Property ValuationIntermediateDelaware Exam

What is the 'discounted cash flow' (DCF) method in Delaware income property valuation?

AA method that discounts the future sale price only
BA method that estimates property value by discounting projected future cash flows (income and reversion) back to present value using a required rate of returnCorrect
CSimply a simplified method that discounts a property's overall value based only on its chronological age, though outcomes can differ depending on circumstances
DA method of reducing the cap rate for risk-adjusted returns

Why A method that estimates property value by discounting projected future cash flows (income and reversion) back to present value using a required rate of return Is Correct

Answer B: A method that estimates property value by discounting projected future cash flows (income and reversion) back to present value using a required rate of return

The DCF method projects a property's income and reversion (sale proceeds) over a holding period and discounts each cash flow back to present value at an investor's required rate of return (discount rate), providing a more detailed analysis than direct capitalization.

Exam Tip: Property Valuation

Valuation questions focus on the three approaches to value: sales comparison, cost, and income. Know which approach is best for which property type. The income approach uses cap rate and NOI — memorize these formulas.

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