Property Valuation
Which appraisal approach is most commonly used to value single-family residential properties in Minnesota?
AIncome capitalization approach
BCost approach
CSales comparison approach✓ Correct
DGross rent multiplier approach
Explanation
The sales comparison approach is most commonly used for single-family residential properties because comparable sales data is usually available. The appraiser adjusts for differences between the subject property and comparable sales to arrive at a value estimate.
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