Property Valuation
Reproduction cost in the cost approach is defined as:
AThe cost to build a modern equivalent structure with similar utility
BThe cost to build an exact replica of the subject structure using the same materials and methods✓ Correct
CThe current market value of the structure
DThe cost to repair all physical depreciation
Explanation
Reproduction cost is the cost to construct an exact duplicate of the subject building using the same materials, construction methods, and design. Replacement cost (often used instead) builds a modern equivalent with similar utility using current materials.
Related Idaho Property Valuation Questions
- When comparing sales, an appraiser adjusts for differences between the comparable property and the subject property. If the comparable sold for $300,000 and had a pool (worth $15,000) that the subject property lacks, the adjusted value is:
- An Idaho duplex sells for $320,000 and generates $2,200/month gross rent. What is the gross rent multiplier?
- The principle of substitution in appraisal states that:
- A property's GRM is 9 and its annual gross income is $54,000. What is the estimated value?
- In Idaho, an appraiser completing a 1004 (URAR) appraisal form is appraising which type of property?
- A comparable sale that closed 12 months ago in a rising market would require which type of adjustment?
- Effective age of a building refers to its:
- A comparable sale in Idaho sold for $310,000 six months ago. The market has appreciated 2% since then. What time adjustment is added to the comparable?
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →