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GRM Statistical Data <br />All Data <br />12 Comps) <br />Most Recent Data <br />High <br />Low <br />High <br />Low <br />14.36 <br />7.80 <br />14.36 <br />10.71 <br />Average <br />Median <br />Average <br />Median <br />10.41 <br />10.36 <br />12.08 <br />11.62 <br />Most Comparable Homes <br />Reconciled <br />Data <br />High <br />Low <br />High <br />Low <br />10.71 <br />7.80 <br />12.08 <br />9.02 <br />Average <br />Median <br />Average <br />Median <br />9.14 <br />9.02 <br />10.47 <br />10.38 <br />RECONCILED GROSS RENT MULTIPLIER <br />10.50 <br />There was a good supply of rental comparables found in the market over the past +/- 6 years within a +/- 5 mile <br />radius of the subject property that includes portions of nearby Otsego, Ramsey, St. Michael and Nowthen. <br />Although some data is older, the rental rates appear to be increasing proportionally with the sales prices, therefore, <br />older GRM data is still generally supportive of the current market. Additional GRM data was available; however, <br />the corresponding sale was too distant from the rental date to be considered. Comps #10 and #11 were properties <br />that were listed for rent and for sale at the same time. Both properties were ultimately rented rather than being <br />sold; however, the list price at the time of rent was utilized to estimate a GRM. A 1 % reduction to the list price <br />was applied to reflect the market list/sale ratio of 99%. The <br />Many of the GRM comparables were significantly newer homes and commanded much higher rents; however, <br />their overall sale prices were proportionally higher; therefore the GRM's for these sales are considered relevant. <br />The most recent data and the most comparable homes were given the most consideration in reconciliation. The <br />available market data indicates a reconciled GRM for the subject property of 10.50. <br />Calculations of severance damages as it applies to the subject are as follows. <br />ESTIMATE OF SEVERANCE DAMAGE TO SUBJECT REMAINDER <br />Rental Rate Severance <br />7Estid <br />Rent Loss <br />Annual Rent Loss <br />Gross Rent Multiplier <br />Value Extension <br />$50/month <br />$600/year <br />10.50 <br />$6,300 <br />Other Severance Damages <br />$0 <br />ESTIMATE OF SEVERANCE DAMAGE <br />DUE TO THE ACQUISITION OF PARCEL 229C <br />$6,300 <br />S.P. 7102-135RW C.S. 7102 (10=3) 902 Parcel 7102-902-229C Page 47 <br />