Field

Description

Year Built

Mnemonic: LNYRBL

Use this field to indicate the year the property was built.

Number of Buildings/Floors/Units/Parking Spaces

Mnemonic: PZ#BLD/PZ#FLR/PZ#UNT/PZ#PRK

Use these fields to indicate the number of buildings, floors, units, and/or parking spaces (depending on which features are applicable) on the property.

The Number of Units field can be used in calculating a property's Fair Market Value (see below).

Property Square Footage/Rentable Square Footage

Mnemonic: PZPSQU/PZRSQU

Use the Property Square Footage field to indicate the total size in square feet of the property. Use the Rentable Square Footage field to indicate the amount of the property that is rentable space.

Gross Rent Multiplier

Mnemonic: PZGRMP

Use this field to indicate the gross rent multiplier (GRM) value of income-generating properties.

A property's GRM is calculated by dividing the sales price by either the monthly or yearly potential gross income. For example, if the sales price for a property is $200,000.00 and the monthly potential gross rental income for a property is $2,500.00, the GRM is equal to 80 (200,000 / 2,500 = 80).

Monthly potential gross income is equal to the full occupancy monthly rental amount which assumes all available rental units are occupied. This field can be used in calculating a property's Fair Market Value (see below).

Value Per Unit/Fair Market Value

Mnemonic: PZUNTV/PZFMVC

These two fields are used to determine the fair market value of the property. The Value Per Unit field is only used with calculation method 3 (see below). The Fair Market Value field is used to identify the calculation method for determining the fair market value. Possible calculation methods are as follows:

1.Income Valuation. This amount is calculated by dividing the Net Operating Income by the Cap Rate. Example: A property has a Net Operating Income of $155,000.00 and a Cap Rate of 12.9. $155,000.00 / .129 = $1,201,550.00, which is the Fair Market Value.

2.Gross Rent Valuation. This amount is calculated by multiplying the Gross Rent Multiplier (see above) by the Gross Income. Example: A property has a Gross Rent Multiplier of 6.5 and takes in a Gross Income of $133,500.00. $133,500.00 X 6.5 = $867,750.00, which is the Fair Market Value.

3.Value/Unit Valuation. This amount is calculated by multiplying the Number of Units (see above) by the value indicated in the Value Per Unit field. Example: A property has four units and the Value Per Unit is $45,000. 4 X $45,000 = $180,000.00, which is the Fair Market Value.

The result of this calculation is displayed in the Value Result field below.

Value Result

Mnemonic: N/A

This field displays the result of the Fair Market Value calculation (see above).

Original Net Operating Income

Mnemonic: PZONOI

Use this field to indicate the original net operating income for the property (rounded to the nearest dollar amount).

Net income includes funds received after taxes, property improvements, utilities, etc.

Property Address

Mnemonic: N/A

Use these fields to indicate the address of the property.

Apartment Unit Mix

Mnemonic: PZUMIX

If applicable to the property, use this field to indicate the number of bedrooms and baths at the apartment unit. Possible selections in this field are as follows:

1 - Studio Apartment

2 - 1 x 1 (1 bedroom - 1 bath)

3 - 2 x 1 (2 bedroom - 1 bath)

4 - 2 x 2 (2 bedroom - 2 bath)

5 - 3 x 1 (3 bedroom - 1 bath)

6 - 3 x 2 (3 bedroom - 2 bath)

7 - 3 x 3 and Larger

8 - Multiple Unit Mix Types

Office/Retail Unit Mix

Mnemonic: PZRMIX

If applicable to the property, use this field to indicate the type of office/retail unit mix at the property. Possible selections in this field are as follows:

1 - Single use tenant

2 - Office less than 5 tenants

3 - Office more than 5 tenants

4 - Commercial single tenant

5 - Commercial less than 5 tenants

6 - Commercial more than 5 tenants

Property Condition

Mnemonic: PZCONP

Use this field to indicate the condition of the property. Possible selections in this field are as follows:

1 - Excellent

2 - Good

3 - Fair

4 - Deferred Maintenance*

5 - Poor

* Refers to maintenance that was not performed when it was scheduled, or was scheduled to be performed but was delayed until a future period.

Neighborhood Condition

Mnemonic: PZNCON

Use this field to indicate the condition of the neighborhood where the property is located. Possible selections in this field are as follows:

1 - Excellent

2 - Good

3 - Fair

4 - Poor

Environmental Concerns

Mnemonic: PZECON

Use this field to indicate any environmental concerns pertaining to the property. Possible selections in this field are as follows:

1 - No issues

2 - Observation of some concern

3 - Serious Concern

4 - Clean-up must be completed

Construction Type

Mnemonic: PZPCTP

Use this field to indicate the type of material used to construct the property. Possible selections in this field are as follows:

1 - Frame/Stucco

2 - Brick

3 - Concrete

4 - Wood Frame

5 - Masonry

6 - Mix

7 - Steel

8 - Stucco

9 - Concrete Block

10 - Tilt Up

Building Class

Mnemonic: PZBLDC

Use this field to indicate the building class of the property.

Class designation is a method used by the Building and Owners Association (BOMA) for categorizing office buildings. BOMA class definitions are as follows:

Class A - Defined by BOMA as the most prestigious buildings, competing for premier office users with above-average rental rates for the area along with high-quality standard finishes, state-of-the-art systems, exceptional accessibility, and a definite market presence.

Class B - Defined by BOMA as buildings competing for a wide range of usability in the average range for the area. Building finishes are fair to good for the area and the systems are adequate, but the building does not compete with Class A at the same price.

Class C - Defined by BOMA as buildings competing for tenants requiring functional space at below-average rents for the area.

Storage Tank Usage

Mnemonic: PZTKUS

If applicable to the property, use this field to select the type of storage tank the property uses. Possible selections are Septic Tank or Heating Oil.

Project Name

Mnemonic: PZPRJN

If applicable to the property, use this field to indicate the property's project name.

Property Features field group

Mnemonic: PZUNTK/PZDECM/LNOWNR/PZSNGL

Use the checkbox fields in this field group to indicate whether certain features exist on the property. Features available for indication are as follows:

•Underground Storage Tank

•Decommissioned - Mark this checkbox if the underground storage tank indicated in the checkbox above has been decommissioned.

•Owner Occupied - Mark this checkbox if the property is occupied by the owner.

•Single Tenant Building