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Hi. I need a property valuation (Coatesville / Riverhead area) using a capitalisation approach (e.g how much revenue it generates), as opposed to just land value + dwellings and improvements. It's a lifestyle block with small cottage rented for 480pw, there's also a large storage shed long term leased for 500pw, and we also built a 58m2 self contained cabin on wheels that does not require consent / appraised at 500pw. I'm hoping that it will be worth at least 1.4m in order to get finance for the next project, which would give it a 5.5% GY. Personally I feel that it would be worth 1.5 or more all things considered. It's also very attractive as a buy could live in one of the dwellings and offset most of their mortgage with the income the place generates. I have not had it valued, since the new dwelling was finished. I think land+improvements may not make the value as high as market rate, unless the yields are taken into account. Really need a valuer that will take yield into consideration. Thanks !!!
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