Two-method valuation per unit: Method 1 = P80 waterfall (TH+Condo pool for new units). v8.3 carry-over for the front house: base PPSF = midpoint(SFR_P80, TH+Condo_P80) = ($883 + $760) / 2 = $822/SF. The midpoint naturally captures SFR uplift; replaces the v8.0-v8.2 flat +5% post-blend premium.
Method 2 = Seekly AVM (avm_router_v2 baseline) with Townhouse → Condo → SFR subtype fallback. Headline = 0.70 × Waterfall + 0.30 × AVM. No post-blend premium.
AMI recommendation: Cap non-binding on 800 SF units — 2 Units at 100% AMI hits 50% threshold AND +2 bonus pts for FREE
Comp depth: TH+Condo n=71 at tier T2 (≤1250 SF — v8.5 tightened from 1300). SFR n=106 at tier T1. New-con comps in TH+Condo (YB≥2015): 8. Weighted P80 lift: +3.74%. v8.5 target-band depth: 35 comps of 71 in the 800-1000 SF band (1.5× weight, stacks with the 3.0× new-con weight).
Front house preserved. Three new TIC units added (1× 1000 SF + 2× 800 SF — fits the v8.5 target band). Common configuration for Genesis LA Homeownership Innovation Fund + SLBI Private Land RFI.
| Unit | SF | BR | M1 Base PPSF | M1 Waterfall | M2 AVM | Headline | Confidence |
|---|---|---|---|---|---|---|---|
| Front House | 1106 SF | 2 BR | Midpoint($ 883, $ 760) $822/SF |
$817,730 | $885,436 | $838,042 | TIGHT 8.0% |
| Unit B | 1000 SF | 2 BR | $760/SF | $669,393 | $702,516 | $679,330 | TIGHT 4.8% |
| Unit C | 800 SF | 2 BR | $760/SF | $567,645 | $525,443 | $554,985 | TIGHT 7.7% |
| Unit D | 800 SF | 2 BR | $760/SF | $567,645 | $525,443 | $554,985 | TIGHT 7.7% |
| Total Headline Gross | $2,627,341 | ||||||
v8.5 changes: TH+Condo pool tightened to ≤1250 SF (was 1300). New: target-band weighting with comps in the 800-1000 SF band getting 1.5× weight (matches the subject new-unit size). 700-800 or 1000-1100 SF = 1.0×. 600-700 or 1100-1250 SF = 0.7×. The band weight STACKS multiplicatively with the new-construction weight, so an 850 SF new-con comp from 2022 within 2 mi gets 1.5 × 3.0 = 4.5× total.
Front-house methodology: Base PPSF = midpoint(SFR_P80, TH+Condo_P80). TIC -10% discount applied unless the pool is curated.
Method 1 (Waterfall): P80 PPSF over the comp pool. New-construction comps in TH+Condo within 2 mi (YB ≥ 2015) weighted 3.0× (or 5.0× for parcels in the v8.4 override dict — currently only Granville rank 12).
Method 2 (AVM): Seekly avm_router_v2 baseline. Same apples-to-apples ledger as M1.
Headline = 0.70 × Waterfall + 0.30 × AVM.
Each unit valued by Seekly's AVM (backend/avm_router_v2.py — same engine that powers the Comparables tab on the main Seekly UI). Subtype fallback: Townhouse → Condominium → SingleFamilyResidence. The ARV column is the raw P80 from the comp pool; Adjusted applies the same TIC / parking / no-yard ledger as Method 1 so the two methods compare apples-to-apples.
| Unit | SF | Subtype Used | Low (P25) | Avg (P50) | ARV (P80) | Adjustments | Adjusted | AVM Confidence |
|---|---|---|---|---|---|---|---|---|
| Front House | 1106 SF | SingleFamilyResidence | $731,182 | $798,636 | $983,818 | TIC discount -10.0% | $885,436 | high 100/100 · n=56 |
| Unit B | 1000 SF | SingleFamilyResidence | $675,301 | $737,184 | $893,104 | TIC discount -10.0%No parking (WestAdams_90016) -8.0%No private yard -5.0% | $702,516 | high 100/100 · n=39 |
| Unit C | 800 SF | SingleFamilyResidence | $498,182 | $530,091 | $630,182 | TIC discount -10.0%No parking (WestAdams_90016) -8.0%No private yard -5.0%Small-unit premium (≤850 SF) +6.0% | $525,443 | high 82/100 · n=12 |
| Unit D | 800 SF | SingleFamilyResidence | $498,182 | $530,091 | $630,182 | TIC discount -10.0%No parking (WestAdams_90016) -8.0%No private yard -5.0%Small-unit premium (≤850 SF) +6.0% | $525,443 | high 82/100 · n=12 |
Each parcel scored under 4 configurations. 100% AMI 2BR cap = $578,245 · 120% AMI 2BR cap = $722,807. A cap only changes the price when a unit's market price exceeds it (binding); when the unit already prices below the cap it sells at market and the affordability threshold is earned at no cost.
| Line Item | Amount |
|---|---|
| For-sale value (2 Units at 100% AMI) | $2,627,341 |
| Less: Acquisition (list price) | ($850,000) |
| Less: Build cost (2,600 new SF × $400, all-inclusive) | ($1,040,000) |
| Less: Holding (3-loan interest 18 mo) | ($182,561) |
| Less: Origination (1% × 3 loans) | ($27,797) |
| Less: Closing fixed | ($20,000) |
| Less: Brokerage (2.5%) | ($65,684) |
| Projected Profit | +$441,299 |
| Profit as % of for-sale | +16.8% |
v8.5 change: TH+Condo pool tightened to ≤1250 SF + per-comp target-band weighting (1.5× for 800-1000 SF) layered on top of the existing 3×/5× new-construction weight. Build cost stays all-inclusive at $400/SF; loan stack and brokerage unchanged from v8.1.
v8.5 change: The TH+Condo comp pool's hard SF cap was tightened from 1300 → 1250 SF (50 SF tighter — better match for the standard SLBI new-TIC unit envelope). NEW: a per-comp target-band weighting was introduced on the TH+Condo pool. Comps in the 800-1000 SF band (matching the subject new-unit size) get 1.5× weight. 700-800 / 1000-1100 SF = 1.0×. 600-700 / 1100-1250 SF = 0.7×. The band weight STACKS multiplicatively with the existing new-construction weight (3.0× default, 5.0× for parcels in NEW_CON_WEIGHT_OVERRIDES). So an 850 SF new-construction comp from 2022 within 2 mi gets 1.5 × 3.0 = 4.5× total. This parcel had 35 comps in the 800-1000 SF target band (of 71 total in the TH+Condo pool).
v8.3 carry-over: Front-house base PPSF = midpoint(SFR_P80, TH+Condo_P80). The midpoint naturally captures SFR uplift; replaces the v8.0-v8.2 flat +5% premium.
Two-method blend: Headline = 0.70 × Waterfall + 0.30 × AVM. Both methods use the midpoint base for the front house. AVM Method 2 replaces v6's paired-sale adjustments entirely.
New-construction weighting: Inside the TH+Condo comp pool, comps within 2 mi (YB ≥ 2015) weighted 3.0× in the P80 calc. This parcel had 8 qualifying new-con comps; weighted P80 vs unweighted lift: +3.74%.
Build cost basis: $400/SF all-inclusive (hard + soft + pre-dev rolled in). Genesis LA pre-dev loan still sized on the financing side.
Loan stack: Genesis LA Homeownership Innovation Fund. Acq 95% LTC/$1M max @ 4.25% · PreDev 100% LTC/$800K max @ 3.00% · Construction 95% LTV/$6M max @ 4.50%. All 18mo terms, simple-full-term interest.
Brokerage: 2.5% gross.