Property Valuation
Which appraisal approach is most appropriate for valuing a special-purpose property such as a church or school with few comparable sales?
ASales comparison approach
BIncome approach
CCost approach✓ Correct
DGross rent multiplier method
Explanation
The cost approach is most appropriate for special-purpose properties (churches, schools, public buildings) where comparable sales are rare and income generation is not the primary use. It estimates value as land value plus the depreciated cost of improvements.
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