Property Valuation
A Connecticut appraiser is asked to determine the market rent for a property. This is part of which appraisal approach?
ASales comparison approach
BCost approach
CIncome approach✓ Correct
DGross rent multiplier analysis
Explanation
Determining market rent is a step in the income approach, where the appraiser estimates potential gross income based on market rents, then deducts vacancy and operating expenses to arrive at NOI, which is then capitalized into value.
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