SOMEONE KIND PLEASE HELP: CASE STUDY:

PLEASE ANSWER TWO MULTIPLE CHOICE QUESTIONS FROM CASE STUDY

udy You are attempting to determine the value of a property at 456 Baltimore Drive using the cost approach. The information provided immediately below will be needed to answer two specific questions relating to the calculations used in this approach. COMPARABLE SITE SALES Baltimore Drive You have obtained 3 comparable sales of sites very similar to the subject property at 4 Sale #1: This vacant lot sold eight months ago for $140,000. t is located one block from the subject property and is physically very similar to the subject. Sale #2: This vacant lot sold one for $142,000. It is located two blocks from the subject property month ago and is physically very similar to the subject Sale #3: is vacant lot sold three months ago for $143,000. located 3 blocks from the subject property It is and is physically very similar to the subject. Site values have increased steadily and evenly a total of 6% over the last year. REPLACEMENT COST AND DEPRECIATION INFORMATION The bungalow at measures 30 feet by 45 feet. The cost to construct this home today is 456 Baltimore Drive square foot. There is a detached garage which measures 20 feet by 20 feet and costs $36.35 per square foot to build The actual age of the house is 15 years, the effective age is 12 years and the remaining economic life is 40 years. The garage has a remaining economic life of 20 years, is 15 years old and, due to a deteriorating roof, has an effective age of 18 years 54 Based on the information provided under LE SITE SALES, what is the adjusted sale price for each of the comparables (answers may be rounded) a The adjusted sale prices are as follows: Sale #1: $148,400; Sale #2: $150,520; and Sale #3: $151,580 b The adjusted sale prices are as follows: Sale Sale #2: $14 and #3: $145,145 c The #1: $145,600; Sale #2: $141,29o; and Sale #3: $140,855 The adjusted sale prices are as follows: Sale #1: $134,400; Sale #2: $143.420; and sale #3: $147,290 adjusted sale prices are as follows: Sale #1: $151,200