Property Valuation
The 'gross income multiplier' (GIM) is typically used for:
AA. Valuing single-family homes
BB. Quickly estimating values of small income properties using gross annual income✓ Correct
CC. Calculating maximum loan amounts
DD. Estimating construction costs
Explanation
The Gross Income Multiplier = Value ÷ Annual Gross Income. It is a quick comparative tool used for small income properties.
Related Georgia Property Valuation Questions
- In the cost approach, the 'site value' is estimated as if the land were:
- A Comparative Market Analysis (CMA) is prepared by a real estate agent primarily to help a seller determine:
- In the income approach, what formula is used to calculate property value?
- Effective age in appraisal refers to:
- The overall capitalization rate (OAR) for an income property reflects:
- The income multiplier method uses which of the following to estimate value?
- An appraisal report that is 'self-contained' (now called an appraisal report under current USPAP) contains:
- A 'before and after' approach in appraisal is commonly used when:
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