Question: You are using the cost approach ( replacement ) to value a property. A new home similar to the property your appraising sells for $

You are using the cost approach (replacement) to value a property. A new home similar to the property your appraising sells for $440,000. You have been given a table to help in making the final adjustments to your valuation. Carpet replacement cost $11/sq. ft. Tile replacement cost $15/sq. ft. A single furnace has a replacement cost of Five thousand dollars (20 years - useful life). Roof replacement is $4/sq ft.(useful life 16 years). Based on the inspection data below, what should your property appraise at?
There is 1,100 sq. ft. of carpet with no useful life. There is 300 sq. ft. of tile in the front hall and bathrooms that is cracked and will need to be replaced. The furnace is 14 years old. The roof is 3,300 sq.ft. and was replaced 14 years ago. Bonus Question
(If your answer is $508,234 enter 508234)

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