Income Approach for Appraisal on Triplex??

[Michael Campbell]

Hey BP,

I'm looking at a triplex and I asked my realtor for her opinion on what the property might appraise for after it is rehabbed and rented.  She said that for a rental property 2-4 units, the appraiser would use the income capitalization approach for determining the value.  Is this correct?  I thought appaisers used comparable sales for valuing 2-4 unit properties and income capitalization approach was for properties with 5+ units.  Any help is appreciated.

Thank you.