Residential Sales Comparison and Income Approaches

With a focus on two of the primary approaches used to value real property, this course reviews the income property principles that affect the appraisal of residential properties. Interactive problems and case studies help illustrate the key concepts in practical ways. In addition, this course sets a foundation for more advanced general appraiser classes by touching on the principles of income capitalization. 

Following the course material is a mandatory three-hour proctored exam that must be taken in a monitored setting. An HP12C calculator is also required for certain portions of this course.

Course access is available for 6 months from the day it is opened. All courses, regardless of whether they have been opened, expire two years from the date of purchase. Extensions are available for purchase within 30 days of a course expiring. No extensions will be granted after this period.

Course Roadmap

1. Valuation Principles and Procedures of the Sales Comparison Approach

2. Sales Data

3. Analysis Techniques of the Sales Comparison Approach

4. Procedures of the Sales Comparison Approach, Partial Interests, and Real Property Rights

5. Financing Terms and Cash Equivalency

6. Market Conditions

7. Location Adjustments

8. Physical Characteristics Adjustments

9. Completing the Sales Comparison Approach

10. Economic Principles and Types of Value

11. HP 12C Calculator

12. Six Functions of a Dollar

13. Financial Calculator Introduction (HP 12C Calculator)

14. Income Multipliers

15. Income Capitalization Approach – Single Unit Properties

16. 2-4 Unit Residential Income Property Appraisal

17. Small Residential Income Property Appraisal Report

18. Reconciliation

19. Conclusion

20. Online Proctored Final Exam