Clasisfication of class A, B, C, D ... MFH and apartments?

[Jerry N.]

I think I use to know what the classification of class A, B and C apartments meant but recently that knowledge has been challenged so here is my question.
Could this very from market to market or even investor to investor?
From what I have seen these terms have not been used uniformly by everyone.
As an example all my MFH are in the cities not towns.
Up to now I have classified these as B and C class. My C class is right in the city clean older building, safe street but areas around are mixed, there are some streets or buildings that I would rather not touch. My B class is still in city but more like a townhouse between 2 family and single family homes very quiet and safe neighborhood.
Recently I was investigating potential purchase that was presented to me as C class, however I was shocked with the condition or even amenities of that property. In my judgment this would have been E or F class property
Is there some sort of generic rule to classified property by location, price, condition or any other qualities?

Thank you.

[Matt R.]

Originally posted by @Jerry N.:

I think I use to know what the classification of class A, B and C apartments meant but recently that knowledge has been challenged so here is my question. Could this very from market to market or even investor to investor? From what I have seen these terms have not been used uniformly by everyone. As an example all my MFH are in the cities not towns. Up to now I have classified these as B and C class. My C class is right in the city clean older building, safe street but areas around are mixed, there are some streets or buildings that I would rather not touch. My B class is still in city but more like a townhouse between 2 family and single family homes very quiet and safe neighborhood. Recently I was investigating potential purchase that was presented to me as C class, however I was shocked with the condition or even amenities of that property. In my judgment this would have been E or F class property Is there some sort of generic rule to classified property by location, price, condition or any other qualities?
Thank you.

Great question. Here is my newbie take on the subject.

A= you and you family would live in it.

B= you and you family could live in it.

C= you and your family could live in it if it was emergency.

D= YOU WOULD RATHER BE CAMPING.