Updated over 7 years ago on . Most recent reply
Should I trust CAMA valuation when analyzing?
I'm currently assessing a 1940 Renovated Quadruplex that's sale price is listed at $175,000. However, in the course of my research, I found the county appraisers total assessed value at $114,000. It said that the valuation method is CAMA, which is the Computer Assisted Mass Appraisal. Given this disparity between the "Assessed Value" and "List-Price", I question how trust-worthy a CAMA valuation is on potential sale price. All things being equal and assuming the numbers worked, based on this CAMA valuation, I'd certainly be inclined to offer much lower for this property than the listed price. You thoughts are appreciated.
*Additional Info: It's owned by an Investment LLC, 2017 assessed Tax value was $47,000, and last recorded sale price was $126,000 in 2017.
Thank You,
Adam