Which of the following is not an approach to determining property value?

The due diligence approach is not a recognized method for determining property value. Property valuation typically involves well-established methodologies that quantify an asset's worth based on various factors.

The cost approach assesses value based on the cost to replace or reproduce the property, minus depreciation. This method is especially useful for properties that are unique or where comparable sales data is limited.

The market comparison approach, also known as the sales comparison approach, determines value by comparing the property in question to similar properties that have recently sold in the market. This is a widely used method that relies on current market data to provide an estimate of a property's worth based on actual sales figures.

The income capitalization approach focuses on the income-generating potential of a property. It estimates value based on the expected future cash flows and their present worth, making it especially relevant for investment properties where rental income plays a vital role.

Understanding these distinct approaches is crucial for real estate professionals and investors, as they provide systematic ways to evaluate and understand property value.