What are the four major categories of required comparability when selecting improved property sales for capitalization rate development?

The correct choice highlights critical factors for comparability when selecting improved property sales for capitalization rate development. Amenities, such as features and services associated with a property, can significantly influence its market value and desirability, making them essential for accurate comparisons. The land-to-improvement ratio reflects the relationship between the value of the land and the improvements on it, which is vital for understanding the intrinsic worth of a property within its market context. Expense ratios relate to operational costs in relation to revenue, providing insight into profitability, which is crucial when determining capitalization rates. Lastly, understanding the remaining economic life of a property helps to assess how much longer it can provide value, guiding investors in their financial projections.

These considerations collectively ensure that appraisers select comparables that align closely with the subject property, yielding a more accurate and reliable capitalization rate assessment.