New Duplex vs Sing. Fam. - Does one appraise better? Wanting a cash-out refi after
Hello All-
I am considering building either a Duplex (2- 2bed/1baths) or a Single Family home (3bed/2bath) in WI. The appraiser will be going of blueprints/location/comps./etc. for the appraisal prior to breaking ground. I plan to keep either one long-term as a rental and the Duplex would give better cashflow, but how would it appraise compared to a single family residence? Is there a typical valuation difference between the two (i.e. duplexes typically value at 5-10% higher than a single-family in the same lot)?? Budget is identified and I, of course, do not want to leave any money in the deal if possible. I am using private funds and then cash out refi so want the higher appraisal.
Hoping there is somewhat of a common answer to this, but I understand there are a myriad of variables. Thanks in advance!