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Appraisal Group, Inc. <br />Borrower SOUTH BEND $, OF PUB. WIC LAND APPRAISAL REPORT File No. 1234567 <br />D <br />Property Address 210 BROADWAY Census Tract Map Reference 8 13 C <br />City SOUTH BEND CoumyST , JOSEPH <br />Legal Description L76 HAjJEYS ADDITION state IN. zip 46601 <br />OT <br />Sale Price $ N_LA Date of Sale N/A <br />Loan Term N A yrs. Property flights Appraised <br />Actual Real Estate Taxes $ N/A a Feo ❑ Leasohofd ❑ Do Minrmis PUD <br />lyr) Loan charges to be paid by seller S N/A Other sales concessions N/A <br />Lender/Client BOARD OF PUBLIC WORKS Address 13TH FLOOR CO. --CITX BLDG <br />Occupant VACANT LAND Appraiser CARPENTER Instructions to Appraiser MARKET VALUE <br />Location <br />1XIU <br />Built-up <br />Urban <br />❑ Over 75% <br />Suburban <br />fX-1 25%10 75% <br />Rural <br />❑ Under 25% <br />Growth Rate ❑ <br />Fully Dev, ❑ Rapid <br />❑ Steady <br />a Slow <br />Property Values <br />❑ Increasing <br />❑ Stable <br />Declining <br />Demand/Supply <br />❑ Shortage <br />❑ In Balance <br />X❑ Oversupply <br />PP Y <br />` Marketing Time <br />❑ Under 3 Mos. <br />❑ 4-6 Mos. <br />Over 6 Mos. <br />Present Land Use 10 <br />%1 Fly 10 % 2-4 Family <br />� % Apts. _ % Condo % Commercial <br />- — <br />% Industrial 80 % Vacant <br />% <br />Change in Presonr Land Use <br />QNot.1-11 <br />_ <br />❑ Likely (•I <br />Taking Placef-) <br />(•) From VACANT <br />TOPUBLIC USE <br />Predominanr Occupancy <br />❑ Owner <br />® Tenant <br />Single Family Price Range <br />9 to S <br />% Vacant <br />Predominant Value S <br />Single Ferri Age <br />yrs. to <br />yrs. Predominant Age <br />yrs <br />Good <br />Avg. <br />Fair <br />Poor <br />Employment Stability <br />❑ <br />0 <br />❑ <br />❑ <br />Convenience to Employment <br />❑ <br />❑ <br />❑ <br />Convenience to Shopping <br />❑ <br />❑ <br />❑ <br />Convenience to Schools <br />❑ <br />FX1 <br />❑ <br />❑ <br />Adequacy of Public Transportation <br />❑ <br />❑ <br />❑ <br />Recreational Facilities <br />❑ <br />❑ <br />Adequacy of Utilities <br />❑ <br />❑ <br />Property Compatibility <br />Protection from Detrimental Conditions <br />Police and Fire Protection <br />❑ <br />50 <br />❑ <br />❑ <br />General Appearance of Properties <br />® <br />❑ <br />❑ <br />Appeal to Market <br />❑ <br />❑ <br />❑ <br />Comments including those factors, favorabfe or unfavorable, affecting marketability (e.g. public parks, schools, view, noise): SUBJECT NEIGHBORHOOD IS LOCATED <br />NORTH OF A PREVIOUS MODEL CITIES PROJECT- WHTCH T)FMnT TQU1 to MA KTV <br />---- -- �+-.+✓�.c�.L runl,,L lr YLCVti#tAM tIAS INTTIATED NST. <br />Dimensions 0 X 153 APT CO <br />6,120. Sq. Ft. or AAM <br />Zoning classiticationB- BUSINESS Corner Lot <br />Present improvements do Eldonot conform to zoning regulations <br />Highest and best use ❑Present use Q other (specify) PUBLIC SERVICE <br />m <br />Public Other (Describe) <br />Electricity <br />Gas <br />R1 <br />Water <br />O <br />San. Sewer <br />W <br />❑ Underground Elec. & Tel. <br />Comments (favorable <br />or unfavorable ' I <br />Topography FLAT <br />Size FAIR <br />Shape IRREGULAR MAN <br />AN <br />Drainage AVERAGE <br />Is the Property located In a HUD Identified Special Flood Hazard Area? No ❑ Yes <br />e udmg any apparent adverse easements, encroachments or other adverse Conditions): THERE APPEARS TO BE NO UNFAVORABLE <br />OR ADVERSE EASEMENTS WHICH AFFECT SUBJECT PROPVPTV <br />The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar adjustment <br />reflecting market reaction to those items of significant variation between the subject and comparable properties If a significant item in the comparable property Is superior 10 or more favorable <br />than the subject property, a minus f-) adjustment Is made thus reducing rho Indicated value or subject: if a significant item in the Comparable is inledor ro or less tavorablu than the su0'lact <br />Property, a plus (+) adjustment is made thus increasing the indicated value or the subiou. <br />ITEM <br />Address <br />Date of Sale and <br />Time Adjustment <br />Sales or Financing <br />Concessions <br />Indicated Value <br />of Subject <br />Comments on Market Data: <br />SUBJECT PROPERTY I COMPARABLE NO <br />210 BROADWAY 1606 WENGER <br />A <br />DESCRIPTION <br />40 <br />WA' <br />R <br />ION + <br />nei,�r <br />COMPARABLE NO. 2 <br />SE CORNER HILL ST. <br />DESCRIPT <br />—V— <br />RAGE -250 <br />X 162 _snn <br />COMPARABLE NO. 3 <br />KALEY ST BTWN LWW <br />& HUMBOLT SO. BEND <br />BETTER NEIGH'HOOD <br />s1 000 <br />s .19 <br />MLS DATA <br />DESCRIPTION i <br />Ad us <br />1985 T <br />AVERAGE - <br />40 X 132 <br />WATER SEWER <br />A_PPQ <br />9�1[III�■.11'Ji��i <br />--L, rJV I_ L. IPlus IX Minus Is - <br />650 e1�s� zo.Q 's 750 500 <br />NO 1 IS MORE COMPARABLE TO SUBJECT. <br />Comments and Conditions of Appraisal: SUBJECT IS AVAIIABLE FOR DEVELOPMENT AND HAS GOOD FRONT TO DEPTH RATIO. <br />Fjna)ReConclitatfon; THE SUBJECT MATTER OF THIS APPRAISAL RELATES MORE DIRECTLY TO NO 1 COMP BECAUSE IT IS <br />,LASER IN LOCATION THAN THE OTHR.RS_ <br />I ESTIMATE THE MARKET VALUE, AS DEFINED, OF SUB CT PROPERTY AS OF APRIL I 1 <br />19 95 to be s 650.00 <br />Appraiser(s) Review Appraiser (if applicable) <br />DOUGLAS L. VC ENT <br />X❑ Did ❑ Did Not Physically Inspect Property <br />5187-1 <br />MCS, Richardson, TX 75081 (214) 699-7783 <br />MCS Pnrm 1 an <br />