Question: (Appraisal) Write a reconciliation statement and conclusion of value based on the below facts: The subject property is a 75-year-old single-family residential home which originally
(Appraisal) Write a reconciliation statement and conclusion of value based on the below facts:
The subject property is a 75-year-old single-family residential home which originally sold for $210,000 20 years ago Three good/similar comparable sale prices are $216,000, $210,000, and $215,000 with net adjustments of -5%, +1%, and +6% respectively A very similar home across the street rents for $1700/month and Gross Rent Multipliers in the neighborhood have been estimated to be 120 Lot Values in the neighborhood are currently $50,000. The home originally cost $90,000 to construct and straight-line depreciation is the only option for depreciation despite the fact that the home has had several major remodeling efforts over the years
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