would still have to meet, so I’m not using it as the basis for value. My evidence is thin: one closed transaction, plus three properties that remain on the market.
Would you value the extra floor area independently and then deduct the cost of the dated work, or rely more heavily on the closest sold property? Service charges, the precise micro-location, parking, outdoor space and the lease details are still unknown. Which one would most alter your estimate? I intend to get a local appraisal once those points are clearer.
The broker’s yield leaves out expenses that an owner would still have to meet, so I’m not using it as the basis for value. My evidence is thin: one closed transaction, plus three properties that remain on the market.
Would you value the extra floor area independently and then deduct the cost of the dated work, or rely more heavily on the closest sold property? Service charges, the precise micro-location, parking, outdoor space and the lease details are still unknown. Which one would most alter your estimate? I intend to get a local appraisal once those points are clearer.