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Byron Scott
  • Rental Property Investor
  • Villa Rica, GA
360
Votes |
220
Posts

Appraisal on 4 unit. Income or comps?

Byron Scott
  • Rental Property Investor
  • Villa Rica, GA
Posted May 23 2020, 17:18

Hey BP Fam!

I am in négociations over a quadplex. The comps for the quadplex is around 220k-250k. The owner is saying that the property will be valued off the income and potential income it will bring in. So he's saying he wants to sale at 288k. I'm thinking that when the property is appraised it will come back around 220k-250k. Should I let him know that I don't think it will appraise for 288k? or should I let him know I will buy at the appraised price. The numbers still work at 288k. Rents are 3200. Newer property. So will it appraise around where other quadplexes in the area sold for 220k-250k? or will income become a factor?

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