You then subtract all expenses, but not funding payments. The process begins with the gross income of a realestate. Instead, do the appraisal without this income included, then add [...] Income, then, is what is used to determine value. It’s also not ideal to use replacement costs for income realestate appraisal. Take net income before debt-service, and divide by the “cap rate:” It’s a simple formula. For example, if a building’s gross income is $82,000 per year, and the expenses $30,000, you have a net (before debt-service) of $52,000.
Chula Vista Ca Real Estate

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