A Market Analysis, or Competitive Market Evaluation, is an examination of the costs at which comparative properties in a similar range as of late sold. James Joseph leverages his 37 years in the apartment business to use 5 distinct variables to evaluate the price of the property. This is not an appraisal, true value can be obtained by a professional appraiser. James uses: 1) Cost per unit 2) Gross rent multiplier 3) Cost per rooms 4) Cost per square foot and 5) Cash on cash return to determine value for marketing purposes
BREAKING DOWN 'MARKET ANALYSIS'
What we do is take a look at as many local, recent sales as we can find. We subscribe to COSTAR , a unique database for apartment buildings. We then use those past comparable sales and place them on your property to see if we can determine a price that will be attractive to a buyer. To find out exactly what a property is worth for your personal reasons we recommend that you hire a professional appraiser and we are happy to recommend some local "Appraisal Institute" certified appraisers.