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URL:https://www.learndesk.us/class/5224100152737792/lesson/e254427f42cc2ba3e8de4e3a6339e3a3?ref=outlook-calendar
SUMMARY:Estimating Income Property Value
DTSTART;TZID=America/Los_Angeles:20260515T190000
DTEND;TZID=America/Los_Angeles:20260515T200000
LOCATION:https://www.learndesk.us/class/5224100152737792/lesson/e254427f42cc2ba3e8de4e3a6339e3a3?ref=outlook-calendar
DESCRIPTION: The income capitalization approach, or income approach, is used for income properties and sometimes for other properties in a rental market where the appraiser can find rental data. The approach is based on the principle of anticipation: the expected future income stream of property underlies what an investor will pay for the property. It is also based on the principle of substitution: an investor will pay no more for a subject property with a certain income stream than the investor would have to pay for another property with a similar income stream.
The strength of the income approach is that it is used by investors themselves to determine how much they should pay for a property. Thus, in the right circumstances, it provides a good basis for estimating market value.
Steps in the income approach
The income capitalization method consists of estimating annual net operating income from the subject property, then applying a capitalization rate to the income. This produces a principal...

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