Page 5 - Appraisal LaCour House

Summary Appraisal Report
Uniform Residential Appraisal Report File # DS050091-4
S A L E S
C O M P A R I S O N
A P P R O A C H
There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ t o $ .
There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ t o $ .
FEATURE SUBJECT
COMPARABLE SALE # 1
COMPARABLE SALE # 2
COMPARABLE SALE # 3
13972 Chenal Rd
A d d r e s s Jarreau, LA 70749-3406
4533 Foret St Addis, LA 70710
4122 Main St Addis, LA 70710
4553 Old Hwy 61
St Francisville, LA 70775
Proximity to Subject
19.18 miles SE
19.11 miles SE
11.20 miles N
Sale Price
$
$ 233,000
$ 240,000
$ 365,000
Sale Price/Gross Liv. Area
$ sq. ft.
$ 117.44 sq. ft.
$ 118.23 sq. ft.
$ 126.82 sq. ft.
Data Source(s)
MLS#2018004911;DOM 0
MLS#2017011698;DOM 132
MLS#2017006236;DOM 168
Verification Source(s)
Doc#573-131
Public Record/Court House
Public Record/Court House
VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION
+(-)$ Adjustment
DESCRIPTION
+(-)$ Adjustment
DESCRIPTION
+(-)$ Adjustment
Sale or Financing Concessions
ArmLth VA;0
ArmLth Conv;4750
ArmLth Conv;0
Date of Sale/Time
s04/18;c03/18
s01/18;c12/17
s02/18;c10/17
Location
N;Res;
N;Res;
N;Res;
N;Res;
Leasehold/Fee Simple
Fee Simple
Fee Simple
Fee Simple
Fee Simple
S ite
4.93 ac
24829 sf
+45,000
24928 sf
+45,000
3.31 ac
0
View
N;Res;Wtr
N;Res;
0
N;Res;
0
N;Res;
0
Design (Style)
DT1;CreoleCtg
DT2;Acadian
0
DT2;Acadian
0
DT2;Acadian
0
Quality of Construction
Q4
Q4
Q4
Q4
Actual Age
~268
99
0
~145
0
~100
0
Condition
C2
C2
C3
+20,000
C3
+20,000
Above Grade Room Count Gross Living Area
Total Bdrms. Baths
Total Bdrms. Baths
-7,500
Total Bdrms. Baths
-5,000
Total Bdrms. Baths
-7,500
3 1 1.0
7 4 2.0
-2,500
7 3 2.0
-2,500
8 4 2.1
-4,000
1,875 sq. ft.
1,984 sq. ft.
-4,360
2,030 sq. ft.
-6,200
2,878 sq. ft.
-40,120
Basement & Finished Rooms Below Grade
0sf 0rr0br0.0ba0o
0sf 0rr0br0.0ba0o
0sf 0rr0br0.0ba0o
0sf 0rr0br0.0ba0o
Functional Utility
Average
Average
Average
Average
Heating/Cooling
Central/Central
Central/Central
Central/Central
Central/Central
Energy Efficient Items
Typical
Typical
Typical
Typical
Garage/Carport
6dw
3dw
0
2cp2dw
-2,500
2gd2dw
-10,000
Porch/Patio/Deck
Porches
Porch
+2,500
Porches
Porches
Fireplace
FP-2
FP-3
-2,500
FP-2
FP-1
+2,500
Fence/Storage
None
None
Fence/Storage
-5,000
None
Miscellaneous
None
None
None
Workshop
-7,500
Net Adjustment (Total)
X+ - $ 30,640
X+ - $ 43,800
+X- $ -46,620
Adjusted Sale Price
of Comparables
Net Adj. 13.15 %
Gross Adj. 27.62 % $ 263,600
Net Adj. 18.25 %
Gross Adj. 35.92 % $ 283,800
Net Adj. 12.77 %
Gross Adj. 25.10 % $ 318,400
I X did did not research the sale or transfer history of the subject property and comparable sales. If not, explain
My research did X did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.
Data Source(s) MLS/Public Record
My research did X did not reveal any prior sales or transfers of the comparable sales for the prior year to the date of sale of the comparable sale.
Data Source(s) MLS/Public Record
Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).
ITEM
SUBJECT
COMPARABLESALE#1
COMPARABLESALE#2
COMPARABLESALE#3
Date of Prior Sale/Transfer
Price of Prior Sale/Transfer
Data Source(s)
MLS/Public Record
MLS/CoreLogic
MLS/CoreLogic
MLS/CoreLogic
Effective Date of Data Source(s)
07/08/2018
07/08/2018
07/08/2018
07/08/2018
Analysis of prior sale or transfer history of the subject property and comparable sales There is no prior sales history available for the subject
or comps within the last three years.
Summary of Sales Comparison Approach The above sales are the most recent sales of homes in the area for which reliable data
exist. The comparables used best represent the subject as for style, size and condition. Additional sales have
occurred that would support the final value estimate but would require greater adjustments than the comparables
employed. The comparables employed most typically represent the subject property. All adjustments made for
condition or quality of construction are based on information obtained through physical inspection and/or the MLS
listings.
Indicated Value by Sales Comparison Approach $ 318,000
R E C O N C I L I A T I O N
Indicated Value by: Sales Comparison Approach$ 318,000 Cost Approach (if developed) $ 322,000 Income Approach (if developed) $ 0
Our final value estimate is based on The Sales Comparison Approach with support from the Cost Approach. The
Income Approach is not considered to apply in this case as the subject is located in a primarily owner occupied area.
This appraisal is made X "as is," subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to the following required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair: There were no
abnormal repairs needed to the subject property.
Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting conditions, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is
$318,000 , asof 07/08/2018 , which is the date of inspection and the effective date of this appraisal.
FreddieMacForm70March2005 UAD Version 9/2011 Page 2 of 6 FannieMaeForm1004March2005
Noland Appraisal Service