About This Worksheet
This worksheet helps you organize, calculate, and track the key information needed for income approach valuation worksheet. Fill in each section carefully. The calculation areas will help you determine totals and verify your numbers before you transfer them to the official form or application.
Worksheet for calculating property value using the income approach for rental and investment properties.
Filing electronically reduces processing time by about 35% on average.
Working through this worksheet before filling out the official form reduces errors significantly. By calculating and verifying your numbers here first, you avoid having to make corrections on the actual form, which can lead to rejection or delays.
How to Complete This Worksheet
- Print this worksheet or use it on screen. If printing, use a pen (not pencil) for final answers.
- Complete each section in order. Do not skip ahead, as later sections may depend on earlier answers.
- Use a calculator for all math. Do not estimate or round unless the instructions specifically say to.
- Double-check every calculation before moving to the next section.
- When you have completed the entire worksheet, transfer the final figures to your official form.
- Keep this worksheet with your records after submission. You may need to reference it later.
- If any field does not apply, write N/A. Do not leave fields blank.
- If you are unsure about a figure, gather the source document before entering a number. Estimates lead to errors.
This worksheet is organized into sections that mirror the structure of most official forms. By completing each section here first, you can transfer the final figures to the official form with confidence that they are accurate and consistent.
Section 1: Personal Information
Enter your personal details exactly as they appear on your government-issued ID. Consistency across all documents is critical for processing.
As it appears on your government ID. Include middle name or initial.
MM/DD/YYYY format.
Used for identification and record matching. Format: XXX-XX-XXXX.
Street, apartment/unit, city, state, ZIP code.
Best number to reach you during business hours. Include area code.
For electronic correspondence and status updates.
From prior income approach valuation worksheet filings or correspondence. Write N/A if none.
MM/DD/YYYY. Write N/A if this is your first filing.
Do not use correction fluid (white-out) on any part of the form. If you make an error, draw a single line through it, write the correction above, and initial the change. Better yet, start a fresh copy of that page.
Section 2: Income and Assets
Enter all financial figures related to income approach valuation worksheet. Use whole dollar amounts unless otherwise specified. Pull these numbers from your most recent tax return, pay stubs, and bank statements.
Earned Income
Enter your income from employment, self-employment, and other earned sources.
| A. | Annual gross income from primary employment (before taxes and deductions) | $ ________ |
| B. | Annual gross income from secondary employment (if any) | $ ________ |
| C. | Annual self-employment income (net, after business expenses) | $ ________ |
| D. | Total annual earned income (A + B + C) | $ ________ |
| E. | Monthly earned income (Line D divided by 12) | $ ________ |
Unearned Income
Enter income from sources other than employment.
| F. | Annual Social Security, pension, or retirement income | $ ________ |
| G. | Annual investment income (dividends, interest, capital gains) | $ ________ |
| H. | Annual rental income (net, after property expenses) | $ ________ |
| I. | Other annual income (alimony, child support received, etc.) | $ ________ |
| J. | Total annual unearned income (F + G + H + I) | $ ________ |
Assets
Enter the current value of your assets. Use the most recent statements.
| K. | Total in checking accounts (all accounts combined) | $ ________ |
| L. | Total in savings accounts (all accounts combined) | $ ________ |
| M. | Total value of stocks, bonds, and investment accounts | $ ________ |
| N. | Total value of real property (home, land) at current market value | $ ________ |
| O. | Total value of vehicles at current market value | $ ________ |
| P. | Other assets (retirement accounts, life insurance cash value, etc.) | $ ________ |
| Q. | Total assets (K + L + M + N + O + P) | $ ________ |
Section 3: Monthly Expenses and Liabilities
List your regular monthly obligations. Use averages for expenses that vary month to month. These figures are commonly required for income approach valuation worksheet calculations.
Monthly Expenses
| R. | Rent or mortgage payment (principal, interest, taxes, insurance) | $ ________ |
| S. | Utilities (electric, gas, water, sewer, trash, internet, phone) | $ ________ |
| T. | Food and groceries | $ ________ |
| U. | Transportation (car payment, gas, insurance, public transit) | $ ________ |
| V. | Health insurance premiums (not deducted from paycheck) | $ ________ |
| W. | Child care or dependent care expenses | $ ________ |
| X. | Debt payments (credit cards, student loans, personal loans) | $ ________ |
| Y. | Child support or alimony paid | $ ________ |
| Z. | Other regular monthly expenses | $ ________ |
| AA. | Total monthly expenses (R through Z) | $ ________ |
When listing addresses, use the full address including unit or apartment number, city, state, and ZIP code. PO Boxes are generally not accepted as a physical address, though some forms allow them for mailing purposes.
Section 4: Household Members
List all members of your household. Include everyone who lives with you, regardless of whether they are related to you. This information is commonly required for income approach valuation worksheet filings to determine household size and combined income.
| # | Full Name | Relationship to You | Age | Annual Income |
|---|---|---|---|---|
| 1 | ||||
| 2 | ||||
| 3 | ||||
| 4 | ||||
| 5 | ||||
| 6 | ||||
| 7 | ||||
| 8 |
Section 5: Income Approach Valuation Worksheet Specific Details
Complete this section with information specific to your income approach valuation worksheet case. These details may be needed on the official form or as supporting documentation.
Enter relevant details about income as they relate to your case. Include dates, reference numbers, and specifics.
Enter relevant details about approach as they relate to your case. Include dates, reference numbers, and specifics.
Enter relevant details about valuation as they relate to your case. Include dates, reference numbers, and specifics.
Enter relevant details about worksheet as they relate to your case. Include dates, reference numbers, and specifics.
Record any other information relevant to your income approach valuation worksheet case that was not covered above.
Section 6: Document Tracking
Use this table to track every document included in your income approach valuation worksheet submission. List each document, its date, number of pages, and whether you have the original, a copy, or both.
| # | Document Name | Date Issued | Pages | Original/Copy |
|---|---|---|---|---|
| 1 | ||||
| 2 | ||||
| 3 | ||||
| 4 | ||||
| 5 | ||||
| 6 | ||||
| 7 | ||||
| 8 | ||||
| 9 | ||||
| 10 |
Before finalizing, verify that every document referenced in your form is listed here and physically present in your packet. Cross-reference your document list against the requirements on the official instructions.
Summary and Final Calculations
Transfer your calculated figures from the sections above into this summary. These are the numbers you will use on your official form.
Final Calculations
| AB. | Total annual income (Line D + Line J) | $ ________ |
| AC. | Monthly income (Line AB divided by 12) | $ ________ |
| AD. | Total monthly expenses (Line AA) | $ ________ |
| AE. | Net monthly income (Line AC minus Line AD) | $ ________ |
| AF. | Total assets (Line Q) | $ ________ |
| AG. | Total liabilities (sum of all debts owed) | $ ________ |
| AH. | Net worth (Line AF minus Line AG) | $ ________ |
| AI. | Filing fee amount (from official instructions) | $ ________ |
| AJ. | Remaining after fee (Line AE minus Line AI) | $ ________ |
Verification Checklist
Before transferring these figures to your official form, verify each of the following:
- All dollar amounts are accurate and match your source documents (tax returns, pay stubs, bank statements).
- Addition and subtraction in calculation areas have been double-checked with a calculator.
- Names and dates match your official identification documents exactly.
- You have supporting documentation for every figure listed on this worksheet.
- The information is consistent with the requirements specified for income approach valuation worksheet.
- Your household member list is complete and their income figures are current.
- All N/A entries are correct (the field genuinely does not apply to you).
After completing this worksheet, transfer the summary figures to the appropriate sections of your official income approach valuation worksheet form. Keep this worksheet in your files for reference.