The "Market Value" and "Return" metrics are given top billing on the Property and Portfolio dashboards precisely because we've found that many rental property investors struggle to track valuation regularly.

Stessa uses the original Zestimate obtained during property setup as the default valuation if it's available. If you click on the "Zillow Zestimate" field on the "Valuation Over Time" card from the property-specific dashboard, an updated figure is gathered from Zillow.

To update the value on your dashboard, click the kebab menu (three dots) and select "Update Valuation".

Next, a fly-out menu will appear that will allow you to select what methodology you would like to use for valuation.

After selecting a method, like Zillow Zestimate, remember to click "Save" at the bottom right.

We have found that the valuation estimates for single-family homes and duplexes are the most accurate, while estimates for larger multi-family properties may be less reliable.

You can easily change how the current valuation is calculated for any specific property by visiting your Property Details page. It simply involves choosing a different methodology.

Use "Custom Valuation" to key in your valuation directly.

Use "Gross Rent Multiplier" if this method prevails in your local market. Ensure your Rent Roll is fully updated and/or you've entered "Market Rent" estimates when using the GRM method. 

Finally, you can set the valuation based on an estimated "Cap Rate" applied to projected (actual or market) NOI with a vacancy assumption.

Have questions about how to set up a valuation?Use the blue circle in the bottom right to send us a message, and we'll respond promptly.