WebThe applicant should complete all of the income and expense projections and for existing properties provide actual year-end operating statements for the past two … WebThe form is prepared by the appraiser as an attachment to the appraisal for a single-family investment property. The lender should retain the original of the form and the appraiser, the copy. The form is designed to present the information needed to determine the market rent for a single-family property.

What is a 216 form appraisal? – KnowledgeBurrow.com

WebWhat is the indicated value for the subject by the income approach? $354,000 A triplex has 2,990 SF of GBA with three identical units each with 5 rooms, 2 bedrooms, 1 bathroom. It sold for $428,000. What is the indicated sale price per unit? $142,667 WebOperating Income Statement (Form 216) The operating income statement is used by appraisers to estimate net income when appraising one-to-four unit investment … canilflygoldens gmail.com

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WebThe 216 form is usually ordered in conjunction with the 1007 form. It is used to determine the operating income of the subject property. It takes the market rent less operating expenses to determine the operating income. New Forms Since writing this article, two new forms have been added to the appraiser’s repertoire. Web3.03 Property Types and Situations Property with Two to Four Living Units xe "Value Determinations, two to four living units" VA requires the use of Fannie Mae Form 1025, Small Residential Income Property Appraisal Report. VA does not require the use of Fannie Mae Form 216, Operating Income Statement. WebThe applicant should complete all of the income and expense projections and for existing properties provide actual year-end operating statements for the past two years (for new … fitzpatrick\u0027s color atlas of dermatology