Property Valuation
In New Mexico, which of the following properties would most likely be appraised using the income approach as the primary method?
AA single-family home in Albuquerque
BA 20-unit apartment complex in Las Cruces✓ Correct
CA vacant rural lot in Taos County
DA new custom home in Rio Rancho
Explanation
Income-producing properties like apartment complexes are primarily valued using the income approach (capitalization of NOI). Investors buy these based on income potential, making the income approach most relevant.
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