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Page # 1 of 23Caldarelli Real Estate Appraisal
File # 2018-239
APPRAISAL OF REAL PROPERTY
LOCATED AT39676 MEADOWOOD LOOP
ZEPHYRHILLS, FL 33542
FORFaith and Joshua Cox
39676 Meadowood LoopZephyrhills, FL 33542
OPINION OF VALUE$135,000
AS OF07/03/2018
TABLE OF CONTENTSTable of Contents/Cover Page ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
GP Residential ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
GP Residential ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Additional Comparables 4-6 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
GP Residential ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
GP Residential ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Subject Photos ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Photograph Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Comparable Photos 1-3 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Comparable Photos 4-6 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Location Map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Parcel Map ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Building Sketch ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
R-2 Zoning District - Page 1 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
R-2 Zoning District - Page 2 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
R-2 Zoning District - Page 3 ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
GP Residential Certifications Addendum ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
GLB Act Privacy Notification ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Appraisal License ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
Invoice ....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................
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Form TCGV - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Page # 2 of 23Caldarelli Real Estate Appraisal
2018-239RESIDENTIAL APPRAISAL REPORT39676 MEADOWOOD LOOP ZEPHYRHILLS FL 33542
Pasco MEADOWOOD ESTATES PB 15 PG 106 LOT 28 OR 8808 PG 1051
13-26-21-0140-00000-02802017 639.94 65.00 N/A
Joshua Cox
Meadowood Estates 45300 0331.02
This report is intended for use to evaluate the subject property for the purpose of a list price decision. The subject property is not currently MLS listed but is intended to be listed in the near future.
Faith and Joshua Cox Faith and Joshua Cox 39676 Meadowood Loop, Zephyrhills, FL 33542
Nicholas E Caldarelli 23949 Forest View Drive, Land O Lakes, FL 34639
5818 85
200154
111839
80050505
Other 05The subject property is located north and west of
Chancey Road, south of State Road 54, and east of US Highway 301, in Zephyrhills, Florida. Multiple data searches were performed on MLS to ascertain current market conditions and trends. Reports included all SFR sales within 2, 3 & 5 mile radii as well as the zip code 33542. These reports revealed some indications of price decline but were reconciled to an overall conclusion of stable property values during the past year. The One Unit Housing price data above is based on SFR sales during the past year within a two mile radius with 1100sf to 1700sf heated living areas (GLA) and years built from 1975 to 2000. This data revealed 14 sales during the past year and 4 active listings indicating a three month supply of listings a shortage in supply. The sales deemed most relevant and included in this report sold from $85,000 to $200,000 and resulted with adjusted sale prices ranging from $116,900 to $153,945. The opinion of market value expressed in this report is $135,000 and is well supported within the ranges of the adjusted and unadjusted sale prices of the comp sales with most weight applied to more recent comps. A list price 3%-5% higher is recommended ($140,000).
58.32 x 110 x 89.99 x 110 (Per County Records / No Survey Provided) 8,030 Sq.Ft.R-2 Low Density Residential District
Current use as a SFR is the H&BU per zoning regs. Property predates zoning. Legal non-conforming use due to lot width less than the required 80' and lot size less than the required 9,500 SqFt. No effect to value or marketability due to non-conforming use.
Single Family Residence Single Family ResidenceThe subject property is a Single Family Residence in a neighborhood of similar dwellings with compatible zoning. The subject property's present use as a
Single Family Residence represents the most profitable legal use of the property consistent with zoning regulations.
Public ServiceNonePublic Service AvailableSeptic SystemNone
AsphaltNoneNoneOver HeadNone
Generally Level 8,030 Sq.Ft.RectangularAdequateResidential
X 12101C0458F 9/26/2014
The subject parcel is typical for residential properties in the neighborhood and is adequate for the improvements. Parcel dimensions and size were obtained from the county assessor's data and are assumed accurate. Use of private septic systems is typical in this market and has no adverse effects on value or marketability. The subject property is located in close proximity to a small airport. The noise associated with the airport was minimal on the date of inspection and the location is not considered adverse. All the comp sales included in this report are also located within close proximity to the airport and provide a good indication of the marketability and value of a property in this location.
11
Ranch
3025
SlabConcrete BlockComp ShingleAluminumSingle HungScreen
ConcreteNoneNone
FWAC/H/AElectric
C/H/AYes
Form GPRES2_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
File No.:
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Property Address: City: State: Zip Code:
County: Legal Description:
Assessor's Parcel #:
Tax Year: R.E. Taxes: $ Special Assessments: $ Borrower (if applicable):
Current Owner of Record: Occupant: Owner Tenant Vacant Manufactured Housing
Project Type: PUD Condominium Cooperative Other (describe) HOA: $ per year per month
Market Area Name: Map Reference: Census Tract:
AS
SIG
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The purpose of this appraisal is to develop an opinion of: Market Value (as defined), or other type of value (describe)
This report reflects the following value (if not Current, see comments): Current (the Inspection Date is the Effective Date) Retrospective Prospective
Approaches developed for this appraisal: Sales Comparison Approach Cost Approach Income Approach (See Reconciliation Comments and Scope of Work)
Property Rights Appraised: Fee Simple Leasehold Leased Fee Other (describe)
Intended Use:
Intended User(s) (by name or type):
Client: Address:
Appraiser: Address:
MA
RK
ET
AR
EA
DE
SC
RIP
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Location: Urban Suburban Rural
Built up: Over 75% 25-75% Under 25%
Growth rate: Rapid Stable Slow
Property values: Increasing Stable Declining
Demand/supply: Shortage In Balance Over Supply
Marketing time: Under 3 Mos. 3-6 Mos. Over 6 Mos.
PredominantOccupancy
Owner
Tenant
Vacant (0-5%)
Vacant (>5%)
One-Unit Housing
PRICE
$(000)
Low
High
Pred
AGE
(yrs)
Present Land Use
One-Unit %
2-4 Unit %
Multi-Unit %
Comm'l %
%
Change in Land Use
Not Likely
Likely * In Process *
* To:
Market Area Boundaries, Description, and Market Conditions (including support for the above characteristics and trends):
SIT
E D
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CR
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Dimensions: Site Area:
Zoning Classification: Description:
Zoning Compliance: Legal Legal nonconforming (grandfathered) Illegal No zoning
Are CC&Rs applicable? Yes No Unknown Have the documents been reviewed? Yes No Ground Rent (if applicable) $ /
Highest & Best Use as improved: Present use, or Other use (explain)
Actual Use as of Effective Date: Use as appraised in this report:
Summary of Highest & Best Use:
Utilities Public Other Provider/Description Off-site Improvements Type Public Private
Electricity
Gas
Water
Sanitary Sewer
Storm Sewer
Street
Curb/Gutter
Sidewalk
Street Lights
Alley
Topography
Size
Shape
Drainage
View
Other site elements: Inside Lot Corner Lot Cul de Sac Underground Utilities Other (describe)
FEMA Spec'l Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date
Site Comments:
IMP
RO
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ME
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General Description
# of Units Acc.Unit
# of Stories
Type Det. Att.
Design (Style)
Existing Proposed Und.Cons.
Actual Age (Yrs.)
Effective Age (Yrs.)
Exterior Description
Foundation
Exterior Walls
Roof Surface
Gutters & Dwnspts.
Window Type
Storm/Screens
Foundation
Slab
Crawl Space
Basement
Sump Pump
Dampness
Settlement
Infestation
Basement None
Area Sq. Ft.
% Finished
Ceiling
Walls
Floor
Outside Entry
Heating
Type
Fuel
Cooling
Central
Other
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
3/2007
Page # 3 of 23
2018-239RESIDENTIAL APPRAISAL REPORT
Wood Laminate / TileDrywall WoodTileTileWood
0Enclosed PorchNoneCovered PorchWoodNone
0 1
1Concrete
6 3 1/1 1,400Interior of the dwelling includes a kitchen, dining area, living room, laundry room, three bedrooms, one full and one half bathrooms. Exterior areas include a covered
front porch and a rear enclosed porch. The main dwelling has had updating during the past few years and is in good condition. The dwelling is two feet longer than reflected in county data and is therefore slightly larger than is reflected in county data.
The appraiser is not a home inspector and the appraisal report is not a home inspection. The appraiser is not responsible for determining the functionality of appliances or mechanical systems and is not qualified to perform such tests. The appraiser performs a walk through observational inspection of the subject property and notes the materials and condition of which were readily apparent. The dwelling was constructed in 1988 and has had extensive updating during the past few years. Updates include new kitchen appliances, new roof, A/C system and ducts, and new flooring. The recent updates have resulted with a lower effective age and a prolonged remaining economic life of the dwelling. Overall condition is considered to be good. No major repair issues noted.
39676 MEADOWOOD LOOPZEPHYRHILLS, FL 33542
07/03/2018 InspectionAssessor's Data
N/AFee SimpleZephyrhills8,030 Sq.Ft.ResidentialRanchGood30Good
6 3 1/11,400
00AverageC/H/AStandard ItemsNoneCovered Porch
Porch/Patio/Deck Enclosed PorchPool No PoolFireplace No FireplaceExtras
5122 19TH STZEPHYRHILLS, FL 335421.29 MILES NW
132,00099.40
MLS # T3116318 Assessor's Data
Arm's Length SaleFHA; $0 006/29/2018 0Fee SimpleZephyrhills6,006 sf +2,024ResidentialRanchGood33 0Good
-3,0006 3 2
1,328 +2,88000AverageC/H/AStandard Items1 Car Garage -5,000Covered EntryNone +3,000No PoolNo Fireplace
-96
Net 0.1 %
Gross 12.0 % 131,904
5024 20TH STZEPHYRHILLS, FL 335421.17 MILES NW
200,000142.45
MLS # E2205820 Assessor's Data
Arm's Length SaleConventional; $0 003/29/2018 0Fee SimpleZephyrhills19,733 sf -11,703ResidentialRanchGood19 -5,500Good
-3,0006 3 2
1,40400AverageC/H/AStandard Items2 Car Garage -10,000Covered EntryScreened Pool Enclosure -2,000In-ground Pool -10,000No Fireplace2 Detached Garages -8,000
-50,203
Net 25.1 %
Gross 25.1 % 149,797
4330 5TH STZEPHYRHILLS, FL 335421.31 MILES W
159,900105.75
MLS # E2204780 Assessor's Data
Arm's Length SaleFHA; $5,947 -5,94712/30/2017 0Fee SimpleZephyrhills15,578 sf -7,548ResidentialRanchGood22 -4,000Good
-3,0006 3 2
1,512 -4,48000AverageC/H/AStandard ItemsCarport -2,000Covered PorchNone +3,000No PoolOne Fireplace -2,000
-25,975
Net 16.2 %
Gross 20.0 % 133,925
Form GPRES2_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
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Interior Description
Floors
Walls
Trim/Finish
Bath Floor
Bath Wainscot
Doors
Appliances
Refrigerator
Range/Oven
Disposal
Dishwasher
Fan/Hood
Microwave
Washer/Dryer
Attic None
Stairs
Drop Stair
Scuttle
Doorway
Floor
Heated
Finished
Amenities
Fireplace(s) #
Patio
Deck
Porch
Fence
Pool
Woodstove(s) #
Car Storage None
Garage # of cars ( Tot.)
Attach.
Detach.
Blt.-In
Carport
Driveway
Surface
Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above Grade
Additional features:
Describe the condition of the property (including physical, functional and external obsolescence):
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SALES COMPARISON APPROACH TO VALUE (if developed) The Sales Comparison Approach was not developed for this appraisal.
FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3
Address
Proximity to Subject
Sale Price $ $ $ $
Sale Price/GLA $ /sq.ft. $ /sq.ft. $ /sq.ft. $ /sq.ft.
Data Source(s)
Verification Source(s)
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust.
Sales or Financing
Concessions
Date of Sale/Time
Rights Appraised
Location
Site
View
Design (Style)
Quality of Construction
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 $ $ $Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
3/2007
Page # 4 of 23
2018-239ADDITIONAL COMPARABLE SALES
39676 MEADOWOOD LOOPZEPHYRHILLS, FL 33542
07/03/2018 InspectionAssessor's Data
N/AFee SimpleZephyrhills8,030 Sq.Ft.ResidentialRanchGood30Good
6 3 1/11,400
00AverageC/H/AStandard ItemsNoneCovered Porch
Porch/Patio/Deck Enclosed PorchPool No PoolFireplace No FireplaceExtras
5636 CYPRESS STZEPHYRHILLS, FL 335421.69 MILES N
162,000109.53
MLS # T2912847 Assessor's Data
Arm's Length SaleFHA; $0 012/14/2017 0Fee SimpleZephyrhills 010,925 sf -2,895ResidentialRanchGood27 0Average +10,000
-3,0006 3 2
1,479 -3,16000AverageC/H/AStandard Items2 Car Garage -10,000Covered EntryScreened Lanai +1,000No PoolNo Fireplace
-8,055
Net 5.0 %
Gross 18.6 % 153,945
39628 MEADOWOOD LOOPZEPHYRHILLS, FL 335420.07 MILES NW
85,00081.73
MLS # T2890697 Assessor's Data
Arm's Length SaleConventional; $0 010/12/2017 0Fee SimpleZephyrhills 08,030 sfResidentialRanchGood39 +4,500Average +10,000
+3,0006 3 1
1,040 +14,40000AverageC/H/AStandard ItemsCarport -2,000Screened Porch -1,000None +3,000No PoolNo Fireplace
31,900
Net 37.5 %
Gross 44.6 % 116,900Net 0.0 %
Gross 0.0 %The Intended User of this appraisal report is the Client. The Intended Use is to evaluate the property that is the subject of this appraisal report
for the purpose of a list price decision, subject to the stated Scope of Work, purpose of the appraisal, reporting requirements of this appraisal report form, and Definition of Market Value. No additional Intended Users are identified by the appraiser.
Comparable sales were obtained from My Florida Regional MLS (Matrix) supplemented and cross referenced with property records from the County Assessor's records. Comparable sale search parameters focused on recent nearby SFR sales with the most comparable heated living areas (GLA), room counts, design and condition. Priority in comp selection was given to the most proximate recent sales. There were very few recent sales in the immediate subdivision. As such it was necessary to expand the search radius to find the most comparable recent sales. While a broad body of sales data was analyzed and considered during the valuation of the subject property, five comparable sales were selected to communicate and demonstrate the appraisal analysis and conclusion. All five comp sales are located within the same general market area and have comparable GLA, age, design, condition, and site size. Each of the comparable sales contain physical differences that warranted market adjustments however they are considered to be the most similar available and are deemed to collectively provide a good indication of market value for the subject property. The Comp Sales are placed in the sales grid in order of most recent sales first. Their sale price breakdown is provided below.
Comp Sale Price Breakdown:Unadjusted Comp Sale prices from low to high: $85,000 - $132,000 - $159,900 - $162,000 - $200,000. Adjusted Comp Sale prices from low to high: $116,900 - $131,904 - $133,925 - $149,797 - $153,945. The opinion of market value expressed in this report is $135,000 which is well supported within the ranges of the adjusted and unadjusted sale prices of the comp sales with most weight applied to the more recent sales. A list price 3%-5% higher is recommended ($140,000).
Form GPRES2_LT.(AC) - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
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FEATURE SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #
Address
Proximity to Subject
Sale Price $ $ $ $
Sale Price/GLA $ /sq.ft. $ /sq.ft. $ /sq.ft. $ /sq.ft.
Data Source(s)
Verification Source(s)
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust.
Sales or Financing
Concessions
Date of Sale/Time
Rights Appraised
Location
Site
View
Design (Style)
Quality of Construction
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 $ $ $
Summary of Sales Comparison Approach
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
3/2007
Page # 5 of 23
2018-239RESIDENTIAL APPRAISAL REPORT
Sales Grid Adjustments:Adjustments for date of sale unwarranted due to stable neighborhood property values. Site size adjusted $1 per sqft. Age adjusted $500 per year.GLA adjusted $40 per sf for differences of 50sf and greater.Bathrooms adjusted $3K per half bath.Garage adjusted $5K per stall.Carport adjusted $2K.Outbuildings adjusted based on size and quality.In-ground pool adjusted $10K.Screened pool enclosure adjusted $5K. Enclosed porch adjusted $3K.Fireplace adjusted $2K.Adjustments reflect market reaction to differences in features and not the cost of the features.
State-registered Trainee Appraiser Shannon A Caldarelli Lic # RI24244 contributed to the development of this appraisal report. See the Certifications Addendum for details.
135,000
County Assessor / MLS
Assessor's Records
County Assessor's records and MLS revealed no prior sales of the subject property within the past three years and no prior sales of the Comp Sales during the 12 month period preceding their recent sales.
The cost approach was not developed as it was not deemed necessary for credible assignment results for this intended use.
A floor plan sketch is provided to assist the reader in visualizing the property size, shape and layout. The appraiser made every effort to measure the exterior dimensions to the nearest inch however the sketch is not a survey and deviations from actual size may exist. Appraisal measurements revealed the dwelling is two feet longer than reflected in county data and is therefore slightly larger than is reflected in county data.
Form GPRES2_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
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Summary of Sales Comparison Approach
Indicated Value by Sales Comparison Approach $
TR
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HIS
TO
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My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.
Data Source(s):
1st Prior Subject Sale/Transfer
Date:
Price:
Source(s):
2nd Prior Subject Sale/Transfer
Date:
Price:
Source(s):
Analysis of sale/transfer history and/or any current agreement of sale/listing:
CO
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COST APPROACH TO VALUE (if developed) The Cost Approach was not developed for this appraisal.
Provide adequate information for replication of the following cost figures and calculations.
Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value):
ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW
Source of cost data:
Quality rating from cost service: Effective date of cost data:
OPINION OF SITE VALUE =$
DWELLING Sq.Ft. @ $ =$
Sq.Ft. @ $ =$
Sq.Ft. @ $ =$
Sq.Ft. @ $ =$
Sq.Ft. @ $ =$
=$
Garage/Carport Sq.Ft. @ $ =$
Total Estimate of Cost-New =$
Less Physical Functional External
Depreciation =$( )
Depreciated Cost of Improvements =$
''As-is'' Value of Site Improvements =$
=$
=$
INDICATED VALUE BY COST APPROACH =$
Comments on Cost Approach (gross living area calculations, depreciation, etc.):
Estimated Remaining Economic Life (if required): YearsCopyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
3/2007
Page # 6 of 23
2018-239RESIDENTIAL APPRAISAL REPORT
Income Approach was not developed as it was not deemed necessary for credible assignment results for this intended use.
135,000
Greatest weight is given to the Sales Comparison Approach to Value as it best reflects attitudes of buyers and sellers to current market conditions. The cost approach was not developed as it was not deemed necessary for credible assignment results for this intended use. Income Approach was not developed as it was not deemed necessary for credible assignment results for this intended use.
This is an Appraisal Report as defined by the 2018-2019 edition of the Uniform Standards of Professional Appraisal Practice. I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment.
135,000 07/03/2018
23
Scope of Work Limiting Cond./Certifications Narrative Addendum Photograph Addenda Sketch Addendum
Map Addenda Additional Sales Cost Addendum Flood Addendum Manuf. House AddendumHypothetical Conditions Extraordinary Assumptions
Faith Cox Faith and Joshua Cox faithcox@kw.com, jcox0618@gmail.com, vgamble0928@gmail.com 39676 Meadowood Loop, Zephyrhills, FL 33542
Nicholas E CaldarelliCaldarelli Real Estate Appraisal
(813) 244-2370floridarea@verizon.net
07/07/2018Cert Res RD6538 FL
State-Certified Residential Real Estate Appraiser11/30/2018
07/03/2018
Form GPRES2_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
File No.:
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INCOME APPROACH TO VALUE (if developed) The Income Approach was not developed for this appraisal.
Estimated Monthly Market Rent $ X Gross Rent Multiplier = $ Indicated Value by Income Approach
Summary of Income Approach (including support for market rent and GRM):
PU
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PROJECT INFORMATION FOR PUDs (if applicable) The Subject is part of a Planned Unit Development.
Legal Name of Project:
Describe common elements and recreational facilities:
RE
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Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $
Final Reconciliation
This appraisal is made ''as is'', subject to completion per plans and specifications on the basis of a Hypothetical Condition that the improvements have been
completed, subject to the following repairs or alterations on the basis of a Hypothetical Condition that the repairs or alterations have been completed, subject to
the following required inspection based on the Extraordinary Assumption that the condition or deficiency does not require alteration or repair:
This report is also subject to other Hypothetical Conditions and/or Extraordinary Assumptions as specified in the attached addenda.
Based on the degree of inspection of the subject property, as indicated below, defined Scope of Work, Statement of Assumptions and Limiting Conditions,and Appraiser’s Certifications, my (our) Opinion of the Market Value (or other specified value type), as defined herein, of the real property that is the subjectof this report is: $ , as of: , which is the effective date of this appraisal.If indicated above, this Opinion of Value is subject to Hypothetical Conditions and/or Extraordinary Assumptions included in this report. See attached addenda.
AT
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S A true and complete copy of this report contains pages, including exhibits which are considered an integral part of the report. This appraisal report may not be
properly understood without reference to the information contained in the complete report.
Attached Exhibits:
SIG
NA
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Client Contact: Client Name:
E-Mail: Address:
APPRAISER
Appraiser Name:
Company:
Phone: Fax:
E-Mail:
Date of Report (Signature):
License or Certification #: State:
Designation:
Expiration Date of License or Certification:
Inspection of Subject: Interior & Exterior Exterior Only None
Date of Inspection:
SUPERVISORY APPRAISER (if required)
or CO-APPRAISER (if applicable)
Supervisory orCo-Appraiser Name:
Company:
Phone: Fax:
E-Mail:
Date of Report (Signature):
License or Certification #: State:
Designation:
Expiration Date of License or Certification:
Inspection of Subject: Interior & Exterior Exterior Only None
Date of Inspection:Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
3/2007
Page # 7 of 23
Form LPICPIX.DSS_LTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Photos
Faith and Joshua Cox 39676 MEADOWOOD LOOPZEPHYRHILLS Pasco FL 33542Joshua Cox
Subject Front
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
39676 MEADOWOOD LOOP
1,400631/1ZephyrhillsResidential8,030 Sq.Ft.Good30
Subject Rear
Subject Street
Client
Owner
Property Address
City County State Zip Code
Page # 8 of 23
Form PIC6_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Photograph Addendum
Faith and Joshua Cox 39676 MEADOWOOD LOOPZEPHYRHILLS Pasco FL 33542Joshua Cox
Kitchen Dining Area
Full Bath Half Bath
Living Room Laundry
Client
Owner
Property Address
City County State Zip Code
Page # 9 of 23
Form PICINT6_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Photograph Addendum
Faith and Joshua Cox 39676 MEADOWOOD LOOPZEPHYRHILLS Pasco FL 33542Joshua Cox
Bedroom #1 Bedroom #2
Bedroom #3 Enclosed Porch
Client
Owner
Property Address
City County State Zip Code
Page # 10 of 23
Form LPICPIX.DS%_LTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Comparable Photo Page
Faith and Joshua Cox 39676 MEADOWOOD LOOPZEPHYRHILLS Pasco FL 33542Joshua Cox
Comparable 1
Prox. to Subject
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
5122 19TH ST1.29 MILES NW132,0001,328632ZephyrhillsResidential6,006 sfGood33
Comparable 2
Prox. to Subject
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
5024 20TH ST1.17 MILES NW200,0001,404632ZephyrhillsResidential19,733 sfGood19
Comparable 3
Prox. to Subject
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
4330 5TH ST1.31 MILES W159,9001,512632ZephyrhillsResidential15,578 sfGood22
Client
Owner
Property Address
City County State Zip Code
Page # 11 of 23
Form PICPIX.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Comparable Photo Page
Faith and Joshua Cox 39676 MEADOWOOD LOOPZEPHYRHILLS Pasco FL 33542Joshua Cox
Comparable 4
Prox. to Subject
Sale Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
5636 CYPRESS ST1.69 MILES N162,0001,479632ZephyrhillsResidential10,925 sfGood27
Comparable 5
Prox. to Subject
Sale Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
39628 MEADOWOOD LOOP0.07 MILES NW85,0001,040631ZephyrhillsResidential8,030 sfGood39
Prox. to Subject
Sale Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
Client
Owner
Property Address
City County State Zip Code
Page # 12 of 23
Form MAP_LT.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Location Map
Faith and Joshua Cox 39676 MEADOWOOD LOOPZEPHYRHILLS Pasco FL 33542Joshua Cox
Client
Owner
Property Address
City County State Zip Code
Page # 13 of 23
Parcel Map
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Page # 14 of 23
Form SKT.BLDSKI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Building Sketch
Faith and Joshua Cox 39676 MEADOWOOD LOOPZEPHYRHILLS Pasco FL 33542Joshua Cox
Client
Owner
Property Address
City County State Zip Code
Page # 15 of 23
R-2 Zoning District - Page 1
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Page # 16 of 23
R-2 Zoning District - Page 2
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Page # 17 of 23
R-2 Zoning District - Page 3
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Page # 18 of 23
2018-239Assumptions & Limiting Conditions39676 MEADOWOOD LOOP ZEPHYRHILLS FL 33542
Faith and Joshua Cox 39676 Meadowood Loop, Zephyrhills, FL 33542Nicholas E Caldarelli 23949 Forest View Drive, Land O Lakes, FL 34639
STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS- The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes that the title is good
and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership.
- The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements, and any such sketch is included only to assist the reader
of the report in visualizing the property and understanding the appraiser's determination of its size. Unless otherwise indicated, a Land Survey was not performed.
- If so indicated, the appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted
in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees,
express or implied, regarding this determination.
- The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been
made beforehand.
- If the cost approach is included in this appraisal, and the appraiser has estimated the value of the land in the cost approach at its highest and best use, and the improvements at their
contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. Unless
otherwise specifically indicated, the cost approach value is not an insurance value, and should not be used as such.
- The appraiser has noted in the appraisal report any adverse conditions (including, but not limited to, needed repairs, depreciation, the presence of hazardous wastes, toxic substances,
etc.) observed during the inspection of the subject property, or that he or she became aware of during the normal research involved in performing the appraisal.
Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property, or adverse environmental conditions
(including, but not limited to, the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no
such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that
do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental
hazards, the appraisal report must not be considered as an environmental assessment of the property.
- The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes
them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other parties.
- The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice, and any applicable
federal, state or local laws.
- If this appraisal is indicated as subject to satisfactory completion, repairs, or alterations, the appraiser has based his or her appraisal report and valuation conclusion on the
assumption that completion of the improvements will be performed in a workmanlike manner.
- An appraiser's client is the party (or parties) who engage an appraiser in a specific assignment. Any other party acquiring this report from the client does not become a party to the
appraiser-client relationship. Any persons receiving this appraisal report because of disclosure requirements applicable to the appraiser's client do not become intended users of
this report unless specifically identified by the client at the time of the assignment.
- The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public, through advertising, public relations,
news, sales, or by means of any other media, or by its inclusion in a private or public database.
- An appraisal of real property is not a 'home inspection' and should not be construed as such. As part of the valuation process, the appraiser performs a non-invasive visual inventory
that is not intended to reveal defects or detrimental conditions that are not readily apparent. The presence of such conditions or defects could adversely affect the
appraiser's opinion of value. Clients with concerns about such potential negative factors are encouraged to engage the appropriate type of expert to investigate.
Form GPRES2AD_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
File No.:
Property Address: City: State: Zip Code:
Client: Address:
Appraiser: Address:
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
3/2007
Page # 19 of 23
2018-239Definitions & Scope of Work39676 MEADOWOOD LOOP ZEPHYRHILLS FL 33542
Faith and Joshua Cox 39676 Meadowood Loop, Zephyrhills, FL 33542Nicholas E Caldarelli 23949 Forest View Drive, Land O Lakes, FL 34639
DEFINITION OF MARKET VALUE *:
Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting
prudently and knowledgeably, and assuming the price is not affected by undue stimulus.
Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby:
1. Buyer and seller are typically motivated;
2. Both parties are well informed or well advised and acting in what they consider their own best interests;
3. A reasonable time is allowed for exposure in the open market;
4. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and
5. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale.
* This definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989
between July 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the
Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC
on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994.
The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credible assignment results, given the nature of the
appraisal problem, the specific requirements of the intended user(s) and the intended use of the appraisal report. Reliance upon this report, regardless of how acquired, by any party or
for any use, other than those specified in this report by the Appraiser, is prohibited. The Opinion of Value that is the conclusion of this report is credible only within the context of the
Scope of Work, Effective Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any Hypothetical Conditions and/or
Extraordinary Assumptions, and the Type of Value, as defined herein. The appraiser, appraisal firm, and related parties assume no obligation, liability, or accountability, and will not be
responsible for any unauthorized use of this report or its conclusions.
Form GPRES2AD_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
File No.:
Property Address: City: State: Zip Code:
Client: Address:
Appraiser: Address:
Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
3/2007
Page # 20 of 23
2018-239Certifications39676 MEADOWOOD LOOP ZEPHYRHILLS FL 33542
Faith and Joshua Cox 39676 Meadowood Loop, Zephyrhills, FL 33542Nicholas E Caldarelli 23949 Forest View Drive, Land O Lakes, FL 34639
APPRAISER'S CERTIFICATION
I certify that, to the best of my knowledge and belief:- The statements of fact contained in this report are true and correct.
- The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only by the reported assumptions and
limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions.
- I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved.
- I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately
preceding acceptance of this assignment.
- I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.
- My engagement in this assignment was not contingent upon developing or reporting predetermined results.
- My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of
the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.
- My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that
were in effect at the time this report was prepared.
- I did not base, either partially or completely, my analysis and/or the opinion of value in the appraisal report on the race, color, religion, sex, handicap, familial status, or
national origin of either the prospective owners or occupants of the subject property, or the present owners or occupants of the properties in the vicinity of the subject property.
- I have made a personal inspection of the property that is the subject of this report.
- State-registered Trainee Appraiser Shannon A Caldarelli Lic # RI24244 contributed to the development of this appraisal report by assisting with the research of the property records of
the subject property, researching zoning data and performing H&BU analysis, performing market analysis to ascertain market conditions and trends, researching neighborhood sales
and comparable sale selection, research of the property records for each of the selected comparable sales and data entry. Time spent was 3.5 hours.
I, Nicholas E Caldarelli, the supervisory appraiser of the registered trainee appraiser who contributed to the development or communication of this appraisal, hereby accept full and
complete responsibility for any work performed by the registered trainee appraiser named in this report as if it were my own work.
Exposure Time: I estimate a reasonable exposure time for the subject property at the expressed opinion of value to be one to three months.
Faith Cox Faith and Joshua Cox faithcox@kw.com, jcox0618@gmail.com, vgamble0928@gmail.com 39676 Meadowood Loop, Zephyrhills, FL 33542
Nicholas E CaldarelliCaldarelli Real Estate Appraisal
(813) 244-2370floridarea@verizon.net
07/07/2018Cert Res RD6538 FL
State-Certified Residential Real Estate Appraiser11/30/2018
07/03/2018
Form GPRES2AD_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
File No.:
Property Address: City: State: Zip Code:
Client: Address:
Appraiser: Address:
SIG
NA
TU
RE
S
Client Contact: Client Name:
E-Mail: Address:
APPRAISER
Appraiser Name:
Company:
Phone: Fax:
E-Mail:
Date Report Signed:
License or Certification #: State:
Designation:
Expiration Date of License or Certification:
Inspection of Subject: Interior & Exterior Exterior Only None
Date of Inspection:
SUPERVISORY APPRAISER (if required)
or CO-APPRAISER (if applicable)
Supervisory orCo-Appraiser Name:
Company:
Phone: Fax:
E-Mail:
Date Report Signed:
License or Certification #: State:
Designation:
Expiration Date of License or Certification:
Inspection of Subject: Interior & Exterior Exterior Only None
Date of Inspection:Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.
3/2007
Page # 21 of 23
In the course of performing appraisals, we may collect what is known as "nonpublic personal information" about you. This information is used to facilitate the services that we provide to you and may include the information provided to us by you directly or received by us from others with your authorization.
We do not disclose any nonpublic personal information obtained in the course of our engagement with our clients to nonaffiliated third parties, except as necessary or as required by law. By way of example, a necessary disclosure would be to our employees, and in certain situations, to unrelated third party consultants who need to know that information to assist us in providing appraisal services to you. All of our employees and any third party consultants we employ are informed that any information they see as part of an appraisal assignment is to be maintained in strict confidence within the firm.
A disclosure required by law would be a disclosure by us that is ordered by a court of competent jurisdiction with regard to a legal action to which you are a party.
We will retain records relating to professional services that we have provided to you for a reasonable time so that we are better able to assist you with your needs. In order to protect your nonpublic personal information from unauthorized access by third parties, we maintain physical, electronic and procedural safeguards that comply with our professional standards to insure the security and integrity of your information.
Please feel free to call us any time if you have any questions about the confidentiality of the information that you provide to us.
Caldarelli Real Estate Appraisal
Form PRV - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
PRIVACY NOTICE
Pursuant to the Gramm-Leach-Bliley Act of 1999, effective July 1, 2001, Appraisers, along with all
providers of personal financial services are now required by federal law to inform their clients of
the policies of the firm with regard to the privacy of client nonpublic personal information. As
professionals, we understand that your privacy is very important to you and are pleased to provide
you with this information.
Types of Nonpublic Personal Information We Collect
Parties to Whom We Disclose Information
Confidentiality and Security
Page # 22 of 23
Appraisal License
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Page # 23 of 23
Form NIV3_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Caldarelli Real Estate Appraisal
Nicholas Caldarelli
Caldarelli Real Estate Appraisal
23949 Forest View Dr
Land O Lakes, FL 34639
813-244-2370
Faith Cox
Faith Cox
39676 Meadowood Loop
Zephyrhills, FL 33542
941-807-6201
faithcox@kw.com,
2018-239
07/03/2018
***Paid In Full***
2018-239
2018-239
Faith and Joshua Cox
39676 MEADOWOOD LOOP
ZEPHYRHILLS
Pasco FL 33542
MEADOWOOD ESTATES PB 15 PG 106 LOT 28 OR 8808 PG 1051
Full Interior/Exterior Inspection 350.00
***Paid In Full*** 350.00
501 07/03/2018 Payment check received 350.00
350.00
***THANK YOU FOR YOUR BUSINESS*** 0.00
INVOICEFROM:
Telephone Number: Fax Number:
TO:
Telephone Number: Fax Number:
Alternate Number: E-Mail:
INVOICE NUMBER
DATE
REFERENCE
Internal Order #:
Client File #:
Main File # on form:
Other File # on form:
Federal Tax ID:
Employer ID:
Client:
Property Address:
City:
County: State: Zip:
Legal Description:
$
DESCRIPTION
FEES AMOUNT
SUBTOTAL
PAYMENTS AMOUNT
Check #: Date: Description:
Check #: Date: Description:
Check #: Date: Description:
SUBTOTAL
TOTAL DUE
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