Property Valuation
In Tennessee, when appraising a historic home in Nashville's Germantown neighborhood, the appraiser would likely give the most weight to which approach?
ACost approach, because of the high replacement cost
BIncome approach, because all homes generate rental income
CSales comparison approach, using sales of comparable historic homes in the area✓ Correct
DSummation approach
Explanation
For residential properties (including historic homes), the sales comparison approach is typically most relevant, using sales of comparable properties. For historic properties, comparable historic home sales in the same neighborhood would be most appropriate.
Related Tennessee Property Valuation Questions
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