The comparative unit method of cost estimation generally yields what type of costs?

The comparative unit method of cost estimation focuses on determining the cost of constructing a structure by comparing it to similar properties that have recently been built or sold. This method emphasizes what it would cost to replace a structure with a similar one that serves the same purpose, taking into account current costs of labor and materials. Therefore, it is most accurately associated with replacement costs.

Replacement costs reflect the expenditures necessary to construct a comparable item using modern materials and techniques. By considering the costs of closely resembling properties, this method provides a realistic estimation that reflects current market conditions, which aligns with the definition of replacement costs.

In contrast, reproduction costs would involve estimating how much it would cost to recreate an exact replica of the structure using the same materials and methods as the original, which is not the primary focus of the comparative unit method. Market value costs refer more broadly to the price buyers are willing to pay for a property in the current market, and investment costs might include additional variables such as financing and opportunity costs, which the comparative unit method does not directly measure.