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Test and Problem Solution in Management Asset
Typology: Assignments
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Elements of Comparison Subject Comp Sale 1 Comp Sale 2 Comp Sale 3 Sale price of comparable $510,000 $525,000 $499, Transaction characteristics Property rights conveyed Fee Simple Same Same Same Financing terms Conventional Same Same Same Conditions of sale Arm's length Same Same Same Expenditures immed. after purchase None $3,000 None Market conditions Today 3 mos. ago: add 2% total 6 mos. ago: add 4% total 6 mos. ago: add 4% total Property characteristics Location Huntington Huntington Kensington Millhoper Physical characteristics: Site/lot size 6,662 sq.ft. 6,700 sq. ft. 6,800 sq. ft 6,600 sq.ft Construction quality Typical Typical Typical Typical Effective age 5.5 years 7 years 8 years 10 years Living area 3,473 sq. ft. 3,920 sq. ft. 3,985 sq. ft. 3,835 sq. ft. Number of baths 3.0 baths 3.5 baths 3.0 baths 2.0 baths Garage Spaces 2-car 2-car 2-car 1-car Porch, patio, deck Cov. porch/wood deck Cov. Porch Cov. Porch Cov. Porch Fence, pool, etc. None None Pool Pool Economics characteristics N.A. N.A. N.A. N.A. Use Single-family Same Same Same Nonrealty components None None None None
Fence, pool, etc. None^ $- $(12,000.00) $(12,000.00) Additional pool are worth $ Economics characteristics N.A. $- $- $- Use Single-family $- $- $- Nonrealty components None $- $- $- Final adjusted sale price $486,680.00 $484,030.00 $485,770. Sale price- Final adjusted sale price $23,320.00 $40,970.00 $13,230. Weighting 30.08% 52.85% 17.07% 100% Invers 69.92% 47.15% 82.93% 200% Invers Weighting 34.96% 23.57% 41.47% 100%
Source Final Adjusted Price Weight (%) Weighted Price Comparable Sale 1 $486,680.00 34.96% $ 170,137. Comparable Sale 2 $484,030.00 23.57% $ 114,107. Comparable Sale 3 $485,770.00 41.47% $ 201,432. Indicted Opinion of Value (using the sales comparison approach) $ 485,677. (rounded) $ 486,000.
Property NOI Sale Price Overall Rate A $57,800 $566,600 0. B $49,200 $496,900 0. C $63,000 $630,000 0. D $56,000 $538,500 0. E $58,500 $600,000 0.
Note: Mortgage payments and depreciation are not included in the calculation of the property’s NOI.