Single family home on commercial/residential zoning

2 Replies | Houston, Texas

I have a meeting with a seller this Saturday. The issue I am having is that the property itself is 1448sf but the land it sits in is 21,200sf. Per the seller it has been zoned commercial/residential. The property is as sfh and in HCAD it is considered a residential property. The property needs a lot of work but how would I go on about getting a good comp for it? 

If it is in Harris County there is no "zoning" that I'm aware of.  Everything is regulated through deed restrictions.  If HCAD has it listed as residential, then it's currently residential but there is no reason it couldn't be converted to something else provided the deed restrictions don't disallow it.  I have run across some properties like this where it is in an area of town that is sort or rural pockets next to standard neighborhoods and had no luck finding any comps.  If that is what you are dealing with, short of talking to the neighbors that have been in the area for years and seem to know everybody elses business, I'm not sure how you would go about comping it out.