New Construction - Income Approach Appraisal

[Julian Tremblay]

Hi All, 

Looking for some guidance in filling out the blanks on how appraisal companies will determine the income approach valuation for a new construction project.

Potential project is located in South East New Brunswick, Canada (Moncton Area)

Factors I am considering for the calculation (NOI / Cap rate):

1. - PGI (Potential gross Income) can easily be determined on my end.
2. - What are typical factors used for the following: 
   1. Vacancy;
   2. Maintenance;
   3. Management.
3. - Insurance can easily be determined
4. - Utilities if any can easily be determined
5. - Property Taxes (The big kicker?) What will be used to determine the property tax contribution (NB, Canada)
6. - What cap rate they will choose to use?

Is there anything I am not considering here?

Looking forward to hearing from you.