A gross rent multiplier is an economic unit of comparison that reflects the ratio between the unadjusted sale price of a comparison property
and its gross monthly income potential, which is a market-derived projection.
One comparison property
was about 300 acres, but was not in a similar location, i.e.
A partially ordered metric space (Eq.) is said to have a sequential limit comparison property
if every non-decreasing sequence (non-increasing sequence) (Eq.) in X such that xn converges to x implies that (Eq.).
Statistics show that over the past decade rural land prices have risen by 168%, while by comparison property
in London rose on average by 113% and outside of the capital by less than 100%, which puts into perspective the value in investment terms of land ownership.
"The homes more accurate value was $540,000 and was reflected in the one lower comparison property
that, wouldn't you know it, happened to be the closest," Ogden said.
If the ownership rights of the comparison property are not the same as those of the subject, an adjustment should be made to compensate for the differences.
The concern in the context of property rights conveyed is the degree to which an easement adversely affects the use of a comparison property. Easements within the front, rear, or side-yard setback area tend to have less severe value impact than those within the more central development area of the site.
This is relevant because a fundamental premise of the sales comparison approach is that the subject and comparison property
should have the same or similar highest and best use of the site as if vacant and the property as improved.
Each comparison property
was zoned single-family residential and was in average condition.
Bar D represents the reproduction cost indicator of market value of a substitute comparison property with equivalent utility and desirability as if the subject property was already cured.
The fact that a substitute comparison property operates more efficiently does not in and of itself equate to the existence of functional obsolescence.
The Principle of Substitution typically states that "no prudent buyer would pay more for a property than the cost to acquire a similar site and construct improvements of equivalent desirability and utility without undue delay."  Thus, the Principle of Substitution makes clear that the substitute or comparison property
contemplated by a hypothetical buyer that features design, materials, and equipment of desirability and utility equivalent to the subject property.