Property Valuation
The sales comparison approach to appraisal is MOST applicable for:
AIncome-producing properties
BSpecial purpose properties such as churches
CSingle-family residential properties with active comparable sales✓ Correct
DProperties in rural areas with no comparables
Explanation
The sales comparison approach works best for single-family residential properties in active markets where recent sales of comparable properties are available to support the value conclusion.
Related Mississippi Property Valuation Questions
- A Mississippi appraiser is appraising a single-family home and identifies comparable sales in the same neighborhood within the past 6 months. The primary reason for using recent sales is:
- Assemblage in Mississippi real estate refers to:
- When a Mississippi appraiser notes that a property is in an 'arm's-length transaction,' they mean:
- An 'as-is' appraisal of a Mississippi property reflects:
- An appraiser notes that a property's garage was built without permits and is non-conforming. This would most likely represent:
- A Mississippi commercial property generates $72,000 annual net operating income. If the market cap rate is 9%, what is the estimated value?
- The income capitalization approach estimates property value by:
- A Mississippi buyer asks their agent if they paid too much for a property based on recent comparable sales. The agent's informal value estimate based on sold comps is called a:
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