New investor question: prev year apprais lower than asking price

[Dhwani Shah]

Hey guys, new rookie investor here. I've honed down on my first quadplex and everything seems to be good. I just had a question about what to put in as my offer. I checked the auditor site on this property in the county and then checked the appraisal value section. This property appraisal for last year was 90k and right now the seller has listed this for 173k. Now running all the numbers and taking into account a worst-case scenario (3 units rented instead of 4 as it is currently, all 3 rents below market value, no renovations, etc.), I still had double-digit cash on cash return value and other numbers. And in the last year, they've done few renovations, but probably more like 10-15k max. So the numbers make sense, but should I be worried about the asking price of 173k when it was appraised for 90k in 2020? Should I offer them like 120-125k and tell them I've offered this because of the 2020 appraisal I found? Please help as I'm confused about how big of a role this finding plays. Thank you guys!

[Bruce Woodruff]

Appraisals have nothing to do with what a property is worth. Neither does the the value assessed by the County for it's property tax rolls.