Small Income Residential Properties typically consist of those containing one to four units. They further are units that are rented or held rent. Said another way Small Income Residential Properties are either Single Family, Duplex, Triplex or Quadplex properties, rented to tenants. Unlike most other Residential properties, when performing an appraisal, appraisers must use the income approach or at a minimum consider how the rental income of the property affects its value. Only appraisers with an understanding of how property values relate to a property’s income stream should be chosen to appraise a Small Income Residential property.
At ELLIOTT® we offer Small Income Property Appraisals nationwide. Please contact us for a complimentary pre appraisal consultation.