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Uniform Residential Appraisal Report File# 2018-008 <br /> See Attached Addendum. <br /> A <br /> D <br /> D <br /> T <br /> O <br /> N <br /> A <br /> L <br /> C <br /> 0 <br /> M <br /> M <br /> E <br /> N <br /> T <br /> S <br /> COST APPROACH TO VALUE (net required by Fannie We) <br /> Provide adequate information for the lender/client to replicate the below cost figures and calculations. <br /> Support for the opinion of site value(summary of comparable land sales or other methods for estimating site value) <br /> The data utilized in arriving at our estimated site value was obtained from(but not limited to)the multiple listing service, assessors <br /> CO data,local real estate professionals&contractors,and the appraisers experience. <br /> S <br /> T ESTIMATED n REPRODUCTION OR n REPLACEMENT COST NEW OPINION OF SITE VALUE =$ 95,000 <br /> A source of cost data Appraiser Experience/Local Builders/Assessor Dwelling 2,907 Sq.Ft.a$ 165.85 =$ 482,126 <br /> Quality rating from cost service Gd Effective date of cost data 01/2018 Bsmt 2,127 sq.Ft.a$ 32.14 =$ 68,362 <br /> p Comments on Cost Approach(gross living area calculations,depreciation,etc.) Built-fns 35,000 <br /> R The appraiser experience, discussions with builders, developers, Garage/Carport 864 Sq.Ft.a$ 27.81 =$ 24,028 <br /> Aand assessor data were reviewed in estimating the reproduction Total Estimate of Cost-New =$ 609,516 <br /> C cost new. No functional or economic obsolescence was Less Physical Functional External <br /> H observed. Site value based on the highest & best use as if Depredation =$( <br /> vacant and is supported by site sales in the area and similar Depredated Cost of Improvements =$ 609,516 <br /> neighborhoods that would directly compete with the subject 'As-is' Value of Site Improvements =$ 25,000 <br /> neighborhood. See Comments.... <br /> Estimated Remaining Economic Life (HUD and VA only) 75 Years Indicated Value By Cost Approach =$ 730.000 <br /> SCONE APPROACH TO VALUE (not required by Fable MW) <br /> C Estimated Monthly Market Rent$ 0 X Gross Rent Multiplier 0 =$ y Approach <br /> Summary of Income 0 IndicatedValueb Income <br /> ry Approach (including support for market rent and GRM) <br /> E <br /> PROJECT INFORIIMTION FOR PUDs (Y applicable) <br /> Is the developer/builder in control of the Homeowners' Association (HOA)? I I Yes r—I No Unit type(s) I Detached r !Attached <br /> ll Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit. <br /> D Legal name of project <br /> ,e bqr w 1�..- <br /> os _ Total number of units Total number of units sold <br /> N T onu otal number of units rented Total number of units for sale Data Source(s) <br /> F Was the project created by the conversion of casting building(s)into a PUD? Yes No If Yes,date of conversion <br /> O Does the project contain any multi-dwelling units? Yes No Data Source(s) <br /> MAre the units, common elements, and recreation facilities complete? Yes <br /> No If No,describe the status of completion. <br /> A <br /> Are the common elements leased to or by the Homeowners'Association? I I Yes I I No If Yes,describe the rental terms and options. <br /> O <br /> Describe common elements and recreational facilities <br /> Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 3 of 6 <br /> Fann ie Mae Form 1004 March 2005 <br /> Michael Milia Appraisal Service <br />