R6 Zoned property - When could this be attractive?
I'm a newbie investor - learning the ropes. I was recently driving my area and identified a home ( 2 storey - 3 bed, 3 bath - 2300 sq ft in decent shape) in a nice neighborhood in Portland that is zoned R6. The house is only a modest plot of 0.6acres , however. Property is being offered at market value. Under what circumstances if any, could such a prop that is zoned for multi family development be attractive to an investor? How much discount off market value would we need to achieve to make this a viable deal?