The Gross Income Multiplier (GIM) for warehouse properties in a particular part of town is 6.5 If a house in this neighborhood generates gross income of $250,000 per year, what would be its indicated value using the income approach?

House size:$50 per squarefoot;

Lot size:$1.25 per squarefoot;

Bedrooms:$4,000each;

Half bathroom:$750each;

Brick exterior:$4,500 more than a frameexterior;

Excellent condition:$3,000 more than "good" condition.

Using this information, what is the indicated value of the subject property using the sales comparison approach?

Answer rating: 100% (QA)

Here are the indicated values of the subject property using the income and sa... View the full answer