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How do I find the sale price and gross income multiplier for the subject property using comparable properties?? SUBJECT PROPERTY COMPARABLE 1 COMPARABLE 2 COMPARABLE
How do I find the sale price and gross income multiplier for the subject property using comparable properties??
SUBJECT PROPERTY | COMPARABLE 1 | COMPARABLE 2 | COMPARABLE 3 | |
SALE PRICE | ? | 355,000 | 375,000 | 413,300 |
CURRENT GROSS INCOME | 36,600 | 58,000 | 61,000 | 69,000 |
GROSS INCOME MULTIPLIER | ? | 6.12X | 6.15X | 5.99X |
The book came up with the following solution for the value:
value would be $59,185 times 6 or $355,110
not sure where this came from
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