How much does lack of eating space deduct from ARV?
I'm looking at a nice 1,200 sqft 3-Bdrm SFH in the Scott park area; decent street, newly-renovated, walking distance to the university. However, it doesn't have a DR. It essentially has just a decent-sized "working" kitchen; room for plenty of counter space and cabinets, plus stove and refrigerator, but not a kitchen table and chairs. The owner grew up in the house and says they ate at a small 4-person table in the K. (They either didn't have much cabinet/counter space, or they had to get up from the table every time somebody walked to the refrigerator or sink.) Even a small bistro table would be a tight squeeze with full lower cabinets and counters. Obviously, its not ideal. But, I think it can be resolved using bar stools and few lower cabinets. The question is, how much would you deduct from the ARV for lack of eating space (i.e., no DR or sufficiently large eat-in K)? I don't see an option on any of the real estate web sites where I can deselect "DR" as a Search option to get similar comps, as you can with Bdr and Bath.
Thanks for your input! :-)
