Indicative Net Asset Value - iNAV

See: Net Asset Value (NAV).

Net Asset Value is a mutual fund-y term, but it applies to any asset. Take a yacht with market value of $25 million, but which comes with $2 million in must-repair damages and $5 million in debt. So its net asset value is, at least notionally, $18 million, assuming someone really will pay that for it today in cash.

That net value is only indicative of the market value of the yacht; it'll be way more than indicative if a real buyer shows up with real cash ready to buy today.