Property Valuation
A Connecticut appraiser is valuing a vacant commercial lot. Which approach would be MOST appropriate?
AIncome approach only
BCost approach only
CSales comparison approach using land sales✓ Correct
DGross rent multiplier method
Explanation
For vacant land, the sales comparison approach using recent comparable land sales is the most applicable method because there are no improvements to cost or income to capitalize.
Related Connecticut Property Valuation Questions
- Economic obsolescence (external obsolescence) in an appraisal is caused by:
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