The economic principle stating that the value of a property tends to be set by the price that would be paid to acquire a property of similar utility and desirability is

Units of comparison

In a gross lease, who pays the utility costs?

If a window has an effective age of 10 years and a remaining economic life of 25, the percentage of depreciation (rounded) is

All appraisal opinions should be

What resale price is necessary to achieve a yield rate of 11% on the investment, given the following information:  Sale price = $150,000; Net Operating Income (level) = $7,000; Projection Period = 5 years.

A multitenant building has four tenants described as follows: Suite 1: Has 5,000 square feet and is under lease for five more years at $12 per square foot per year Suite 2: Has 5,000 square feet and is vacant.  The market for this space is $15 per square foot per year Suite 3: Has 5,000 square feet and is under lease for two more years at $13 per square foot per year Suite 4: Has 5,000 square feet and is on a month-to-month tenancy at $15 per square foot per year Expenses for this building are $5 per square foot per year Vacancy and collection loss is estimated at 5% of PGI. All the leased spaces are the same.          What is the net operating income?  (Round your answer to the nearest $10,000)

What is the indicated equity capitalization rate (RE) of a property with a sale price of $400,000, net operating income of $35,000, mortgage terms of 9.75% for 25 years, fully amortized with monthly payments, and a loan-to-value ratio of 65% (You will need a financial calculator to answer this question).

Market rent is

Potential gross income (PGI) less vacancy and collection losses is known as