Depreciation due to attached wall with neighbour

2 Replies

Hi, I am trying to buy a multifamily home in Bayonne,NJ.

But this property has one wall attached to neighbor's wall.

If such a home (without attached) is worth $500K then due to one wall attachment

what is effect on the worth of property.

Aniket:

Are you looking at a common wall property such as a duplex or row/townhouse?

If so, are the individual "homes" actual separate properties with their own lot or are they condominiums existing on a common lot?

Or, to you have a situation where one building has been constructed against the exterior wall of its neighbour (common here in the urban core)?

Hi Roy, Thanks for your reply.

I am talking about last scenario, where one building has been constructed against the exterior wall of its neighbor.

If you google search 50 w 23 rd street Bayonne,nj and/or 51w 22nd street Bayonne,nj.

both are on the corner of a block toward ave C in Bayonne.

all the homes between these two home are attached.