Page 5 - Appraisal Bayou House

Summary Appraisal Report
Uniform Residential Appraisal Report File # DS050091-3
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
13978 Chenal Rd
A d d r e s s Jarreau, LA 70749-3406
402 Pennsylvania Ave New Roads, LA 70760
801 E Main St Brusly, LA 70719
4533 Foret St Addis, LA 70710
Proximity to Subject
6.59 miles NW
17.73 miles SE
19.19 miles SE
Sale Price
$
$ 157,000
$ 185,000
$ 233,000
Sale Price/Gross Liv. Area
$ sq. ft.
$ 121.42 sq. ft.
$ 117.98 sq. ft.
$ 117.44 sq. ft.
Data Source(s)
MLS#2017016024;DOM 7
MLS#2016013897;DOM 25
MLS#2018004911;DOM 0
Verification Source(s)
Public Record/Court House
Doc#560-201
Doc#573-131
VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION
+(-)$ Adjustment
DESCRIPTION
+(-)$ Adjustment
DESCRIPTION
+(-)$ Adjustment
Sale or Financing Concessions
ArmLth FHA;0
ArmLth FHA;5000
ArmLth VA;0
Date of Sale/Time
s12/17;c10/17
s01/17;c10/16
s04/18;c03/18
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
10132 sf
+80,000
15506 sf
+75,000
24829 sf
+45,000
View
N;Res;Wtr
N;Res;
0
N;Res;
0
N;Res;
0
Design (Style)
DT1;Acadian
DT1;Victorian
0
DT1;Victorian
0
DT2;Acadian
0
Quality of Construction
Q4
Q4
Q4
Q4
Actual Age
~198
~76
0
~76
0
99
0
Condition
C2
C2
C2
C2
Above Grade Room Count Gross Living Area
Total Bdrms. Baths
Total Bdrms. Baths
Total Bdrms. Baths
-1,500
Total Bdrms. Baths
-3,000
5 2 1.0
5 2 2.0
-1,500
7 3 1.0
0
7 4 2.0
-1,500
948 sq. ft.
1,293 sq. ft.
-15,525
1,568 sq. ft.
-27,900
1,984 sq. ft.
-46,620
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
3dw
3dw
4cp4dw
-2,500
3dw
Porch/Patio/Deck
Porch
Porch, Patio
-1,000
Porch
Porch
Fireplace
FP-2
FP-1
+2,500
None
+5,000
FP-3
-2,500
Fence/Storage
Boathouse/Fen
Fence/Storage
+7,500
Fence/Stg/Bonus
0
None
+12,500
Miscellaneous
None
None
None
None
Net Adjustment (Total)
X+ - $ 71,975
X+ - $ 48,100
X+ - $ 3,880
Adjusted Sale Price
of Comparables
Net Adj. 45.84 %
Gross Adj. 68.81 % $ 229,000
Net Adj. 26.00 %
Gross Adj. 60.49 % $ 233,100
Net Adj. 1.67 %
Gross Adj. 47.69 % $ 236,900
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 $ 234,000
R E C O N C I L I A T I O N
Indicated Value by: Sales Comparison Approach$ 234,000 Cost Approach (if developed) $ 236,600 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
$237,000 , 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