RES 053 Draft 01 2006-2008 - Laserfiche WebLink

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Mlle No.~Y~ti-tl w(por.6_ Page #2 LAND APPflA1SAL REPORT Shmtaku File Na. 9.6-B wl or.6 Bortower NIA Census Tract 0212.00 _ Map Reference 9-6.8 por.6_ ProDenY Address Poe Grant 6267:B South Road City Pahala Coumy Hawaii _ Sute HI___, _ Zip Coee 96777 _ _ Legal Description Por. Grant 8267:6 Wood Valley Kau _ Sale Pnce $ Oate of Sale Laan Terre yrs. Prpperry flights Appraised j Fee I ~ Leasehold De Minimis PUD AcNal Real Esute Taxes $ (yr) Laan charges to he paid by seller E --Omer sales concessions _ _ _ _ _ _ LerMer/Client Nakamoto Okamoto & Yamamoto Address 167 Kaplolanl StreeyHib~ HI 96720 _ _ OccuDam NIA Appraiser PaMek Y. Takata. SRA Inswctlans to Appraiser- _ _ _ Locatlon Urban Subuman ~ ~ quml Good Avg. Fair Poor Built Up Over 75% ~ 25%to 75% Under 25% Employment Stability ~ Growth gate ? Fully Dev. ? Rapid ®Sleatly ? Slow Convenience tp Employment _ 2C Property Values ? IncreaslnA ~ Stable ? Declining Convenience to Shopping ~ Demand/Supply ?Shgrtage ~I In Balance [ Oversupply Convenience to Schools I ' Marketing Time ?Under3 Mos. ~4~6 MOS. [_~Over6 Mos. Adequacy of Puhlic Transpanation ~i iX, Presem Lend Use 70%1Famlly _%2~4 family - %Apis. %Cando _%Cammercial Recreational Faclities ~i _%Indusirlal %Vacant 30% VeCant Sites Adequacy of Ufilitles i ? ~I ~ Change in Present Land Use ®Not Likely ? Likely ? Taking Place Property Compatibility [ I ' From To Protection tram Owdmental Conditions ly', -I. Predominant Occupancy ~ Owner ? Tenant %Vacant Police and Fire Protection p'~ ' Single Family Price pange $ 226.000 to Y 800 000 Predominant Value $ 375.000 General Appearance pf Progenies ~I Y ' Single Family Ape 1 yrs. tc 75 yrs. Predominant Age _ 30 yrs. Appeal tp Market j i (xl ~ _ I Comments ixluding moss tacrors, tavpreble or unlavomhle, attecting marketability (e.g. public parks, schools, view, ngise): This IS en agricultural zoned neighborhood In Wood Valley consisting predominantly larger acreage sites. Nelnhbor_hood boundaries are Nealehu _ _ _ Town to the northeast. the Pacific Ocean to the south and South Kona Forest to the west Dimensions Irregular -See Mao = 116 265 SF Sq. Ft. or Acres i Corner Lot Zaninq classification A20-A Agricultural J Present Improvements [_~do ; tlo not conform to zoning regulations Highest and hest use ~ Present use Omer s ecH Public Other (Oescdhe) OFf SITE IMPROVEMENTS TOpo Blight Slope _ _ Elea ~I Street Access ®Public ] ] Pdvate Size Typical for neighborhgod _ Gas ? Surface Asphalt (Shape Rectangular _ Water ? Private Maintenance ®Public ? Private View Mountain _ San. Sewer ? ? Storm Sewer ? CumlGutter I, Drainage Adequate-to lot line _ _ _ _ ? Underground El¢d.BTel. Sidewalk _]SheetL~his tithe property locged lee HUDlhntlged $pedel Flood HenM Aree7 ~INo' )Yee Commenk OavorahleauniavoraGe indudn0 any epparem atlvene easements, encrmchmenta,aomer adverse candaons)'. eFIOOd Insurance Rate Map 9_16.88. Community Panel No. 166166-1625C Zone X. There are no easements or apparent adverse conditions on sublect site (Sea Addendum) There Is a single family dwelling consisting of 1.280 square feet living area built in 1977 anA attached ca ort which was not valued see addendum The undersipnetl has redled Uree recem sales of prppeNes moll aimihr and proximate to Subject and has considered Uese in Ue market analysis. The tlesctlDlion includes a dollar adlusaneni reeecenp market reacean to Uose Hems of sfAnificanl vadaaon between Ue subka and comparable prapemes. h a slpnibcanl Item in Ue comparable property is superior to ar more huwable man me sublect Draperty, a minus adushnem is made Uus redudnA Ue IntlicaUd value m sublecf, it a significant Item in Ue comparable is inferior la or less lavorehle man the sublect pmperry, a plus adjustment is made thus increasing me indicated value of the suhject. ITEM SUBJECT PROPERN COMPARABLE N0.7 COMPARABLE N0.2 __COMPARABLE N03 _ AOdrass Por. Grant 6267:B So Road Lot 4 Kamaoa Road Por. Gr. 2158 Wootl Valley Por.LCAW 8462:17 Kamaoa 9-64f-2 to ether wl or.6 94-3-48 9.6.10-5 Road 9dd-17 Road Prgum ro sue ct 18 Miles 1l2 Mile 20 Miles Saks Pdce 140 000 _ 26D 000 3__ 19$,000 Price $ 3.21 $ 1.54_ _ _ _ _ 2.24_ Data SOmce Ins Tax OTTice MLS lax Ofllce MLS Tax Office M_LS Tax Office Gate of Sale and DESCRIPTION DESCRIPTION AdL DESCRIPTION 1$AAiust __DESCFIPTION._~_+j-)$Agjust Time AGlusiment 2106-6davs ~ 5/05.189da s , __y~ 11105-5days Location Kau Kau ~ Kau _ Kau Sd few 116 266 SF / Mtn 43 567 BF / Mtn : +108 100 168 677 SF / Mtn : -52,300 111120 BF / Mtn_ _ _ +43,700 Utilities Power Water Power Water~_ Power Water Power Water__. Sa4es w Financing None/ Deed Nonel Deed Nonel Dead Concessions CeBh _ ~I PMM DP=526000 PMM OP-46000"_ Net Ad. otal + - 109 100 - + - $_62 300 - + ' ' - $ _ _ 43,700 Indicated Value of Suhpci ~ -'lRel -77.9 % 249100 Net 20.1 % 207 700 Nat 22.4 % 236 700 Commer4s on Market Oata. Comparebles No. 1 and 3 are not as comparable to sublaet roe _as ComParabl_e_No. 2_ which is similar In location and site area. Therefore. the greatest weight Is given to Comparable No_ 2.__-_ Commems and CondHlons of Appraisal: Sub act roparty Is not currently listed for sale In MLS_There was no sales histgry of _suJeet property during the past 3 wars. The Income Approach was not applicable due to the lack of com~aarable sales with verified rental data- The Cost _ _ Approach was not applicable due to the lack of Improvements to be 2ppralssd as In the SpeCiflc rsguirements of_ _ _ Final geconciliation', assignment _ _ _ Greatest weight Is glyen to the Market Data Approach since the actions of buyers and sellers i~_the open market dlrsctly _ reflect market value. _ _ I E8nW1TE TNF 4URREi Y4LU , 4E OEFIeEe, Oi eyeJ¢CT PRptERTr 46 pF _ Beptember 1D,_ 20 _D6_ to b¢ $ _2US,DUD _ PaMCk,Y. Takete, S wall to Ce 1 on #93 E Date embe 07 ? DIO ~ I Dltl Not Physically Inspect Progeny A rats Review A raiser if a licahle ~Y2kl Takeg Appraisals, Inc. Form LND -'TOTAL far Windows" appraisal software by a la mode, inc. -1-800~ALAMOOE