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Using the given information to estimate the property value through Cost Approach Cost Approach Reproduction Costs...

Question

Using the given information to estimate the property value through Cost Approach Cost Approach Reproduction Costs...

Using the given information to estimate the property value through Cost Approach

Cost Approach

Reproduction Costs

Assumptions

House

• Living area:2960 sf

Garage

• Living area, estimated cost of reproduction: $62.00 / sf

Appliances

• Garage, estimated cost of reproduction: $8,800

Total Reproduction

• Appliances, estimated cost of reproduction: $2,400

Depreciation

• Physical depreciation: 5% of total improvement costs

Depreciated Cost of Building

• Functional obsolescence: None

Site Value

• External obsolescence: None

Misc Site Improvements

• Site value, estimated: $40,000

Total Value

• Landscaping and other miscellaneous site improvements,

current value: $4,000.

Answers

Reproduction Costs
House       1,83,520 =2960*62
Garage           8,800
Appliances           2,400
Total Reproduction       1,94,720 =183520+8800+2400
Depreciation           9,736 =5% * 194720
Depreciated Cost of Building       1,84,984 =194720 - 9736
Site Value          40,000
Misc Site Improvements           4,000
Total Value       2,28,984 =184984+40000+4000


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