Income Approach to Valuation

Fall 2026 – (30 Hours w/optional 3-hour exam)

NJ CTA & Appraisal Board Recert Credits: 30 Hours

8 EVENING CLASSES 3.5 HOURS plus 1 EVENING 2 HOUR CLASS

• 3.5-hour classes: September 9, 10, 14, 16, 17, 21, 22 (5:00 PM – 9:00 PM)
• 2-hour class: September 24 (5:00 PM – 7:00 PM)

Exam: Self-scheduled through IAAO with Proctor Free following the last class.

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Course Description

IAAO Course 102 – Income Approach to Valuation

This course provides students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of vacant or improved properties using the income approach.

Topics include real estate finance and investment, capitalization methods and techniques, analysis of income and expenses to estimate operating income, selection and development of capitalization rates, and application of the income approach.

This same information is taught to real estate appraisers on the private side by the Appraisal Institute. IAAO courses qualify students to take higher appraisal education courses.

Recommended: Property Assessment Valuation (PAV) textbook (3rd edition also used in Course 101)

Questions on Course and Content

Contact Sue Davison
Email: scdavison@hotmail.com
Phone: 609-425-5275

Email registration only to Sue Davison

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Registration Information

Registration: Course 102 ****** Class is limited to 10 students.

Mail Registration and Payment to NJIAAO address below.

Registration Ends and materials must be ordered on August 14, 2026.

Student Reference Manual Included in Registration Fee.

Please note on Registration Form if you are purchasing the PAV textbook for an additional $50.

Mail Registration and Payment to:

NJ-IAAO c/o Erin Serfass
4567 Route 9 North
Howell, NJ 07731