summary appraisal report
SUMMARY APPRAISAL REPORT OF THE REAL PROPERTY LOCATED AT 1585 Amherst Road Morganton, NC 28655-8936
for
Uniform Residential Appraisal Report
File #
The purpose of this summary appraisal report is to provide the client with an accurate, and adequately supported, opinion of the market value of the subject property.
1585 Amherst Road U. S. Marshalls Service Legal Description Deed Book 1455, Page 36 Assessor's Parcel # 2724558910 Record #12257 Neighborhood Name Drexel/Burke County Occupant Owner Tenant X Vacant Special Property Rights Appraised Fee Simple Leasehold X Intended Use: Seizure
Morganton U. S. Marshalls Service
Property Address Owner
S U B J E C T
City
Intended User
Tax Year
NC
State
2016 2724-55-8910
R. E. Taxes $ See
Map Reference Assessments $ None
Known
Zip Code 28655-8936
County Burke
Extended Comments 208.01
Census Tract HOA $ N/A
PUD
per year
Client
Address
Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of the appraisal?
I
did
X
Yes
No
DOM 0;Burke MLS
Report data source(s) used, offering price(s), and date(s).
C O N T R A C T
per month
Other (describe)
did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not
The subject is not under a sales contract.
performed.
Contract Price $
N/A
Date of Contract
None
Is the property seller the owner of public record?
Yes
No
Data Source(s)
N/A
Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the client?
Yes
No
N/A
If Yes, report the total dollar amount and describe the items to be paid:
Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics
One-Unit Housing Trends
One-Unit Housing
Percent Land Use %
N Urban Rural Property Values Increasing Declining PRICE AGE One-Unit X Suburban X Stable 75.0 % E Location Built-Up Over 75% 25-75% Under 25% Demand/Supply Shortage In Balance Over Supply $(000) (yrs) 2-4 Unit X X 1.0 % I G Growth Rapid Stable Slow Marketing Time Under 3 mths 3-6 mths Over 6 mths Low Multi-Family X X 35 1 1.0 % H Neighborhood Boundaries High Commercial 350 100 5.0 % Catawba County line to the East, Smokey Creek Road to North, B Pred. 115 25 Other 18.0 % O Jamestown Road to West, and Hw y 18 to the South . R Neighborhood Description The subject is located approximately 5 miles NE of the center of Morganton, the population and employment center of the H County. Wide range of values typical of the local marketing area with a wide range of property types in close proximity to each other.Schools, O medical care, shopping, etc. *** See Additional Comments *** O D Market Conditions (including support for the above conclusions) *** See Market Conditions Addendum ***
Area 30056 sf Shape Irregular Irregular - See Attached Maps Zoning Description Single Family Residential R-1 Zoning Compliance Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe) X Legal Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? X Yes Dimensions
View
Residential
Specific Zoning Classification
S Utilities Public Other (describe) I Electricity X T Gas X Propane available E FEMA Special Flood Hazard Area Yes X
Public Other (describe)
X X
Water Sanitary Sewer No
No If No, describe
Off-site Improvements--Type Public
FEMA Flood Zone
X
FEMA Map No.
X
Are the utilities and off-site improvements typical for the market area?
Yes
Private
X
Asphalt Alley None 3710272400J Street
FEMA Map Date
09/05/2007
No. If No, describe
Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes X No If Yes, describe Drainage and utility easements are typical for the area and don't adversely affect the subject's marketability or value. No adverse easements or encroachments were noted. No current survey available to appraiser with size of site taken from deed and/or tax card. General Description Units
X
One
Foundation
One with Accessory Unit
1.00
# of Stories Type
X
X
Existing
Det.
Att.
X
Concrete Slab Full Basement
S-Det/End Unit
Proposed
Exterior Description Crawl Space Partial Basement
None sq. ft. N/A %
Basement Area
Under Const. Basement Finish
Bungalow 1945 Effective Age (Yrs) 45
Evidence of
Attic
Heating
Design (Style) Year Built
None
Outside Entry/Exit
Dampness
X
Sump Pump
Infestation
FWA
Settlement HWBB
materials/condition Interior
Brick-Avg Exterior Walls Vinyl Siding-Avg Roof Surface Metal-Avg Gutters & Downspouts Aluminum-Avg Window Type Vinyl Replacement-Avg Storm Sash/Insulated Thermo-Avg Screens Yes-Avg Foundation Walls
Radiant Amenities
WoodStove(s)#
materials/condition
Cpt/Vin-Poor Walls Dwl/Pan-Fair Trim/Finish Pnt/Stn-Fair Bath Floor Vin-Poor Bath Wainscot Acrylic-Fair
Floors
Car Storage
X
Driveway
Driveway Surface
None
2 Concrete
# of Cars
Drop Stair Stairs Other Fuel Fireplace(s) # Fence None Garage # of Cars I Oil M Floor Cooling Central Air Conditioning Patio/Deck None Carport # of Cars X Scuttle X Porch Cov/Enc P Finished Heated Other Pool Other None Att. Det. Built-in X Individual None R Microwave Washer/Dryer Other (describe) O Appliances N Refrigerator O Range/Oven N Dishwasher E Disposal V Finished area above grade contains: 4 Rooms 2 Bedrooms 1.0 Bath(s) 624 Square Feet of Gross Living Area Above Grade E Additional features (special energy efficient items, etc.) Typical energy saving features; enclosed porch in rear yard accessible via kitchen; detached M outbuildings with minimal contributing value. E N Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). Subject exterior in fair to average con dition T with interior in fair to poor condition. Items of deferred maintenance include: Missing light fixtures in every room; floorcovering damage in kitchen S and bathroom; evidence of water damage on kitchen ceiling - potential previous roof leak; unable to determine whether plumbing is operational; damaged entry door in kitchen; missing exterior door - enclosed porch, cracking and peeling paint, etc Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? X Yes No If Yes, describe See Above. Utilities were not connected at the time of inspection and it could not be determined if they are working adequately. No tests were completed by the appraiser to determine the adequacy or condition of the electrical, mechanical, or plumbing systems. *** See Additional Comments *** Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? X Yes No If No, describe The subject is typical of other single family dwellings noted in the general marketing area.
Uniform Residential Appraisal Report There are
comparable properties currently offered for sale in the subject neighborhood ranging in price from $
There are
comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $
FEATURE
SUBJECT
COMPARABLE SALE # 1
File # to $
.
to $
COMPARABLE SALE # 2
.
COMPARABLE SALE # 3
Address Proximity to Subject Sale Price
$
$
Sale Price/Gross Liv. Area $
sq. ft. $
$
sq. ft.
$
$
sq. ft.
$
sq. ft.
Data Source(s) Verification Source(s) VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION
+(-)$ Adjustment
DESCRIPTION
+(-)$ Adjustment
DESCRIPTION
+(-)$ Adjustment
Sale or Financing Concessions Date of Sale/Time Location Leasehold/Fee Simple Site View Design (Style) Quality of Construction Actual Age Condition Above Grade
S A L E S C O M P A R I S O N A P P R O A C H
Total Bdrms.
Baths
Total Bdrms.
Total Bdrms.
Baths
Total Bdrms.
Baths
Gross Living Area
sq. ft.
sq. ft.
sq. ft.
sq. ft.
Basement & Finished Rooms Below Grade Functional Utility Heating/Cooling Energy Efficient Items Garage/Carport Porch/Patio/Deck
Net Adjustment (Total)
+
Adjusted Sale Price
Net Adj.
-
$ %
+ Net Adj.
-
$ %
+
-
$
Net Adj.
X
X Public records. X Public records, local MLS and local Realtors.
Public Records
R E C O N C I L I A T I O N
Baths
Room Count
X
25,500
04/19/2016
BrkMLS/PubRecords
BrkMLS/PubRecords
BrkMLS/PubRecords
File No.
6bentnR2
ADDITIONAL COMPARABLES U. S. Marshalls Service 1585 Amherst Road County Morganton U. S. Marshalls Service
Intended User
Property Address City
Client
FEATURE
Burke
State
COMPARABLE SALE NO. 4
NC
28655-8936
Zip Code
COMPARABLE SALE NO. 5
COMPARABLE SALE NO. 6
1585 Amherst Road Morganton, NC 28655-8936
Address
3.06 miles SE
Proximity to Subject Sale Price
$
N/A
Sale Price/Gross Liv. Area
$
sq. ft. $
36,000
$
46.45
sq. ft.
$ $
$
sq. ft.
$
sq. ft.
Data Source(s) Verification Source(s) VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION
DESCRIPTION
+(-)$ Adjustment
DESCRIPTION
+(-)$ Adjustment
+(-)$ Adjustment
Sale or Financing Concessions Date of Sale/Time Location Leasehold/Fee Simple Site View Design (Style) Quality of Construction Actual Age Condition Above Grade
Total Bdrms.
Baths
Total Bdrms.
Baths
Total Bdrms.
Baths
Total Bdrms.
Baths
Room Count Gross Living Area
sq. ft.
sq. ft.
sq. ft.
sq. ft.
Basement & Finished Rooms Below Grade Functional Utility Heating/Cooling Energy Efficient Items Garage/Carport Porch/Patio/Deck
Net Adjustment (Total) Adjusted Sale Price of Comparables ITEM
+
-
$
Net Adj.
%
Gross Adj.
% $
SUBJECT
-12,000
+ Net Adj.
COMPARABLE
Gross Adj. SALE
Date of Prior Sale/Transfer Price of Prior Sale/Transfer Data Source(s) Effective Date of Data Source(s) Comment on Sales Comparison
Public Records
BrkMLS/PubRecords
#4
-
$
+
%
Net Adj.
% $ COMPARABLE
#5
$ %
Gross Adj. SALE
-
% $
COMPARABLE
SALE
#6
File No.
PHOTOGRAPH ADDENDUM Intended User
1585 Amherst Road Morganton
Property Address City
County
Burke
State
NC
Zip Code
28655-8936
Client
FRONT VIEW OF SUBJECT PROPERTY
REAR VIEW OF SUBJECT PROPERTY
STREET SCENE OF SUBJECT PROPERTY
PHOTOGRAPH ADDENDUM Intended User
1585 Amherst Road Morganton
Living Room
Kitchen
Bedroom
Bedroom
Bathroom
File No.
PHOTOGRAPH ADDENDUM Intended User
1585 Amherst Road County Burke Morganton
Property Address City
State
NC
Zip Code
Client
Missing Light Fixture (Living Room)
Missing Light Fixture (Kitchen)
Missing Light Fixture (Bedroom)
Missing Light Fixture (Bedroom)
Ceiling Damage (Kitchen)
Floorcovering Damage (Kitchen)
28655-8936
File No.
PHOTOGRAPH ADDENDUM Intended User
1585 Amherst Road Morganton
Burke
NC
Floorcovering Damage (Bathroom)
Damaged Entry Door (Kitchen)
Missing Door (Enclosed Porch)
Enclosed Porch
Side View
Side View
28655-8936
File No.
PHOTOGRAPH ADDENDUM Intended User
1585 Amherst Road County Burke Morganton
Property Address City
State
NC
Client
Detached Outbuilding
Detached Outbuilding
Detached Metal Carport
Seizure Notice
911 Address
Amherst Road
Zip Code
28655-8936
for
Uniform Residential Appraisal Report
File #
The purpose of this summary appraisal report is to provide the client with an accurate, and adequately supported, opinion of the market value of the subject property.
1585 Amherst Road U. S. Marshalls Service Legal Description Deed Book 1455, Page 36 Assessor's Parcel # 2724558910 Record #12257 Neighborhood Name Drexel/Burke County Occupant Owner Tenant X Vacant Special Property Rights Appraised Fee Simple Leasehold X Intended Use: Seizure
Morganton U. S. Marshalls Service
Property Address Owner
S U B J E C T
City
Intended User
Tax Year
NC
State
2016 2724-55-8910
R. E. Taxes $ See
Map Reference Assessments $ None
Known
Zip Code 28655-8936
County Burke
Extended Comments 208.01
Census Tract HOA $ N/A
PUD
per year
Client
Address
Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of the appraisal?
I
did
X
Yes
No
DOM 0;Burke MLS
Report data source(s) used, offering price(s), and date(s).
C O N T R A C T
per month
Other (describe)
did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not
The subject is not under a sales contract.
performed.
Contract Price $
N/A
Date of Contract
None
Is the property seller the owner of public record?
Yes
No
Data Source(s)
N/A
Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the client?
Yes
No
N/A
If Yes, report the total dollar amount and describe the items to be paid:
Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics
One-Unit Housing Trends
One-Unit Housing
Percent Land Use %
N Urban Rural Property Values Increasing Declining PRICE AGE One-Unit X Suburban X Stable 75.0 % E Location Built-Up Over 75% 25-75% Under 25% Demand/Supply Shortage In Balance Over Supply $(000) (yrs) 2-4 Unit X X 1.0 % I G Growth Rapid Stable Slow Marketing Time Under 3 mths 3-6 mths Over 6 mths Low Multi-Family X X 35 1 1.0 % H Neighborhood Boundaries High Commercial 350 100 5.0 % Catawba County line to the East, Smokey Creek Road to North, B Pred. 115 25 Other 18.0 % O Jamestown Road to West, and Hw y 18 to the South . R Neighborhood Description The subject is located approximately 5 miles NE of the center of Morganton, the population and employment center of the H County. Wide range of values typical of the local marketing area with a wide range of property types in close proximity to each other.Schools, O medical care, shopping, etc. *** See Additional Comments *** O D Market Conditions (including support for the above conclusions) *** See Market Conditions Addendum ***
Area 30056 sf Shape Irregular Irregular - See Attached Maps Zoning Description Single Family Residential R-1 Zoning Compliance Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe) X Legal Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? X Yes Dimensions
View
Residential
Specific Zoning Classification
S Utilities Public Other (describe) I Electricity X T Gas X Propane available E FEMA Special Flood Hazard Area Yes X
Public Other (describe)
X X
Water Sanitary Sewer No
No If No, describe
Off-site Improvements--Type Public
FEMA Flood Zone
X
FEMA Map No.
X
Are the utilities and off-site improvements typical for the market area?
Yes
Private
X
Asphalt Alley None 3710272400J Street
FEMA Map Date
09/05/2007
No. If No, describe
Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes X No If Yes, describe Drainage and utility easements are typical for the area and don't adversely affect the subject's marketability or value. No adverse easements or encroachments were noted. No current survey available to appraiser with size of site taken from deed and/or tax card. General Description Units
X
One
Foundation
One with Accessory Unit
1.00
# of Stories Type
X
X
Existing
Det.
Att.
X
Concrete Slab Full Basement
S-Det/End Unit
Proposed
Exterior Description Crawl Space Partial Basement
None sq. ft. N/A %
Basement Area
Under Const. Basement Finish
Bungalow 1945 Effective Age (Yrs) 45
Evidence of
Attic
Heating
Design (Style) Year Built
None
Outside Entry/Exit
Dampness
X
Sump Pump
Infestation
FWA
Settlement HWBB
materials/condition Interior
Brick-Avg Exterior Walls Vinyl Siding-Avg Roof Surface Metal-Avg Gutters & Downspouts Aluminum-Avg Window Type Vinyl Replacement-Avg Storm Sash/Insulated Thermo-Avg Screens Yes-Avg Foundation Walls
Radiant Amenities
WoodStove(s)#
materials/condition
Cpt/Vin-Poor Walls Dwl/Pan-Fair Trim/Finish Pnt/Stn-Fair Bath Floor Vin-Poor Bath Wainscot Acrylic-Fair
Floors
Car Storage
X
Driveway
Driveway Surface
None
2 Concrete
# of Cars
Drop Stair Stairs Other Fuel Fireplace(s) # Fence None Garage # of Cars I Oil M Floor Cooling Central Air Conditioning Patio/Deck None Carport # of Cars X Scuttle X Porch Cov/Enc P Finished Heated Other Pool Other None Att. Det. Built-in X Individual None R Microwave Washer/Dryer Other (describe) O Appliances N Refrigerator O Range/Oven N Dishwasher E Disposal V Finished area above grade contains: 4 Rooms 2 Bedrooms 1.0 Bath(s) 624 Square Feet of Gross Living Area Above Grade E Additional features (special energy efficient items, etc.) Typical energy saving features; enclosed porch in rear yard accessible via kitchen; detached M outbuildings with minimal contributing value. E N Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). Subject exterior in fair to average con dition T with interior in fair to poor condition. Items of deferred maintenance include: Missing light fixtures in every room; floorcovering damage in kitchen S and bathroom; evidence of water damage on kitchen ceiling - potential previous roof leak; unable to determine whether plumbing is operational; damaged entry door in kitchen; missing exterior door - enclosed porch, cracking and peeling paint, etc Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? X Yes No If Yes, describe See Above. Utilities were not connected at the time of inspection and it could not be determined if they are working adequately. No tests were completed by the appraiser to determine the adequacy or condition of the electrical, mechanical, or plumbing systems. *** See Additional Comments *** Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? X Yes No If No, describe The subject is typical of other single family dwellings noted in the general marketing area.
Uniform Residential Appraisal Report There are
comparable properties currently offered for sale in the subject neighborhood ranging in price from $
There are
comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $
FEATURE
SUBJECT
COMPARABLE SALE # 1
File # to $
.
to $
COMPARABLE SALE # 2
.
COMPARABLE SALE # 3
Address Proximity to Subject Sale Price
$
$
Sale Price/Gross Liv. Area $
sq. ft. $
$
sq. ft.
$
$
sq. ft.
$
sq. ft.
Data Source(s) Verification Source(s) VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION
+(-)$ Adjustment
DESCRIPTION
+(-)$ Adjustment
DESCRIPTION
+(-)$ Adjustment
Sale or Financing Concessions Date of Sale/Time Location Leasehold/Fee Simple Site View Design (Style) Quality of Construction Actual Age Condition Above Grade
S A L E S C O M P A R I S O N A P P R O A C H
Total Bdrms.
Baths
Total Bdrms.
Total Bdrms.
Baths
Total Bdrms.
Baths
Gross Living Area
sq. ft.
sq. ft.
sq. ft.
sq. ft.
Basement & Finished Rooms Below Grade Functional Utility Heating/Cooling Energy Efficient Items Garage/Carport Porch/Patio/Deck
Net Adjustment (Total)
+
Adjusted Sale Price
Net Adj.
-
$ %
+ Net Adj.
-
$ %
+
-
$
Net Adj.
X
X Public records. X Public records, local MLS and local Realtors.
Public Records
R E C O N C I L I A T I O N
Baths
Room Count
X
25,500
04/19/2016
BrkMLS/PubRecords
BrkMLS/PubRecords
BrkMLS/PubRecords
File No.
6bentnR2
ADDITIONAL COMPARABLES U. S. Marshalls Service 1585 Amherst Road County Morganton U. S. Marshalls Service
Intended User
Property Address City
Client
FEATURE
Burke
State
COMPARABLE SALE NO. 4
NC
28655-8936
Zip Code
COMPARABLE SALE NO. 5
COMPARABLE SALE NO. 6
1585 Amherst Road Morganton, NC 28655-8936
Address
3.06 miles SE
Proximity to Subject Sale Price
$
N/A
Sale Price/Gross Liv. Area
$
sq. ft. $
36,000
$
46.45
sq. ft.
$ $
$
sq. ft.
$
sq. ft.
Data Source(s) Verification Source(s) VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION
DESCRIPTION
+(-)$ Adjustment
DESCRIPTION
+(-)$ Adjustment
+(-)$ Adjustment
Sale or Financing Concessions Date of Sale/Time Location Leasehold/Fee Simple Site View Design (Style) Quality of Construction Actual Age Condition Above Grade
Total Bdrms.
Baths
Total Bdrms.
Baths
Total Bdrms.
Baths
Total Bdrms.
Baths
Room Count Gross Living Area
sq. ft.
sq. ft.
sq. ft.
sq. ft.
Basement & Finished Rooms Below Grade Functional Utility Heating/Cooling Energy Efficient Items Garage/Carport Porch/Patio/Deck
Net Adjustment (Total) Adjusted Sale Price of Comparables ITEM
+
-
$
Net Adj.
%
Gross Adj.
% $
SUBJECT
-12,000
+ Net Adj.
COMPARABLE
Gross Adj. SALE
Date of Prior Sale/Transfer Price of Prior Sale/Transfer Data Source(s) Effective Date of Data Source(s) Comment on Sales Comparison
Public Records
BrkMLS/PubRecords
#4
-
$
+
%
Net Adj.
% $ COMPARABLE
#5
$ %
Gross Adj. SALE
-
% $
COMPARABLE
SALE
#6
File No.
PHOTOGRAPH ADDENDUM Intended User
1585 Amherst Road Morganton
Property Address City
County
Burke
State
NC
Zip Code
28655-8936
Client
FRONT VIEW OF SUBJECT PROPERTY
REAR VIEW OF SUBJECT PROPERTY
STREET SCENE OF SUBJECT PROPERTY
PHOTOGRAPH ADDENDUM Intended User
1585 Amherst Road Morganton
Living Room
Kitchen
Bedroom
Bedroom
Bathroom
File No.
PHOTOGRAPH ADDENDUM Intended User
1585 Amherst Road County Burke Morganton
Property Address City
State
NC
Zip Code
Client
Missing Light Fixture (Living Room)
Missing Light Fixture (Kitchen)
Missing Light Fixture (Bedroom)
Missing Light Fixture (Bedroom)
Ceiling Damage (Kitchen)
Floorcovering Damage (Kitchen)
28655-8936
File No.
PHOTOGRAPH ADDENDUM Intended User
1585 Amherst Road Morganton
Burke
NC
Floorcovering Damage (Bathroom)
Damaged Entry Door (Kitchen)
Missing Door (Enclosed Porch)
Enclosed Porch
Side View
Side View
28655-8936
File No.
PHOTOGRAPH ADDENDUM Intended User
1585 Amherst Road County Burke Morganton
Property Address City
State
NC
Client
Detached Outbuilding
Detached Outbuilding
Detached Metal Carport
Seizure Notice
911 Address
Amherst Road
Zip Code
28655-8936
