Question
Hello, I have some qustion and I need your help t answer them and expline them to me the frist two questions are related to
Hello, I have some qustion and I need your help t answer them and expline them to me the frist two questions are related to each other .please help me to solve these 3 questions.
1- An appraiser is working on the cost approach for tom's house. the house is a 1,200-square - feet rambler that was built in1979. the cost manual suggests that a home of this quality should have a replacement cost of $65.75 per square foot. the manual also suggests a depreciation of 19% of construction costs. what is thedepreciated cost of the house?
2- in conducting the sales compatrison approach portion of the appraisal of tom's house from question 1above, a comparable was found in the same neighborhood that sold for $145,000.This comparable has 1,450 square feet of improved area, or about 250 square feet more than the subject property. if the appraiser concludes that the market is paying an additional $55 for each additional square foot of space over 1200 square feet what is the adjusted sale price of the comparable?
3- you have been called on the estimate the value of a single- family home using the gross rent multiplier (GRM) from of the income approach the subject property you are appraising is a 1,300-square- foot home with three bedroom, a living room, a family room, two bathrooms, and two - car garage. You feel if it were put on the rental market, it would draw 14,000 per month in rent. A comparable that was recently sold for $162,500 was renting for $ 1500 per month when it was sold. Using the GRM what is the indicated value of the subject property?
Thank you.
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