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HomeMy WebLinkAboutPrinceBldgappraisalFile No. APPRAISAL OF LOCATED AT: CLIENT: AS OF: BY: 21060001 Real Estate Appraisers & Consultants SABEN APPRAISAL SERVICES MA Certified Residential Real Estate Appraiser #2800 James K. Saben 06/15/2021 West Yarmouth, MA, 02673 5 Prince Rd Paul Cruz West Yarmouth, MA 02673 52 Prince Road A SINGLE FAMILY DWELLING P.O. Box 877 South Yarmouth, MA 02664 508-394-0101 File No. File Number: In accordance with your request, I have appraised the real property at: The purpose of this appraisal is to develop an opinion of the defined value of the subject property, as improved. The property rights appraised are the fee simple interest in the site and improvements. In my opinion, the defined value of the property as of is: The attached report contains the description, analysis and supportive data for the conclusions, final opinion of value, descriptive photographs, assignment conditions and appropriate certifications. 21060001 Real Estate Appraisers & Consultants SABEN APPRAISAL SERVICES MA Certified Residential Real Estate Appraiser #2800 James K. Saben Five Hundred Eighty-Eight Thousand Dollars $588,000 June 15, 2021 West Yarmouth, MA 02673 52 Prince Road 21060001 West Yarmouth, MA, 02673 5 Prince Rd Paul Cruz 06/15/2021 P.O. Box 877 South Yarmouth, MA 02664 508-394-0101 Residential Appraisal Report File No. The purpose of this appraisal report is to provide the client with a credible opinion of the defined value of the subject property, given the intended use of the appraisal. Client Name/Intended User E-mail Client Address City State Zip Additional Intended User(s) Intended UsePURPOSE Property Address City State Zip Owner of Public Record County Legal Description Assessor's Parcel #Tax Year R.E. Taxes $ Neighborhood Name Map Reference Census Tract Property Rights Appraised Fee Simple Leasehold Other (describe)SUBJECTMy research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal. Prior Sale/Transfer:Date Price Source(s) Analysis of prior sale or transfer history of the subject property (and comparable sales, if applicable) Offerings, options and contracts as of the effective date of the appraisalSALES HISTORYNeighborhood Characteristics One-Unit Housing Trends One-Unit Housing Present Land Use % Location Urban Suburban Rural Property Values Increasing Stable Declining PRICE AGE One-Unit % Built-Up Over 75%25-75%Under 25%Demand/Supply Shortage In Balance Over Supply $(000)(yrs)2-4 Unit % Growth Rapid Stable Slow Marketing Time Under 3 mths 3-6 mths Over 6 mths Low Multi-Family % Neighborhood Boundaries High Commercial % Pred.Other % Neighborhood Description Market Conditions (including support for the above conclusions)NEIGHBORHOODDimensions Area Shape View Specific Zoning Classification Zoning Description Zoning Compliance Legal Legal Nonconforming (Grandfathered Use)No Zoning Illegal (describe) Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use?Yes No If No, describe. Utilities Public Other (describe)Public Other (describe)Off-site Improvements—Type Public Private Electricity Water Street Gas Sanitary Sewer Alley Site CommentsSITE GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materials INTERIOR materials Units One One w/Acc. unit Concrete Slab Crawl Space Foundation Walls Floors # of Stories Full Basement Partial Basement Exterior Walls Walls Type Det.Att.S-Det./End Unit Basement Area sq. ft.Roof Surface Trim/Finish Existing Proposed Under Const.Basement Finish %Gutters & Downspouts Bath Floor Design (Style)Outside Entry/Exit Sump Pump Window Type Bath Wainscot Year Built Storm Sash/Insulated Car Storage None Effective Age (Yrs)Screens Driveway # of Cars Attic None Heating FWA HW Radiant Amenities WoodStove(s) #Driveway Surface Drop Stair Stairs Other Fuel Fireplace(s) #Fence Garage # of Cars Floor Scuttle Cooling Central Air Conditioning Patio/Deck Porch Carport # of Cars Finished Heated Individual Other Pool Other Att.Det.Built-in Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe) Finished area above grade contains:Rooms Bedrooms Bath(s)Square Feet of Gross Living Area Above Grade Additional Features Comments on the ImprovementsIMPROVEMENTS Page 1 of 4 This form Copyright © 2005-2016 ACI, a First American Company. All Rights Reserved.(gPAR™) General Purpose Appraisal Report 3/2017GPARSUM_17 03272017 Produced using ACI software, 800.234.8727 www.aciweb.com 21060001 The intended use of this appraisal is to assist the client establishing a base in for renovations regarding the subject property. No other use is intended or authorized by the appraiser. The scope of this assignment is specific to the identified intended use. Town of Yarmouth Building Department 02673MAWest Yarmouth5 Prince Rd pcruz@ccstaff.netPaul Cruz X 0121.00SMSA12700West Yarmouth 8,659.00202129/ 88 Barnstable County Reg. Of Deeds Book/Page 33762/139 BarnstablePaul Cruz 02673MAWest Yarmouth52 Prince Road None Know The prior sales history of the subject involved the sale of the subject on 02/05/2021. Research of this sale revealed nothing other than what appears to be an arm's length transaction at a sales price consistent with competing properties at the time. The local MLS and public records were used as the sources for the above prior sales data. Given the intended use and scope of the assignment, comparable sales histories revealed no other sales within the past 12 months. Public Record1,300,00002/05/2021 X See Attached Addendum See Attached Addendum 5Vacant 5 90 60 100 20 500 2,000 350 North By Route 28, South by Lewis Bay, East by Standish Way and West by the Town of Barnstable X X X X X X See Attached Addendum None XAsphalt PrivateX X Oil X See Attached Addendum X X Residential 40,000 Sq. Ft. min lot sizeR40 WaterIrregular0.49See Deed Overall condition is acceptable and consistent with that typically found in a sixty one-year-old dwelling. The subject improvements appear to be properly constructed of materials and finish that are acceptable in this market and price range. No significant remodeling or renovation has taken place. Functional utility is acceptable, with adequately sized rooms, ample closet space and an efficient layout. This dwelling effectively fulfills the functional and aesthetic expectations of purchasers in this price range. Please read the important limiting conditions and scope of work comments on the page titled "Scope of Work, Assumptions and Limiting Conditions." Do not rely on this appraisal as a substitute for a home inspection. Built in cabinets In Dining room, Fireplace in livingroom, water views from every room in the home. 2,5012.158 XXX X 3X Sea Shell 2X Various/Avg Various/Avg Wood/Avg Various/Avg Various/Avg BothX 1X Yes/Avg Storm sash/Avg DblHung/Avg NONE Asphalt/Avg Clapbd/Avg Conc Block/Avg NoneX Oil X 0 100 X X 30 1960 Cape Cod X X 2 X Residential Appraisal Report File No. FEATURE SUBJECT Address Proximity to Subject Sale Price $ Sale Price/Gross Liv. Area $sq. ft. Data Source(s) Verification Source(s) VALUE ADJUSTMENTS DESCRIPTION Sale or Financing Concessions Date of Sale/Time Location Leasehold/Fee Simple Site View Design (Style) Quality of Construction Actual Age Condition Above Grade Total Bdrms.Baths Room Count Gross Living Area sq. ft. Basement & Finished Rooms Below Grade Functional Utility Heating/Cooling Energy Efficient Items Garage/Carport Porch/Patio/Deck Net Adjustment (Total) Adjusted Sale Price of Comparables COMPARABLE SALE NO. 1 $ $sq. ft. DESCRIPTION +(-) $ Adjustment Total Bdrms.Baths sq. ft. +-$ Net Adj.% Gross Adj.%$ COMPARABLE SALE NO. 2 $ $sq. ft. DESCRIPTION +(-) $ Adjustment Total Bdrms.Baths sq. ft. +-$ Net Adj.% Gross Adj.%$ COMPARABLE SALE NO. 3 $ $sq. ft. DESCRIPTION +(-) $ Adjustment Total Bdrms.Baths sq. ft. +-$ Net Adj.% Gross Adj.%$ Summary of Sales Comparison Approach Indicated Value by Sales Comparison Approach $SALES COMPARISON APPROACHCOST APPROACH TO VALUE Site Value Comments ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW Source of cost data Quality rating from cost service Effective date of cost data Comments on Cost Approach (gross living area calculations, depreciation, etc.) OPINION OF SITE VALUE........................................= $ Dwelling Sq. Ft. @ $............= $ Sq. Ft. @ $............= $ Garage/Carport Sq. Ft. @ $............= $ Total Estimate of Cost-New ............= $ Less Physical Functional External Depreciation = $ () Depreciated Cost of Improvements................................= $ "As-is" Value of Site Improvements................................= $ INDICATED VALUE BY COST APPROACH ......................= $COST APPROACHINCOME APPROACH TO VALUE Estimated Monthly Market Rent $X Gross Rent Multiplier = $Indicated Value by Income Approach Summary of Income Approach (including support for market rent and GRM)INCOMEMethods and techniques employed:Sales Comparison Approach Cost Approach Income Approach Other: Discussion of methods and techniques employed, including reason for excluding an approach to value: Reconciliation comments: Based on the scope of work, assumptions, limiting conditions and appraiser's certification, my (our) opinion of the defined value of the real property that is the subject of this report as of , which is the effective date of this appraisal, is: Single point $Range $to $Greater than Less than $ This appraisal is made "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 subject to the following: RECONCILIATIONPage 2 of 4 This form Copyright © 2005-2016 ACI, a First American Company. All Rights Reserved.(gPAR™) General Purpose Appraisal Report 3/2017GPARSUM_17 03272017 Produced using ACI software, 800.234.8727 www.aciweb.com 21060001 1 F/P Patio/Deck 3 Car Garage FWA None Unfinished Part./100 Sq.Ft. 2,501 2.158 61+/- Years Cape Cod Water 0.49 Fee Simple Suburban 0.00 West Yarmouth 1,363,100 25,000 588,090 392,060$392,060 75 980,150 75,60075.001,008 26,000Decks 3,20032.00Bsmt: 100 Sq.Ft. 875,350350.002,501 750,000 See Attached Addendum 06/15/2021Average Local Contractors and market costs. X X 588,000X 06/15/2021 See Attached Addendum See Attached Addendum X Saben Appraisal Services Residential Appraisal Report File No. Scope of Work, Assumptions and Limiting Conditions Scope of work is defined in the Uniform Standards of Professional Appraisal Practice as " the type and extent of research and analyses in an assignment." In short, scope of work is simply what the appraiser did and did not do during the course of the assignment. It includes, but is not limited to: the extent to which the property is identified and inspected, the type and extent of data researched, the type and extent of analyses applied to arrive at opinions or conclusions. The scope of this appraisal and ensuing discussion in this report are specific to the needs of the client, other identified intended users and to the intended use of the report. This report was prepared for the sole and exclusive use of the client and other identified intended users for the identified intended use and its use by any other parties is prohibited. The appraiser is not responsible for unauthorized use of the report. The appraiser's certification appearing in this appraisal report is subject to the following conditions and to such other specific conditions as are set forth by the appraiser in the report. All extraordinary assumptions and hypothetical conditions are stated in the report and might have affected the assignment results. 1. The appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or title thereto, nor does the appraiser render any opinion as to the title, which is assumed to be good and marketable. The property is appraised as though under responsible ownership. 2. Any sketch in this report may show approximate dimensions and is included only to assist the reader in visualizing the property. The appraiser has made no survey of the property. 3. The appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements have been previously made thereto. 4. Neither all, nor any part of the content of this report, copy or other media thereof (including conclusions as to the property value, the identity of the appraiser, professional designations, or the firm with which the appraiser is connected), shall be used for any purposes by anyone but the client and other intended users as identified in this report, nor shall it be conveyed by anyone to the public through advertising, public relations, news, sales, or other media, without the written consent of the appraiser. 5. The appraiser will not disclose the contents of this appraisal report unless required by applicable law or as specified in the Uniform Standards of Professional Appraisal Practice. 6. Information, estimates, and opinions furnished to the appraiser, and contained in the report, were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for accuracy of such items furnished to the appraiser is assumed by the appraiser. 7. The appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil, or structures, which would render it more or less valuable. The appraiser assumes no responsibility for such conditions, or for engineering or testing, which might be required to discover such factors. This appraisal is not an environmental assessment of the property and should not be considered as such. 8. The appraiser specializes in the valuation of real property and is not a home inspector, building contractor, structural engineer, or similar "expert", unless otherwise noted. The appraiser did not conduct the intensive type of field observations of the kind intended to seek and discover property defects. The viewing of the property and any improvements is for purposes of developing an opinion of the defined value of the property, given the intended use of this assignment. Statements regarding condition are based on surface observations only. The appraiser claims no special expertise regarding issues including, but not limited to: foundation settlement, basement moisture problems, wood destroying (or other) insects, pest infestation, radon gas, lead based paint, mold or environmental issues. Unless otherwise indicated, mechanical systems were not activated or tested. This appraisal report should not be used to disclose the condition of the property as it relates to the presence/absence of defects. The client is invited and encouraged to employ qualified experts to inspect and address areas of concern. If negative conditions are discovered, the opinion of value may be affected. Unless otherwise noted, the appraiser assumes the components that constitute the subject property improvement(s) are fundamentally sound and in working order. Any viewing of the property by the appraiser was limited to readily observable areas. Unless otherwise noted, attics and crawl space areas were not accessed. The appraiser did not move furniture, floor coverings or other items that may restrict the viewing of the property. 9. Appraisals involving hypothetical conditions related to completion of new construction, repairs or alteration are based on the assumption that such completion, alteration or repairs will be competently performed. 10. Unless the intended use of this appraisal specifically includes issues of property insurance coverage, this appraisal should not be used for such purposes. Reproduction or Replacement cost figures used in the cost approach are for valuation purposes only, given the intended use of the assignment. The Definition of Value used in this assignment is unlikely to be consistent with the definition of Insurable Value for property insurance coverage/use. 11. The ACI General Purpose Appraisal Report (GPAR™) is not intended for use in transactions that require a Fannie Mae 1004/Freddie Mac 70 form, also known as the Uniform Residential Appraisal Report (URAR). Additional Comments Related To Scope Of Work, Assumptions and Limiting Conditions Page 3 of 4 This form Copyright © 2005-2016 ACI, a First American Company. All Rights Reserved.(gPAR™) General Purpose Appraisal Report 3/2017GPARSUM_17 03272017 Produced using ACI software, 800.234.8727 www.aciweb.com 21060001 Residential Appraisal Report File No. Appraiser's Certification The appraiser(s) certifies that, to the best of the appraiser's knowledge and belief: 1. The statements of fact contained in this report are true and correct. 2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are the appraiser's personal, impartial, and unbiased professional analyses, opinions, and conclusions. 3. Unless otherwise stated, the appraiser has no present or prospective interest in the property that is the subject of this report and has no personal interest with respect to the parties involved. 4. The appraiser has no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 5. The appraiser's engagement in this assignment was not contingent upon developing or reporting predetermined results. 6. The appraiser's compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. 7. The appraiser's analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. 8. Unless otherwise noted, the appraiser has made a personal inspection of the property that is the subject of this report. 9. Unless noted below, no one provided significant real property appraisal assistance to the appraiser signing this certification. Significant real property appraisal assistance provided by: Additional Certifications: Definition of Value:Market Value Other Value: Source of Definition: ADDRESS OF THE PROPERTY APPRAISED: EFFECTIVE DATE OF THE APPRAISAL: APPRAISED VALUE OF THE SUBJECT PROPERTY $ APPRAISER Signature: Name: Company Name: Company Address: Telephone Number: Email Address: State Certification # or License # or Other (describe):State #: State: Expiration Date of Certification or License: Date of Signature and Report: Date of Property Viewing: Degree of property viewing: Interior and Exterior Exterior Only Did not personally view SUPERVISORY APPRAISER Signature: Name: Company Name: Company Address: Telephone Number: Email Address: State Certification # or License # State: Expiration Date of Certification or License: Date of Signature: Date of Property Viewing: Degree of property viewing: Interior and Exterior Exterior Only Did not personally view Page 4 of 4 This form Copyright © 2005-2016 ACI, a First American Company. All Rights Reserved.(gPAR™) General Purpose Appraisal Report 3/2017GPARSUM_17 03272017 Produced using ACI software, 800.234.8727 www.aciweb.com 21060001 X 06/04/2021 06/15/2021 03/15/2022 2800 sabenappraisal@gmail.com 508-394-0101 South Yarmouth, MA 02664 P.O.Box 877 Saben Appraisal Services James K. Saben 588,000 06/15/2021 West Yarmouth, MA 02673 52 Prince Road Replacement cost is the price that an entity would pay to replace an existing asset at current market prices with a similar asset. "The Appraisal of Real Estate" Twelfth Edition, Appraisal Institute, Chicago, IL Replacement CostX I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. EXPOSURE TIME... This appraiser has developed an opinion of reasonable exposure time for the subject property and has estimated that length of time to be 3-6 months within the subject's market segment. As defined by USPAP, exposure time is the estimated length of time that the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal. Saben Appraisal Services ADDENDUM Client:Paul Cruz File No.:21060001 Property Address:52 Prince Road Case No.: City:West Yarmouth State:MA Zip:02673 Addendum Page 1 of 2 Scope of Work, Additional: The scope of the appraisal is to value the subject property under its highest and best use in order to determine a replacemtn cost new for the subject property. The subject property is identified in the "Subject" section on page 1 of this report.. At the request of the client, the appraiser has performed an interior inspection and reported the findings. Intended User/Use: The intended user of this appraisal report is the lender/client. The Intended Use is to evaluate the property that is the subject of this replacement cost new for home renovations, subject to the stated scope of work, purpose of the appraisal, reporting requirements of this appraisal report form, and definition of market value. No additional Intended Users are identified by the appraiser. The data utilized in this report has been reported and confirmed to the most reasonable extent possible, unless otherwise expressly noted. The technical evaluations of compliance of any code of the Town, State, and Federal governments are beyond the scope of this report. Personal Property: No personal property items have been included in the final opinion of value for the subject property. Review of Deed The deed for the subject property was used as an information source. The review of the deed is not required to complete the scope of work for this appraisal and the opinion of market value presented herein assumes (appraiser making extraordinary assumption - that which is not know to be true or false but is assumed true for this assignment; if found false it could change the results of the report) that the deed for the subject property is free and clear of any and all encumbrances and restrictions and contains no provisions that could negatively impact the marketability of the subject property or the opinion of value presented herein. Inspection –The interior inspection of the subject property involved my personal physical inspection of the readily accessible areas of each above grade room as well as any attic and / or basement area accessed by a full staircase. The appraiser DID NOT inspect any area believed to be dangerous or hazardous, and did not inspect any foundation crawl space or any attic accessible only by a scuttle or drop / pull down stair. The appraiser’s opinion of market value for the subject property presented in this report assumes that any area of the dwelling not inspected or accessed by the appraiser as described above is structurally and environmentally sound, and any inspection of such area would not disclose conditions which would alter the appraiser’s opinion of market value. The inspection accomplished for this appraisal assignment as described above was performed strictly for valuation purposes. Only readily observable conditions that may potentially impact the appraiser’s opinion of value / marketability of the subject property have been addressed in this report. It should be noted that the appraiser is not a qualified professional home inspector / construction expert / environmental expert and assumes no responsibility for potentially detrimental structural or environmental conditions which may exist at the subject property. Should a user of this appraisal report be aware of such potentially detrimental conditions, then a qualified expert in the area of concern should be contracted by theuser to research such condition and render an opinion to the user. LIMITATIONS OF APPRAISER LIABILITY, LIABILITY TO POTENTIAL BUYERS, SELLERS, LOAN APPLICANTS AND OTHER THIRD PARTIES This report (including any data, estimate of market value, certification and statement) is being performed exclusively for the benefit of, and at the request of, Saben Appraisal Services client. Said estimate is rendered exclusively for the protection of and use of the client. This estimate shall not be utilized or relied upon by any buyer, seller, loan applicant or any other third party not specifically permitted by law, and no contract shall be deemed to exist between said individuals and the appraiser. COMMENTS REGARDING DIGITAL SIGNATURES and DIGITAL PHOTOGRAPHS This appraisal report utilizes a digital signature for purposes of electronic transmission of the appraisal report to the client. Each digital signature on this report is electronically encrypted and password protected. Application of each signature to this report was applied / approved by either the appraiser or the supervisory appraiser. If this report has actual hand written signatures, this comment does not apply. Neighborhood Description The subject neighborhood is mostly comprised of single family dwellings that are, for the most part, well maintained with effective ages somewhat less than actual ages. Most homes are of average quality materials and display a high level of conformity and compatibility. Major employment centers are within a reasonable commute and easily accessible. The primary driver of this neighborhood's popularity is convenience to Lewis bay. Retail stores, supermarkets and town facilitiesare all within a few miles. No apparent adverse factors which would effect marketability were noted Neighborhood Market Conditions A broad variety of mortgage financing is available at rates purchasers consider attractive. Seller concessions are not common. Most neighborhood homes sell at or above list price, provided their design, appeal and condition are consistent with market expectations. There is limited supply of single family homes with strong demand resulting in increased property values. Given the market data analyzed by the appraiser, there are no fiscal or economic trends expected to occur that would significantly impact the market currently experienced in this neighborhood. Highest and Best Use The reasonably probable use of property that results in the highest value. The four criteria that the highest and best use must meet are legally permissible, physically possible, financially feasible an maximally productive. (the Dictionary of Real Estate Appraisal. 6th Edition Appraisal Institute, Chicago, IL., 2015) Single Family dwellings are legally permissible under current zoning The design and functional layout of the improvements is consistent with single family dwellings within the neighborhood, Based on current market conditions, in my opinion, the the existing structure as a single family residence is its financially feasible and maximally productive use. The highest and best ADDENDUM Client:Paul Cruz File No.:21060001 Property Address:52 Prince Road Case No.: City:West Yarmouth State:MA Zip:02673 Addendum Page 2 of 2 use, as vacant would be to construct a single family dwelling. Site Comments This is an above road grade site that is located at the point of a penisula with water on 3 sides. It provides a suitable setting for the improvements and is consistent with market expectations in this price range. Landscaping consists of foundation plantings, shrubbery and mature trees. While no readily apparent adverse site conditions or external factors were noted, many site-related issues are beyond the scope of this assignment. Statements regarding zoning compliance are intended only in the most general sense. Zoning and building ordinances vary significantly from one municipality to another and can be extremely detailed. The scope of this assignment does not include a comparison of every potentially significant characteristic of the subject property's site and improvements relative to zoning and building ordinances. Unless otherwise noted, standard utility and right-of-way easements are insignificant to value. However, a current locational or boundary survey, which was unavailable to the appraiser, may reveal encroachments, easements, zoning violations or other matters of interest that could warrant modification of the appraised value. Cost Approach Comments Replacement cost figures used in the Cost Approach are for valuation purposes only. No one, client or third party, should rely on these figures for the purposes of determining insurance coverage. The appraiser assumes no liability for and does not guarantee that any insurable value estimated inferred from this report will result in the subject property being fully insured for any loss that may be sustained. Use of this data, in whole or in part, for other purposes is not intended by the appraiser. Reasons for non-development of a value approach The Comparable Sales Approach and income approach are not applicable. The development of the cost approach has been attempted by the appraiser as an analysis to support the opinion of the replacement cost new of the subject. The cost approach may not be a reliable indication of replacement or reproduction cost for any date other that the effective date of this appraisal due to changing cost of labor and materials and due to changing building codes and government regulations and requirements. Final Reconciliation In estimating the replacement cost new of the fee simple interest only the Cost Approach has been prepared. This analysis provides a meaningful estimate, since it provides an indication of current construction cost within the market. SUBJECT PROPERTY PHOTO ADDENDUM Client:File No.: Property Address:Case No.: City:State:Zip: FRONT VIEW OF SUBJECT PROPERTY Appraised Date: Appraised Value: $ REAR VIEW OF SUBJECT PROPERTY STREET SCENE 02673MAWest Yarmouth 52 Prince Road 21060001Paul Cruz 588,000 June 15, 2021 File No. -------------- -------------- ********* INVOICE ********* File Number: Order Date : $ $ Invoice Total $ Deposit ($) Deposit ($) Amount Due $ Please Make Check Payable To: 21060001 Real Estate Appraisers & Consultants SABEN APPRAISAL SERVICES P.O. Box 877 South Yarmouth, MA 02664 508-394-0101 Thank You South Yarmouth, MA 02664 P.O. Box 877 SABEN APPRAISAL SERVICES 0.00 350.00 350.00 350.00 West Yarmouth, MA 02673 52 Prince Road 06/15/2021 West Yarmouth, MA 02673 5 Prince Rd Paul Cruz 06/15/202121060001