622 Edith way analysis

provided by the whipple group

In the video above, I screen share these comps with you and discuss which are the most relevant for your after-rehab value. Based on your home's size, future condition, and comps, I feel that $1,350,000 is a realistic after-rehab value.

Regarding the room on the lower level of your home that you’re considering turning into an ADU, I don’t have much data and comps to go off of for rooms for rent and ADUs in the area. I searched on the MLS, which has limited info and data, only what is listed by a realtor, and the findings for those are linked here.

Considering that some of these are actual units with a kitchen, like 3471 Lemon Ave, and some are studios with a kitchenette, like the one on Locust, I feel confident placing the rental value for the room at around $1500 without a kitchenette and the smaller footprint, if you expand the footprint, I would say maybe $1,600 and if you add the kitchenette, $1750. I looked at another comp on Zillow, which is a room for rent with a kitchenette and is listed for $2K and has not been rented for over 34 days, so that’s clearly overpriced.

Hopefully this info is helpful in determining how you proceed with the ADU.

Thank you again for your patience, I hope this information is helpful and I’m here if you need anything at all! Please call if you have questions on any of this or need help with the analysis or just want a second set of eyes on anything.