Multi-Family Appraisals for 2-4 Unit Homes
Duplex, triplex, and fourplex appraisals in Connecticut and Florida, including rent schedules for lenders.
Sales and Rents, Side by Side
Small multi-family homes are valued like homes and like rentals. We look at both.
Sales Comparison
We compare recent sales of similar 2-4 unit buildings nearby and adjust for size, condition, and number of units. This is usually the main approach.
Income Approach
We look at market rents for each unit and use a gross rent multiplier to check the value from an investor's point of view.
Appraising Duplexes, Triplexes, and Fourplexes
Homes with two to four units are still residential, but they're valued a little differently than a single-family home. Buyers care about condition and upkeep, and they care about the rent the building brings in.
Two-, three-, and four-family homes are common across Connecticut, especially in Waterbury, Hartford, New Haven, and Bridgeport. In Florida, we see more duplexes and small rental buildings around Tampa Bay and Sarasota.
Lender Forms
Most lenders want a Small Residential Income Property Appraisal Report (Form 1025) and a rent schedule (Form 1007). We prepare both. If you'll live in one unit and rent the others, your lender may use those rents to help you qualify, so an accurate rent schedule really matters.
What to Have Ready
- Current leases or a list of rents for each unit
- Which units are owner-occupied or vacant
- Recent repairs and updates, with dates
- Access to every unit, the basement, and mechanicals
Frequently Asked Questions
Do you appraise buildings with 5 or more units?
No. Five or more units is commercial property. We appraise residential properties up to four units.
What if a unit is vacant?
We use market rent for that unit, based on similar rentals nearby.
How long does the visit take?
Longer than a single-family home, since we look at each unit. Reports are typically ready in a few business days.
How much does a multi-family appraisal cost?
It depends on the building. We give you a clear quote up front.
Meet the Appraisers
A mother and daughter team carrying on three generations of appraisal experience.
Catherine Hall
Certified Residential Appraiser, Owner | NY, CT, FL LicensedCatherine began her appraisal career in 1993, working alongside her mother, Joan Davies. Today she owns Heritage Valuation Group, and her USPAP-compliant reports are relied on by homeowners, attorneys, lenders, and the IRS.
Madeline Hall
Certified Residential Appraiser | CT LicensedMadeline represents the next generation of the family business. She pairs modern market insight with a detail-oriented approach, so every report is thorough, accurate, and easy to understand.
Need a 2-4 unit appraisal?
Serving homeowners, attorneys, and lenders across Connecticut and Florida.