This course is designed for agents who work with — or want to work with — two to four unit residential properties. Whether your clients are first-time buyers, experienced investors, or sellers trying to price a multi-family listing accurately, this course gives you the framework to serve them well.

Two-to-four unit properties are a specialized segment of the market. They are financed like residential properties but valued with income in mind. That combination creates unique challenges — and unique opportunities for agents who understand both sides of the equation.

Course Content

Before You Begin
Start Here
Course Welcome and Objectives
2-4 Unit Properties - The Essentials
What Makes 2-4 Unit Property Valuation Different
The Two Buyer Profiles — Owner-Occupant vs. Investor
The Three Approaches to Value
Essential Terms — Valuation and Income
Essential Terms — Financing
Essential Terms — Leasing and Operations
Top Red Flags in Multi-Family Listings
1 Quiz
Section 1 Mastery Quiz — Foundations of Multi-Family Valuation
Comparable Sales for 2-4 Unit Properties
Why Comparable Selection Is Different in Multi-Family
What Makes a Good Multi-Family Comparable
Bracketing and Adjustments — The Discipline
Comparable Selection — What to Watch For
Exercise — Which Comp Is Best?
1 Quiz
Section 2 Mastery Quiz — Selecting Comparables
Markets for 2-4 Unit Properties
Location’s Role in Multi-Family Value
How Markets Differ — A Two-Market Comparison
Risk vs. Return Trade-offs in Multi-Family
Why Income and Comparable Sales Both Matter
Market Adjustments — Supportable vs. Subjective
1 Quiz
Section 3 Mastery Quiz — Market Analysis
2-4 Unit Properties - Income
Why Income Is Central to Multi-Family Valuation
Final Quizzes
Final Exam — 2-4 Unit Property Valuation
Course Evaluation — Understanding Value in 2-4 Unit Properties