Does income approach appraisal value mean anything?

[Jose Lopez]

Hello everyone,  I just received the appraisal report back for our first rental property (scheduled to close first week of Jan).  In the report it gave a sales approach, cost approach, and an income approach.   I understand the difference between the 3,  but not sure what significance they have, for example when leveraging a property.  

Any information or feedback would be sincerely appreciated! 

[Brian Garrett]

The income approach only matters on 5+ unit properties in terms of valuing them.

Anything 4 units or less is considered residential and is valued strictly based on comps.