BROKER PRICE OPINION

Size: px

Start display at page:

Download "BROKER PRICE OPINION"

Michael Harrington
6 years ago
Views:

1 BROKER PRICE OPINION Stock # 13INMARTL Parcel # Property Address: 3623 N Parker Ave City: Indianapolis State: IN Zip Code: The above premises was inspected on: 12/23/14 by: Regina Nottingham The property was: Vacant Occupied Is the exterior in good repair? Yes No Is the house & yard free from debris? Yes No Has the property been boarded, screened, or otherwise secured? Yes No Keybox Yes No Has the property been vandalized? Yes No Is there an HOA on this property? Yes No Details: The subject LOOKS to be vacant, but not positive. The exterior is surrounded with debris---and there were no cars there. Could not see inside. High crime risk in area. Low valued properties. Many are rentals or vacant. Exterior repairs needed (in order of importance) to market property. Give a "best knowledge" estimate of costs. Landscape exterior and remove debris $1500 Ext trim paint $800 Ext repairs $1000 Repair concrete driveway $850 Replace windows (Maybe 6?? Not sure about the rest) $1800 Garage repairs $750 $ $ **Interior will more than likely need repairs also** $ Color Exterior/Interior Photos Attached NEIGHBORHOOD DATA Property Values: Increasing Declining Stable Supply/Demand: Shortage Abundance Normal Marketing Time: Under 3 Months 4-6 Months Over 6 Months Price Range: (Neighborhood) High $58,000 Low $9500 Number of houses in Direct Competition with Subject: 15 Number of sales in the past 6 months: 7 Appraisal/Room count provided by lender: Yes No SUBJECT PROPERTY Address Style Age SQ FT # Rms # BRs # Baths Gar/CP List Price List Date Fin Terms 3623 N Parker Ave Bungalow d NA NA TBD CURRENT HOMES FOR SALE Competitive Listings Style Age SQ FT # Rms # BRs # Baths Gar/CP List Price List Date Days on Market 3326 Sherman Dr Bungalow CP 30,000 7/25/ mi 3738 Olney St Bungalow ,800 11/01/ mi 3622 E 34 th St Bungalow D 18,000 6/19/ mi 1 Prox to Subject

2 CLOSED PROPERTIES Competitive Sales Style Age SQ FT # Rms # BRs # Baths Gar/ List Price CP Sale Price Date Closed Days on Market 3152 Temple Bungalow ,000 17,000 11/25/ mi 3714 Station Bungalow ,900 14,100 11/26/ mi 3606 Lasalle St Bungalow D 12,000 12,000 10/31/ mi Please supply comps even if distance is a factor. Explain any absence of available comps, i.e., no sales, etc.: Prox to Subject PROPERTY VALUES For Ninety (90) Day Market Period: As Is Condition: $13,000 Repaired: $29,900 For Thirty (30) Day Market Period: Quick Sale: $12,000 Recommended List Price: $15,500 MARKETABILITY What current market conditions will affect the sale of the home? Available financing? Winter season in Indianapolis. Tends to slow sales and increase the Days on Market. Most likely will not pass for financing. And surrounding comps will be low for any appraisal. Needs to be a cash investor purchase. What are the positives/negatives of the property? The subject has more sf than most of the other properties in the immediate area. How do the comps that were used compare to the subject? Very similar. Many to choose from in the urban area of East Indianapolis. Many low valued investment properties. Note specific items that could be a potential problem: Will need repairs and updates by the look of the exterior. Will need the debris removed to prevent Board of Health violations if it is confirmed vacant. 2

3 Checklist of Damages Is there any vandalism?: Yes No If yes, Where? Broken back window Is there any graffiti?: Yes No If yes, Where? Is there any damage that appears to be caused by an act of nature?: Yes No If yes, Where? Are there any broken windows?: Yes No If yes, Where? One noted on the back of the house. Are there any broken doors?: Yes No If yes, Where? Does anything appear to be missing? (i.e., HVAC, door knobs, fencing) : Yes No If yes, Where? What is the condition and approx. age of roof?: Yes No If yes, Where? Maybe around 15 years old?? Is this home boarded? : Yes No If yes, Where? Just a back window was noted. 3

4 Digital Photo Addendum 4

5 Comparable Properties 5

6 Case #: Today s Date: 12/22/2014 Full Address: 3623 N Parker Ave Indianapolis IN Inspector/Appraiser: Regina Nottingham Reason taken: Drive-by BPO 3623 Parker. Address Verification Street view Front Left side Street Right side 1

7 Case #: Today s Date: 12/22/2014 Full Address: 3623 N Parker Ave Indianapolis IN Inspector/Appraiser: Regina Nottingham Reason taken: Drive-by BPO Some peeling paint and ext damages 1 car detached. Lots of debris More trash Back. Window is boarded Concrete driveway has a few cracks Active 1 2

8 Case #: Today s Date: 12/22/2014 Full Address: 3623 N Parker Ave Indianapolis IN Inspector/Appraiser: Regina Nottingham Reason taken: Drive-by BPO Active 2 Active 3 Sold 1 Sold 2 Sold 3 3

BROKER PRICE OPINION

BROKER PRICE OPINION Stock #: LOAN #: MCK300059 Property Address: 1607 N 10 th Street (St. Louis Ave) City: Paducah State: KY Zip Code: 42001 The above premises was inspected on: 12/16/2014 by: Chris Fulton