Multi-family valuation question

[Ty Martell]

When trying to determine the value of a multi-family property does that value come from the income the property producers regardless of how big or small the multi-family property is? for example, is the value of a 2-4 unit multi-family property based on how much income it producers or is it based on comps in the area? Also confirming that a 5+ unit rental value is based on Income it produces.