To illustrate the application of cost approach in property analysis, consider an old and historical residential property example. This reproduction cost is estimated with the unit comparison (per square foot) method. The unit method is also used to calculate the depreciation. Table of cost approach: historical residential property example. Percent depreciation of Depreciation Value (RM) Market Value (RM) Property component Reproduction Depreciation Building 24 units Building: 27,000 sq ft 594,000 @ 22 per sq ft Site improvements: 30 415,800 415,800 Utilities Paving Walkways Landscaping Outside lighting 16,000 12,000 2,000 3,000 11,000 5 20 15 0 15 5700 19,600 1,700 3,000 850 20,850 75,000 Land Value: 4 acres @ 18,750 per acre Indicated value from Cost approach Total Estimated value (rounded) 511,650 512,000 Illustrate the application of the cost approach, which consider an old and historic residential as mentioned above. To illustrate the application of cost approach in property analysis, consider an old and historical residential property example. This reproduction cost is estimated with the unit comparison (per square foot) method. The unit method is also used to calculate the depreciation. Table of cost approach: historical residential property example. Percent depreciation of Depreciation Value (RM) Market Value (RM) Property component Reproduction Depreciation Building 24 units Building: 27,000 sq ft 594,000 @ 22 per sq ft Site improvements: 30 415,800 415,800 Utilities Paving Walkways Landscaping Outside lighting 16,000 12,000 2,000 3,000 11,000 5 20 15 0 15 5700 19,600 1,700 3,000 850 20,850 75,000 Land Value: 4 acres @ 18,750 per acre Indicated value from Cost approach Total Estimated value (rounded) 511,650 512,000 Illustrate the application of the cost approach, which consider an old and historic residential as mentioned above