Which part of the narrative appraisal part is the essential core, containing the appraisal methodology, assumptions and limiting conditions, highest and best use feasibility, and the approach(es) used?

The essential core of a narrative appraisal is found in the section that encompasses analysis and opinions. This part outlines the foundation upon which the appraisal is built, detailing the appraisal methodology applied, the assumptions made, and the limiting conditions that may affect the appraisal's reliability. It also includes a discussion of the highest and best use analysis, which is crucial for determining the property's maximum potential value.

Moreover, this section summarizes the various approaches used in the appraisal process, whether they be the cost, sales comparison, or income approaches, and how they were integrated to arrive at a final value conclusion. The analytical depth and insights contained in this core section allow readers to understand the rationale behind the appraiser's opinions and conclusions, making it the keystone of the narrative appraisal report.