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Complete Appraisal Analysis- Summary Appraisal Report .
<br /> Valuation Section UNIF VI RESIDENTIAL APPRAISAL REPO?' File No. 980178
<br /> 71 ESTIMATED SITE VALUE =s 27,000 Comments on ijost Approach (such as, source of cost estimate,
<br /> Cj
<br /> ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS. site wive, square foot calculation and for HUD, VA and FmHA, the
<br /> $' Dwelling 1,152 Sq.Ft @ S 65.00 =s 74,880 estimated remaining econom,c Id. of the property): Reproduction
<br /> T.OnntFin 978 sq Ft C$ 12.00 = 11,736 cost figures were obtained from local building cost sheets
<br /> Deck,GeoThmCA,BIA = 5,500 and Boeckh's Building Valuation Manual. See sketch for
<br /> PGarage/Carport 748 sq Ft co s 12.00 = 8,976 square footage calculations. Age/Life method was used
<br /> P. Total Estimated Cost New.. .. . ...... . • ••. =$ 101,092 in determination of physical depreciation.
<br /> R Less 5.3 Physical Functional External
<br /> ID o.prenation 5,358 I I 3,000 =s 8,358
<br /> CDepreciated Value of Improvements. e$ 92,734
<br /> H -Aa-1a Value of Site Improvements =$ 6,000
<br /> . INDICATED VALUE BY COST APPROACH 125,700 =$ 125,734 Remaining Economic Life-61 Remainin¢Physical Life;71
<br /> .a.,. ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO 2 COMPARABLE NO 3
<br /> .' 11452 197th Ave.NW 10938 208th Ave. 12781 206th Ave.NW 21522 155th St.NW
<br /> Address Elk River Elk River Elk River Elk River
<br /> R__x::.7,1=-r=kt., 3.5 Miles
<br /> Proximity to Subject , . .�: -..; .75 Miles 1 Mile
<br /> ,..N�7 r, x _ at. 131,500
<br /> ,�-.�.:;/'y,s,��',• ;iz�.��t� „ri.;)u �,,,� r�t�4�p�^, s 108,500 ,.,,;k'... s
<br /> Sales Pnce s �N/A' �a., .:;,= ;�:�::�. s 119,000 .,,�•:, ��„�ii�,±`"�,���.,�,. ''"' '�;' �i'
<br /> N/A Ys,v,,. six;ice,;, :;,.,_.Rte;,, 's _ ,_,
<br /> Pnce/Gross LN Area s s 131.35 ,,, ,.�," ; s 91.33 s1,1.:;N,r, .0.•,I,s 122.67 '�r',��,...•�+r>:,- :_.
<br /> '.: Data and/or Inspection MLS MLS MLS
<br /> Verification Source Inspection County Records County Records County Records
<br /> ,' VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-)S Adjustment DESCRIPTION +(•)f Adjustment DESCRIPTION *(-)S Adjustment
<br /> '"' "Fujii"1`' `..°' , Conv. -0-Cony. -0-Cony. -0-
<br /> Sales or Financing ,:iwriiiitt,t,, .;,dnI,ih,,
<br /> ConcessionsV44P.,!„ca%i; .•"pi-
<br /> Date of Sale/Time :y?ir'I "1-`r _.,.. .. 08/28/97 -0-10/31/97 -0-01/29/98 -0-
<br /> ' Location Suburban Suburban -0-Suburban -0-Suburban -0-
<br /> "„' _ -. - — _. . .. ,- r.•... -'_ n n..,, c;.....t- -A-
<br /> ,ltF File No. 980178
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<br /> o�.��:x {;;�.. i,tix � r�tr � �:", :: ryJ..irL:` � ADDTONLCOMMENTS; - :-:M.7 .47,;,,•.J�',�.;:4i,,,,-�_ v=-41+ 5- gti. 4:�
<br /> - .u:= - .. --_ - - _i'vrld,•i�r-Y,r _ - ,°1•�_ -<i..'x.+. .L-r
<br /> wer oowneBecker.Cheryl
<br /> Property Address 11452 197th Ave.NW
<br /> city Elk River County Sherburne stat. MN zip Code 55330
<br /> Lender or Client Homestead Mortgage Corporation
<br /> COMMENTS ON SALES COMPARISON
<br /> External Inadequacies:
<br /> Some external obsolescence may be indicated due to the subject backing up to a commercial area. Buyer
<br /> resistance may be encountered due to increased traffic levels and noise.
<br /> Site:
<br /> The adjustments for comparables 1 and 3 are due to the comparables' superior site sizes. Said adjustments
<br /> reflect the "contribution value" of the excess land included with the comparables.
<br /> View:
<br /> The adjustments for comparables 1 and 3 are due to the above mentioned external obsolescence suffered by
<br /> the subject property.
<br /> Design/Appeal:
<br /> Due to limited data, comparables 1 and 2 were used although their designs differ from the subject. Said
<br /> designs are considered equal in this market.
<br /> . Age & Condition:
<br /> The adjustments for comparables 1 and 2 are due to the subject being newer construction and considered to
<br /> be in superior condition.
<br /> Additional Comments On Sales Comparison Analysis: j
<br /> Due to limited available closed data, comparable #1 was used although it's sale date is in,excess of 6
<br /> months from the date of this appraisal. No time adjustments are considered necessary in this market.
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