You are asked to evaluate a house (subject) in Nuzha with the following descriptions and data.

Subject: Area 1000 sqm , One-Street, 3 floors and a basement, newly built, 6 rented apartments, each apartments monthly gross rent is 1100 KWD. Land value 780,000 KWD. Cost of Construction 290,000 KWD. Super Deluxe finishing.

Comparable: Nuzha, Area 1000sqm, Corner location (difference in value with corner location is 95,000 KWD), 3 floors and a basement, newly built, 6 rented apartments, each apartments monthly gross rent is 1200 KWD. Deluxe finishing (difference in value with Deluxe finishing is 50,000KWD). Comparable sold for 1,100,000 KWD.

a) What is the fair value based on Cost approach? (Land + Construction cost) (1 point)

b) What is the fair value based on the income approach? ( 2points)

c) What is the fair value based on the comparable approach? (2points)

d) If the comparable approach is 30% weight, income approach is 50% and cost approach is 20% weight, what is your final fair value on the property? (1 point)