Valuation-Pricing

An appraisal is a formal opinion of property value prepared by a qualified appraiser using recognized valuation methods and market evidence.

Assessed value is the value assigned to property for tax administration, which may differ from market price, appraised value, or current asking price.

A broker price opinion is a value estimate prepared by a real estate broker or agent using market information rather than a formal appraisal process.

Cap rate is a real estate metric that compares a property's net operating income to its value or purchase price.

Fair market value is the price a property would likely command in an open market transaction between informed and willing parties.

Gross rent multiplier is a rough real estate metric that compares a property's price to its gross rental income.

Terms that explain how property value is estimated, compared, and discussed in buying, selling, lending, and management contexts.