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THE COST APPROACH <br /> LAND <br /> The land value is estimated based on sales of unimproved sites <br /> in the subject community and surrounding communities. Consider- <br /> ation is given to the absence of public sanitary sewer value. <br /> IMPROVEMENTS <br /> The repalcement value is shown with the property in asis condition <br /> and no consideration is made for incurable factors in the property . <br /> RESIDENCE <br /> 1140 SF @ 48 PSF $ 547720 <br /> FIREPLACES @ each <br /> CENTRAL AIR CONDITIONING. <br /> PATIOS, DECKS & PORCHES $ 700 <br /> GARAGE $ 5 ,800 <br /> TOTAL REPLACEMENT COST NEW $ 61 , 192 <br /> DEPRECIATION <br /> PHYSICAL 10% $ 6,000 <br /> FUNCTIONAL <br /> ECONIMIC <br /> TOTAL DEPRECIATION FROM ALL CAUSES ($ 69000) <br /> NET REPLACEMENT VALUE OF IMPROVEMENTS $ 55 ,192 <br /> SITE IMPROVEMENTS $ 4 ,000 <br /> 1. <br /> SITE VALUE $ 309000 <br /> REPLACEMENT VALUE BY THE COST APPROACH $ 89 , 192 <br />