I had a cost approach app. done that came in at 110k after 13k in work was completed.I do not whant to do everything on the list because some of them are not worth the time or money for a rental.How do I best recaculate the value of the home? Do I just subtract the cost of the work left? It would be central air,new windows and a roof (9k).
Cost approach appraisals don’t reflect “market value”. Comparable sales do - what sellers are willing to sell for and what buyers are willing to pay. As a residential appraiser, we give very little weight to the cost approach except for new construction. My suggestions would be to find recent comps with the updates you mention and those in similar condition to your property at present to see what the real value add would be for your repairs.
Hope this helps