Armando Appraisal is attempting to determine the current market value of a residential property assuming fee simple ownership. If the subject property was sold today, equipment valued at $31,000 would be included with the property. The property includes a house, which is 3,500 square feet, and a gazebo. A similar gazebo would cost $45,000 to construct and the replacement cost for the house would be $120 per square foot. The propertys land is valued at $237,000. Physical depreciation is estimated to be 6.0 percent of total replacement cost, functional obsolescence is estimated to be 3.5 percent of total replacement cost, and external obsolescence is estimated to be $17,000. Based on this information, what is Armando Appraisals indicated opinion of value for the subject property based on the cost approach? Round your answer to the nearest dollar and write it in the box.