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22014 -City of Elk River <br />Land Analysis <br />June 12, 2020 <br />Page 13 <br />SUMMARY OF FINDINGS <br />It is important to note that the comparable sales have not been adjusted to a specific subject <br />property and not all of the comparable sales presented herein have been verified. <br />Based on our investigation, unit sale prices for single-family, medium -density and high - <br />density residential land proximate to Elk River are summarized as follows: <br />Single -Family Residential Land <br />Range: $8,450 to $84,444 per Acre <br />Median: $41,000 per Acre <br />Mean: $42,223 per Acre <br />(Average 40.62 Acres with a <br />Density of 2.5 Units per Acre) <br />Excluding Outliers Sales 1, 7, 13, 15 <br />Range: <br />Median: <br />Mean: <br />(Average 32.15 Acres with a <br />Density of 2.4 Units per Acre) <br />$14,052 to $75,758 per Acre <br />$41,000 per Acre <br />$41,164 per Acre <br />Medium -Density Residential Land <br />Range: $1 1,689 to $124,598 per Acre <br />Median: $57,681 per Acre <br />Mean: $65,367 per Acre <br />(Average 16.44 Acres with a <br />Density of 7.1 Units per Acre) <br />Excluding Outliers Sales 5 and 6 <br />Range: <br />Median: <br />Mean: <br />(Average 17.25 Acres with a <br />Density of 6.5 Units per Acre) <br />$24,503 to $1 17,283 per Acre <br />$57,681 per Acre <br />$64,750 per Acre <br />PATCHER MESSNER <br />Valuation Counselors <br />