COM 0585.001 1996-1998 - Laserfiche WebLink

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r LAND APPRAISAL REPORT File No. S2 021010 Prope~t Address Government Road_Remnant census Trect 0221.00 LENDER DISCRETIONARY USE City Nlnole .Coon Hawaii State HI L Code 6 Sale Pdee E Legs) Description See Addendum Date owner/occupant Inventure Development Ma Reference SeeAdden Modgage Amount S _ „ Sele Price 3 n/a .Date of Sele n/a Properly f8ghls Apprelaed Mortgage Type _ - _ _ Lean ehe~esLeonceaslons to be paid by seller E n/a _ ® Fee Simple Dlacount Pointe and Other Concessions R.E. TexeaE unknown .Tax Year HOA S/Mo.0.00 ? Leeaehold Paid by Seller E Lende~Cllenl RO@hriQ. RO@hrlaiWllson 6_Hara ? Condominium (HUD/VA) _ Lawrence A raise Crou waii Inc. PUD source LOCATION Urban Suburban Rursl NEIGHBORHOOD ANALYSIS rood Rvg rain poor BUILT UP ? Over 75% ? 25-75% ®Under 25% Employment Stability ? ® ? ? GROWTH RATE ? Rapid ? Stable ®Slow Convenience to Employment ? ? PROPERTY VALUES ? Increasing ? Sleble ®Declining Corrvenlence to Shopping ? ? DEMAND/SUPPLY ? Shortage ? In Balance ®Over Supply Convenience to Schools ? ® ? ? MARKETING TIME Under 3 Mos. 3-6 Mos. Over 6 Mos. Adequacy of Public Transportation ? ® ? ? PRESENT LAND USE % LAND USE CHANGE PREDOMINANT SINGLE FAMILY HOUSING Recreation Fecilllies ? ® ? ? m Single Family 1 _ Not Likely ® OCCUPANCY PRICE AGE Adequacy of Utilities ? ? 2-/ Family Likely ? Owner ® E(DDD) (yra) Property Compatibility ? ? Multl-lamlly In process ? Tenant ? 2 Law 10 Protection Irom Detrimental Cond. ? ® ? ? Commercial To: Residential Vacant (0-5%) ® 12 High 0+ Police BFire Protection ? ® ? ? Indualrisl rOm VBCant lot Vecenl (over 5%) ? Predominant General Appearance of Properties ? ? ? Vacant 8 - 2 A a Ito arkat Hole: Rate or the racial composition of the neighborhood ere not considered reliable apprelael faetora. COMMENTS: Sub 1CCt perCel is lOCated_o_n_ the makai side of Hawaii Belt Roed between Nahaku and Kaieakea Points with Ninole the nearest _ town. The vast ma~o_rit~e of land in this area was owned and/or farmed_b~Hamakua_SI>7~a_r_COmpany until_cane fields were shutdown due_to their.bankruptcy., The_aree!s_general_economy is_slo_w with land rives still declinin Market a cal of a road remnant is e:tremel limited. DimenslonsIrregular _ Topogrephy Downslo in~from_hwy snearea 12228 SF ~.286_acres per plat)comerlot No size Smaller than,typic_al tolling Classificetlon Sae Addendlllll_______ Zoning Compliance See Addendum Shape IPregUlBr__ _ HIGHEST 8 BEST USE: Present Use See Addendum Other Use Drainage NO apparent probl_ ems UTILITIES Publlt Other SITE IMPROVEMENTS Type Public Private Vlew NOmi~ai_ Oceap _ _ _ - Elecldclty ®none street Crass ? ® Landscaping Natural tropical veg cos ?none-- curb/Goner none_ ? ? Driveway None_________--_____ wafer ? catchment sidewalk none ? ? ApparentEesementa Title not reviewed-__ Sanitary Sewer ?CBSS 001 Street Lights flOne ? FEMA Flood Hazard Yes' ____Na _n_X^_____ _ Storm Sewer none Alle none FEMA'Ma one 1 1660042 C COMMENTS (Apparent adverse easements, encroachments, sDaclal assessments, slide areas, etc.): Sub eCt parcel. 1S_a_30! fOOt_Wlde_ partially~aved roadway accessed from Memelahoa Highway with a locked sate approxim_etQly_50 feet south of the remnant's northerl bounder SEE ADDENDUM The undeuigned hoe reviled three recent setae al properties moat similiar and prasimala to aubjecl and has considered Iheaa in the market analysis. the description includes a dollar adjuslmenl. collecting market reaction to Ihose items of signilicanl variation between the subject and comparable propernm. II a aipnilicant item in the comparable properly is superior lo. ar more tavorable than. the aubjecl properly, a minus adjuslmenl is made. thus reducing the indicated value of aubjecl; n a signilicanl item in the comparable is inferior lo, or less favorable Man. the aubjecl properly, a plus adjuslmenl b made,lhus Inereefinp iha Inditalad value of the subjetl _ ITEM SUBJECT COMPARABLE N0.1 COMPARABLE N0.2 COMPARABLE N0.3 _ overnment R ld Mamalahoa Highway Road Remnant Road Remnant Address.-- inole 16 TMK•._3~_5? TMKs _3?~-1_~- _ Proxtmiytosubiecl 1 Miles South 12 M11es South _ 10 Miles South Sales Price EN/A S 10 000 E 10 000 E 15.000 _ Price/ $F - - 8 __N/A_ 0. 642 8 - - _3102 a 0.4~~8~---- Datasource_ _/Ins~ectn. S//83Q86/ -0 1 MLS ~ 410/ 160801 _ MLS /f7~1/45-0_3-2_345- _ VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION - f ~d~ Iment DESCRIPTI~d-)f aepalmsnt .DESCRIPTION . - f nd'mimenl _ Sales or Financing sh Cash Cash Concessions Date of Sde/Time /14/Q~ /`L/47 j _ 12/13/4~_~=0.031. 3/4/45 - _,___-0.0.65_ Location _ inole ieie Aleamei _ _ Onomea Slle/View 12458 SF/Nmn 1 24 SF/None ~ +0.008 32234 ~ +0.011 4412 ~ +0.012_ - wy Access.- one___________±0.112_ None______ +0.062 None___________;_ ±O.O4q___ __.VQ• Utility SS~er.Utilit+~~__-0.160 Infer.Utility ~ +0.0~ Ayg.- Uti_lit~_~__ - Net_Ad. tota~______,_ ~ - .S 0.040 + - 'E 0.12 ~ - ;E_ _-0.009 Indicated Value otsub ecl 0. 24 0.442 0.42 comments ofsaleacomperieon: The comperables used in this ana]_.ysis are. the most recent road remnant sales in the general Hilo area. Coco rabies 2 and 3 have been adjusted downward for time as land. values have declined since their sellin date. SEE ADDENDUM... CommenlsendCondiSonsolApprelsal: IL has been assumed that the surveyors map and description pr__o__vided by the client is accurate. FInal Reconcmanon The Sales Comparison Approach has been given sole consideration as it is the_most_ a ro riate method for the valuation of individual vacant lots. The Cost_end Income_~proaches - would not normall~_be_used by the typical appraiser working on vacant lots in this area..,.. - I (WE) ESTMATE T!E MAPofET VALUE. AS DEFR®, OF suBJECr PROPERrr As of September 14~_ te9~_ robe S _.-5~ 600 _ I We) ceril that b the best of m ) knowled e e the tads and date used herein ere true and correct: Ihet I we Dersonall and Inspected all comparehle s yelled In t i g d I (we) have noun Plpclosed Interest, p- prospective therein. y Inspected the sub)ecl properly Appraiser(s) SIGNATU Review A relser.SIGNATURE _ _ ®Did ? Did Nal NAME ~ U e H. Hart (if applicable) NAME Robert L8~, SRPA Inspect Property Proprietary Land Form 04/88 rM ram s.~m a, rk m.,„, rn... i „.,rams+~-• ~eon~ rr.-wen CRA pfi07, HI CGA pt94, HI Suzanne H. Hart