The Appraisal Form 1025 with 216 is a widely-used document in the real estate industry for evaluating the market value of residential properties. This form is specifically designed to assess multifamily properties containing five or more units. Appraisal Form 1025 is the standard form utilized by appraisers to complete a thorough analysis of the property's characteristics, condition, and market conditions. It consists of various sections that allow for a comprehensive evaluation, including property description, income analysis, cost approach, and sales comparison approach. The form requires appraisers to provide detailed information about the property, such as its location, size, and physical features. Additionally, it includes sections for assessing the income potential of the property, including rental income, other income sources, and operating expenses. Furthermore, Appraisal Form 1025 with 216 incorporates the 216 operating income statement. This section is crucial for estimating the income-producing capabilities of the property. It includes a breakdown of both prospective and historical income and expenses, enabling the appraiser to assess the property's financial viability accurately. Different variations or types of Appraisal Form 1025 with 216 may include updates or revisions to the form to accommodate changing industry standards or regulatory requirements. These revisions ensure the form remains up-to-date with the latest appraisal guidelines and practices. When completing Appraisal Form 1025 with 216, appraisers must conduct thorough research, analyze historical data, and consider current market trends to determine an accurate and fair market value for the property. This information is vital for various purposes, such as mortgage lending, property transactions, taxation, and investment decision-making. In conclusion, the Appraisal Form 1025 with 216 is a comprehensive document used to evaluate multifamily residential properties. By utilizing this form, appraisers can effectively assess the market value of a property based on its characteristics, income potential, and market conditions.