INCOME APPROACH

[Gilbert Ross Jr]

I spoke to a seller of a property of a property today in regards to a four family in Newark, NJ. When I look at the comps in the area the deal didn't give me the ROI I was looking for. He tells me that if I use the income approach the property is worth double what he is selling the property. When should I use the income approach? I look at the comps and ROI based on rental income. I would like to know when the income approach should be used and not used.