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Value — Principles & Approaches

National · Valuation & Appraisal — free cheat sheet for the real estate licensing exam.

📐 Valuation & Appraisal

📋 The 1-minute cheat sheet

DUST: Demand, Utility, Scarcity, Transferability
Sales comparison → homes (adjust the COMPS)
Cost → new/special-purpose (cost − depreciation + land)
Income → rentals (Value = NOI ÷ cap rate)
Substitution caps value at an equal alternative
Progression up / Regression down from neighbors
Highest & best use: legal, possible, feasible, max-productive

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Related in Valuation & Appraisal

Sales Comparison — Adjust the COMPNational Cost Approach — Build It FreshNational Income Approach — GRM & Cap RateNational Depreciation — The Three KillersNational CMA vs BPO vs AppraisalNational Price ≠ Cost ≠ ValueNational Factors That Create Value — DUSTNational The Appraisal ProcessNational

Questions students ask

Is Value — Principles & Approaches on the real estate exam?

Yes. Valuation & Appraisal is a scored domain on the real estate licensing exam, and this topic appears in the national portion.

Is this cheat sheet free?

Yes — every page on CinnaPrep's resource library is free to read, print and share. The app adds practice questions, mock exams and a readiness score.

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