Which line item in the Cost Approach section captures the appraiser's opinion of value for the property?

In the Cost Approach section, the line item that captures the appraiser's opinion of value for the property is the indicated value by cost approach. This value is derived after the appraiser has considered both the site value and the cost of improvements, along with depreciation factors that might affect the total valuation.

The indicated value represents the appraiser's conclusion after analyzing how much it would cost to replace the property, minus any deductions for physical or functional obsolescence. Moreover, it synthesizes the elements of the cost approach into a singular expression of value that reflects the appraiser's professional judgment about the worth of the property as it stands, based on the cost perspective.

Understanding this concept is essential for interpreting appraisal reports and for grasping how different valuation methodologies converge to depict an overall value for a property.