Question: Looking for help with COMP #1 (in 1st image) - the 2st image is the appraisal kit that is used to figure it out. (3rd


Looking for help with COMP #1 (in 1st image) - the 2st image is the appraisal kit that is used to figure it out. (3rd image is the excel form that I follow to list this) any ideas?

FRL 306 Appraisal Toolkit Assignment You have been asked to make value adjustments on a property that has sold at #3 Pony Lane. These are the pertinent characteristics of the subject property Sales price $1,440,000; Site 2 Acres, City Lights View, Traditional Design, Quality of Construction 02, Condition is c2, 4 Bedrooms, 3 baths, 3,200 gross living area, Average Functional Utility, 2-car garage, In-Ground Swimming Pool You have identified 3 comparable sales as requested: Comp #1: 33 Rockinghorse Road, sold for $1,390,000 on a 1.5 Acre lot. It has a residential average view, Traditional Design, Quality of Construction 02, Condition is C2, 4 Bedrooms, 3 baths, 3,150 gross living area, Average Functional Utility, 2-car garage, without a pool. Use the following values for property characteristics: Site is valued at $10,000 per .5 acres City lights view is valued at $25,000 Design/Style, Quality of Construction and Condition are EACH valued at $10,000 for every grade change. Gross Living Area is valued at $150 per square foot. Bedrooms are $10,000 each Bathrooms are $5,000 each A carport is worth $15,000 less than the same sized garage. Garage spaces are worth $5,000 each. A pool is worth $25,000 Submit the appraisal toolkit completed with this new data via Canvas. YOU NEED TO DELETE THE EXAMPLE DATA SHOWN. Subject Comp 1 $1,390,000.00 Fee Simple Fee Simple Refinance Conventional Elements Sales Price Transaction Elements Rights Adjusted Price Financing Adjusted Price Conditions of Sale Adjusted Price Expenditures Immediately After Purchase Adjusted Price Market Conditions Adjusted Price 0% $1,390,000.00 0% $1,390,000.00 0% $1,390,000.00 0% $1,390,000.00 0% $1,390,000.00 2/27/22 11/2017 2 AC 1.5 AC City Lights View Residential/AVG Traditional Traditional Q2 Q2 Property Characteristics Date of Sale Site View Design/Style Quality of Construction Actual Age Condition Room Count Gross Living Area Functional Utility Heating/Cooling Garage/Carport Porch/Patio/Deck Pool $0.00 $25,000.00 $0.00 $0.00 $20,000.00 $0.00 $20,000.00 $55,000.00 $472,500.00 $0.00 $0.00 $10,000.00 C2 4bed/3 bath C2 4bed/3 bath 3,200 3,150 AVG AVG FWA C/Air 2 Car Garage FWA C/Air 2 Car Garage Pool No Pool $0.00 Net Adjustments $602,500.00 Adjusted Sales Price $1,992,500.00 FRL 306 Appraisal Toolkit Assignment You have been asked to make value adjustments on a property that has sold at #3 Pony Lane. These are the pertinent characteristics of the subject property Sales price $1,440,000; Site 2 Acres, City Lights View, Traditional Design, Quality of Construction 02, Condition is c2, 4 Bedrooms, 3 baths, 3,200 gross living area, Average Functional Utility, 2-car garage, In-Ground Swimming Pool You have identified 3 comparable sales as requested: Comp #1: 33 Rockinghorse Road, sold for $1,390,000 on a 1.5 Acre lot. It has a residential average view, Traditional Design, Quality of Construction 02, Condition is C2, 4 Bedrooms, 3 baths, 3,150 gross living area, Average Functional Utility, 2-car garage, without a pool. Use the following values for property characteristics: Site is valued at $10,000 per .5 acres City lights view is valued at $25,000 Design/Style, Quality of Construction and Condition are EACH valued at $10,000 for every grade change. Gross Living Area is valued at $150 per square foot. Bedrooms are $10,000 each Bathrooms are $5,000 each A carport is worth $15,000 less than the same sized garage. Garage spaces are worth $5,000 each. A pool is worth $25,000 Submit the appraisal toolkit completed with this new data via Canvas. YOU NEED TO DELETE THE EXAMPLE DATA SHOWN. Subject Comp 1 $1,390,000.00 Fee Simple Fee Simple Refinance Conventional Elements Sales Price Transaction Elements Rights Adjusted Price Financing Adjusted Price Conditions of Sale Adjusted Price Expenditures Immediately After Purchase Adjusted Price Market Conditions Adjusted Price 0% $1,390,000.00 0% $1,390,000.00 0% $1,390,000.00 0% $1,390,000.00 0% $1,390,000.00 2/27/22 11/2017 2 AC 1.5 AC City Lights View Residential/AVG Traditional Traditional Q2 Q2 Property Characteristics Date of Sale Site View Design/Style Quality of Construction Actual Age Condition Room Count Gross Living Area Functional Utility Heating/Cooling Garage/Carport Porch/Patio/Deck Pool $0.00 $25,000.00 $0.00 $0.00 $20,000.00 $0.00 $20,000.00 $55,000.00 $472,500.00 $0.00 $0.00 $10,000.00 C2 4bed/3 bath C2 4bed/3 bath 3,200 3,150 AVG AVG FWA C/Air 2 Car Garage FWA C/Air 2 Car Garage Pool No Pool $0.00 Net Adjustments $602,500.00 Adjusted Sales Price $1,992,500.00
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
