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Nathan Lilly
  • Real Estate Agent
  • Jackson, TN
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How smart are you as an investor?

Nathan Lilly
  • Real Estate Agent
  • Jackson, TN
Posted Jul 18 2018, 11:26
Suppose you have a subject property with a 105,000 sq. ft. lot and existing improvements for which you estimate the reproduction cost new to be $2,500,000, physical deterioration to be $400,000, functional obsolescence to be $50,000, and external obsolescence to be $50,000. If you have information on a comparable lot of 110,000 sq. ft. which recently sold for $250,000 and the only adjustment is $1.75 per sq. ft. for the difference in lot size, what is the indicated total value for the subject property.