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Why do multi unit properties zestimate for a lower amount than single family properties?

We are interested in buying a multi unit. We would like to live in one unit and rent out the other but are having trouble figuring out how much the properties are actually worth as a whole.
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February 19 2010 - Naperville
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Answers (2)

Multi unit buildings are unlike single family in that the value is in the ability to generate income so the price is based on the cap rate or the return on the investment. Call or write one of us and you can get a clearer picture of this value and how it is obtained.
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February 19 2010
The zillow estimates are notoriously off base, sometimes ridiculously so! As far as I know, they pull information from publicly accessable sources...whatever those are, but there are so many variable that are not accounted for that the numbers can be way off. I believe most people who follow Zillow understand this.
The best way to find the approximate value is to ask a couple of agents to do a CMA. We do not charge for it.

philip
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February 19 2010
 
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