Value of a 2 cottage (duplex) property in Virginia Beach

[Brian Yonker]

Hello BP (new user, first post).  I'm curious what the value could be of a 2 cottage property in Virginia Beach.  Technically, it's a duplex.  The property is a 800sf 2/1 with a 400sf 1/1 over the detached garage all sitting on a half acre.  I live in the 2/1 and finishing up a reno of the 1/1.  The 1/1 previously rented for $650/mth, and it was a total SHI*HOLE.  I think this 1/1 (even though it's small) could rent pretty easy for $900/mth as it has ample parking, a storage area, and a private fenced yard.  I also could rent the 2/1 for 1200-1300/mth.  What would a property like this be worth to an investor?  Thanks, Brian.

[Patti Robertson]

@Brian Yonker - Have you checked zoning to see of the garage apt is legal?  While you usually don’t have an issue renting unless a neighbor turns you in, it won’t carry the same value for a resale if it can’t legally be used as a duplex.