What does "Effective Year Built" mean?

The term "Effective Year Built" refers to the estimated age of a property based on its current condition and any renovations or updates it has undergone. Unlike the actual year built, which indicates the year a property was originally constructed, the effective year built reflects the apparent age of the property after considering factors like modernization and wear and tear. This metric is commonly used in real estate appraisals and property assessments to provide a more accurate representation of a property's current state and value compared to its chronological age.

Make real-time data your competitive advantage!

Schedule a demo below to see our multifamily analytics platform and APIs in action.