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LAND APPRAISAL REPORT <br />Mao R <br />18-7047-1842.01 <br />Property Address 1713 Marietta <br />City' South Bend County St. t <br />Legal Description Lots 72 & &3 33 Ft b-EK Pt Ea H Stude <br />Sale Price S Date of Sale Loan Term <br />Actual Real Estate Taxes $ (yr) Loan charges to be paid by seller: <br />Lender/Client Ci ty of South Bend IN/Board of Public Works A <br />Occupant Vacant Appraiser Carpenter <br />rs Property Right <br />Other sales <br />Instructions to Appraiser <br />raised FXI Fee r] Leasehold DeMinimis PUD <br />e <br />Location ® Urban ❑ Suburban- ❑ Rural <br />co°d <br />❑ <br />A,, <br />(0 <br />r,,, <br />❑ <br />P° <br />❑ <br />Built Up ® Over 75% ❑ 25% to 75% ❑ Under 25% <br />Employment Stability <br />Employment <br />❑ <br />® <br />❑ <br />❑ <br />Growth Rate ® Fully Dev. ❑ Rapid ❑ Steady ❑ Slow <br />Convenience to <br />❑ <br />® <br />Property Values ❑ Increasing ❑ Stable Declining <br />Convenience to Shopping <br />Schools <br />❑ <br />❑❑ <br />Demand/Supply ❑ Shortage (] In Balance ❑ Over Supply <br />Convenience to <br />Public Transportation <br />❑ <br />© <br />❑ <br />❑ <br />Markestingting Time me ❑Under 3 Mos. ❑ 4-6 Mos. Over 6 Mos. <br />Adequac of <br />y <br />® <br />❑ <br />❑ <br />• Present Land Use 100% 1 Family _% 2-4 Family,% Apts, _% Condo —% Commercial <br />Recreational Facilities <br />❑ <br />❑ <br />® <br />❑ <br />❑ <br />+ <br />• _% Industrial_% Vacant �% <br />Use Not Likely ❑ Likely ('1 ❑ Taking Place ('I <br />Adequacy of Utilities <br />Property Compatibility <br />❑ <br />❑ <br />❑ <br />91 <br />Change in Present Land <br />Protect ion from Detrimental Conditions <br />® <br />❑ <br />Cl <br />• 1'1 From To <br />Frodon.�nr,n. OcCYPOIICY � o,,,, p Tin % vncnnt <br />S,ngrc rnrriny Price Range s 9,000 to S 36,000 r Predominant Value $ 30,000 <br />Pollcu and Fire Protection <br />General Appearance of Properties <br />�Appeal <br />0 <br />El❑ <br />® <br />'� <br />0 <br />Single Family Age 20 yrs to 100 yrs Predominant Age 70 yrs <br />to Market <br />Comments including those factors, favorable or unfavorable, affecting marketability (e.g. public parks, <br />schools, view, noise) Sub ' ect ro ert <br />has 33' x 80' dimensions - 2,640 s . ft. - which would appear <br />to be able to be <br />built upon, <br />however, limitation of structure size will be due to set <br />back requirements. <br />Dimensions 33' x 80' = 2640 <br />Sq. Ft- or Acres <br />❑ Corner Lot <br />Zoning classification B - Residential Present improvements <br />❑ do ❑ do not conform <br />to <br />zoning regulations <br />. <br />Highest and best use: ❑ Present use ❑Other (specify) Single Family <br />Public Other (Describe) OFF SITE IMPROVEMENTS <br />Topo <br />Average <br />Elec. R1 Street Access: KI Public Private <br />Size <br />Poor <br />Gas Surface Paved <br />Shape <br />Rectangle <br />Water ® Maintenance: ® Public ❑ Private <br />View <br />Urban <br />San.Sewer ® KI Storm Sewer K] Curb/Gutter <br />Drainage <br />Avera e <br />❑Underground Elect. &Tel,1 M Sidewalk KI Street Lights <br />Is the property located <br />in a HUD Identified Special Flood Hazard Areal ®No DYes <br />Comments (favorable or unfavorable including any apparent adverse easements, encroachments or <br />other adverse conditions) <br />PrODerty appears to have no adverse easements <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 descrip- <br />tion includes a dollar adjustment, reflecting market reaction to those items of significant variation between the subject and comparable properties. if a significant <br />item in the comparable property is superior to, or more favorable than, the subject property, a minus 1-) adjustment is made, thus reducing the indicated value of <br />subject: if a significant item in the comparable is inferior to, or less favorable than, the subject property, a plus (1) adjustment is made, thus increasing the indica- <br />ted value of the subject. <br />ITEM Subject Property COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO. 3 <br />lCaley St. between <br />Address <br />1713 Marietta 606 Wenger 829 W. Calvert LWW and Humboldt <br />Proximit to Sub'. 5 Blocks 14 Blocks <br />Sales Price _ 5 1 000 <br />$ S 400 `�_ $ 1 000 <br />;$.075758/sgf 'S .189/sqft S.190/sgft <br />Price _ $ <br />Date of Sale and <br />Time Adjustment <br />iew <br />DESCRIPTI <br />Urban/Fair <br />33 x 80/Ave <br />ISales or Financing <br />Concessions <br />Net Adj. (Total) <br />Indicated Value <br />of Subiect _ <br />Comments on Market Data <br />crihin0t <br />DESCRIPTION <br />_ <br />Adjustment <br />DESCRIPTION <br />a(-15 <br />Adjustment <br />DE�9a5 T40N A*i 25�ent <br />1980 <br />' + 500 <br />1990 <br />Urban/Fair <br />I <br />Urban/Fair <br />I <br />Urban Ave. t - 250 <br />40 x 132/Ave. <br />- 700 <br />I <br />50 x 132/Ave. <br />1 - 900 <br />40 x 132 Ave. -700 <br />I <br />l <br />l <br />I <br />t <br />� <br />I <br />` <br />l <br />� <br />I <br />900 <br />} <br />l <br />' 700 <br />❑ Plus; ❑x Minus S <br />] Plus;- ®Minus <br />�$ 200 <br />Plus; 0 Minus <br />IS <br />t <br />' 200 <br />11$ 100 <br />1$ 300 <br />-t Ura to t x resSOS a value fr 7 is <br />which cir <br />7 <br />Comments and Conditions of Appraisal: 1 11 1 5 I V 11 1 J <br />to be tatted rior to t7une 1949 this of can be develo ed _ALMn <br />alley will limit the size -width of the structure. <br />Final Reconciliation: As identified in the site/view <br />adjusted to reflect the development limitation. Sub ect reflects #2 more than #1 and <br />i <br />ESTIMATE. THE MARKET VALUE, AS D INED, OF SUBJECT PROPERTY AS OF 5 20 19 94 to be $ <br />t J f / ,, j/ z /' I ,14'Vr ` R A raiser (l( applicable) <br />evrew PP j� nirf 0 Did Not Physically Inspect Property �ty <br />