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4(a) As an appraiser you wish to estimate the market value of a property with the following information: The PGI is $50,000 which is competitive
4(a) As an appraiser you wish to estimate the market value of a property with the following information: The PGI is $50,000 which is competitive on the market for Comparable space. Rent Loss and Vacancy Allowances total 8%; while operating expenses are 40% of Effective Gross Income (EGI), Miscellaneous Income is $4,000. Assume a study of 8 recent sales of apparently similar, competitive properties reveals the following: Sales NO. Sales NO $450,000 $50,000 $395,000 $43,500 $510,000 $56,000 $435,000 $48,000 $365,000 $40,000 $390,000 $54,000 2 4 What market value is indicated for the subject property? (10) b) An apartment property to be appraised contains 32 3-room living units and 16 4- om living units. It produces an Annual Potential Gross Income of $50,000.00. Market estigation provides data on recent sales of three similar apartment properties in the
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