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. . Lake State Realty Services, Inc. 2140 Otter Lake Drive White Bear Lake, MN 55110 651-653-0788 Fax 651-653-1381 E-Maillakestate@goldengate.net November 2, 2000 Mr. Jim March, City Administrator The City of Centerville 1880 Main Street Centerville, Mn 55038 RE: Estimated market value ranges for budgetary purposes of: 1688 Sorel St.; 1680 Sorel St., & 7060 Goiffon St., Centerville Dear Mr. March: Pursuant to your request, we have completed an analysis an estimated fair market value range for the above referenced properties. We have obtained physical data related to the properties from Moore Data, which indicates past listing history, as well as some basic county data. Please note that this does not serve as an appraisal for each individual property, rather mass appraisal techniques similar to that which Assessor's use, were employed. Therefore, it is possible that any of these properties may have a slightly higher or slightly lower value than stated, once a physical inspection and re-analysis would occur. These estimates have been prepared primarily for budgetary purposes only. Please note, that the below values do not include relocation expenses, as compensable under law. Below we will indicate the property, the data obtained, and an estimated value range. Pill #: 23-31-22-23-0011 Legal: Lots 8 & 13, Block 7, Village ofCenterville Address: 1688 Sorel Street Owner-Occupant: Judy Olson Estimated Value Range: $85,000 to $95,000 This property is a rambler style. According to county data, this property has 776 square feet and was constructed in 1949. There is no basement other than a crawl space. The house is assumed to be in good condition. The assessed market value is $56,000. This property was last purchased in 1981, for an unspecified amount. There was limited market data for a house of this vintage with only a crawl basement, and small amount of square feet. From the data, the subject would likely fall into the $85,000 to $95,000 price range, and possibly, even less. The upper limit of value was established by the sale of two residences at 1982 and 1983 Cardinal Drive in Centerville, which were constructed in 1986, had 1,022 to 1,316 s.f., and a crawl basement. These sold from $102,900 to $105,900 in early 2000. Another similar property at 1966 Robin Lane in Centerville, which sold for $99,700 in 7/00, also supports the upper limit of the value range. This property was constructed in 1985, has 1,116 s.f., ~ ..... ..... ..... ..... ~ ...A ... ...... .. ~ ~ ..... ....... ...... .&.. ...... ...olo. ..... ..... ......~..... ... ...... ..... ....... ....... ....