Real Estate Appraisal Report - 1984

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MARKET DATA-PUBLIC SANITARY SERVICE The following sales of improved properties are offered as evidence of the value of the property after installation of the municipal sanitary sewer system and hook-up by the owner of the property. Sale #1 138 Upper Lea Ln. , Long Lake, MN This 1977 rambler containing 1522 SF of finished area sold in August , 1984 for $102, 500. The site is smaller than the subject, the residence contains 3 bedrooms , 2 baths , central air conditioning , one fireplace and a 2 car attached garage. This sale is adjusted for differences in amenities and indicates a value for the subject of $97 ,700.. Sale #2 1.23 Chevy Chase Dr. , Orono MN This 1822 SF residence sold in May , 1984 for 123,000 with Conventional financing at market rates. The age of the residence is 1955. The finished area contains 3 bedrooms, 2 baths, central air conditioning, 2 fireplaces, 2 car attached garage and walkout lower level which contains a large family room. The location is superior to the subject, the' site is equal. Making -the- adjustment for the amenities indicates a value for the subject of. $100,600. Sale #3 61 S ad wood Rd. Orono MN This rambler with second story ormer addition containing 1565 SF of finished area was sold for $125,000 in April, 1984. The residence contains 4 bedrooms, 2 baths , 3 fireplaces , 1 car attached garage. The, site is smaller than the subject and- the age is equal. The' property requires decorating and some exterior maintenance to bring it into line with the condition of the subject. Adjustment for location indicates a $8 ,000 reduction and adjustment for finished area requires $6 ,000 addition, Condition of this property requires at least $7 ,500 adjustment. Other differences adjusted indicatd a value for the subject of $•1001,..700:,... After analysis of these. comparable sales , the appraised market value range for the subject is indicated to be $97 , 700 ' to $100; 700.