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INCOME APPROACH <br />The Income Approach to Value generally converts benefits or income derived from ownership of a <br />property into a value. When properly applied, this approach is generally considered to provide a reliable <br />indication of value for income producing properties. <br />The Following Outline Is Used In The Income Approach: <br />- Subject rents. <br />- A location map of the comparable rents. <br />- Market rents are from competing properties from the area. <br />- Adjustment Grid for Competing Market Rents. <br />- Vacancy. <br />- Subject and Market Expense conclusions are discussed. <br />- A capitalization rate is estimated from the market. <br />- A stabilized income statement is estimated for the subject. <br />- Net Operating Income is capitalized to a final value for the Income Approach. <br />Nagel) Appraisal Incorporated 1952.544.8966 <br />