How the property gets valued shifts once you cross four units. Up to four, most appraisers still lean on comparable sales adjusted for rent. At five units and above, the number comes from stabilized net operating income divided by a capitalization rate, and a lender will typically require a report from an Appraisal Institute of Canada designated appraiser before advancing funds.
Briarwood is a newer suburb still filling in, which usually means a smaller and less established renter pool than a central Saskatoon neighbourhood, and that changes vacancy risk without changing the valuation method itself. A second suite added without a City of Saskatoon permit will not count toward rental income for financing purposes regardless of how the numbers look on paper.
A price pulled from a citywide average alone is very likely wrong in one direction or the other for a specific Briarwood property. Get your hand-reviewed valuation from Joel Dyck.