Actual Project Assumptions . . . For the sales comparison approach, the analysis relies on the following set of assumptions: Market conditions: 0.1 percent per month (values have increased in neighborhood). Lot size: $150,000 per acre. Construction quality: All brick is $7,000 more than all siding ($3,500 more than brick front); brick front is $3,500 more than all siding ($3,500 less than all brick). Effective age: $2,000 per year. Living area: $70.00 per square foot. Porch, patio, deck area: $21.00 per square foot. Pool area: $9,000 Bath: $5,000 per full bath. . . . . . In addition, the following assumptions are needed to complete the sales approach with the Actual set of assumptions: Comparable Sale 1, weighting: 50% Comparable Sale 2, weighting: 30% Comparable Sale 3, weighting: 20% For the cost approach, the appraisal relies on the following set of assumptions: Living area, estimated cost of reproduction: $95.00 per sq. ft. Garage, estimated cost of reproduction: $9,100 Appliances, estimated cost of reproduction: $3,800. Physical depreciation: 8% of total improvement costs. Functional obsolescence: None. External obsolescence: None. Site value, estimated: $52,000. Landscaping and other miscellaneous site improvements, current value: $6,000. . . L! 3 + AV Read aloud Draw Highligh Actual: In addition, the following information is available for three comparable properties. Subject Elements of Comparison Sale price of comparable Comp Sale 1 $245,800 Comp Sale 2 $279,040 Comp Sale 3 $220,900 Transaction characteristics Property rights conveyed Financing terms Conditions of sale Expenditures immed, after purchase Market conditions Fee simple Conventional Arm's length Same Same Same None This month Same Same Same None 6 mos, ago Same Same Same None 12 mos. ago Today Property characteristics Parkway Estates Same Same Same Location Physical characteristics Site/lothize Construction quality Effective age Living area Number of baths Garage spaces Porch, patio, deck Fence, pool, etc. Economic characteristics Use Nonrealty components 0.30 acres Siding/brick 5 years 2,290 sq. ft. 3.0 baths 2-car ft. Pool N.A. Single-family None 0.30 acres Siding/brick 4 years 2,140 sq. ft. 2.5 baths 2-car None Pool N.A. Same None 0.41 acres Brick 3 years 2,349 sq. ft. 4.0 baths 2-car 250 59. ft. None NA Same None 0.2 acres Siding 8 years 1,970 sq. ft. 3.0 baths 2-car None Pool N.A. Same None 350 54 Actual Project Assumptions . . . For the sales comparison approach, the analysis relies on the following set of assumptions: Market conditions: 0.1 percent per month (values have increased in neighborhood). Lot size: $150,000 per acre. Construction quality: All brick is $7,000 more than all siding ($3,500 more than brick front); brick front is $3,500 more than all siding ($3,500 less than all brick). Effective age: $2,000 per year. Living area: $70.00 per square foot. Porch, patio, deck area: $21.00 per square foot. Pool area: $9,000 Bath: $5,000 per full bath. . . . . . In addition, the following assumptions are needed to complete the sales approach with the Actual set of assumptions: Comparable Sale 1, weighting: 50% Comparable Sale 2, weighting: 30% Comparable Sale 3, weighting: 20% For the cost approach, the appraisal relies on the following set of assumptions: Living area, estimated cost of reproduction: $95.00 per sq. ft. Garage, estimated cost of reproduction: $9,100 Appliances, estimated cost of reproduction: $3,800. Physical depreciation: 8% of total improvement costs. Functional obsolescence: None. External obsolescence: None. Site value, estimated: $52,000. Landscaping and other miscellaneous site improvements, current value: $6,000. . . L! 3 + AV Read aloud Draw Highligh Actual: In addition, the following information is available for three comparable properties. Subject Elements of Comparison Sale price of comparable Comp Sale 1 $245,800 Comp Sale 2 $279,040 Comp Sale 3 $220,900 Transaction characteristics Property rights conveyed Financing terms Conditions of sale Expenditures immed, after purchase Market conditions Fee simple Conventional Arm's length Same Same Same None This month Same Same Same None 6 mos, ago Same Same Same None 12 mos. ago Today Property characteristics Parkway Estates Same Same Same Location Physical characteristics Site/lothize Construction quality Effective age Living area Number of baths Garage spaces Porch, patio, deck Fence, pool, etc. Economic characteristics Use Nonrealty components 0.30 acres Siding/brick 5 years 2,290 sq. ft. 3.0 baths 2-car ft. Pool N.A. Single-family None 0.30 acres Siding/brick 4 years 2,140 sq. ft. 2.5 baths 2-car None Pool N.A. Same None 0.41 acres Brick 3 years 2,349 sq. ft. 4.0 baths 2-car 250 59. ft. None NA Same None 0.2 acres Siding 8 years 1,970 sq. ft. 3.0 baths 2-car None Pool N.A. Same None 350 54