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TaiVlMdUII \IUII ■ ni 'n IESTIMATED SITE VALUE ............................ <br />ESTIMATED REPRODUCTION COST-NEW OF IMPROVEMENTS: <br />130,000 <br />Dwelling 3.541 Sq.Ft. 9 $ 80.00 <br />Bsmt.Fin. 1100 Sq.FI. 9 $ 30.00 <br />283.280 <br />^.000 <br />See attached addendum 25.000 <br />Qarage/Ceipoit 637 Sq.FL 9 $ 15.00 <br />Total Estimated Cost New................................ <br />9.555 <br />Less Physical <br />Depreciation 45.609 <br />Functional <br />350.835 <br />External <br />45.609 <br />Depreciated Value ol Improvements <br />*As-ls* Value ol Site Improvements <br />■ $ <br />- S <br />305.226 <br />15.000 <br />File No. S70401B <br />Comments on Cost Approach (such as. source of cost estimate, <br />site value, square foot calculation and lor HUD. VA and FmHA. the <br />estimated remaining economic tile ol the properly); Cost source <br />data is obtained from Marshall Swift and <br />local cost services. <br />Physical depreciation is calculated bv an <br />analysis of the effective age/remalninp <br />economic life concept. <br />The remaining economic life for this <br />60 to 62 years. <br />1 ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3160 Smith A <br />1 Address Orono <br />venue 1889 West Farm Road <br />Orono <br />2285 Abingdon Way <br />Orono <br />155 Wear Lane N. <br />Orono <br />1 Proximity to Subiec 1.5 Mile Northwest .75 Mile West 1 Mile West____________ <br />1 Sales Price $ N//S 372 • OOC'396.000 $ 392.500 <br />Price/Gross Uv. Area $ 0 $ 108^.20 0l»:lii««$ 138.90 0i«i»iiM S 148.06 <br />Data and/or <br />Verification Sources Inspection MLS/Plat Systems MLS/Plat Systems MLS/Plat Systems_________ <br />VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION «(*)$ Adjustment DESCRIPTION 1 <br />Sales or Financing <br />Concessions <br />Cash or <br />Ec^ual <br />Conyentional <br />No Concess. <br />Conyentional <br />No Concess. <br />Conventional <br />No Concess. <br />Vi- <br />Date of Sale/Time insD. 4/97 Clsd. 10/96 Clsd. 8/96 Clsd. 8/96 <br />Location Suburban/Ave Suburban/Aye Suburban/Aye Suburban/Ave <br />Leasehold/Fee Stmole Fee Fee •Fee Fee <br />Site 2.36 acre 2.07 acre 2.0 acre 2.30 acre <br />View Wooded Wooded Wooded Wooded <br />Deaiqn and Appeal 2-Story 2-Story 2-Story 2-Story <br />Quality of Construcfion Good Inferior 25.000Good Good <br />LAqe 10 years 8 years l_________________10 years 2 years______-5.000I <br />Condition Ayeraee Averaee Averaee .Superior -5.000IAbove Grade <br />Room Count <br />Gross Living Area <br />Total ! Bdrmt ! Baths Total ! Bdrmt ! Baths <br />2,000 <br />____5.200 <br />Total ! Bdrmt ! Baths <br />2,000 <br />34.500 <br />Total ! Bdrmt ! Baths <br />2,000 <br />44.5001 <br />8:4: 3.?8 ; 4 : 2.5 8 i 4 : 2.5 7 • 3 •' 2.5 <br />3.541 Sg. FI.3.438 Sg.FI.2.851 Sg. FI.2.651 Sg. FI. <br />Basement & Finished <br />Rooms Below Grade <br />Full; WO <br />FR ER Bath <br />Full; WO <br />EB_________.7.500 <br />Full; WO <br />FR BR Bath <br />Full; No WO <br />FR BR Dn Bath <br />2,000| <br />Functional Ulllllv Ayeraee Ayeraee Averaee Averaee______ <br />Heatino/Coolinq FWA/Ctrl Air 'WA/Ctrl Air FWA/Ctrl Air FWA/Ctrl Air <br />Energy Efficient Items EEC EEC EEC EEC <br />Garaqe/Carport 3 Car Attach.3 Car Attach.3 Car Attach.3 Car Attach. <br />Porch. Patio. Deck. <br />Fireplace(s). elc. <br />ScrPrc/Dk/Ptc <br />2 Fireplaces <br />Deck/Patio <br />2 Fireplaces <br />4,0003SeaPrch/Deck <br />2 Fireplaces <br />-4,000Deck <br />1 Fireplace <br />5,000 <br />2.500I <br />Fence. Pool. etc.None None None NoneBuilt-ins Built-ins Built-ins Built-ins BuiIt-ins <br />Net Adi. (total)JL* - 43.700 X ♦ - :$ 32.500 X ♦ 1 - :$ 46.0001 <br />Adjusted Sales Price <br />of Comparable $ 415.700'»■■■ it .28.500;it'SiSfi, 1 <br />Comments on Sales Comparison (including the subject property's compatibility to the neighborhood, etc.); See Attached Addendum. <br />ITEM SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 <br />Dale. Price and Data <br />Source tor prior sates <br />within year of appraisal <br />N/A <br />N/A <br />Plat Systems <br />N/A <br />N/A <br />Plat Systems <br />N/A <br />N/A <br />Plat Systems <br />N/A 1 <br />N/A <br />Plat Systems 1 <br />N/A <br />440.000INDICATED VALUE BY SALES COMPARISON APPROACH................................................................................................................. $ <br />INDICATED VALUE BY INCOME APPROACH (If Applicable) Estimated Market Rent S_________N/A /Mo. x Gross Rent MulUplier N/A » $ N/A <br />This appraisal is made (J(J ‘as is* (_| subject lo the repairs, alterations. Inspections or condiHons listed below ' _J subject to compielion per plans and speciHcations. <br />Conditions ol Appraisal: See Attached Addendum. <br />Final Reconciliation The comparison approach is most applicable as it best represents buyer behavior. Cost <br />approach.lends additional support. Income approach is N/A due to the lack of data for rental <br />investment. -- - - - - - - <br />The purpose ol this appraisal is lo estimate the market value ol the real properly that Is the subject ol this report based on the above conditions and the certification, contingent <br />and limiUng condiUons^andmaiket value deflnilion that are staled in the alUched Freddie Mac Form 439/Fannle Mae Form 1004B (ftevised 6/23________)• <br />I (WE) ESTIMAJElHE MA^T VAL9ET)AS DEFINED, OF THE REAL PROP JTTY THAT IS THE SUBJECT OF THIS REPORT. AS OF Apr i 1 23. 1 997 <br />(WHICH IS THt DATE OFJNSPEC ANp THE EFFECTIVE DATE OF THIS REPORT) TO BE $ 440.000 <br />APPRAISE)<: ------- <br />Signature <br />Name Paul H. Lofetl^n.^ <br />SUPERVISORY APPRAISER (ONLY IF REQUIRED): <br />Signature <br />Name <br />Date Report Signed April 23, 1^97 Date Report Signed <br />Q Did Q Did Not <br />Inspect Properly <br />State Certification f State Stale Certification #State <br />4000512 State mN Or State License #State <br />PAGE 2 OF 2 <br />Tim vw prtdJM4 an Tl« Afcrtmrt O mko LM«rf «rM aytiem 909 tUAJM rannit M«t Form 1004 6/93