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  4. Cost Approach Module

Valcre Online: Cost Approach Module Overview

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Ben Pantoja

Build and manage a cost approach analysis for your subject property directly in Valcre Online, supplemented with data from the Marshall & Swift API.

Table of Contents

Prerequisites

  • Subscription Tier: Valcre for Government

Overview

Cost Approach is a dedicated workspace in Valcre Online for running a cost analysis on the subject property, without leaving the platform. It brings together your property's building data with cost data sourced from the Marshall & Swift API, so you spend less time re-entering figures that already exist elsewhere.

A Cost record is created from a Property record and can also be linked to a Job, so your cost analysis sits alongside the other records supporting an assignment.

 

Why Use Valcre's Cost Approach Module?

  • Less manual data entry. Occupancy, base cost per square foot, and component costs are pulled in from Marshall & Swift API instead of being typed in by hand.
  • Auto-fill from your Property record. Fields like Stories, Gross Building Area, and ZIP / Local Area populate automatically from the linked property.
  • Multi-building and multi-section support. A single Cost record can hold multiple buildings, and each building can hold multiple sections.
  • Centralized and linked. View, filter, search, and sort Cost records the same way you already work with Properties, and open any linked Cost record directly from the Property's Related tab.

How it works

Create a Cost record from a Property, or select Cost from the left-side navigation menu to view all existing Cost records.

Create a Cost record

From a Property record, open the Add menu and select Cost to create and link a new Cost record.

Open an Existing Cost Record

Select Cost from the left-side navigation menu to view and search all existing Cost records.

Find linked Cost records 

Any Cost record linked to a property appears in a section on that property's Related tab, with a direct link to open it.

 

Features

Section Setup

Section Setup is where you define the attributes that drive the rest of the calculation for each building section:

  • Section Type
  • Occupancy Category and Type
  • Construction Class
  • Quality
  • Shape
  • Stories
  • Story Height
  • Gross Building Area

Some of these fields auto-fill from your linked Property record (Stories, Gross Building Area, ZIP / Local Area), and some pull from the Marshall & Swift API (Section Type, Occupancy Fields, Construction Class). Next, use Fetch Costs or Refresh Data to pull the latest cost figures once you configure each section.

Costs

The Costs tab calculates Direct Building Costs by applying the Marshall & Swift API base costs and component costs against Local Area, Current Cost, Story Height, Number of Stories, and Floor Area/Perimeter multipliers, producing a Final $/SF and a Direct Building Cost Total (shown per building and in aggregate).

Within this tab:

  • Components can be added from the Marshall & Swift API library by category, including HVAC, vertical transportation, walls, and sprinklers.
  • Cost Behavior toggles control whether default walls, default HVAC, and a basement section are included in the cost table.
  • Additions let you add costs that fall outside the Marshall & Swift API base calculation; addition rows are subtotaled and carried into the Direct Building Cost Total.
  • Indirect Building Costs apply a supported market range and concluded percentage to produce an indirect cost total, which combines with direct costs and additions into a Final Building RCN Total.
  • Replacement Cost New Reconciliation

Insurable Cost

The Insurable Cost tab layers Indirect Costs, Entrepreneurial Profit, Demolition, and Replacement Cost Exclusion onto the Direct Building Cost Total to produce an Insurable Replacement Cost Total

Manual Override and Refresh Data

  • Manual Override unlocks Marshall & Swift API-sourced fields for editing within the Cost record only. Changes made here do not affect the linked Property record.
  • Refresh Data pulls the latest values from the linked Property record and Marshall & Swift API. You'll see a confirmation dialog before this happens, since existing data and manual edits will be replaced. This also picks up building-level changes, such as additions, deletions, and Gross Building Area updates, and reflects them in Section Setup and downstream.

Frequently Asked Questions

 

Q: Can I link a Cost record to a Job? Yes. You can link a Cost record to a Job from either the Cost record or from the Job record. You can only link a Cost record to a Job that has the same property as the subject.
Q: Where does Marshall & Swift data come from? Cost Approach integrates with Marshall & Swift MSVPO API to pull occupancy, base cost per square foot, and component costs.
Q: Can I edit a value that came from Marshall & Swift? Yes, using the Manual Override toggle on the Costs tab. This only affects the Cost record, not the linked Property record.
Q: What happens if I click Refresh Data? You'll see a confirmation dialog explaining that existing data and manual edits will be replaced. Confirming pulls the latest Property and Marshall & Swift API data, including any changes to buildings (additions, deletions, GBA updates).
Q: What if I add a new building after linking my Property record? You will need to select the Refresh Data icon to pull in the new building, then complete section data for the new building before pulling in cost values. 
Q: Will this require my own API subscription to Marshall & Swift?

No. Cost Approach uses Valcre's own integration with the Marshall & Swift API. You don't need a separate Marshall & Swift account, license, or API subscription of your own to use this feature.

Ready to get started? Review the Using the Cost Module guide for more information on creating and setting up a Cost record in Valcre Online.

 


 

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