Single Family and Small Multifamily Portfolio Valuation
Looking for some advice and valuating a portfolio of single family and small multifamily (2-4 unit) properties. The portfolio consists of 65 properties making up 104 units. My experience is mainly in multifamily properties as well as commercial investment properties, but I'm not feeling like it makes sense to value this portfolio like I would a single 104 unit property.
Most of these properties are located in the same geographic area, within a couple miles of each other. Single family home values in this area mostly vary between $50k and $100k.
When it comes to multifamily properties, most investors in my area try to purchase at around $30k/ door. At $30k/door, with its current NOI, it's about a 14.2% cap rate. Very high for a multifamily property here, but again I can't see valuing this as one.
Does anyone have any experience with this type of deal, or have any insight?