Investment Property Appraisal
How does one determine the value of an income producing residential property?
There are a number of methodologies that can be employed to determine value. Some of them are as follows:
Which of these valuation methodologies is the most accurate? Can more than one method be used on the same property to determine value? Is there a value difference in a "conventional" building (ie. Building constructed as a six-plex, purpose built) versus an "unconventional" building? (ie. Large non six-plex building which was later modified to contain six apartments.) What if both a conventional and non-conventional building have a similar profit and loss statement? How is value affected if the subject property has a superior net income to similar buildings, but one of its apartments is illegal non-conforming? Does having a Fire Marshall Retro-fit Certificate affect value?
If you want to buy or sell residential investment property in Ottawa, there is no substitute for knowledge and experience
GERRY OSIKA, Broker, MBA.