Single-family homes make up a large percentage of most of our cities’ total area. For example, in the City of Miami, 46,400 of 67,921 parcels (68%) are zoned for single-family homes. In Los Angeles, 436,427 of 671,742 parcels (65%) are zoned for single-family.
As urbanization increases, slowly but surely zoning codes will adjust to allow for more density. You can see this today in the number of single-family homes zoned for auxiliary units, duplex, triplex, and fourplex developments. An example of a more developed city would be New York City with only 96,287 parcels of 856,773 (11%) are zoned for single-family.
Here is a visualization of single-family parcels in the three cities.
A single-family home that allows for a future multi-unit structure is a great investment, regardless if I plan to develop it myself or if I sell it later to someone who will develop it. The point is, there is value beyond the single-family structure that adds equity to the property.
If you own a single-family home, it is important to understand the future potential of your property. Using Deepblocks, we can identify these properties with Smart Search and analyze the potential with our modeling features.
Join our next free PropTech Bootcamp to learn more about finding the future potential in single-family homes.