Laserfiche WebLink
�Q� <br />� <br />b � C <br />f� H <br />> N <br />N rZ <br />� H � <br />o m o <br />ti m N <br />M y � <br />°z n o <br />c~i :" n <br />7 H � <br />. <br />� N H <br />tl N <br />n c m <br />�xa�era <br />H O m <br />i'.r �� : <br />v � <br />As noted in land sale r3, iuhich is adjacest to =,ibject on tz� sides and <br />oras appraised by thi� �opraiser including subject in 1986, it is bei.ng <br />sold at 120� of it` assct�ed value. <br />Subjec.t is tax z392J-00�-:c�3 �lus 10 £eet of Lot 3, which is assessed <br />in tax n3929-005-001-02. tts "as is" assessed value is $168,000 for <br />the land and $95,100 f.�r the improvements, with a total of $213,100. <br />It is the opinion uf tt�is anpraiser that the assessed value of s�il�ject':; <br />i-rprovements in th�ir. "as is" �ndition is very la•� and the assessed <br />land value is based L^�on 25,200 �uare feet instead of 27,000 square <br />feet. <br />Zncreasing the land value by approximately 7�s to $180,000 and doublir.g <br />the im{�rovenent value to $90,000, we have an adjusted tatal assessed <br />value of $270,000. <br />Sales ;il and n2 indicate prices of 146'� and 192% of their assessed values. <br />Sales ;2 and ',`•3 have had e�:tensive impmvements m�de ta their i�rovc�nents <br />since acquisition. <br />Subject's adjusted assessed value is $270,000. 135% of $270,OD0 is <br />$369,500. This is an indication of subject's market value in its "as <br />is" condition. Estimating the cost of the proposed ir.g�rovements at <br />$75,000 to $90,000, we have an indicated range in value of $439,SOU tc <br />$?59,500. <br />Eased upon the foregoing, it is the opinion of this anpraiser that the <br />indicated market value of subject fsc�n the Market Data A[�proach to Value, <br />in fee su�le interest, as of tfay 2, 1988, is: <br />FCYJR hUD]DRID FURTY-FIVE 2HIX7SADID DOLLP.P,S <br />�$na5,000) <br />CORk2F7A'rI0t�1 AI�ID CON�,USION OL•' UA.T.UE <br />The value indicated by the three approaches to value are: <br />Cost Anproach to Value 5?�6,000.00 <br />Incane Approach to Value $^.30,900.00 <br />Market IIata Approach ta Value $495,000.00 <br />'.!ypically, the Cost Appmach ta Value sets the upper limit of value based <br />upon the "theory of substitution" or cost of duplication. Zhe land value <br />data and mst ne�v data is very goo3. Only the depreciation has a lar9e <br />degree of subjectivity. <br />'it�e Incrcre Appnxch to Value has limited data but the data is very verifiable <br />from amer-ocamants and anpraisals of older properties that t�ave soid <br />to a•mer-occupants. <br />S� <br />p <br />