RockSpringCluB-Hendricks Appraisal.pdf

THE COMPARATIVE APPROACH - AS A VALUATION INDICATOR Adjustment Grid Analysis Conditions of Sale: Market Conditions of Sate: Market Conditions of Sale Market Conditions of Sale. Market Adjusted Price Adjusted Price Per Lot: $291,200.00 Adjusted Price Per Lot $394,231.00 Adjusted Price No. Potential Lots: 66 Lots No. Proposed Lots: 25 Lots -10% ‘No. Proposed Lots: 50 Lots No, Proposed Lals 78 Lots No. Proposed Lots: 62 Lots Shape: Imegular Shape: Inegular Shape: Inegular ‘Shape: Inegular Topography, Level-Rolling Topography: Level-Rolling Topography: Level-Rolling Topography. Level-Rolling Topography: Level-Rolling Avg, Lot Size: 4.83 Acres Avg, Lot Size: 2.54 Acres. - 5% Avg. Lot Size: 1.25 Acres Avg. Lot Size: 1.00 Acres +5% Miscellaneous: ne) Development Is Miscellaneous: Development ovals 20% Miscellaneous: Miscellaneous: Development -20% Avg. Lot Size: 0.50 Acres Miscellaneous: +10% Development Approvals -20% The adjusted sales range from $147,138.00 to $335,096.00 per lot. Elimination of extremes reduces the range to $164,000.00 to $247,520.00 per lot. The mid-range or average of all sales is found at $223,438.00 per residential building lot. In my opinion, based on the adjusted sales data included above a value in the mid-range (rounded) or $225,000.00 per residential building lot has been accepted for each of the subject's potential sixty-six (66) residential building lots. 00.00 On the following pages will be found a brief discussion and rationale for the comparative adjustments applied. REALESTATE APPRAISALS a & RESEARCH