On a one-unit investment property, the market rent figure that feeds a DSCR loan rarely comes from a spreadsheet or a property manager’s estimate. It comes from Form 1007, an addendum the appraiser completes alongside the standard appraisal report. This page covers what the form is and what it contains. For how lenders actually use the number it produces — and what to do when it comes in low — see our guide to how the 1007 rent schedule works.
What the form is
Form 1007, the Single-Family Comparable Rent Schedule, is a standard appraisal addendum used on one-unit residential properties that are rented or will be rented. It is ordered together with the primary appraisal report (typically Form 1004) rather than as a separate assignment, and it is completed by the same appraiser during the same inspection.
What it contains
The form identifies a small number of comparable rental properties near the subject, records their rents, and adjusts each one for differences from the subject — size, condition, bedroom and bathroom count, and amenities. The appraiser reconciles the adjusted comparables into a single opinion of the subject’s market rent, which is the figure that appears on the completed form.
When lenders order it
A lender orders a 1007 whenever a one-unit property’s rental income matters to the loan decision — which, for a DSCR loan, is essentially always. It is ordered whether the property is currently tenanted or vacant, since even a leased property may need an independent market rent opinion under some lenders’ policies.
How it differs from the 1025 and 216
Form 1007 applies to one-unit properties only. A two-to-four unit property uses Form 1025 instead, which builds its own unit-by-unit rent analysis directly into the appraisal report rather than through a separate rent-schedule addendum, often alongside Form 216.
What the form is not
It is not a lease, a survey of the subject’s actual rental history, or a guarantee of achievable rent. It is one appraiser’s reconciled opinion on one date, built from a handful of comparable rentals — which is exactly why two 1007s on the same property can differ, and why the figure is worth checking before relying on it.
Form 1007 (Single-Family Comparable Rent Schedule) FAQ
The appraiser, at the same time as the standard appraisal inspection. It is not something the borrower or a property manager completes.
On a one-unit property, most DSCR lenders order one because the market rent figure is central to qualification. Policies vary by lender.
No. Two-to-four unit properties use Form 1025, which includes its own rent analysis, rather than a separate 1007 addendum.
It reflects long-term market rent, so lenders with a short-term rental program typically rely on different documentation for those properties.
Lenders generally allow a reconsideration request supported by additional rental comparables or documentation. See our full guide for how that process works.