Property classes refer to a property classification system used to determine the potential of an investment property based on a combination of geographic, demographic, and physical characteristics.
It is important to note that the difference in each property class is relative to the market it is in.
What are Class A properties?
Class A. These properties represent the highest quality buildings in their market and area. They are generally newer properties built within the last 15 years with top amenities, high-income earning tenants and low vacancy rates. Class A buildings are well-located in the market and are typically professionally managed.
What is a Class B property?
A class B property, based on the above-mentioned features, is a property that is generally older, typically has lower income tenants, and may or may not be professionally managed.
What is a property type?
Real estate listing have property types (or building types) fields to describe the kind of property for sale. Also, often people refer to their homes by property type when they describe them to others. For example someone might say they live in a townhouse, or a half duplex.
What is Class C home?
Class C Real Estate
A Class C location is likely a lower-income area with homes that are old—30 years or more. This area tends to attract people who are either on government subsidies or working low-wage jobs.