91-22 AUTHORIZING SALE OF PROPERTY - 614 EAST CANTRELL STREET

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� � ----- -- -------�: ; i. i; �. Reconciliation and Final Value Estimate The results shown by these approaches are as follows: Cost Omitted j � Market Data $54, 000 I! Income ' $52, 000 ; The cost approach is most effective when estimating value of ! new or recently constructed property . However , it is � difficult to apply in this case due to the problems in � estimating such factors as accrued physical depreciation, �; ' functional and external obsolescence, as well as estimating the remaining economic life of the improvements. The cost I! to replace this p�operty is considerably greater than what �i � it would sell for in the market. This approach is therefore ' ' omitted. �; I The income approach estimates the property value based upon '; � a net income generated from the land and improvements. This � method is actually a comparison of available investments in � the market; therefore, it is given the most weight by the I investor. ;, ;. (i I': The sales included in the market data approach estimate what the typical pur�chaser, an owner/occupant, would pay for the property. These transactions have been analyzed and a unit of comparison arrived at based on a merged price per SF of � �' building area . Therefore , the market data approach gives ' the best indication of what the property would sell for if i, Placed on the market and is given the most emphasis. � i i!� After analysis, it is my opinion that the estimated market ' � value of the involved ro ert is. . � ;, P P Y • . . . . . . $54, 000. �. i ' i� i li �, i �! �', � �: I� I II �' , �i � I� � I� � !I I 26 ; � �i J: R^.�t�i�i�^.c _ M ir. hr^. . -- -