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Comp Comp Comp Elements of Comparison Subject Sale 1 Sale 2 Sale 3 Sale price of comparable $1,600,000 $1,750,000 $1,500,000 Transaction characteristics Property rights conveyed

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Comp Comp Comp Elements of Comparison Subject Sale 1 Sale 2 Sale 3 Sale price of comparable $1,600,000 $1,750,000 $1,500,000 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 SO $85,000 $95,000 Market conditions (months from sale Today 6 12 4 Property characteristics Location Beach Block Inland Block Beach Block Inland Block Physical characteristics: Site/lot size (square feet) 6,700 6,800 6,950 6,400 Construction quality Typical Typical Typical Typical Condition Average Average Average Average Effective age (years) 5.5 7.0 4.5 4.5 Living area (square feet) 3,580 3,510 3,760 3,150 Number of baths 3.5 3.0 3.0 2.5 Garage Spaces (# of cars) 2 2 1 1 Porch, patio, deck Cov. porch/Deck Cov. Porch Cov. Porch Cov. Porch Fence, pool, etc. Pool None Pool None Economics characteristics N.A. N.A. N.A. N.A. Use Single-family Same Same Same Non-realty components None None None None

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