05-13-2002 Board of Appeal and Equalization Reconvened Packet

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4705 NORTH SHORE DRIVE - PID#07-117-23-32-0058 Owner - Andrew & Trac> Rascher There is a two-car garage with storage below. There is no stairway inside the garage to the storage area. There are approximately 37 steps from the garage to the house and there are additional 11 steps on the side of the house to the ya^. There are an additional 16 steps to a landing area and then ten steps to the dock. Our recommended value includes a 15% deduction from the land value for the stairs and a 5% addition for the landscaping, for a total deduction from the land value of 10%. The site has approximately 11S ffon the street and 190 ITon the shoreline. We are using an effective frontage of 160 ff. The site has a ravine running to the shore on the northwest side and it has a bluff like shoreline that flattens out as you head southeast on the shore. Potential comparables include: 4753 North Shore Drive (07-1 l7-23-32-(X)58) - Sold in December 2001 for $258,000. This site has 50 ff and a 1.75 story house, built in 1920 with approximately 820 sf. The site is high and bluff like shoreline. It has a steep staircase in poor condition to the dock. The house is close to the road. There are approximately 12 stairs from the garage to the house and it is difficult to park a car in front of the garage because of the garage proximity to the street. 4685 North Shore Drive (07-117-23-32-0056) - Sold in December 2000 for $699,000. This site has 68 ff and 95 eff frontage and a two-story house, built in 1920 with approximately 3,528 sf. The house is located below street level with a very steep driveway to the garage. There is a slope to the shoreline and it has some boulder retainer walls mid yard. There is a sand beach. 4195 Highwood Lane (07-117-23-44-0022) - Sold in December 2001 for $825,000. This site has 150 ff and 145 eff frontage and a two-story house, built in 1925 with approximately 3,180 sf. The site is bluff like with a steep staircase. The house is located at street level and they are currently putting an addition the house. The fee appraisal. Mr. Rascher had done for re-flnancing, included three comparables. The appraiser estimated Mr. Raschers lot at $145,000. The Trst comparable is located on West Arm bay in Spring Park and the site has 50 ff. It sold in October 2001 for 5430,000 (4490 West Arm Rd). The second Ciarable was located on North Arm bay and the site has 40 ff. It sold in February 2001 for $410,000 (880 Windjammer La). 1'his property was bought with the intent of tearing it down, but the owner ran into setback problems and they decided to do a major addition and then gutted the house. The third comparable is located on North Arm bay and the site has 55 ff. It sold in July 2001 for $395,000 (605 Park La). The appraisers estimated value as of November 2001 was $425,000.