Applied Income Property Valuation (G-3) COURSE DESCRIPTION This 30 hour course is a hands-on application of the commercial appraisal process providing the student with a case study involving the inspection of a commercial building and the data collection process. It also includes a review of the market area and neighborhood analysis, the development of and Income & Expense Statement, an in-depth analysis of highest and best use principles, site analysis and valuation, investment return calculations, nontypical financing cash equivalency calculations and the valuation of leases. PREREQUISITES Introduction To Real Estate Appraisal(R-1) Valuation, Principles and Procedures(R-2) Introduction to Income Property Valuation(G-1) Principles of Income Property Valuation(G-2) Basic Use Of The HP-12C Calculator COURSE OUTLINE Program Overview - The following topics will be covered: Principles of Income Property Appraising Review Income Valuation Process Neighborhood Data and Analysis Site and Property Description Developing an operating income and expense statement Highest and Best Use Analysis Site Analysis and Valuation Income Approach Valuation Using Debt Service Coverage Ratio Direct Sales Comparison Approach Reproduction Cost New/Accrued Depreciation Accrued Depreciation Final Value Estimate/Report Writing