Property Valuation
When an Oklahoma appraiser values a mixed-use property (retail on ground floor, residential above), they typically:
AUse only the residential comparable sales approach
BConsider all relevant value approaches — income approach for the retail component, sales comparison for both — and may use a mixed-use approach that addresses both uses holistically✓ Correct
CApply only the cost approach
DAverage the values from three separate appraisals
Explanation
Mixed-use properties require analysis of each component's contribution to value. The appraiser must identify appropriate comparable sales (other mixed-use buildings) and may use the income approach for the investment component. The complexity requires careful analysis of how the market values similar properties.
Related Oklahoma Property Valuation Questions
- An appraisal adjustment for a feature in the sales comparison approach is made to:
- Accrued depreciation in the cost approach to appraisal is the sum of:
- The gross rent multiplier (GRM) method estimates value by:
- Effective age in real estate appraisal refers to:
- Functional obsolescence in real estate refers to a loss in value due to:
- The 'highest and best use' of a property is defined as the reasonably probable use that is:
- Land value in the cost approach to appraisal is estimated as if the land were:
- The Oklahoma City and Tulsa real estate markets are often referred to as:
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