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171rrDNALrtss EscRFT as SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT a A s,r. .,-c File No.0 16 DAA Pmpertyadan 5457 Netherwood Road, West Lender dlecrelor.ry use City Oregon county Dane stow WI zip code 53575 _ Sale price $ Legelduedptbn Lot 1, CSM 1097, Sec 3-5-9, Town of Oregon Odes Irene*red $ t)mrr/onolid Deane, Barbara A. Taxyrr 1992 RE uxn$2,275.78 Closing date Selo Flag REFINANCE ad of sale 5/73 canoe bed 125 Mepraler•nce Mortgage amount$ Properly right.appraised LX I F..Sinew 1 1 L.u.hoid] f Condominium or[l Piro HOAS /Mo. Modp.g.type --.-- BOrmLwr Dune. Bar ra A. Pro)ed Name Discount pints and other concessions tran drigeVoalasNabi to a paid by Weer$ Paid by teller s L nd.r/c*sd THE PARK BANK Source Ap relwrRobert Heinzel Nni:3hbor her d Loaltn •Urban •Suburban ES Rural Predominant Single family housing Neighborhood enolyais Good Av Fair Poor Built up •Over 75% ■25-15% II Under 25% occupancy $(1000 AGE Employment stability © • • • Growth rate •Rapid ©Stable •Slow Q Owner 8 Low Convenience b employment ■ El • • Property velum El hcr.adng •Stable •Declining IN Tenant 150 High 2 Conv.a.nc.lo shopping • © • • Dem.nd/.uppy•Shodage 13 in balance •Oder R py Li V.cent(0-5%) Predominant Convenience to schools ■ [4 • IS Marketin.time ©Under 3mos. I]3-6mos. DAY 6no. •Varad(var5 125 15 Ad4aLYdpt0cswaprtsia■ © • Typical 2-4 Wily bldg. Type Frame Present land use S Lend nee Change 2-4 family housing WCr••lion I.clliii.. • © • • PRICE AO No.Medal 1-2 No.unite 2 One family 8 Q Not likely sS�1 b,r A Adequacy of utilities • © ■ • Age 20 yr.Condition CQOd 2-4 family 2 8 LIkely 100 Low 1 0 Property Compabbllly IA In ■ • Typical rent.5 g50h$ 6 0 MultIlamlly In proses' 140 High 2 Pro*clon Ion*tiniestown IN CI III 1111 Increment Li 4,50h$ Stable • , Commercial To Predominant Pollee a nn protcebn • EI • • E.L neighborhood apt vacancy < % Industrial 12 1 -20 Geawappsswro.aptac.rtes El • • ■ • Increseln EI Roble ■. • • Vacant •0 Rent controls ■®hl No 1111 el to market El • • • Net ilea and V.racial composition el Me neighborhood an not considered rtteble appraisal hydro. DeecrlplIonof neighborhood boundaries:The subject is located in the Town of Oregon along the south side of a town road. The subject area is bordered by a town road approximately 1.5 miles to the west and County Road $51 approximately 1 mile to the east. Deecdpgon of Ma.e facbra.favorable or unfavorable,bet elect merketabiNy(Including neighborhood shbiliy,appeal,property andirr.vacancies.*rent control..tc). The subject is located approximately one mile west of the Village of Oregon, which provides most of the area's urban sery ices/facilities. Most employment is centered in Madison, approximately ' 6 miles to the north. The area en o a .00d rural amenities and access. Housin: is com•rised of smell farms, scattered homesites along town roe• and small rural/suburban plats. The subject is c. • tibia with surroundin. housin. with no adverse factors a...rent. TI.P*mIIIg singable hangs represent le moat Curren,sinter.std mends con ellw properties to We subject properly In the shied neighborhood This analysis is intended to evaluate Fs inventory wmnby on the market competing with We sub(.et property In bo subject neighborhood and rar.nt price and meeting gm.bonds effecting the eubjed propery. . outside the e • et nel. , .,.are not cartaidemd • .The Ns .. rabies can be the mild or sat• . rabies II am cure br sale. ITEM SUBJECT COMPARABLE LISTING NO.1 COMPARABLE LISTING NO.2 COMPARABLE LISTING N0.3 5457 Netherwood Road, Was 518/20 W Milwaukee St 500-02 W Miltaukee St 6351 Goose Lake Dr. Address Ore.on C Stou•hton C Stou;hton T Verona 9 Miles East • Miles East Miles West EZITZMIIII$ N/A lEjlEalli Fum.S 11 000 f©®■ Fum,S 11 000 1EI®11 Fum.S 1 . 900 Appmdm•WOBA 1920 Sq.Ft. 2100 SF 2100 SF 2400 cats song Innpection MLS ML.S 1Q g •( la/T.L nmsfBIVBA 2 101 41 • 21 8 [ 41 2 21 8 1 41 2 21 10 1 61 2 Appmdrnafe yen bndlt 1973 1974 1975 E 1968 ex an madiet /ORM /105 /110 /123 compedeonimmmp.baubpclnppry:pue to limited number of listings similar to the subject in the immediate area an ex.-nded •e••ra•hical search was necessar . The above are the most cos. noble listings verifiable. They tend to indicate • CRM range for similar type units. woaneSalor ascription and r.yia of Ms genes meet Cendibone gal seed 2-4 May properties In Ms subI.cl neighborhood kidding the Om heg odoadbdabmdpret rab prop/Overuse domend/suppy.and meddling En.)and be prevalence and Impact in We Build meet sues reputing loan esaurit kdernl btyd wi rand iencalaiwill.and lanbecstion of trends In gating prices,average days on market and any change over peel year.sic.: Dane County MS statistics show a large as orit of recentl Closed sales Inc uded conventional financin• and were on the market 120 de s or less for the market overall. Seller concessions are not of significant occurrence. There is lit le difficult in obtainin- financ n, for owner-occu•ied 2-4 units however nvestor finanoin. is more expansive and restrictive. Dane County employment is typioally the owest in the state due to a hi.h •r•••rtion in the 'overnment sector. The sub act nei•hborhood has 00d marketabilit and no adverse conditions. on.neioa 145,E 404 _—� Topsgrspry Basically Level Clean 58580 Sq.Ft. ./- _ ConmriotUNo Dreg Site Above Average for Area mregdeaagasetwancdpgr, Residential - Duplex Shape Rectangular Zoning compliance ®Legal Legal nonconforming(Gendherredad) U Illegal 0 No zoning Drainage Appears adequate Highest I beet us..eImproved: i8 Premium 0 Meuse(expyln) View Residential/Fields Landscaping Lawn end Plantings UtiIke Public Other OB-die improvement' Type Relic Privets Dhveway Asphalt Electricity X Street Asphalt App.mdwe.ede Typical Utility Gas Curb/guar None Water Well Mown* None FEMA ' Wiley sewer t iQ Street lights None Special flood heard era. U 2 (J No Sloan Sewer � Ai � Nate FEMAZa./MyDets zone C/9/29/78 Alley FB+A Mw No. 5500770375A Commis(apparent edam eaeamento encroachments,special a.eannerda..Nde areas.msgrd or.gat re nombilvlrp toeh%te,air4 air. The subject has • typical rural/suburban lot with a paved driveway. mature lawn and plantings. Bordering •r••erties are con•-table with no adverse conditions a.. rent. read.user.e n west-r eel's woe PAGE 1 OP 4 'ewe nr t..to N rain SIN n«w......or..T.•...n o«.«....W.4..111e6 ern-..... Benchmark Appraisal Services LTD Z0 39Gd NNVWZ1CS 13' ZlIWIV-1 8SOTPLZ809 6V:L0 L66T/ZO/b0