Property Valuation
Wisconsin's Milwaukee real estate market historically differs from suburban markets in that Milwaukee tends to have:
AHigher price-per-square-foot values than all suburbs
BGreater diversity of property types including urban multifamily, historic homes, and commercial districts✓ Correct
COnly new construction available
DNo commercial real estate activity
Explanation
Milwaukee's urban market features a diverse mix of property types including older historic single-family homes, multifamily properties, commercial corridors, and industrial buildings — distinct from predominantly single-family suburban markets.
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Key Terms to Know
Comparable Sales (Comps)
Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
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