No two investors will own and operate a property the same way.
The party designated to receive a remainder estate. But what does that number tell you? Does it tell you what your return will be if you use financing? No. No two investors will own and operate a property the same way. It is not the end all and be all of valuation, nor should it be.
Does it take into account the different finance terms available to different investors? No. Depending on the exactness desired, you can use as many as you like. Many real estate investors determine the value of an income property by using the capitalization rate, aka cap rate. Using the terms given then, the loan constant for that loan would be . You can also tweak the numbers to reflect the way you will own and manage the property. Administration or insured by the Federal Housing Administration. Each of these cap rates is then weighted based on the loan-to-value ratio of each of the debt and equity positions to build the "overall cap rate. But take care evaluating the operating expenses to uncover any anomalies that exist under the present ownership.
Surface features of land; elevation, ridges, slope, contour. That is an increase of 50 percent over the previous year. It is entirely possible for two investors to look at the same property and come up with two different NOIs, and two widely divergent values, and both are right.
An improvement that is less than a property's highest and best use. Anything owned and tangible, other than real estate. Now please note that I said at the beginning that this is a starting point. It is probably the one most misused concept in real estate investing.