Sentences with phrase «similar properties in the area determines»
Not exact matches
Comparable Sales Recent sales of similar properties in nearby areas and used to help determine the market value of a property.
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Based on an acquisition price of $ 1,000,000, the resulting gross rent multiplier in year 1 is 5.93 x. By itself this doesn't tell you all that much, but suppose you've been underwriting several other office buildings for sale in the same area and you have determined that the average gross rent multiplier for these similar properties is 5.00 x.
The amount is determined by how much renters are able and willing to pay in your area, and the best indicator is what other landlords are charging their tenants for similar properties.