Multi-Family Appraisal Question

[Marco Pangilinan]

Hi BPers - 

I own a 4 unit building in Chicago that I am going to start the process of re-financing. Just wanted to check from others experience, if current rents of the tenants factor into the building value.

For example, if building A is bringing in $8,000 a month and building B is bringing in $7,000 a month, would the appraiser value building A more. 

OR would appraisal value be strictly limited to similar multi-family homes sold in the area and the condition they are in compared to your building.

Thanks in advance