Page 4 - Appraisal Bayou House

Summary Appraisal Report
Uniform Residential Appraisal Report File # DS050091-3
The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.
S U B J E C T
Property Address 13978 Chenal Rd City Jarreau State LA Zip Code 70749-3406
BorrowerJackHolden Owner of Public Record JackHolden CountyPointeCoupee
Legal Description 4.93 ACRES; N/2 OF TRACT "C" PATIN SURVEY IN SEC. *** See Additional Comments ***
Assessor's Parcel # 00333720 Tax Year 2017 R.E. Taxes $ 118
Neighborhood Name Maison Chenal Map Reference Census Tract9522.00
Occupant X Owner Tenant Vacant Special Assessments $ 0 PUD HOA $ 0 per year per month
Property Rights Appraised X Fee Simple Leasehold Other (describe)
Assignment Type Purchase Transaction Refinance Transaction X Other (describe) ASSET VALUATION
Lender/Client The Baton Rouge Area Foundation Address 100 North Street, Suite 900, Baton Rouge, LA 70802
Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of the appraisal? Yes X No
Report data source(s) used, offering price(s), and date(s). Per MLS and FSBO, no sales and/or listing history has been found for the
last 12 months.
C O N T R A C T
I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not
performed.
Contract Price$ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s)
Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes No If Yes, report the total dollar amount and describe the items to be paid:
N E I G H B O R H O O D
Note:Race and the racialcomposition ofthe neighborhood are notappraisalfactors.
Neighborhood Characteristics One-Unit Housing Trends
One-Unit Housing
Percent Land Use %
Location Urban Suburban X Rural Property Values Increasing X Stable Declining
PRICE AGE
One-Unit 65 %
Built-Up Over 75% X 25-75% Under25% Demand/Supply Shortage X InBalance OverSupply
$(000) (yrs)
2-4 Unit %
Growth Rapid X Stable Slow Marketing Time Under 3 mths X 3-6 mths Over 6 mths
50 Low 50
Multi-Family %
Neighborhood Boundaries *** See Additional Comments ***
475 High 200
Commercial %
200 Pred. 75
Other 35 %
Neighborhood Description The general area is characterized by a wide ranging mix of single family homes on slabs and piers
with traditional style. The area is considered to have adequate access to schools and employment. The general area is
primarily residential and all homes are uniform in style and size.
Market Conditions (including support for the above conclusions) Overall market conditions in the defined neighborhood have shown
increase in price and sales volume during the past 18-24 months. An adequate supply of conventional financing is
availabe. The market time for properties in this area appears to be 6-12 months.
S I T E
Dimensions As per plat Area 4.93 ac Shape Rectangular View N;Res;Wtr
Specific Zoning ClassificationRural Zoning Description Single Family Residential
Zoning Compliance X Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)
Isthehighestandbestuseofthesubjectpropertyasimproved(orasproposedperplansandspecifications)thepresentuse? X Yes No IfNo,describe
Utilities Public Other (describe) Public Other (describe) Off-site Improvements--Type Public Private
Electricity X W ater X Street 2 Lane Asphalt X
Gas X Sanitary Sewer X Individual Sewer Alley None
FEMA Special Flood Hazard Area Yes X No FEMA Flood Zone C FEMA Map No. 2201400385B FEMA Map Date 07/16/1981
Are the utilities and off-site improvements typical for the market area? X Yes No. IfNo,describe
Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes X No IfYes,describe
No adverse easements or servitudes were apparent during our inspection. Only a land survey will verify easements and
encroachments and the flood zone.
I M P R O V E M E N T S
General Description
Foundation
Exterior Description materials/condition
Interior materials/condition
Units X One One with Accessory Unit
Concrete Slab X Crawl Space
Foundation W alls Piers-Avg
Floors Wood-Good
# of Stories 1.00
Full Basement Partial Basement Exterior Walls Wood/Plaster-Avg
W a lls Bousil/Plst-Good
Type X Det. Att. S-Det/End Unit
Basement Area 0 sq. ft.
Roof Surface Wood-Avg
Trim/Finish Wood-Gd
X Existing Proposed Under Const.
Basement Finish 0 %
Gutters & Downspouts None
Bath Floor Wood-Gd
Design (Style) Acadian
Outside Entry/Exit Sump Pump
Window Type Wood-Avg
Bath Wainscot Wood-Avg
Year Built ~1820
Evidence of Infestation
Storm Sash/Insulated None
Car Storage None
Effective Age (Yrs) 25
Dampness Settlement
Screens None
X Driveway # of Cars 3
Attic None
Heating X FWA HWBB Radiant
Amenities WoodStove(s)# 0
Driveway Surface Gravel
Drop Stair Stairs
O ther Fuel Electric
X Fireplace(s) # 2 X Fence Wood
Garage # of Cars 0
Floor X Scuttle
Cooling X Central Air Conditioning
Patio/Deck None X Porch Front
Carport # of Cars 0
Finished Heated
Individual O ther
Pool None X Other BtHse
Att. Det. Built-in
Appliances X Refrigerator X Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)
Finished area above grade contains: 5 Rooms 2 Bedrooms 1.0 Bath(s) 948 Square Feet of Gross Living Area Above Grade
Additional features (special energy efficient items, etc.) Typical for the homes in the area.
Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). C2;Kitchen-updated-timeframe
unknown;Bathrooms-updated-timeframe unknown;The subject did not appear to have any items that were inadequate.
My inspection revealed no functional or external inadequacies. The improvements are found to be in relatively good
condition with no noted deferred maintenance. It appears to be well maintained and constructed.
Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes X No IfYes,describe
The routine inspection of the subject property did not indicate the presence of any hazardous material or adverse
conditions.
Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? X Yes No If No, describe
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 1 of 6 FannieMaeForm1004March2005
Noland Appraisal Service