Multi-Family property value
Newbie question here. I was looking at a MF property with 10 units listed for $485,000, however, when I checked the county appraisal site just to get a rough idea of their assessed value, it shows $170K for both assessed and market value. Now I know that SFR and MF properties are valued using a different approach, but why such a big difference in the two prices? What am I missing here? Sorry for sounding like such a novice.
Omer