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<br />DAHLEN & DWYER, INC. <br /> <br />ANALYSIS OF COMPARABLE SALES <br /> <br />Your appraiser has reviewed several sales and offerings of properties located <br />in the immediate and general areas. These sales are considered to be the best data <br />available for the subject. It should be noted that the subject property has only a part <br />basement and there is no bath located above grade. The electrical also needs <br />updating. It was somewhat difficult to find sales of properties similar to the subject <br />in terms of functional utility and lot siz.e. Sales #2 and #3 are located on smaller lots <br />with Sale #3 being only slightly smaller in size. Sales #1 and #2 are also located on <br />fast traffic or through streets. All sales were superior in functional utility having at <br />least one bath above grade. <br /> <br />Also analyzed was the competitive offering of a rambler located at 992 Burke <br />Street W, or approximately 8 blocks to the NE of the subject property. This home is <br />currently ont the market for $61,500 and is a 600 SF rambler with part basement <br />constructed in 1935 and having a 2-car detached garage. This is a one bedroom <br />home located on an 87' x 219' site. The home needs complete renovation and, <br />similar to the subject, the majority of the value is in the large lot and 2-car garage. <br /> <br />Adjustments have been made to these sales to reflect the significant differences <br />between the comparable sale and the subject property. The adjustment grid can be <br />found on the preceding page. Based upon my analysis of this market data, it is my <br />opinion that the Direct Sales Comparison Approach to value indicates a value to the <br />property of $63,000. <br /> <br />27 <br />