1) The gross income multiplier (GIM) for warehouse properties in a particular part of town is 6.5 If a house in this neighborhood generates gross income of $250,000 per year, what would be its indicated value using the income approach?

      The following adjustments are applicable:

         House size: $50 per square foot;

         Lot size: $1.25 per square foot;

         Bedrooms: $4,000 each;

         Half bathroom: $750 each;

         Brick exterior: $4,500 more than a frame exterior;

         Excellent condition: $3,000 more than “good” condition.