Use the following information to completely fill-in the Cost Approach section of the URAR

Cost Approach

For your cost approach, use the improvement descriptions and the following costs to fill out the Cost Approach section on page 3 of the URAR.

Replacement Cost Information (per Marshall & Swift

Residential Cost Handbook as of March 2022)

For an Average Quality 2-story dwelling:

Gross Living Area (sq.ft.) Average Quality

1500

$110.51

1600

109.48

1700

108.57

1800

107.69

1900

106.83

2000

105.92

2100

105.02

For Average Quality Attached Garage:

Area of Garage (sq.ft.) Average Quality

200

$39.67

400

36.90

600

33.44

800

30.87

1000

27.59

Income Approach

Although there are some rentals in the area, this neighborhood is predominantly owner-occupied. As a home's income producing potential is not the typical motivation of buyers and sellers in this market area, the income approach is not considered to be a necessary approach to providing a reasonable estimate of value for the subject property.

Project Information for P.U.D.S

All of the sales occurred within the same subdivision as the subject. Since all the lots have now been sold to individual parties, the developer is no longer associated with the project.

The homeowner's association has been in place since early 2014. please fill it out.

COST APPROACH TO VALUE (not required by Fannie Mae) Provide adequate information for the lender/client to replicate the below cost figures and calculations. Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)