Property Valuation
An appraiser completing a market study for a proposed 50-unit apartment complex in Newark, NJ would analyze all of the following EXCEPT:
ACurrent vacancy rates in the submarket
BThe personal credit history of the developer✓ Correct
CCompetitive supply (existing and planned units)
DAchievable market rents for comparable units
Explanation
A market study for an income property analyzes supply, demand, vacancy, absorption, and achievable rents. The developer's personal credit history is not part of the real estate market analysis, though it may be relevant to the lender's underwriting.
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