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2010 05-03 CCP Board of Appeal & Equalization Reconvene
2010 Brooklyn Center Local Board of Appeal and Equalization Reconvene Meeting Agenda: 1. Meeting called to order, roll call. (6:00 p.m.) 2. Local Board of Appeal and Equalization (LBAE) Certification Form. 3. The Assessor's Report on: Cel Monton LLC 5857 Colfax Ave N. PID # 01- 118 -21 -24 -0017 RiFive Investments LLC 6014 Girard Ave N. PID # 01- 118 -21 -22 -0071 Cel Monton LLC 5640 Fremont Ave N. PID # 01- 118 -21 -32 -0117 RiFive Investments LLC 5739 James Ave N. PID # 02- 118 -21 -14 -0033 RiFive Investments LLC 5542 Irving Ave N. PID # 02- 118 -21-41 -0021 Cel Monton LLC 5443 Irving Ave N. PID # 02- 118 -21-44 -0081 Cel Monton LLC 5351 Irving Ave N. PID # 02 -118 -21-44 -0104 Cel Monton LLC 3707 61 Ave N. PID # 03- 118 -21 -12 -0079 Cel Monton LLC 5325 70 Cir. PID # 28- 119 -21-43 -0090 Cel Monton LLC 1 5418 70" Cir. PID # 28- 119 -21-43 -0108 Cel Monton LLC 7030 Regent Ave N. PID # 28- 119 -21-44 -0057 Cel Monton LLC 6601 Unity Ave N. PID # 33- 119 -21 -13 -0077 Cel Monton LLC 6413 June Ave N. PID # 34- 119 -21 -32 -0097 Cel Monton LLC 6114 Dupont Ave N. PID # 36- 119 -21 -34 -0036 4. Adjourn 2 4 f Apt- 09 2010 1:00PM HP LRSERJET FRx p.4 CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19, 2010 through April 9, 2010 You must return this application by April 9, 2010, to be placed on the Agenda for the Local Board of Appeal and Equalization held April 19, 2010 at 7:00 P.M. Name Daytime Contact Number Property Address . _�'�7 �I�C 1�ly Property Identification Number 7 Assessor's 2010 Estimated Market Value Is your property residential, commercial or multi - family? If you $m appealing a commercial, multi -famUy or residential rental property you must Include Income and expense data for calendar year 2009 with your application. What is the reason you are appealing your 2010 assessment? / e4_1 / SC e b .,r /.� f �ir✓r•: c:nJ - t7 P��, ^ �.a - r7" /�'b bW� L -A ( r ►M■ �+ C 0 r r s? t c+ v P e ,,t When did you purchase your home? Date of Purchase / —/ Purchase Price Did you purchase your property from a bank, as a foreclosure or short sale? Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. Have you had a recent appraisal for refinancing, purchase or a market analysis by a real estate agent completed within the last year? es r No If so, what was the determination of value? vs v-41- 75X4 i .4� /t 4.1-. 10._ What do you think the market value of your property should be? /0 s Please provide any documentation supporting your claim of overvaluation or erroneous classification with this application. In order to appeal your valuation are appointment to view the property will be required r' Rpr 09 2010 1:00PM HP LRSERJET FRX p. Compar M Ana lysis Friday. April 9.2010 Summary of Comparable Listings This page summarizes the comparable Ilsttngs contained In this market analysis. Sold Listings Address Price Olds 8th TFSF $fSq OUR Stpe told Veto DONI COOM S■ 5350 James Avenue 583,000 5 2 2053 $40 1954 ONEST 08121/2009 8 187 5524 Dupont Avenue $26,000 1 1 491 $51 1947 ONEST 06/14/2009 23 39 5851 Girard Avenue $25,000 1 1 764 $33 1960 ON 00/16/2000 136 319 5327 Colfax Avenue $37,000 2 1 850 $57 1941 ONEST 0712612009 BS 85 6409 Fremont Avenue 526,000 2 1 772 $38 1920 ONEST 11718/2009 112 112 5420 Emerson Avenue $42,095 4 2 1400 $30 1041 ONEST 06/12/2009 40 40 5621 Humboldt Avenue $41,000 3 1 1125 $36 1953 ONEST 07/2012009 41 230 5828 Fremont Avenue $55,000 3 1 1095 $50 1950 ONEST 01/2212010 28 26 5637 Irving Avenue $75,D00 3 1 976 $77 1955 ONEST 09/18/2009 41 41 5838 James Avenue $59,900 2 1 988 $61 1954 ONEST 08129/2009 11 11 5701 Emerson Avenue $85,000 4 2 1504 $43 1952 ONEST 0811812009 12 12 5819 Knox Avenue $55,D00 3 2 1625 $34 1955 ONEST 09/06/2009 42 144 5408 Colfax Avenue $68,000 3 1 1040 $85 1958 ONEST D71D1/2009 4 4 5537 Camden Avenue $84,000 3 1 1088 $79 1957 ONEST 08118/2009 81 350 5425 Humboldt Avenue $65,000 4 1 1630 $40 1955 ONEST 10/30/2009 14 14 1208 57Th Avenue $82,817 3 2 1462 $43 1953 ONEST D723/2009 21 205 5508 Fremont Avenue $80,000 3 2 1500 $50 1958 ONEST 08/20/2009 42 42 5800 Irving Avenue $74,900 2 1 1383 $54 1955 ONEST 02/2512010 2 2 5712 Coftx Avenue $86,300 3 1 912 $95 1956 ONEST 11/17/2009 7 7 5413 Logan Avenue $79,900 3 2 1730 $4e 1954 ONEST DBW12009 00 80 5431 Irving Avenue $88,500 3 2 1405 $83 1905 ONEST 03/0912010 11 34 5410 Girard Avenue $105,000 3 1 Iles $88 1932 ONEST 02M12D70 7 7 5835 Aidrloh Avenue $106,000 4 2 1785 $59 1931 ONEST 1125/2009 40 230 5643 Emerson Avenue $115,000 2 2 1290 $89 1961 ONEST 09/3012009 3 3 5344 James Avenue $92,500 3 1 1812 $67 1954 ONEST 08103/2010 63 110 5707 Girard Avenue $108,000 3 2 1778 $60 1962 ONEST 02/2512010 11 385 5401 James Avenue $97,440 2 2 1300 $75 1054 ON98T 07/2312009 48 48 5350 Knox Avenue $100,000 3 1 1 i100,00( 1954 ONEST 11/17/2009 100 100 5328 Emerson Avenue S109,1300 2 1 936 $116 1938 ONEST 10/23/2009 191 547 5828 Fremont Avenue $55,000 3 1 1095 S50 1950 ONEST 02/0212010 3 5626 Logan Avenue $107,500 2 1 775 $139 1951 ONEST 03/182010 18 84 5840 Knox Avenue $112,000 2 2 946 $119 1950 ONEST 02126/2010 57 57 583D Fremont Avenue $122,000 3 2 1809 $85 1955 ONEST 121M12009 19 19 5831 Dupont Avenue $110,000 3 1 1128 $98 1956 ONEST 07130/2009 22 196 1208 57Th Avenue $120,000 3 2 1462 $82 1953 ONEST D3101/2010 39 39 5449 Colfax Avenue $122,450 3 2 1874 $65 1935 ONEST 011122010 468 188 5419 Irving Avenue $127,425 3 1 1876 $68 1955 ONEST 11113/2009 28 28 5320 Colfax Avenue $117,000 3 1 1414 $83 1947 ONEST 12I302D09 36 38 6615 Bryant Avenue $131,000 3 1 1491 $88 1955 ONEST 12282009 58 50 5909 N Emerson Avenue $138,000 2 2 1105 $125 1850 ONEST 09/30/2009 177 177 Averapee: $84,338 1,8 1,4 1265 52495 1900 47 toe M�'ga 1111 'R.pr 09 2010 1:01PM HP LRSERJET FAX P.6 CEL Monton, LLC Profit & Loss $857 COLFAX Jan - Dec 09 Ordinary Income/Expense Income 4100 - Rental Income 7,D39.00 I 4200 • Fee Income 4280 - Application Fees 35.00 Total 42DO - Fee Income 35.00 Totallncorns 7,074.00 Expense 5100•Insurance 6110 • Property Insurance 536.41 Total 6100- Insurance 536.41 5200 • Inter"t Expense 5220 - Loan Interest 4,31115 Total 62DO - Interest Expense 4,311.65 5300 • Repairs 5310 • Building Repairs 2,012.19 5300 • Repalre - Other 2,146.75 Total 5300 - Repairs 4,161.94 5400 • Utilities $420 - Water 185.10 Total 5400 • Utilities; 166.10 5000 - MATERIALS 2,765.20 5200 -Texas 6450 • Property Taxes 2,214,03 Total 8200 • Texas 2,214.03 7010 - Bank Service Charger 4.00 7040 • Lieonsaa an P 900. d Permits 00 7050 - Miscellaneous 74.61 7055 - Cndlt/Crlminal checks 84.00 7080 - Property Malntsnence 739.25 7091 • Cleaning Expense 178.00 Total expense 16,133.19 Net Ordinary Income - 9.059.19 Not Income ➢,05a,1D j Pipe 1 Review Of 5857 Colfax Ave N PID# 01 118 2124 0017 For Cel Monton LLC 2010 Board of Appeal and Equalization w r x r City of Brooklyn Center A Millennium Community T0: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID# 01- 118 -21 -24 -0017 Cel Monton LLC 5857 Colfax Ave N Brooklyn Center, MN 55430 A representative of Edlich Realty contacted the 2010 Local Board of Appeal and Equalization regarding the 2010 estimated market value of the property located at 5857 Colfax Avenue North by telephone on April 8, 2010. This property has a 2010 estimated market value of $122,800. The board directed Mr. Edlich to schedule an appointment for an interior review with the Assessor's office. An interior review of the property was completed on April 21, 2010, with Mr. Doug Wahl. The property is a 1,092 sq. ft. rambler with a one car attached garage, in good condition. The main level f m kitchen three bedrooms and one e o the home includes a living room dining room, g g , full bathroom. The kitchen has updated cupboards, countertop and Pergo floors, and the bathroom includes some updating. This property has a gas forced air furnace, central air conditioning and a patio. The appraiser was not able to complete an interior inspection during the last quintile review in 2009. After reviewing the interior of the property, changes were made in the physical characteristics of the basement finish to increase the overall quality and percentage of basement area finished. The basement finish has sheetrock interior walls with additional tongue and groove wainscoting, sprayed ceilings, recessed lights, and a painted concrete floor. The basement finish includes a family room and one other room, and encompasses 75% of the basement square footage. The basement has no egress windows. A prior basement toilet stool was removed, and changed to roughed -in plumbing for a future bath. After updating the characteristic changes, the property calculated an estimated market value of $127,900. As requested, Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was provided to the council in the initial appeal packet from the owner. Three actual documents were provided to the Assessor's office with actual rent figures of $1,250, $1,200 and a total income of $7,039. Due to discrepancies in the numbers, the higher amount was used as 2009 rent. Additional comments indicated rents were decreasing as owners renew yearly leases. The subject property was purchased in January^2009, the rental license was not issued until May 13, 2009, it is assumed that the original lease amount is currently in place at a rent of $1,250. In discussion with the Assessor Mr. Wahl indicated that the tenants were responsible for all utilities, maintaining the yard, and snow removal. Due to the lack of itemization of typical expenses, missing operational expenses and deducted expenses that are obligations of the 6301 Shingle Creek Parkway Recreation and Community Center Phone & TDD Number Brooklyn Center, MN 55430 -2199 (763) 569 -3400 City Hall & TDD Number (763) 569 -3300 FAX (763) 569 -3434 FAX (763) 569 -3494 www.cityofbrooklyncenter.org tenant, the owner's documentation was reviewed, but not felt reliable for use in calculating the income approach. As the majority of single family residential properties in Brooklyn Center are owner occupied, more weight is given to the sales comparable approach rather than the income approach. A market derived income approach of a single family rental property has been included with this report. Mr. Edlich provided a comparative market analysis listing of comparable homes in Brooklyn Center with the initial appeal application for the subject property. A copy of this list was included with this report, as rejection codes and open market sales were noted. The comparative listing provided indicated only three open market sales within the sale study period. The open market sales were; 5843 Emerson Ave N. — Sold 9/30/2009 for $115,000, 5831 Dupont Ave N. — Sold 07/30/2009 for $110 and 5909 Emerson Ave N. — 09/30/2009 for $138,000. All other sales listed were rejected for the state sales ratio study. The enclosed sales rid completed g p eted by the Assessor's office compares the subject property t o P three similar rambler homes that have sold during the study period in Brooklyn Center. The sales chosen are adjusted to be comparable to the subject property. The subject property lists an adjusted total from the CAMA system of $126,938. However, an additional $1,000 flat charge is added for a basement rough -in bathroom, for a total estimated market value of $127,900. The enclosed comparable sales grid indicates a range of value for the subject property from $127,406 to $138,889. II I It is the Assessor's recommendation to adjust the 2010 estimated market value from $122,800 to $127,900, for taxes payable in 2011. Respectfully submitted, Nancy Wo) ik, SAMA City Assessor I� SUBJECT PROPERTY 5857 Colfax Ave N Cel Monton LLC PI D# 01- 118 -21 -24 -0017 Land Characteristics Land Area 10,050 sq. ft. Building Characteristics Style: Rambler 1,092 sq. ft. Main Level Room Count: 6 / 3/ 1 Full Bath Below Grade Room Count: 2 / 0 Bd / 0 Bath Garage: 1 Car Attached Fireplace: 0 Porches /Decks /Misc.: Patio Central Air Conditioning: CAC Report Name: Images City of Brooklyn Center Printed: 04/28/2010 PID: 01- 118 -21 -24 -0017 Page: 1 Property Images I i r i f I I E; a E $r I i Report Name: Taxpayer Inquiry Printed: 4/15/20 10 City of Brooklyn Center Taxpayer Inquiry Page: l Display PID Mouse Nbr Street Name ER Zip Code 01- 118 -21 -24 -0017 5857 Colfax Ave N 55430 Last Name First Name M1 Owner Taxpayer Resident Cel Monton LLC Y Y N Frontage Left Side Rear Side Right Side EIL Width EM Deoth Property Area Acreafe Zoning P/S Exempt Code School Dist Watershed Yr Buil 0 0 0 0 75 134 10,050 0.00 RI 0286 15 1954 Year Ver #Subs Land Value Bldg Value Mach Value Tot Mkt Value Tax Can Hmstd Midyr Rel H // %Own P/C 2010 1 1 47,000 75,800 0 122,800 1,228 N N N R 0 N 2009 1 1 58,900 83,500 0 142,400 1,424 N N N R 0 N 2008 1 1 60,900 107,300 0 168,200 1,682 Y N N R 100 N Lot: 001 Block: 000 Addition: Franzen's Addition 4� LOGIS - Property Data System - City of Brooklyn Center -Files on BC Server> <C:XProgram File01_ogJsWDS_jGs>, �i Kitt Property ID House# Street Narne Unit 1 -Photo(s) on file Today's date: 04r2MO10 1 Sketch(es) on file Release: 1.07.041 f 01-118-21 Address: 5857 cc irax e N Assessor Comments on file Logged on user: KCASTO 21 3_.�,� fAssessina -Karen Casto fPDS Single PID 1 Parcel Search 2 Clear 3 Print 4 View Photos Parcel Status: ACTIVE Assessot Inquiry J C Inquiry Taxpayer Inqury Values Administration Values` Information Assessment 2010, ManualAssessment f ManualLand f Hennepin County T i at Homestead Update - Building Land I Summary ' Last Appraised Year L Quality:. Style: LMV Update Dwelling Type: Single Family y B07 One Level/Rambler Tan Capacities Updab� Total GBA; 1092 Age: 25 honing: R1 Value Notice File � S � Sales Administration ; ;_: Basic Rate: $49.08 Sales Information Adjusted Rate: $49 57 ' - - >' Ext. Wall %: 1.0 dj 0.0 Shape X 16 Sales Ratios Comparables lnFormaG, Adj. Rate " GBA: $541301 > Add Basement: $9,600 = 960 SgFt @ Paw ` MinMax Codes Ded. Unf.GBA: $0 = 0 SgFt @ $30.00 Price /T ime Adjustmen j Weight Pa rametets Adjusted Total: $63730: Comparables Batch U C Property Charactorishcs AdditiveAmount ;$7,329 - - => Garage $4.032 Dormers: $0 Patio Doprs: $0 Land inspections �tlalkoub,.$0 Air Cond: $2184 Decks: $0 Residential Patios: $429 Porches: $0 Pools: $0 Commercial I Industna�( Multi -Family Baths $5,500 Fireplaces $0 Fin.Bsmt: $5,184 Field Card Print. ' Total C ost: $81 A59 ." Kitchen: $0 C =3 CAMA' CAMA Inquiry Adjustments %�:'' 7.C1 - = - >' pepreciatioti °�: do 7.0 Influences X Market Value Resider Market Value Commer Functional-�i 0.0 Economic �: 0.0 Market Value Multi -Fa Rate,Tables Land Building Value $75,300 CAMA Bldg. Mkt. Value: $75,800 Rate Tables - 'Resider CAMA Land_ Flat Values: $500 Land Mkt. Value: $47.000 CAMA - Residential Total Mkt. Value: $122,800 ( +1 " d CCP,SCmRYti Prniprt z 'I N- E 1 GIS - Property 1. Brooklyn on C C Server> <C:XProgram FitesXLogisTDS ■ Property ID House# Street Name Unit 6 Photo(s) on file Today's date: 0403P.010 1 Sketch(es) on file Release: 1 .07.041 01-118-21 Address: 5857 Coax Ave t _ Assessor Comments on file Logged on user: KCASTO Single PID fAssessina -Karen Casto fPDS 1 Parcel Search 2 Clear 3 Print 4 View Photos Parcel Status: ACTIVE M; Q " a Parcel Administration CAMA Inquiry Parcel I nformotion I � Assessor Comments Parcel Divisioning Assessment Year 2070 :' Manual Assessment ManualLanct` Temporary PID Updat, Assessor Project Updi .; Building ;Land Summary Assessor Inquiry' : ----�- Taxpayer Inquiry I . Dwelling Type: Single Family Quality:' BQ7' Style: One level /Rambler E -EJ Values Administration Total GBA: " 1092 Age. 25 Zoning: R1 Values Information Hennepin County Trar Basic Bate: $49.08 N Homestead Update 1 : Adjusted Rate: $49.57 - -4 Ext. Wall %s 1.0 0.0 Shape, /: Last Appraised Year L i LMV Update I Adj. Rate"GBA: $54,130 - - > Add Basement: I 59.600 r 960 5gFt @ 1$10.00 Tax Capacities UpdaG ,, yhs Dad. Unf.GBA: $0 F0 SgFt @ $30.00 Value Notice File l i LJ " Sales Administration Adjusted Toth; Sales Information �i Sales Ratios q Additive Amount $22.225 -> Garage• $4.032 Dormers 0 Patio Doors: $Q Comparable; Informakil; N MinMax Codes Walkout ` i0 Air Cond: $2,184 Decks: $0 Price /Time Adiustmen Patios: $429 Porches: $0 Fools: to Weight Parameters Comparables Batch U' Baths:0 Fireplaces: '�$0 Fin. Bsmt: $10.080 G7 "a Property Characteristics Total Cost: $85.95 Kitchen: $Q Land Inspection Adjustments.i : 7.0 - 4 Depreciation is :7.[l Influences X 010 " Residential Commercial/ Industri� a Functional _0.fl Economic %: X1:0 Multi - Family Field Car Print B d ildin Value:' Mo Bl u g LAMA dg. Mkt. Value: $80."300 t =1 ' CAMA " LAMA Inquiry Flat Values: 51,(100 Land Mkt, Value: $47,000 " Market Value Resider Total Mkt. Value: - $1 �. Market V�1rr�, Cnmmpr�l - - I City of Brooklyn Center PID: 01- 118 -21 -24 -0017 Property Type: R - Residential Value Info: Residential Field Card Property Address: 5857 Colfax Ave N Zoning: R1 Year/Version: 20101 1 Printed: 04/23/2010 Lot / Block: 001/000 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Franzen's Addition Owner(s): Cel Monton LLC Bldg: 75,800 Version: 1 District: Total: 122,800 Neighborhood: 0054 �¢ it s 1 1 0, Totafi 3rd Flcsr►r P `' ".�w: 4zai w : " "': E...•..... t� ., �i .. ..: w'm._ ..,..�c.....«.?� Model Garage #a Area (SgFt): 960 Kitchen Rtg: Very Good Interior: Interior: Res. Cond: Good Placement: Attached Type: Regular Interior: Plaster Trim: Trim: Dwell Type: Single Family # of Cars: 1 Finished ( %): 75 Trim: Hardwood Floor: Floor: Int. Layout: Standard Floor Area: 240 Quality: Very Good Floor: Wood Avg. Clear. Height: Avg. Clear. Height: Adjacent Property: Equal Condition: Average # of Fireplaces: Avg. Clear. Height: # of Fireplaces: # of Fireplaces: Manual Assess: N Exterior Walls: Wood Fplc. Quality: # of Fireplaces: Fplc. Quality: Fplc. Quality: View: Equal Avg. Clear. Height: Fplc. Quality: Actual Age: 1954 Elec. Svc: Standard Arch /Appeal: Average Htg: Forced air, gas fired Effective Age: 1985 Walkout: Placement: 2rt�': bath {#/fluali 3,r „d Ba#trs #G1ualI, Quality: B07 Walkout Quality: � ? � t} , -- _..� ty)' 1 # _� 4 Renovated Age: # of Cars: Spa: ! Spa: / Spa: / Shape: L- Shaped Floor Area: Dix: / Dix: / Dix: / Functional %: Condition: Full: 1 / Average Full / Full: / Style: One Level /Rambler Exterior Walls: 3/4: / 3/4: / 3/4: / Economic %: 1/2: / 1/2: 1 1/2: / Construction: Wood Frame p x Basement _= r a : Spa: � �LF� 1�1t unE' �nd.11�90 mi���?�n# , 3fd R��m Caunx � l� areas Exterior Walls: Wood Qual ity: Aea Full: / Bedrooms: 3 Bedrooms: Bedrooms: Unfin. 2 st GBA: nd GBA: Exterior Trim: Screened Area: 3/4: / Baths: 1 Baths: Baths: Unfin. 3rd GBA: Quality: Unfin. Total GBA: 1/2: / Family: Other: Other: Roof Type: Hip Open Area: Living: 1 Total Rooms: Total Rooms: Quality: Dining: 1 1st Floor Area: 1,092 Roof Cover: Shingles #000 _901' Kitchen: 1 2nd Floor Area: Bedrooms: Other: 3rd Floor Area: Window Type I: Double Hung' a Baths: Total Rooms: 6 Total GBA: 1,092 Patio 1 Area: 572 Family: 1 . Average Kitchen: F(a Yalue Window Type 2: Casement Qualit y g Patio 2 Area: Other: 1 Value. 1,000 Air Conditioning Central Quality: Total Rooms: 2 Desc ROUGH IN BATH Dormer Length: Bedrooms: 3 Baths: 1 �k d Date: M. • 01/08/ .,,t. Deck 1 Area � � ���`; Family: Dormer Quality: 2009 Appraiser ID: 18 Appraiser ID. y ' Quality: Living: 1 Price: $65,500 Appraisal Date: 04/21/2010 Patio Doors: Deck 2 Area: Dining: 1 Quality: Code: 15 Reason: Board of Review Appraisal Date: Kitchen: 1 Desc: Forced Sale Result: Interior Other: 1 Last Interior Inspection: 04/21/2010 Reason: Total: 8 Pool 1 Area: Result: Quality: Pool 2 Area Left Tag: Yes / No Quality: Corinel> ,> ORIG WINDS, NO WRAP, WOOD STRMS. ORIG EXT AVG, PEELING 08. MFSF. COVED CEIL. REMODELED KITCH W /NEW CABS & COUNTERS. PERGO ENTRY & KITCH. LENNOX =F. 09ASMT /ASSUME - VACANT & POSTED -NO TAG LEFT. 10 Asmt Appeal. Bsmt has sheetrock, wainscoat & T& G, recessed lighting, and cement floor. BSMT STOOL removed / adj to flat charge for RI bath. Home is in good condition. City of Brooklyn Center PID: 01- 118 -21 -24 -0017 Property Type: R - Residential Value Info: Residential Field Card Property Address: 5857 Colfax Ave N Zoning: R1 YearNersion: 2010/ 1 Printed: 04/23/2010 Lot / Block: 001/000 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Franzen's Addition Owner(s): Cel Monton LLC Bldg: 75,800 Version: 1 District: Total: 122,800 Neighborhood: 0054 f! g- r�si�ns )n ��nc,�s�.` -�: �ufls�Ip #p��, , Land Type: Standard Lot Frontage: Park: Gas Length! ,Width Sq Ft Land Quality: B05 -Land Left Side: Park Quality: Paved Street 40 24 960 Area Rating: Very Good Rear Side: On Lake: Sewer Available 1 12 12 Site Rating: Good Right Side: Lake Quality: Water Available 10 12 120 Zoning: R1 Effective Width: 75 On River: 0 0 0 Contamination: Effective Depth: 134 River Quality: 0 0 0 Flood Plain Map Ref: Effective Water: Landscape Quality: Average 0 0 0 PUD Ref: Property Area (SgFt): 10,050 0 0 0 Allowable Units: Acreage: Not Buildable: N Excess Land (SgFt): Adjacent Owner: N Usable SgFt: Flood Plain: N Flat Desc: Zoning Variance: N Flat Amount: Manual Land: N I I I ;• - - - - -- -----------•--•---•--•-- 26" 20' 1 Garage r 240 8' PATIO - - -- __ 572 12' I I a c o 26' 2" 40' First Floor 1092 N N , Bas N 1$" 10' 40' Sketch by Apex IV'"' Report Name: City of Brooklyn Center Printed: 04/28/2010 Sales Comps Details Sales Comps Details Page: 1 Item Su ct Comnl Comn2 Comn3 g 9 A' PID 0111821240017 0211821310047 0211821430095 3611921330025 Address 5857 Colfax Ave N 2348 Brookview Dr 2018 54th Ave N 6100 Emerson Ave N District Sale Price $65,500 $140,000 $156,250 $138,500 Sale Date 01/08/2009 06/19/2009 12/10/2008 09/25/2009 Cash Equivalent $149,250 $138,380 Price Per Sq. Ft. $59.98 $119.05 $141.34 $147.84 Dwelling Type Single Family Single Family Single Family Single Family Style One Level/Rambler One Level/Rambler One Level/Rambler One Level/Rambler Property Area 10,050 11,362 9,500 10,452 Actual Age 1954 1956 1955 1954 Effective Age 1985 1980 1980 1985 Quality Class B07 B07 B07 B07 1st Floor Area 1,092 1,176 1,056 936 Total GBA 1,092 1,176 1,056 936 Finished Area 1,812 2,058 1,848 1,620 Basement Area 960 1,176 1,056 912 Basement Finished ( %) 75% 75% 75% 75% Total Bedrooms 3 3 4 3 Total Bathrooms 1 3 2 2 Garage 1 Floor Area 240 528 228 308 Garage 1# of Cars 1 2 1 1 Garage 1 Placement Attached Detached Attached Attached Total # of Cars 1 2 3 1 Walkout Type Air Conditioning Central Central Central Central Pool Area -Total Fireplaces 2 Deck Area -Total Porches 96 114 River Lake Influences - Sq. Ft. Adj $50,341 ($2,022) $2,624 $6,103 Add BsmtAdj $8,928 ($1,715) ($629) $446 Ded Unfin GBA Adj Site Adj $47,000 Garage Adj $3,750 ($3,351) ($6,334) ($965) Walkout Adj Patio Adj $399 $312 $399 $399 Bath Adj $5,115 ($8,008) ($7,103) ($6,975) Air Conditioning Adj $2,031 $120 $290 Porch Adj ($1,998) ($2,438) Fireplace Adj ($4,525) Deck Adj Fin Bsmt Adj $9,374 $2,190 ($661) $3,649 Misc. Adj Total Adj $126,938 ($12,594) ($18,107) $509 Market Adj Value $127,406 $131,143 $138,889 i M ; o tu it 'a - 62nd Ave N 3 Summit [k N � z s r .' 'v l� Comp 3 1 � d z �randyi@yy Will Ave N .6131h Ave N i Park . I 591h Ave N 1 - SC-1gh Ave N #, �00 z c i f o a Na#Ireay f� t4 a 581h Ave N : S81h We N rn _ 74 $0,8s talcs Rd � o d # s JU_s57ttt y _...._ ._.... .. s p_ Avg 57th Ave N c7 _ 57th Ave h1 _ ____ _ 57 th Awe r } PC is n , 58th Ave N 551h Ave N ti" z C z z on Comp 1 4 z a 4 a 3 a e � `. c a 4 j 55th Ave N Pant 5&h Ave N @ ¢ LU c 0uv�` entgrbrook Golf COMP 2 a Park ' z z z z boo yds CD c p 2010 Microsoft Corporation m 010 NAVTEQE %M i COMPARABLE SALES MAP COMPARABLE #1 2348 Brookview Dr COMPARABLE #2 201854 Ih Ave N COMPARABLE #3 6100 Emerson Ave N Report Name: SalesInformation City of Brooklyn Center Printed: 04/28/2010 Sales Information Report Page: 1 O1- 118 -21 -24 -0017 - 5857 Colfax Ave N Sale Date Sale Pri Cash Equiv Sale Type Sale Ratio Comments AL Yr yJU Ih —YE OV YIE 01/08/2009 $65,500 $0 01- Warranty Deed 15 - Forced Sale 2009 1 0 0 06/01/2002 $138,000 $0 11- Other 00 - Good Sale PTS = 3000 2005 1 0 0 08/01/1996 $79,250 $0 11- Other 00 - Good Sale 2005 1 0 0 05/01/1991 $77,900 $0 11- Other 00 - Good Sale P =0 2005 1 0 0 02/01/1988 $68,000 $0 11- Other 00 - Good Sale 2005 1 0 0 I Report Name: Permit List Printed: 04/20/2010- City of Brooklyn Center Permit List Page: 1 Permit List for: 5857 COLFAX AVE N r it p Lid Value Permit Type Sub Type Work Tvoe Description Cancell Issued Date Final Date Dead Date Expiration Vat c Refund Date BCO22017 $158 Mechanical Gas Piping Replace INSTALL RANGE AND 05/27/2003 08/13/2003 NEW SHUT OFF VALVE Permit Count: 1 CITY OF BROOKLYN CENTER LICENSE INFORMATION PID: 0111821240017 License Information License Number: 01004535 License Status: A License Type: Rental License Location: Business Applicant: Company: Douglas Allen Wahl Business Address: 1845 Stinson Parkway NE, Business City: Minneapolis Business State: MN ` Business Zip: 55418 Telephone: 6127828888 Assigned Dates: Applied: 4/3/2009 Inspected: 4/22/2009 Council: 5/11/2009 Issued: 5/13/2009 Expiration: 4/30/2011 2010 INCOME APPROACH ANALYSIS Single Family Residential Rental YEAR OF CONSTRUCTION: 1954 PI D: 01- 118 -21 -24 -001 T' Owner(s) ;'Cel Monton LLC 5857 Colfax Ave N Brooklyn Center, MN ACTUAL MARKET Unit Type # Bedrooms RENT RENT 0 STUDIOS $0 $0 0 1 BEDROOMS $0 $0 0 2 BEDROOMS $0 $0 1 3 BEDROOMS $1,250 $1,200 0 4 BEDROOMS $0 $0 1 Garages $0 $35 Garage stalls included in rent MONTHLY.ADJ. RENT $1,235 TOTAL ANNUAL ADJ. RENT $14,820 GROSS BUILDING AREA 1,092 LAND AREA 10,050 CAPITALIZATION PROCESS MARKET POTENTIAL GROSS RENT (PGI) $14,820 LESS: VACANCY & COLLECTION LOSS % OF PGI -2.00% ($296) OTHER MISC INCOME 1.00% $148 (Application Fees & Late Fees) EFFECTIVE GROSS INCOME $14,672 LESS: ANNUAL EXPENSES: % OF PGI Insurance -4.50% ($667) Rental License -3.00% ($445) Maintenance & Cleaning - 5.00% ($741) Reserves for Repairs - 2.00 % ($296) TOTAL ALLOWANCE - 14.50 % ($1,853) ANNUAL NET INCOME $10,670 RETURN ON & OF PERSONAL PROPERTY $1,500 HOUSEHOLD @ ($180) NET INCOME TO REAL PROPERTY $10,490 CAPITALIZATION: CAPIITALIZATION RATE 6.00% EFFECTIVE TAX RATE AVERAGE 1.66% OVERALL CAP RATE 7.66% 7.66% 2010 CAPITALIZED VALUE OF PROPERTY $136,950 * For Ad Valorum Tax Calculations, property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation. Monthly rent does not include utilities. Tenants are responsible for paying water, gas, electric, garbage, maintaining lawn and snow removal. -6upm NN LHStKJL I F HX P • 5 yam Comp Ma rket Friday, April 8, 2010 Summary of Comparable Listings This page Summarizes the oomparable listings contained In this market analysis. Sold Listings Address Price Bds 8th TFSF $JSq Built style Sold Data : DOM CDOM S= 5350 James Avenue l $83,000 5 2 2062 $40 1954 ONEST 08/2112009: 6 187 5524 DupontAvenue a $25,000 1 1 491 $51 1947 ONEST 09/2412009: 23 39 5851 Girard Avenue I $25,000 1 1 704 $33 1950 ONEST 09115/2009; 135 319 5327 ColfexAvenue (1) $37,000 2 1 050 $57 1941 ONEST 07/28/2009] 55 65 6409 Fremont Avenue 3 $29,000 2 1 772 $38 1920 ONEST 11/11Y20091 112 112 5420 Emorzon Avenue iS $42,096 4 2 1400 $30 1941 ONEST 0811212009; 40 40 6821 Humboldt Avenue $41,000 3 1 1126 $38 1953 ONEST 0712012009; 41 230 5828 Fremont Avenue'tl "V-- `^` $56,000 3 1 1095 $60 1950 ONEST 01/22/2010 28 28 6637, Irving Avenue $75,000 3 1 978 $77 1966 ONEST 09/18/2009; 41 41 5838 James Avenue 3 $80,g00 2 1 988 $81 1954 ONEST 08129009; 11 11 5701 Emerson Avenue; i $85,000 4 2 1504 $43 1962 ONEST 08118/2002 12 12 5819 Kn;)x Aven4t 5' $66,000 3 2 1825 $34 1955 ONEST' 06/0&/2009; 42 144 5408 Colfax Avenue 0 $88,000 3 1 1040 $85 1958 ONEST 07/01/20091 4 4 5637 Camden Avenue 15 $84,000 3 1 1066 $79 1957 ONEST 06/18/2009 ! $1 350 5425 Humboldt Avenue Zk $55,000 4 1 1630 $40 1955 ONEST 10/30/2009 ; 14 14 1208 57Th Avenue tS - $82,817 3 2 1482 $43 1953 ONEST 07/23/2009 i 2.1 205 5508 Fremont Avenue bfnv L - mL 5 $80,000 3 2 1800 $50 1958 ONEST 08/2012009 42 42 6800 Irving Avenue 15 $74,900 2 1 1383 $64 1955 ONEST 02/25/2010 ; 2 2 5712 Colfax Avenue.3 $88,300 3 1 912 $96 1955 ONEST 11117/2009 i 7 7 6413 Logan Avenue IS $79,900 3 2 1730 $46 1954 ONEST 08107/2009 80 80 5431 Irving Avenue r-) $88,800 3 2 1405 $83 1955 ONEST 03/09/2010 11 34 5410 Girard AvenueC $105,000 3 1 1196 $88 1932 ONEST 02/2812010 7 7 5835 AldrichAvenuaID $106,000 4 2 1786 $59 1931 QNEST 11/2512009' 40 230 5843 EmeraonAvenu8 &WCN $115,000 2 2 1290 $89 1961 QNEST 0913012009 »' 3 3 6344 James Avenue (air L - wk-S $92,500 3 1 1612 $57 1954 ONEST 0310312010: 193 110 5707 Girard Avenue $108,000 3 2 1778 $60 1952 ONEST 02/25/2010 11 386 5401 Jamee:Avenue ?-(-e $97,440 2 2 1300 $75 1954 ONEST 07/2312008: 48 48 5350 Knox Avenue 1- $100,000 3 1 1 1100,00( 1954 ONEST 11117/20W1 100 100 6328. Emerson Avenue - ZoOOO $109,000 2 1 938 $118 1838 ONEST .10/2312009.,:: 191 547 5828 Fremont Avenue 6PO4 k- $56,000 3 1 1096 $80 1950 ONEST 021=2010 i 3 .5526 Logan Avenue(,000- $107,500 2 1 775 $139 1961 -ONEST 0311612010 �: 18 64 5.840 Knox Avenue Z(.n $112,000 2 2 945 $119 1950 . 0 ' EST 02/2812010 67 67 5830; FremontAvenue<..v?�D $122,000 3 2 1869 S88 1955 QNEST 12/30/2009 19 10 5831 Dupont Avsnua °C O , 00 $110,000 3 1 1128 $98 1955 ONEST 07!3012009 i� 22 196 1208 57Th Avenue zLf $120,000 3 2 1482 $82 1953 ONEST 03/01/2010 38 39 6449 Colfax Avenue Zto $122,450 3 2 1874 $66 1935 ONEST 01/12!2010 188 188 5419 Irving Avenue 6000 $127,425 3 1 1878 $88 1956 ONEST 11/1312009 I 28 28 ' 5320 Colfax Avenue 60 $117,000 3 1 1414 $83 1947 ONEST 12/30/2009 >� 38 36 6816 Bryant Avenue. 7,1P $131,000 3 1 1491 $BB 1966 ONEST 12/28/2009 ; 56 68 5909 N Emerson - Avenue 660n $138,000 2 2 1106 $125 1950 QNEST 09/30/2009 ; I _ 1 77 Averages; S84,339 2.8 1.4 1288 $2,686 1950 ! 47 108 i Rpr 09 2010 1:01PM HP LRSERJET FAX p• CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19, 2010 through April 9, 2010 You must t um t his application by April 9. 2010, to be placed on the Agenda for the Local Board of Appeal and Equalization held April 19, 2010 at 7 :00 P.M. Name(s) deb.- )h%'7ZM) Daytime Contact Number: -+!� - Property Address 4a/� 41161A2A A/0 Property Identification Number 0/ t /8'-- .�2/ - 0 j7/ Assessor's 2010 Estimated Market Value zx , Is your property residential, commercial or multi- family? If you are appealing a commercial, multi - family or residential rental property you must include income and expense data for calendar year 2009 with your application. What is the reason you are appealing your 2010 assessment? .•J v e 415 ✓c l f d. ��rr�/ 72 S 01 1 _; SOyo t/3�3 0 t� �- qz sw e'�v.3 r-n t!` Vic: ��c Ac 4 V..j 7 - /,' e.' Vx1-x 61A L Vk 1,x f 1 C — V, AP& r ., G � ? n h �1n+ �- h y t '. � fl'" '► r C r CC c i b r ^ �` �r0„c �?,�,.+ ' f" ' n-o r-A /'`qt� °y'� When did you purchase y our home? Date of Purchase Jf -'/ - ,Qcc'9 Purchase Price De Did you purchase your property from a bank, as a foreclosure or short sale ? .'� Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. Have you had a recent appraisal for refinancing,Durchase or a market analysis by a real estate agent completed within the last year? \Y.as No t If so, what was the determination of value? p-,rM 10 I a oet !l �:3 `. l ° l�'L ' YG �•'I - Pi �L. What do you think the market value of your property should be7 d b Please provide any documentation supporting your claim of overvaluation or erroneous classification with this application, In order to appeal your valuation an appointment to vlsthe prowty will be required Apr 08 2010 1:01PM HP LASERJET FAX P•8 CEL Monton, LLC Profit & Loss 6014 GIRARD AVE NO Jan - 0ec 09 Ordinary Ince"WExpenae Income 4100 • Rental income 5,300.00 Total Income 5,300.00 Expense 5100•Ineuronoe 6110 •Property Insurance 535.40 Total ai00 • Insurance 535.40 3300 • Repairs 6310 Buliding Repair 1,089.50 8300 Repairs • 0111er 2.554.84 Total 5300 • Repairs 3,844.34 $400 , Litunies $420 • Water 56.18 5430 • Electric 53.98 Total 6400 • Utilities 112.15 6000 • MATERIALS 2,718.35 8200 • Tax" 8230 • Property Taxes - 164.33 Total 8200 • Taxes -154.33 7040 • Licensee and Permits 900.00 7090 • Property Maintenance 307.00 Total Expense 8,052.91 Not Ordinary Income , 2,752.61 Net Income - 2,742.91 Pape 1 Review Of 6014 Girard Ave N PID# 01 118 2122 0071 For Refive Investments LLC 2010 Board of A peal and Equalization " °. T k � a. \ City of Brooklyn Center A Millennium Community T0: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID # 01- 118 -21 -22 -0071 RiFive Investments LLC 6014 Girard Ave N Brooklyn Center, MN 55430 A representative of Edlich Realty contacted the 2010 Local Board of Appeal and Equalization regarding the 2010 estimated market value of the property located at 6014 Girard Avenue North by telephone on April 8, 2010. This property has a 2010 estimated market value of $113,500, with an improvement amount of $2,000. The board directed Mr. Edlich to schedule an appointment for an interior review with the Assessor's office. A review of the property was scheduled on April 22, 2010 with an appraiser from the Assessor's office. The property is a 912 sq. ft. rambler with a one car attached garage in fair to average condition. The main level includes a living room, kitchen, three bedrooms, and one full bathroom. The main floor finish is sheetrock walls with refinished wood floors, original kitchen cabinets and an average finish full bathroom. The basement finished area includes one family room and two other rooms. The basement finished area has vinyl tile floor, paneled /painted walls, and no ceiling finish, and is considered in fair condition. There is no egress window or bathroom in the basement area. The finished area comprises 75% of the total basement square footage. The property has newer gas forced air furnace and central air conditioning. The last interior property review was completed in June, 2003. After reviewing the property, changes were made in physical characteristics to the quality of basement finish from average to fair, a change to the first floor bathroom quality from very good to average, and an adjustment to the overall effective age. After reflecting the characteristic changes the property calculates an estimated market value of $110,600. As requested, Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was provided to the council in the initial appeal packet from the owner. Three actual documents were provided to the Assessor's office with actual rent figures of $1,150, $1,200 and a total 2009 annual income of $5,300. Due to discrepancies in the numbers, the average market rent of $1,200 for a typical three bedroom home was used as 2009 rent. Additional comments indicated rents were decreasing as owners renew yearly leases. The subject property was purchased in April, 2009, and the rental license was not issued until July 28, 2009. It is assumed that the original lease amount is currently still in place. In discussion with the Assessor Mr. Wahl indicated that the tenants were responsible for all utilities, maintaining the yard, and snow removal. Due to the lack of itemization of excessive repairs, and materials as typical expenses, and deducted expenses that are obligations of the 6301 Shingle Creek Parkway Recreation and Community Center Phone & TDD Number Brooklyn Center, MN 55430 -2199 (763) 569 -3400 City Hall & TDD Number (763) 569 -3300 FAX (763) 569 -3434 FAX (763) 569 -3494 www.cityolbrooklyncenter.org tenant, the owner's documentation was reviewed, but not felt reliable for use in calculating the income approach. As the majority of single family residential properties in Brooklyn Center are owner occupied, more weight is given to the sales comparable approach rather than the income approach. A market derived income approach of a single family three bedroom rental property has been included with this report. Mr. Edlich did not provide a comparative market analysis listing of comparable homes in Brooklyn Center with the initial appeal application for the subject property. The enclosed grid completed by the Assessor's office shows the subject property adjusted value at $110,630. The comparable grid compares the subject property to three similar rambler homes in Brooklyn Center. While the subject property is slightly smaller than the average 1,000 sq. ft. home, adjustments were made to all comparables for size, garage, basement, and amenities. Comparable number one required the least amount of adjustments to be similar to the subject property. The enclosed comparable sales grid indicates a range of value for the subject property from $110,198 to $122,581. It is the Assessor's recommendation to reduce the 2010 estimated market value of $113,500 to $110,600, and remove the $2,000 improvement, for taxes payable in 2011. Respectfully submitted, Nancy Woj ik, SAMA City Assessor SUBJECT PROPERTY 6014 Girard Ave N Refive Investments LLC PID# 01- 118 -21 -22 -0071 ad G 9 9' N,. Land Characteristics Land Area 10,050 sq. ft. Building Characteristics Style: Rambler 912 sq. ft. Main Level Room Count: 5 / 3 / 1 Full Bath Below Grade Room Count: 3 / 0 Bdrm / 0 Bath Garage: 1 Car Attached Fireplace: 0 Porches /Decks /Misc.: Patio Central Air Conditioning: CAC Report Name: Images City of Brooklyn Center Printed: 4/30/2010 PID: 01- 118 -21 -22 -0071 Page: 1 Property Images y=� v Report Name: Taxpayer Inquiry City Of Brooklyn Center Printed: 4/27/2010 - Taxpayer Inquiry Page: 1 Display PID House Nbr Street Name Unit Zia Code Lto 01- 118 -21 -22 -0071 6014 Girard Ave N 55430 Last Name First Name MMi Owner Taxpayer Resident Refive Investments LLC Y Y N Frontage Left Side R ear Side Right Side , Width EM Depth Property Area Acre ,age Zonine Exempt Code School Dist Watershed Yr Built 75 135 75 135 75 135 10,050 0.00 RI 0286 15 1953 Year Yu #Subs Land Value Bldg Value Mach Value Tot Mkt Value Tax Can Hmstd Midyr RAH P/T %oOwn ELL 2010 1 1 47,000 66,500 0 113,500 1,135 N N N R 0 N 2009 1 1 58,900 33,600 0 92,500 925 N N N R 0 Y 2008 1 1 60,900 96,100 0 157,000 1,570 Y N N R 100 N Lot: 015 Block: 000 Addition: Edwin E. Nelson's 2nd Addition s G9 J c� ... LOGIS - Property Data System - City of Brooklyn Center <Files on BC Server> <C:lProgram FilesXLogisxpDS cs> * f'_131 RIF Property " 1©' Nat ?e# reet, l rye t 3 Phota(s) an file Today's date: 4t29J201 j 11 11 1 "Sketch(es),anfile " Release: 1.0r'.O41 01 118 22 00 71 �. Address Q14 Irf,�rd tre Logged ed an user: G j j, ogg se NUVOJ IK Single PH) 1 Parcel $Parch as , 3 Prink" Phctds " �A�sessina Nancy Woicik (PI) Parcel Status: ACTIVE G ha'Apptsod Ye# _1 l MV Update SSM Fukure to Current °.. "., TaxCapacikiesUpdak; AssessmentYer ; Manualgssessartenk Man�ralLarttk r 11 TOH Update � „"; Value �loktce File 8wldin sand �. Swnmar�t .. Values Mass Update 11 % Otnlel r Type S Quafi SEple " 11 1. E�1 Sales AdnxttsErakwn �Parn�i B0 Qne e�teVRambler wa ,clesarptrriatipn TotalFA 1 Ada0. R1 � �: _�_`,�,],,�- ''�� ,:jj, ! aies R�1t �� � R, �_", Coiraparates Informatf° B 1, ash Ftate �0 Mmhilax.das I 11 I ' Acused � p. ' Rncel Jme A*stmen A p Sha a ° 0.0 - 1�,.. RatiS'� a elr o �4�d�lasement.." 120 312 5c�# � : � 11 - 'Jeiht Parameters tl ComparatlJes Batch U 0 0 , BA $0 � $30.00 % L=1 PrPperky Ch,tackettsk 11 I % kan. I 11 Adlt+sre 11 11 dT fl lnspeckwns 11 i x, Restdentaal Addtkive ; j z " $8 4�9 0irae X69 = ptrtter0 Patin E�.prrrs: $0 % Oommercla� ! Industri� Maki Family $0 �s $1 decks: $0 11 $24 ," ,lid Gad Ptirit Pcl P� Pc�a1s "0 11 inspections "Mssslck3 ".- 1. ,0 $5;5i4O Fire 0 Fin 6stnk 6.156 PtaPeity Mass lJpdate �$ - 4 �, , 9 �ssiden .. MassAdd (;' Tata1 ca ti � 7 > .r <� 4' , Kitchen. $�+ ' I'll f. 'l .� P L f ,, 1 4 E Y `. In!�U�� ;3 E r118r1tS: - I '� dl �ectt+ 5 �nf 3 p.0 % Martcet �i lue "Resider �x �` IN "I r °'tV o , ,�� F" :� � I7.© 6�€aricl�usx,� 0 0 % Ma ke slue miner., t _,, tVVlue t luVb F x Rak a il�,� .Land' Roll. Yal. r �. ` ,` 'A " "81 If, 11 �� k dg Mkt :Value $G : , 6.500 R ate; Y ages = Fi wider ' CAMA :Land Ftat�falues: $ 1rtd Mkr Value !4 t100" 11 11 G4MA Resident�a "I' „ Tatal.Mkt Valus:'1540 1.11 i IN " i+i Sr�.r ial.��ReccmPntci '' x N % "12 I 1 -Prope Dat of Brooklyn on r + P1 Proptt,lD I louse# Street lime .... tJriit 2 Photo on file Today's date: 4123x2010 ,. . i SR tch(es) on file Release: 1.07.041 0 1-118-21-22-0071 - Address: 160,14 it rdl A l Logged on user: WVOJCIK Singh PID 1, Prch 2 Clear 3 Prrrit 4lfraw PtlkQS sNACTIVE oic AMA (Assessing - ik (PQ Parcel Status: Yalue.NOct' Fie In k�alue Maasiate 77.7 77- 7 C Sales Admriiskratian AsessentYear 2C11t1� l�nu�arl�4ate�smsr Manual�ani .. Safes hfoi�aak► ©n ouild� , r Sales Fiakios Lad.<. „Su ;' Comlaarable IriF�urr#aki W ]+II T e in Ox t:odas !rgR �Iamilyu5� B0 Style. at�elbual %Rambler one Ad . 4 s le Total a s 9131” Aga 3S.• forting. Rl - We "ibh Pararn 3 .M+wr.... C?al> Rake i Pwoperty.Charae tali kics listed Rake: r , f70 0" - I nspeotrons AdI Rt "G0A4�a1)1,- asemank $9,120T yFt @ $10.00 r Rev— t �rlyd. I1r S BA $0Q SgFt I�QtTllrfercl l¢�e h Arkatd Teel `1 Freld Card Prink 0 d p F� k 3 3 #3 Inspeektr�rlxM .!�It4Y ��i..l� er A �£? 1 �+ s $479 Dormers $Q Paoors : $ll Pr4p�►k� Masi � '�' } �,. � : � � '` r�� 3a��� �..� ��.�..,...�..,. Air Geld 1 82 I kks a 0 RBSrdenkral Mas�� : y iP LAMAS y $ Porr�resQ #'ac. $0 K MerketUl�el esic �,. lace 7 .Markel Yak tam Total Cost itch an Market Vahue klultx _. $© �� Ratefiables Lan e d Adjuskments a: 1 ���r►r"s' 0. s �' "Rate "Tabls f1� CAM Lands [ rc 00 e wr CA MA Resxdt F I d 3 • S Y. 7pe�ael Asxessrk Build 'oaf..: S 6lQ B I kt. F 63 600 AMA Re orts and In g Flak ale p Catabase'IJt�lrkre $4 7,000 u $� �� ' � .Land Mkt', itelue Securik r y Ad r 'n' ist etior� 5 Total Mkk U�e $110 � � �'� City of Brooklyn Center PID: 01- 118 -21 -22 -0071 Property Type: R - Residential Value Info: Residential Field Card Property Address: 6014 Girard Ave N Zoning: R1 Year/Version: 2010/ 1 Printed: 4/27/2010 Lot / Block: 015/000 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Edwin E. Nelson's 2nd Addition Owner(s): Refive investments LLC Bldg: 66,500 Version: 1 District: Total: 113,500 Neighborhood: 0054 , E u..:a e .. �. , .r... 6n-.' a ..,.. .....a •&a e €"4' a .. Tatals� ......c.z ., • �{ 4. Model ' Carle Area (SgFt): 912 Kitchen Rtg: Standard Interior: Interior. Res. Cond: Average Placement: Attached Type: Regular Interior: Sheetrock Trim: Trim: Dwell Type: Single Family # of Cars: 1 Finished ( %): 75 Trim: Softwood Floor: Floor: Int. Layout: Standard Floor Area: 288 Quality: Fair Floor: Wood Avg. Clear. Height: Avg. Clear. Height: Adjacent Property: Equal Condition: Average # of Fireplaces: Avg. Clear. Height: # of Fireplaces: # of Fireplaces: Manual Assess: N Exterior Walls: Wood Fplc. Quality: # of Fireplaces: Fplc. Quality: Fplc. Quality: View: Equal Avg. Clear. Height: Fplc. Quality: Actual Age: 1953 Elec. Svc: Standard Arch. /Appeal: Average Htg: Forced air, gas fired Effective Age: 1975 #1 f�.. Walkout: ment: Quality: B07 Walkout Quality: $; ��)! ; ��?F . , rl?�4��Y ?.,.,' Renovated Age: Cars: Spa: / Spa: / Spa: / Shape: Square Floor Area: Dix: / Dix: 7 Dix: / Functional %: Condition: Full: 1 ! Average Full: / Full: / Style: One Level/Rambler Exterior Walls: 3/4: / 3/4: 1 3/4: / Economic %: 1/2: / 1/2: / 1/2: / Construction: Wood Frameef ... ..� Spa: / Y Building Areae' Glazed Area: " > Unfin. 1 st GBA: Dix: / ... Exterior Walls: Wood. ... Quality: Unfin. 2nd GBA: Full: ! Bedrooms: 3 Bedrooms: Bedrooms: Exterior Trim: Brick Screened Area Unfin. 3rd GBA: 3/4: / Baths: 1 Baths: Baths: Quality: 1/2: / Family: Other: Other: Unfin. Total GBA: Roof Type: Hip Open Area: Living: 1 Total Rooms: Total Rooms: Quality Dining: 1st Floor Area: 912 „ � ., � Roof Cover. Shingles � •• 4��•3,.. Kitchen:. 1 2nd Floor Area: Bedrooms: Other: 3rd Floor Area: Window Type 1: Double Hung "' ° ° t �J Baths: Total Rooms: 5 Total GBA: 912 Patio 1 Area: 266 Family: 1 Window Type 2: Quality. Average Kitchen:. Patio 2 Area: Other: 2 Value. Air Conditioning: Central Quality: Total Rooms: 3 Desc: TotaLRoorr , y..3 Dormer Length: Bedrooms: 3 0 s m� �asr ' Baths: 1 Date: 04/27/20 Dormer Quality: Deck 1 Area: Family: 1 09 Appraiser ID: 11 Appraiser ID: Quality: Living: 1 Price: $41,400 Appraisal Date: 04/22/2010 # Patio Doors: Deck 2 Area Dining: 0 Quality: Code: 15 Reason: Board of Review Appraisal Date: Y Kitchen: 1 Desc: Forced Sale Result: Interior Other: 2 Last Interior Inspection: 04122/2010 Reason: Total: 8 Result: Pool 1 Area Quality: Pool 2 Area Left Tag: Yes / No Qualit it §'5 Ca x is Y• R 8 w3 5: P OP s .i. . «lwa AREAS, VINYL FLOORING, ADJUST TO FAIR CONDITION. FLOOR BATH M1 SF. AVG EXT COND. BSMT FINISH MISSING CEILING HAS CERAMIC TILE FLOOR AND TUB SUUROUND. City of Brooklyn Center PID: 01- 118 -21 -22 -0071 Property Type: R - Residential Value Info: Residential Field Card Property Address: 6014 Girard Ave N Zoning: R1 Year/Version: 2010/ 1 Printed: 4/27/2010 Lot / Block: 015/000 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Edwin E. Nelson's 2nd Addition Owner(s): Refive Investments LLC Bldg: 66,500 Version: 1 District: Total: 113,500 Neighborhood: 0054 takwddwlwwl�� in Land Type: Standard Lot Frontage: 75 Park: Curbs WWtl Land Quality: B05 -1-and Left Side: 135 Park Quality: Gas 38 24 912 Area Rating: Very Good Rear Side: 75 On Lake: Paved Street 0 0 0 Site Rating: Good Right Side: 135 Lake Quality: Sewer Available 0 0 0 Zoning: R1 Effective Width: 75 On River: Water Available 0 0 0 Contamination: Effective Depth: 135 River Quality: 0 0 0 Flood Plain Map Ref: Effective Water: Landscape Quality: Average 0 0 0 PUD Ref: Property Area (SgFt): 10,050 0 0 0 Allowable Units: Acreage: Not Buildable: N Excess Land (SgFt): Adjacent Owner: N Usable SgFt: Flood Plain: N Flat Desc: Zoning Variance: N Flat Amount: Manual Land: N 181 i I k Patio i `r r ! 268' I r I k 12' 38' •.ti, s" kr Garage N N First Floor N • 288' 912' 38 Basement N 812' 38' Sketch by Apex I lm Report Name: City of Brooklyn Center Printed: 4/28/2010 Sales Comps Details Sales Comps Details Page: I Item Subject Corral Comp2 Com PID 0111821220071 0111821230092 0111821210111 3611921330025 " Address 6014 Girard Ave N 5831 Dupont Ave N 5921 Bryant Ave N 6100 Emerson Ave N District Sale Price $41,400 $110,000 $122,000 $138,500 Sale Date 04/27/2009 07/30/2009 02/06/2009 09/25/2009 Cash Equivalent $118,340 $138,380 Price Per Sq. Ft. $45.39 $127.31 $123.27 $147.84 Dwelling Type Single Family Single Family Single Family Single Family Style One Level/Rambler One Level /Rambler One Level /Rambler One Level/Rambler Property Area 10,050 11,390 10,472 10,452 Actual Age 1953 1955 1950 1954 Effective Age 1975 1980 1980 1985 Quality Class B07 B07 B07 B07 1 st Floor Area 912 864 960 936 Total GBA 912 864 960 936 Finished Area 1,596 1,296 1,320 1,620 Basement Area 912 864 720 912 Basement Finished ( %) 75% 50% 50% 75% Total Bedrooms 3 3 2 3 Total Bathrooms 1 1 2 2 Garage 1 Floor Area 288 280 240 308 Garage 1# of Cars 1 1 1 I Garage 1 Placement Attached Attached Attached Attached Total # of Cars 1 1 1 1 Walkout Type Air Conditioning Central Central Central Central Pool Area -Total Fireplaces 1 Deck Area -Total Porches 114 River Lake Influences Thru Street Sq. Ft. Adj $40,159 $583 ($3,889) ($4,079) Add Bsmt Adj $7,962 $229 $1,446 ($520) Ded Unfin GBA Adj Site Adj $47,000 Garage Adj $4,163 $514 _ ($552) Walkout Adj Patio Adj $175 $175 $175 Bath Adj $4,802 ($1,911) ($6,058) ($7,288) Air Conditioning Adj $1,592 ($146) ($149) Porch Adj ($2,438) Fireplace Adj ($1,810) Deck Adj Fin Bsmt Adj $4,777 $1,297 $1,845 ($948) Misc. Adj Total Adj $110,630 $198 ($7,923) ($15,799) Market Adj Value $110,198 $110,417 $122,581 62nd Ava N AN Z comp :> z 4 a► . 61St N U . Subject a 6th AMO N 6M Ave 14 GMndVl* park, 3 901h ' Ave N SW Ave N . } 4c _._ . . > '�C 250 t 4 2010 t! Cro CorporaWn 0 2010 NAVTEQ 0 COMPARABLE SALES MAP COMPARABLE #1 5831 Dupont Ave N COMPARABLE #2 5921 Bryant Ave N COMPARABLE #3 6100 Emerson Ave N Report Name: SalesInformation City of Brooklyn Center Printed: 4/27/2010 Sales Information Report Page: 1 01- 118 -21 -22 -0071- 6014 Girard Ave N Sale Date Sale Price Cash Equiv_ Sale Tyne Sale Ratio Comments A& XC Y-cr Ov yC Vs. Y-cr 04/27/2009 $41,400 $0 01- Warranty Deed 15 - Forced Sale 2010 1 0 0 05/04/2006 $182,500 $177,334 01- Warranty Deed 00 - Good Sale Pts = $5166 2007 1 0 0 05/01/1978 $49,900 $0 11- Other 00 Good Sale FROM MLS 2005 1 0 0 i I Report Name: Permit List City Of Brooklyn Center Printed: 4/27/2010 ' Permit List Page: 1 Permit List for: 6014 Girard Ave N Permi # Unit Vllue Permit Tvoe Sub Tvoe Work Type Description Cancelled Issued Date Final Date Dead Dat ExQiration Date Refund Date BCO37441 $0 User Defined Vacant Building Registr. Residential VACANT BUILDING 02/10/2009 06/30/2009 REGISTRATION BCO27090 $500 Plumbing Residential Replace REPLACE WATER 05/04/2005 05/23/2005 HEATER BC007039 $2,375 Mechanical Furnace Replace REPL FURNACE 10/09/1996 10/17/1996 BC006931 $400 Plumbing Residential Replace REPL WATER 09/19/1996 11/07/1996 SOFTNER BC005837 $500 Plumbing Residential Replace WATER HEATER 12/28/1995 10/04/1996 BC001864 $2,500 Building Residential Single Famil Replace TEAROFF REROOF 05/06/1993 05/17/1993 Permit Count: 6 I CITY OF BROOKLYN CENTER LICENSE INFORMATION PID: 0111821220071 License Information: License Number: 01004647 License Status: A License Type: Rental License Location: Business Applicant: Company: Douglas Allen Wahl Business Address: 1845 Stinson Parkway NE, Business City: Minneapolis Business State: MN Business Zip: 55418 Telephone: 6127828888 Assigned Dates: 13 Applied: 6/18/2009 Inspected: 6/30/2009 $ Council: 7/27/2009 Issued: 7/28/2009 Expiration: 6/30/2011 2010 INCOME APPROACH ANALYSIS Single Family Residential Rental YEAR OF CONSTRUCTION: 1953 PID: 01- 118 -21 -22 -0071 Owner(s) : ReFive Investments LLC 6014 Girard Ave N. Brooklyn Center, MN ACTUAL MARKET Unit Type # Bedrooms RENT RENT 0 STUDIOS $0 $0 0 1 BEDROOMS $0 $0 0 2 BEDROOMS $0 $0 1 3 BEDROOMS $1,200 $1,200 0 4 BEDROOMS $0 $0 1 Garages $0 $35 Garage stalls included in rent MONTHLY ADJ. RENT $1,235 TOTAL ANNUAL ADJ. RENT $14,820 GROSS BUILDING AREA 912 LAND AREA 10,050 CAPITALIZATION PROCESS MARKET POTENTIAL GROSS RENT (PGI) $14,820 LESS: VACANCY & COLLECTION LOSS % OF PGI - 2.00% ($296) OTHER MISC INCOME 1.00% $148 (Application Fees & Late Fees) EFFECTIVE GROSS INCOME $14,672 LESS: ANNUAL EXPENSES: % OF PGI Insurance - 4.50% ($667) Rental License - 3.00% ($445) Maintenance & Cleaning - 5.00% ($741) Reserves for Repairs - 2.00% ($296) TOTAL ALLOWANCE - 14.50% ($1,853) u.4 44E-T WCOME $10,670 RETURN ON & OF PERSONAL PROPERTY $1,500 HOUSEHOLD @ ($180) NET INCOME TO REAL PROPERTY $10,490 CAPITALIZATION: CAPIITALIZATION RATE 6.00% EFFECTIVE TAX RATE AVERAGE 1.66% OVERALL CAP RATE 7.66% 7.66% 2010 CAPITALIZED VALUE OF PROPERTY $136,950 * For Ad Valorum Tax Calculations, property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation. Monthly rent does not include utilities. Tenants are responsible for paying water, gas, electric, garbage, maintaining lawn and snow removal. Hpr UH 2UIU 1:U8HM HF' LHSEHJEI FHK p•a w CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19, 2010 through April 9, 2010 You must return this application by April 9. 2010. to be placed on the Agenda fdr the Local Board of A and Equalization h I 2010 at 7 :00 P.M. . Appeal a held April 19, Name(s) Daytime Contact Number: Property Address Property Identification Number 0/ - t/ / =' ► - 'tali i Assessor's 2010 Estimated Market Value /0 . Is your property residential, commercial or multi -family? It you are appealing a commercial, multi-family or res idential rental property you must include income #nd expense data for calendar year 2009 with your application. What is the reason you are appealing your 2010 assessment? i !.s / t',�� /� !� dc'.e r:+ I cam, -- n r /'� •�k. S° r � •+ cr � / ?2 �' • i k- 1 ire: !,n ..i � e��7 ,c �- �. When did you purchase your home? Date of Purchase - 7 - / ;k)c8 Purchase Price �r- I T Did you purchase your property from a bank, as a foreclosure or short sale? g--� Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estima�ed cost. Have you had a recent appraisal for refinancing, purchase or a market enslyzis by a real estate agent completed within the last year? azbr No If so, what was the determination of value? /bra 1AVL "'. �e a What do you think the market value of your property should be? �•.� ' Please provide any documentation supporting your claim of overvaluation or erroneou classification with this application. In order to a ea! y our valuation an app ointmeri t to view the property will be required Hpr U5 EU 1 U 1 : UJF'm HI` . L.HbERJL I 1- HX P • U r Comparative Market Friday, April 9, 2010 Summary of Comparable Listings This page summarizes the comparable listings contained in this market analysis, Sold Listing= Address Price Bds 8th TFSF $l8q Built style Solid Deb; DOM CDOM S= 5350 James Avenue $83,000 5 2 2062 $40 1954 ONEST 088112009: B 187 5524 Dupont Avenue $25,000 1 1 491 $51 1647 ONEST 09) M2D09; 23 39 5651 Girard Avenue $26,000 1 1 784 $33 1950 ONEST 09/15/2009; 135 316 ,5327 Colfax Avenue $37,000. 2 1 050 $57 1941 ONEST 07/28r2009j 65 65 6409 Fremont Avenue $29,000 2 1 772 $38 1920 ONEST 11110120081 112 112 5420 Emerson Avenue $42,096 4 2 1400 $30 1941 ONEST 06/12!2009; 40 40 6621 Humboldt Avenue $41,000 3 1 1125 $30 1953 ONEST 0712012009; 41 230 5828 Fremont Avenue $66,000 3 1 1095 $60 1950 ONEST 01122/P0101 28 28 5637 Irving Avenue $75,000 3 1 976 $77 1056 ONEST D9/l812009 41 41 5838 James Avenue $69,200 2 1 988 $81 1954 ONEST D8/29/2009 11 11 5701 Emerson Avenue $65,000 4 2 1504 $43 1962 ONEST 08/78/2009+ 12 12 5819 Knox Avenue $661000 3 2 1825 $34 1955 ONEST 08/05/2009 i 42 U4 5408 Colfax Avenue $88,000 3 1 1D40 $86 1958 ONEST 07/01120091 4 4 5637 Camden Avenue $84,000 3 1 1066 $79 1957 ONEST 08/1812009 81 350 5425 Humboldt Avenue $66,000 4 1 1830 $40 1955 ONEST 10/30/2009 ! 14 14 1208 57Th Avenue $82,617 3 2 1462 $43 1953 ONEST 07123120091 21 205 5508 Fremont Avenue $80,000 3 2 1600 $50 1958 ONEST 08/2012009 ; 42 42 6800 Irving Avenue $74,900 2 1 1383 $54 1955 ONEST 02125120101 2 2 5712 Colfax Avenue $86,300 3 1 912 $95 1955 ONEST 11/17/2009 1 7 7 6413 Logan Avenue $79,900 3 2 1730 $46 1954 ONEST 015107120091 60 80 5431 Irving Avenue 58B,600 3 2 1405 $83 1955 ONEST 0310912010 1 11 34 6410 Girard Avenue $105,000 3 1 1190 $88 1932 ONEST 02/28/2010 7 7 5635 Aldrich Avenue $106,000 4 2 1786 $59 1931 ONEST f 1/25/2009 40 230 5843 Emerson Avenue $115,000 2 2 1290 $69 1961 ONEST 09130/2009 ` 3 3 5344 James Avenue $92,500 3 1 1612 $57 1954 ONEST 03/03/2010 63 110 5707 Girard Avenue $106,000 3 2 1778 $50 1952 ONEST 02125/2010 11 385 6401 James Avenue $97,440 2 2 1300 $75 1954 ONEST 07r3312D09 48 48 5350 Knox Avenue $100,0D0 3 1 1 1100,00( 1964 ONEST 11/1 ?12009 100 100 6328 Emerson Avenue $109,000 2 1 938 $118 1938 ONEST 10/2312009: 191 547 5828 Fremont Avenue $56,000 3 1 1096 $50 1950 ONEST 02/0212010 ! 3 6626 Logan Avenue $107,500 2 1 776 5139 1961 ONEST 03/16/2010 18 64 5840 Knox Avenue $112,000 2 2 945 $119 1950 ONEST 02!2812010 ' 67 67 5630 Fremont Avenue $122,000 3 2 1889 385 1955 ONEST 12/30/2009 ° 19 10 5831 Dupont Avenue $110,000 3 1 1128 $98 1955 ONEST 07/30/20D9 1 22 196 120857Th Avenue $120,000 3 2 1462 $82 1953 ONEST 03/D1/2010 39 39 6449 Colfax Avenue $122,450 3 2 1874 $86 1935 ONEST 01/12/2010 i 158 168 5419 Irving Avenue $127,425 3 1 1878 588 1855 ONEST 11/1312009 28 28 5320 Colfax Avenue $117,000 3 1 1414 $83 1947 ONEST 12/3012009 38 30 6816 Bryant Avenue $131,000 3 1 1491 $88 1956 ONEST 12/28/2009 58 68 5909 N Emerson Avenue $138,000 2 2 1106 $125 1950 ONEST 09/30/2009 177 177 Averages, 84,33E 2.6 1.4 1286 $2,6E6 1950 ! 47 108 i Hpr U5 eU1U 1:UUHM HH LHSLRJLI FHX P.1U CEL Monton, LLC Profit & Loss 3640 FREMONT Jan - Doe 09 Ordinary IncomwExpense Income 4100 Rental income 11,850.00 Total Income 11,550.00 Expanse 3100 - Insurance 6110 • Property Insurance 999.90 Total 6100 - Insurance 999180 6200 • Interest expense 5220 - Loan Interest 4,354.17 Total 5200 • Interest Expense 4,354.17 6300 • Repairs 1,760.00 IDOO • MATERIALS 522.12 6200 • Taxes 0230-Property Taxes 2,476.62 Total 6200 • Taxes 2,476.82 Total Expense 10,112.81 Not Ordinary Income 1,437.19 Net Income 1,457.19 Pago 1 1 Review Of 5640 Fremont Ave N PID# 01 118 2132 0117 For Cel Mouton LLC 2010 Board of Appeal and Equalization y . 5 x 4 i I , ,a I,I ill Il I I City of Brooklyn Center A Millennium Community T0: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID# 01- 118 -21 -32 -0117 Cel Monton LLC 5640 Fremont Ave N. Brooklyn Center, MN 55430 A representative of Edlich Realty contacted the 2010 Local Board of Appeal and Equalization regarding the 2010 estimated market value of the property located at 5640 Fremont Ave N. by telephone on April 8, 2010. This property has a 2010 estimated market value of $122,700, and an improvement of $2,500. The board directed Mr. Edlich to schedule an appointment for an interior review with the Assessor's office. An interior review of the property was completed on April 21, 2010, with Mr. Doug Wahl. The subject property is a 1,072 sq. ft. rambler with a two car attached garage in average condition. The main level includes a living, kitchen, two bedrooms, one full bath, and one other room that was a converted breezeway. The basement includes two egress windows and a stool, but has rudimentary finish at best, and carries no value. There are no legal bedrooms in the lower level. The property has a new gas forced air furnace, and no central air conditioning. New improvements to this home since purchase include a new furnace, and new vinyl siding. After review of the property, changes were made to physical characteristics removing the assumed basement finish, and adding a flat value for stool. After reflecting the characteristic changes, the property calculates an estimated market value of $117,200. As requested, Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was provided to the council in the initial appeal packet from the owner. Three actual documents were provided to the Assessor's office with actual rent figures of $1,050, and a total annual income of $11,550. Due to discrepancies in the numbers, $1,000 was used as the 2009 rent. Additional comments indicated rents were decreasing as owners renew yearly leases. The subject property was purchased in July 2008, but the rental license was not issued until November 12, 2008, therefore, it is assumed that the original lease may not be currently in place at a rent of $1,050. In a discussion with the City Assessor, Mr. Wahl indicated that the tenants were responsible for all utilities, trash removal, maintaining the yard, and snow removal. Due to the lack of reported income, itemization of repair expenses, missing operational expenses and deducted expenses that are obligations of the tenant, the owner's documentation was reviewed, but not felt reliable for use in calculating the income approach. As the majority of single family residential properties in Brooklyn Center are owner occupied, more weight is given to the sales comparable approach rather than the income approach. A market derived income approach of a single family rental property has been included with this report. 6301 Shingle Creek Parkway Recreation and Community Center Phone & TDD Number Brooklyn Center, MN 55430 -2199 (763) 569 -3400 City Hall & TDD Number (763) 569 -3300 FAX (763) 569 -3434 FAX (763) 569 -3494 www.cityofbrooklyncenter.org Mr. Edlich provided a comparative market analysis listing of comparable homes in Brooklyn Center with the initial appeal application for the subject property. A copy of this list was included with this report, as rejection codes and open market sales were noted. The comparative listing provided indicated only three open market sales within the sale study period. The open market sales were; 5843 Emerson Ave N. — Sold 9/30/2009 for $115,000, 5831 Dupont Ave N. — Sold 07/30/2009 for $110,000 and 5909 Emerson Ave N. — 09/30/2009 for $138,000. All other sales listed were rejected for the state sales ratio study. The enclosed sales comparable grid completed by the Assessor's office compares the subject property to three similar homes in Brooklyn Center. Although comparable three is smaller than the subject property, it has been adjusted for size and is considered the most comparable to the subject property in age, style, and quality. Comparable three also has the least amount of adjustments when comparing to the subject property. The enclosed sales comparable detail indicates a range of value for the subject property from $115,306 to $130,267. It is the Assessor's recommendation to reduce the 2010 estimated market value of the property from $122,700 to $117,200, for taxes payable in 2011. Respectfully submitted, Nancy Wojci , SAMA City Assessor SUBJECT PROPERTY 5640 Fremont Ave N Cel Monton LLC PI D# 01- 118 -21 -32 -0117 LAe Nm p 3# ¢Y fi m te a:; Land Characteristics Land Area 10,496 sq. ft. Building Characteristics Style: Rambler 1,072 sq. ft. Main Level Room Count: 5 / 2/ 1 Full Bath Below Grade Room Count: 0 10 / Stool Garage: 2 Car Attached Fireplace: 0 Porches /Decks %Misc.: 2 Egress Windows Central Air Conditioning: None Report Name: Images City of Brooklyn Center Printed: 4/28/2010 PID: 01- 118 -21 -32 -0117 Page: 1 Property Images A 1 e" ,s .rea ntt ,,j „ lil ry,• wr ,, Report Name: Images City of Brooklyn C enter Printed: 4/28/2010 PID: 01-118-21-32-0117 Page: 2 Property Images yrs" Z5 WOM <n W S Y ��a Report Name: Images Printed: 4/28/2010 PID: 01- 118 -21 -32 -0117 City of Brooklyn Center Pa 3 Property Images c I � t,:eE i � ii il�iV Vi I I � III 911, ilil I, z "� Report Name: Taxpayer Inquiry City Of Brooklyn Center Printed: 4/15/2010 Page: I Taxpayer Inquiry Display PID House Nbr Street Name Unit Zip Code 01- 118 -21 -32 -0117 5640 Fremont Ave N 55430 Last Name First Name N Jj Owne Taxpaye Resident CEL MONTON LLC Y Y N Frontage Left Side Rear Side j, ►tigh Side EM Width EM Deuth Property Area Acreage Zoning EjS em to Code School Dist Watershed Yr Built 82 128 82 128 82 128 10,496 0.00 RI 0286 15 1950 Year Ver #Subs Land Value Bldg Value Mach Value Tot Mkt Value Tax Can Hmstd Midvr Rel H rff %Own M 2010 1 1 47,000 75,700 0 122,700 1,227 N N N R 0 N 2009 1 1 58,900 74,300 0 133,200 1,332 N N N R 0 N 2008 1 1 60,900 100,700 0 161,600 1,616 N N N R 0 N Lot: 009 Block: 002 Addition: Reidhead's Addition, Hennepin County Minn. N 82 1/2 FT ' I I LOGIS - Property Datd System - City of Brooklyn Center 4iles on BIC Server* 'CC:%Progrdm Fitesu-ogisu c52 Property ID House# Street Narne Unit 12 Photo(s) on file Today's date: 4232010 1 Sketch(es) on file Release: 1.07.041 1 1 - 6 1 11$ 21 32 0117 ` Address: 5640 I i ra I' Logged on user: JBRENNA _.. _._.: L ,._ , a_ fAssessina -Jill Eirenna fPDSfP Single PID 1 Parcel Searc 2 Clear 3 Print 4 View Photos Parcel Status: ACTIVE + LJ Parcel Administration ++. { Values Administration CAMA Inquiry Values Information Homestead Update Assessmentl'ear: 201p Manual Assessment ManualLand ` Last Appraised Year L Building LMV Update Land Summary Tax Capacities Update __ v_ u TOH Update Dwelling Type: Smily Quality: B07 Style: One LevellRambler ingle Fa Sales Administration TotalGBA: f 1072 Age: 30 Zoning: JR1 Sales Information +4► Sales Ratios Basic Rate: f $49.28 Comparables Informati Adjusted Rate: $49.77 - - -> Ext. Wall F 0.0 Shape %: 1.0 MinMax Codes PricelTime Adjustmen -= Adj. Rate GBA: $53,353 - - -> Add Basement: $9,520 = 952 SgFt @ $10.00 Weight Parameters Ded. Unf.GBA: r $0 = F 0 SgFt @ $30.00 Comparables Batch U ``:j Property Characteristics Adjusted Total: $62,873 Land _ Inspections Additive Amount: $13,041 - - -> Garage: $7,541 Dormers: $0 Patio Doors: $0 Residential Commercial / Industrie Walkout: $0 Air Cond: $0 Decks: $0 Multi- Family Patios: $0 Porches: $0 Pools: $0 Field Card Print -� Inspections Mass Add Baths: $5,500 Fireplaces: $0 Fin.Bsmt: $0 Property Mass Update Total Cost: $75,914 Kitchen: $0 Residential Mass Add CAMA Adjustments %: 9.5 - - -> Depreciation %: 9.5 Influences %: 0.0 q5j� CAMA Inquiry zt Market Value Resider Functional %: 0.0 Economic %: 0.0 Market Va Commer ` Market Value Mini Fa Building Value: $68,700 CAMA Bldg. Mkt. Value: $7E200 Rate Tables - Land Rate Tables Resider Flat Values: $1,500 Land Mkt. Value: $47,000 CAMA - Land Total Mkt. Value: F $117,200 X CAMA - R P.SIrIP-ntiAI X03 ; � _.• �� ��'3 _ x, 1 GIS - Property Data of Brooklyn on : og o_ P1 Property ID House# Street name Unit 1 Photo(s) on file Today's date: 04M 30010 1 Sketch(es) on file Release: 1.07.041 01 118 21 -32- 0117 u � Address: 550 Frem Ave N � Logged on user: KCASTO Single P111) f Assessina - Karen Casto (PDS 1 Parcel Search 2 Clear 3 Print 4 View Photos Parcel Status: ACTIVE CO " Paicel Administration CAMA Parcel Information In Assessor Comments ' Parcel Diuisionin AssessmentYar: gQ10 ManuahAxasmenf MenualLan� Temporary PID Updat Assessor Prciect Updci Building "I 'Land !Summary Assessorinquay :.�,..,.�....0. n g T y pe ' C1rre LevellRambler Taxpayer Inquiry i Dwelli Sir le Fam7 y Qualiky: St "flambl B y 807.. y fl Values Administration TotalGBA y072'" Age. 3© ,Zoning: Rl Values Information iA � Hennepin County T ;; Basic Rate: Homestead Update Adjusted Rate: $49.77 - - -3 Ext. Wall :" 0.0 Shapr X 10 Last Appraised Year L LMV Update Adj. Rate " GBA. " $51353' - - -a Add Basement: $9.520 952 SgFt $10.00 114 Tax Capacities Updatq Cted. llnf.CaBA: $Q = 0 SgFt @ $30.00 Value Notice He [E Q Sales Administration Adjusted Total $2 $73 S Property Characteristics Land i Additive Amount $15.705' $7,541, DcKmers: $t] Patio Doars: $Q inspections . Residential 4IcAUt $© Air Cond: $0 Decks: $0 Commercial./ Industries f?etios $Q +PouPlan' $tl Pools: $t] Multi- Family i Field Card Prink "eths $5,5Q[I FueplaGO: $0 , Fin.Bstn#: $ti,6S 4 CAMA Total Cost $8 5 ?B Kitchen: r $0 CAMA lnquity Market Value Resider` Ad'ustments : 9.5 lnfliences ' Market ValueC ©comer I 9.5 - -'> f.�epieciats?n" 0:0 Market Value ultrt=a Func #ronai 755 M Econorr jc : 0.0 Rate Tables • Land Rate Tables Resider Build g Value: 474.700' LAMA Bldg. Mkt, value " $75.700 CAMA - Land. LAMA Residential,, Flat all Land Mkt. Value: $47.000 t gnsessment Proje - Q Total Mkt: Value: $122,7v0 PraaIA SCPCCmRniC ,,.. iii City of Brooklyn Center PID: 01- 118 -21 -32 -0117 Property Type: R - Residential Value Info: Residential Field Card Property Address: 5640 Fremont Ave N Zoning: R1 YearNersion: 2010/ 1 Printed: 4/23/2010 Lot / Block: 0091002 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Reidhead's Addition, Hennepin County Min Owner(s): CEL MONTON LLC Bldg: 75,700 Version: 1 District: Total: 122,700 Neighborhood: 0054 Exterior' 1 Exterior 2 „ Basemen# 1st Ffoo cif Floor. 3rct Floor Totals' Model: Garage #1 Area (SgFt): 952 Kitchen Rtg: Standard Interior: Interior: Res. Cond: Average Placement: Attached Type: Regular Interior: Plaster Trim: Trim: Dwell Type: Single Family # of Cars: 2 Finished ( %): Trim: Painted Floor: Floor: Int. Layout: Standard Floor Area: 484 Quality: Floor: Wood Avg. Clear. Height: Avg. Clear. Height: Adjacent Property: Equal Condition: Average # of Fireplaces: Avg. Clear. Height: # of Fireplaces: # of Fireplaces: Manual Assess: N Exterior Walls: Vinyl Fplc. Quality: # of Fireplaces: Fplc. Quality: Fplc. Quality: View: Equal Avg. Clear. Height: Fplc. Quality: Actual Age: 1950 Elec. Svc: Standard Arch. /Appeal: Average Htg: Hot water, gas fired Effective Age: 1980 Garage #2 Walkout: Quality: B07 Placement: Walkout Quality: 1st Baths (# /Quality), 2nd Baths (# /Quality) 3rd Baths (# /Quality) Renovated Age: # of Cars: Spa: / Spa: / Spa: / Shape: L- Shaped Floor Area: Dix: / Dix: / Dix: / Functional %: Condition: Full: 1 / Average Full: / Full: / Style: One Level /Rambler Exterior Walls: 3/4: / 3/4: ! 3/4: / Economic %: Basement Baths( # /Qual.) 1/2: 1 112: / 1/2: I Construction: Wood Frame porch Building Areas / Glazed Area: Spa: 1st Room Count 2nd Room Count 3rd Room Count Unfin. 1st GBA: Exterior Walls: Vinyl Dix: / Quality: Unfin. 2nd GBA: Screened Area: Full: / Bedrooms: 2 Bedrooms: Bedrooms: 3/4: / Baths: 1 Baths: Baths: Unfin. 3rd GBA: Exterior Trim Q ualit y : 112: / Family: Other: Other: Unfin. Total GBA: Roof Type: Hip Open Area: Living: 1 Total Rooms: Total Rooms: Quality: Dining: 1 st Floor Area: 1,072 Roof Cover: Shingles Basement Room Count Kitchen: 1 2nd Floor Area: Bedrooms: Other: 1 3rd Floor Area: Patio Baths: Total Rooms: 5 Total GBA: 1,072 Window Type I: Double Hung patio 1 Area: Family: Window Type 2: Quality: Kitchen: Flat Value' Patio 2 Area: Other: Value: 1,500 Air Conditioning: No Quality: Total Rooms: Desc: EGRESS & STOOL Total Rooms Dormer Length: Deck Bedrooms: 2 Deck 1 Area: B w „- , ,_t �slott Gu�ren( Inspectign Baths: 1 Date 07/08/2008 Appraiser ID: 21 Appraiser ID: Livia Dormer Quality: Y 0 Quality: price: $68,000 Appraisal Date: 04/22/2010 Living: 1 Deck 2 Area: #Patio Doors: e 0 Code: 15 Reason: Board of Review Appraisal Date: Quality: Kitchen 1 Desc: Forced Sale Result: Interior Other. 1 Last Interior Inspection: 04/22/2010 Reason: Total 5 Pool Pool 1 Area: Result: Quality: Left Tag: Yes/ No Pool 2 Area Quality: Comments WRAPPED NEW WINDS NORTH SIDE & BACK OF HOME. OLDER WINDS, NO WRAP, SOUTH SIDE & FRONT OF HOME. MFSF. AVG Amenities; EXT COND, SOME PEELING OF WINDOW TRIM 10. COVED CEIL, ARCHED DOORWAYS. EAT IN KITCH W /70S CABS & COUNTER. UPDATED MAIN BATH W /NEWER CT FLR & SURROUND, WINDOW IN SHOWER STALL +DAMAGE TO FLOOR TILE =AVG QUAL. 2 EGRESS +STOOL =F. BSMT FIN 1 POORLY FRAMED RM HAS POTENTIAL TO BE A BR, EGRESS IN THAT SPACE, VERY POORLY FINISHED NV. WATCH FOR FUTURE BSMT FIN. 10 VAL APPEAL. RENTAL I City of Brooklyn Center PID: 01- 118 -21 -32 -0117 Property Type: R - Residential Value Info: Residential Field Card Property Address: 5640 Fremont Ave N Zoning: R1 Year/Version: 20'10/ 1 Printed: 4/23/2010 Lot / Block: 009/002 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Reidhead's Addition, Hennepin County Min Owner(s): CEL MONTON LLC Bldg: 75,700 Version: 1 District: Total: 122,700 Neighborhood: 0054 Land ` - LBhd Laid Attributes Influences Building Dimensions Land Type: Standard Lot Frontage: 82 Park: Gas Length Width Sq Ft Land Quality: B05 -Land Left Side: 128 Park Quality: Paved Street 28 34 952 Area Rating Average Rear Side: 82 On Lake: Sewer Available 10 20 200 Site Rating: Good Right Side: 128 Lake Quality: Water Available 0 0 0 Zoning: R1 Effective Width: 82 On River: 0 0 0 Contamination: Effective Depth: 128 River Quality: 0 0 0 Flood Plain Map Ref: Effective Water: Landscape Quality: Average 0 0 0 PUD Ref: Property Area (SgFt): 10,496 0 0 0 Allowable Units: Acreage: Not Buildable: N Excess Land (SgFt): Adjacent Owner: N Usable SgFt Flood Plain: N Flat Desc: Zoning Variance: N Flat Amount: Manual Land: N 28' 22' O G� 4' ge �+ 12' First Floor 1072' r 22' I I i :.. 28' 28 _ d Basement "v p7 952' Cl) 28' Sketch by Apex IV"' Report Name: City of Brooklyn Center Printed: 4/28/2010 Sales Comps Details Sales Comps Details Page: 1 Item Subject Comnl Coma2 Com J6 7 PID 0111821320117 0111821230092 3611921340055 0111821220022 Address 5640 Fremont Ave N 5831 Dupont Ave N 6206 Colfax Ave N 5909 Emerson Ave N District Sale Price $68,000 $110,000 $155,000 $138,000 Sale Date 07/08/2008 07/30/2009 05/29/2009 09/30/2009 Cash Equivalent $148,025 $135,400 Price Per Sq. Ft. $63.43 $127.31 $140.18 $154.57 Dwelling Type Single Family Single Family Single Family Single Family Style One Level /Rambler One Level/Rambler One Level /Rambler One Level/Rambler Property Area 10,496 11,390 10,050 10,050 Actual Age 1950 1955 1955 1950 Effective Age 1980 1980 1985 1985 Quality Class B07 B07 B07 B07 1st Floor Area 1,072 864 1,056 876 Total GBA 1,072 864 1,056 876 Finished Area 1,072 1,296 1,848 1,452 Basement Area 952 864 1,056 768 Basement Finished ( %) 50% 75% 75% Total Bedrooms 2 3 3 3 Total Bathrooms 1 1 2 2 Garage 1 Floor Area 484 280 352 308 Garage 1# of Cars 2 1 1 1 Garage 1 Placement Attached Attached Detached Attached Total # of Cars 2 1 1 1 Walkout Type Air Conditioning No Central Central Central Pool Area -Total Fireplaces Deck Area -Total Porches River Lake Influences Thru Street Sq. Ft. Adj $48,285 $8,709 ($269) $6,639 Add Bsmt Adj $8,616 $883 ($1,205) $1,474 Ded Unfin GBA Adj Site Adj $47,000 Garage Adj $6,825 $2,665 $1,673 $2,110 Walkout Adj Patio Adj ($125) ($153) Bath Adj $4,978 ($1,735) ($7,112) ($6,182) Air Conditioning Adj ($1,611) ($1,964) ($1,674) Porch Adj Fireplace Adj Deck Adj Fin Bsmt Adj ($3,480) ($10,312) ($7,500) Misc. Adj Total Adj $115,704 $5,306 ($19,342) ($5;133) Market Adj Value $115,306 $128,683 $130,267 i { Comp 2 4 sku or W Wh Rw N soap AV* N Pw* ift h,,. N (;gip z3 ko M � w ltkl Cam ° spot w4 N AL ,u� seen A N s '' 3 i A" N T_ 37th Am N f f N Sft A" N RD ►' e N _ _ , 2014 �9 10A 14 ldt COMPARABLE SALES MAP COMPARABLE #1 5831 Dupont Ave N COMPARABLE #2 6206 Colfax Ave N COMPARABLE #3 5909 Emerson Ave N Report Name: Saleslnforrtiatian City of Brooklyn Center Printed: 4`29 Sales Information Report Pale; 1 01- 118 -21 -32 -0117- 5640 Fremont Ave N Sale Da Sale Price Cash Eguiv Safe Typs Sale Ratio Comments A s Ir yff 01 JrPLNer 0710812(08 $68,000 $0 01 Warrant) Ikeed 15 _ Forced Sale 2009 1 2010 1 0310112()£15 $164,9(X) $0 01- Warranty Dee 99 - C onveraioft -X Salts 26 2005 1 0 t) 12/01, $138,tN}Ci $0 11- Other 00 - Good SaIr 2005 1 , 0 €') OT , 01/2000 $127 $0 11- Other 00 - Good Sale: N =1901 2()(15 1 0 0 0710 U2(XX) $46,500 $0 11- Other 99 - Con Sales PAYOFF 2W5 1 () () 07/0111998 $46,500 $0 1.1- Other 99- Conversion -X Sales A'T`1 "C7RNEY /ESTATE 2{)05 1 0 0 05°0111997 $40,1 30 $0 11- Other 99 - Conversion -X Sales E STATE S ALF. 2005 1 €) 0 I I Report lathe. Permit Ust City of Brooklyn Center Prink l; C14, Page: I Pert List . Permit List for: 5640 Fremont Ave N Perin l # VW }glue &r11111... UM Sub I Work 1 ypt RMription Cancliltj 11ed a final Dal l Ugadl Dat5 L3lalratlia p &ja " 8 [juldIw�lLl& l3C'036922 $1 -500 Building Residential Single Famil Replace replace siding 1012402 008 1111:12O 9 tit `a334356t0 $ 4,280 Mahar is al Furnace Replace C iS`FAIA_ NEW 09+ l _2i2t it wi,16 0OX F1.1RNACL AND DUCTWORK I WO06485 $500 Plumbing Rcsitlential Replace GAS GRILL 0612511tX* O&30211496 B( 00547416 $3,55 Building Rcksidential SingleFaaaaal Replace TEAR-OFF 1 #a.' »t1,'I99i 03/14A996 Permit Count: 4 i CITY OF BROOKLYN CENTER LICENSE INFORMATION ' P11), 01118. 13 2011' License Information: License Number: 01004202 License Status: A License Type: Rental License Location: Business Applicant: Company: Douglas Allen Wahl Business Address: 1845 Stinson parkway NE, Business City: Minneapolis Business State: MN Business Zip: 55418 Telephone: 5127828888 Assigned Dates: Applied: 9/2/2008 Inspected: 9/19/2008 Council: 11/10/2008 Issued: 11/12/2048 Expiration: 9/30/2410 2010 INCOME APPROACH ANALYSIS Single Family Residential Rental YEAR OF CONSTRUCTION: 1950 PIQ: 01- 118 -21 -32 -0117 Owner(s): Cel Monton LLC 5640 Fremont Ave N. Brooklyn Center, MN ACTUAL MARKET Unit Type # Bedrooms RENT RENT 0 STUDIOS $0 $0 0 1 BEDROOMS $0 $0 1 2 BEDROOMS $1.050 $1,000 0 3 BEDROOMS $0 $0 0 4 BEDROOMS $0 $0 2 Garages $0 $70 Garage stalls included in rent MONTHLY ADJ. RENT $1 ,070 TOTAL ANNUAL ADJ. RENT $12,840 GROSS BUILDING AREA 1.072 LAND AREA 10,496 CAPITALIZATION PROCESS MARKET POTENTIAL GROSS RENT (PGI) % OF PGI $12,840 LESS VACANCY & COLLECTION LOSS % OF PGI - 2,00 °;fir ($257) OTHER MISC INCOME 1,00% $128 (Application Fees & Late Fees) EFFECTIVE GROSS INCOME $12,712 LESS: ANNUAL EXPENSES: Insurance 4.50% (w a) Rental License - 3,00% ($385) Maintenance.& Cleaning -5,00% ($642) Reserves for Repairs 2.00 ($257) TOTAL ALLOWANCE - 14.50 ($1,605) ANNUAL NET INCOME $9,245 RETURN ON & OF PERSONAL PROPERTY $9,500 HOUSEHOLD @ ($180) NET INCOME TO REAL PROPERTY $9 CAPITALI ATION CAPIITALIZATION RATE 6.00% EFFECTIVE TAX RATE AVERAGE 1.66% " OVERALL CAP RAPE 7.66% 7.66% 2010 CAPITALIZED VALUE OF PROPERTY $918,339 For Ad Valorum Tax Calculations, property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation. Monthly rent dgea not include utilities. Tenants are responsible for paying water, gas, electric, garbage, maintaining lawn and snow removal, ,.' upm HP LHSLRJE I FHX P.8 Compar M Ana lysis Friday, April 9, 2010 Summary of Comparable Listings This page summarizes the comparable listings contained In this market analysis, Sold Listings Address Price Bde 8th TFSF 118q Built Style Sold Data : DOM CDOM S= 6360 James Avenue z I $83 ,000 5 2 2062 $40 1954 ONEST 08/2112009: B 187 5524 Dupont Avenue t $25,000 1 1 491 $51 1947 ONEST 09/24/2009: 23 39 5651 Girard Avenue 15 $25,000 1 1 784 $33 1960 ONEST 091=009i 135 319 5327 Colfax Avenue lJ $37,000 2 1 650 $57 1941 ONEST 07/2812009! 66 65 6409 Fremont Avenue 3 $29,000 2 1 772 $38 1920 ONEST 11/16/20091 112 112 5420 Emerson Avenue iS $42,096 4 2 1400 $30 1941 ONEST 08/1212009; 40 40 6821 Humboldt Avenue $41,000 3 1 1125 $36 1853 ONEST 07!20/2009; 41 230 5828 Fremont Avenue '%I "k-'ft, 5 $66,000 3 1 1095 $60 1960 ONEST 0112212016 28 28 5637 Irving Avenue $75,000 3 1 976 $77 1956 ONES'/ 09/18/2009 41 41 5838 James Avenue 3 $69,900 2 1 gaa $81 1954 ONEST 08/29/2009 _ 11 11 5701 Emerson Avenue i.i $85,000 4 2 1504 $43 1962 0 NEST 08/18/2000! 12 12 5819 Knox Avenue 15' $56,000 3 2 1825 $34 1955 ONEST 06/0512009 42 144 5408 Colfax Av.9nue 1 $88,000 3 1 1040 $85 1958 ONEST 071011/20091 4 4 5537 Camden Avenue 15 $84,000 3 1 1088 $79 1957 ONEST 08/18!2009 1 81 350 5425 Humboldt Avenue 7- $86,000 4 1 1830 $40 1955 ONEST 10/30/2009 14 14 1208 57Th Avenue r- - $82,817 3 2 1482 $43 1953 ONEST 07/23/2009 21 205 5508 Fremont Avenue 011L 5 $80,000 3 2 1800 $50 1958 ONEST 08/2012009 42 42 6800 Irving Avenue 15 $74,900 2 1 1383 $54 1955 ONEST 02/25/2010 ; 2 2 5712 Colfax Avenue 2 $88,300 3 1 912 $95 1955 ONEST 11117/2009 i 7 7 6413 Logan Avenue IS $79,900 3 2 1730 $46 1954 ONEST OB/0712009 1 80 80 5431 Irving Avenue r 588,600 3 2 1405 $63 1955 ONEST 03/09/2010 11 34 5410 Girard AvenueG001:: $105,000 3 1 1196 $88 1932 ONEST 02/26/2010 7 7 5635 Aldrich Avenue/ 5 $105,000 4 2 1786 $59 1931 ONEST 11125/2009 40 230 5843 Emerson Avenue6 $115,000 2 2 1290 $89 1961 ONEST 09/3012009•' 3 3 6344 James Avenueemmic -m-s $92,500 3 1 1612 $5T 1954 ONEST 03/0312010; 53 110 5707 Girard Avenue $106 3 2 1778 $80 1952 ONEST 02/25/2010 11 386 5401 James, Avenue Z4 $97,440 2 2 1300 $75 1954 ONEST 07/23/2009 ; 46 48 5350 Knox Avenue 15 $100,000 3 1 1 il00,00t 1954 ONEST 11/17/2009 100 100 6328•Emerson Avenue L.ODQ $109,000 2 1 938 $118 1938 ONEST - 10123/20091: 191 547 5828 Fremont Avenue 6PmAk - mc - S $56,000 3 1 1096 $60 1950 ONEST 02/0212010 ! 3 6828 Logan Avenue&000 $107,500 2 1 775 $139 1951 ONEST, 0311t3120i0 18 84 5840 Knox Avenue ZL.v $112,000 2 2 945 $119 1950 ONEST 02!3912010 ' 67 67 5830;FromontAvenue <: l} $122,000 3 2 1869 W6 1955 OAiEST 121W/2009J1% 19 10 --5831 Dupont Avenue -n $110,000 3 1 1128 $98 1955 ONEST 07/30/2009.i� 22 196 1201357Th Avenue mLi $120,000 3 2 1482 $82 1953 ONEST 03/01/2010 1 39 39 6449 Colfax Avenue V - ) $122,450 3 2 1874 $85 1935 ONEST Ot/1212010 1 188 168 5419 Irving Avenue GOOD $127,425 3 1 1678 $88 1956 ONES'r 1111312009 1 28 28 5320 Colfax AvenueC-Ooa $117,000 3 1 1414 $83 1947 ONEST 12/30/2009 38 38 6815 Bryant Avenue Z $131,000 3 1 1491 $88 1966 ONEST 12/28/2009 ; Be 66 5909 N Emerson- Avenue ("P $138.000 2 2 1106 $125 1950 ONEST 09/30/2009 ;1_ 177 177 Averages; SU.338 2.8 1,4 1268 $2,686 1950 ! 47 108 i i 1 Apr 09 2010 12:57PM HP LASERJET FAX p• . CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19, 2010 through April 8, 2010 You must return this application by April 9, 2010, to be placed on the Agenda for the Local Board of Appeal and Equalization held April 19, 2010 at 7:00 P.M. Name(s) !'��G�i t/c L Daytime Contact Number Property Addres _ /rg/ 4 AIJ Property Identification Number Assessor's 2010 Estimated Market Value l Is your property residential, commercial or multi - family? If you are appealing a commercial, multi - family or residential rental propelk you must Include Income ind expense data for calendar year 2009 with your application. What is the reason you are appealing your 2010 assessment? cti+ lea. f C::.. /A -,J h e,µ.f'.s ,hie% 4 4,:j I[ c �.� ./� C R /� / / .i�rV — /./f./`Ca lL�/� 6Y • ,'ii'L'/ I S 1 When did you purchase your home? Date of Purchase 7 S- Purchase Price " Did you purchase your property from a bank, as a foreclosure or short sale? Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. /u'Z Have you had a recent appraisal for refinancing, purchase or a market analysis by a real estate agent completed within the last year ?. If so, what was the determination of value? N /A6' t nk e c " ' to 7s e What do you think the market value of your property should be? 1.0 i A- Please provide any documentation supporting your claim of overvaluation or erroneous classification with this application. In order to appeal your valuation an_papointmeht to view the property will be required F Apr 09 2010 12:57PM HP LRSERJET FAX p•2 x Comparative Market Analysis Friday, April 9, 2010 Summary of Comparable Listings This page summarizes the comparable listings contained In this market analysis. Sold Listings Address Price 8th 8th TFSF $Mq Elulit Style Sold Date DOM CDOM s- 5350 James Avenue $B3,000 5 2 2052 $40 1954 ONEST 08212009 8 187 5524 Dupont Avenue $25,000 1 1 491 $51 1947 ONEST 09124/2009 23 39 5651 Girard Avenue $25,000 1 1 764 $33 1950 ONEST 09!1512009 135 319 5327 Colfax Avenue $37,000 2 1 B50 $57 1941 ONEST 0728/2009 65 85 5409 Fremont Avenue $29,000 2 1 772 $30 1920 ONEST 11/16/2009 112 112 5420 Emerson Avenue $42,085 4 2 1400 $30 1941 ONEST 0t3M2/2009 : 40 40 5521 Humboldt Avenue $41,000 3 1 1126 $36 1953 ONEST 07/20/2009 41 230 5826 Fremont Avenue $55,000 3 1 1095 $50 1950 ONEST 01/2212010 28 28 5637 Irving Avenue $75,000 3 1 976 $77 1965 ONEST 0911842009 41 41 5836 James Avenue $59,900 2 1 988 $61 1954 ONEST 082912009 11 11 5701 Emerson Avenue $66,000 4 2 1504 ;43 1952 ONEST 08/1$12002 12 12 5819 Knox Avenue ¢55,000 3 2 1825 $34 1955 ONEST 0610SM009 42 144 6406 Colfax Avenue $88,000 3 1 1040 $65 1958 ONEST 07/01/2009 4 4 5537 Camden Avenue $64,000 3 1 1066 $79 1957 ONEST 0611812009: e1 350 5425 Humboldt Avenue $05,000 4 1 1630 $40 1955 ONEST 10130/2009 14 14 1208 67Th Avenue $62,817 3 2 1452 $43 1953 ONEST 07/23/2009 21 205 5508 Fremont Avenue $80,000 3 2 1800 $50 1956 ONEST 08120!2009 42 42 5800 Irving Avenue $74,900 2 1 1383 $54 1955 ONEST 02/2512010 2 2 5712 Colfax Avenue $88,300 3 1 912 $95 1955 ONEST 11/1712009 7 7 5413 Logan Avenue $75,900 3 2 1730 $48 1964 ONEST 08/07/2009 60 90 5431 Irving Avenue $88,500 3 2 1405 $03 1955 ONEST 03/08/2010 11 34 6410 Girard Avenue $105,000 3 1 1196 $88 1932 ONEST 02/26/2010 7 7 5835 Aldrich Avenue $106,000 4 2 1785 $59 1931 ONEST 1 V2512009 40 230 SB43 Emerson Avenue $115 2 2 1290 $89 1951 ONEST 0613012009: 3 3 5344 James Avenue $92,500 3 1 1612 $57 1954 ONEST 03/03/2010 03 110 5707 Girard Avenue $106,000 3 2 1778 $00 1952 ONEST 02125/2010: 11 385 5401 James Avenue 397,440 2 2 1300 $75 1954 ONEST 07123/2009 4B 48 5350 Knox Avenue $100,000 3 1 1 1100,00( 1964 ONEST 11/172009 100 100 5328 Emerson Avenue 5109,000 2 1 936 $116 193e ONEST 10123/2009 191 547 5828 Fremont Avenue $55,000 3 1 1095 $50 1950 ONEST 02/02/2010 3 5820 Logan Avenue 5107,500 2 1 775 $139 1951 ONEST 03116/2010 18 64 5840 Knox Avenue $112,000 2 2 945 5119 1950 ONEST 02/262010 57 57 5630 Fremont Avenue $122,000 3 2 1869 $85 1966 ONEST 12/3012009 19 19 5831 Dupont Avenue $110,000 3 1 1128 $98 1955 ONEST 07/3012009 22 196 1208 57Th Avenue $120,000 3 2 1462 $82 1953 ONEST 031012010 39 39 5449 Colfax Avenue $122,450 3 2 1874 $85 1936 ONEST 0111212010. 168 168 5419 Irving Avenue $127,425 3 1 1875 Sea 1955 ONEST 11/13/2009 28 28 5320 Coltax Avenue $117,000 3 1 1414 $83 1947 ONEST 1213=009 36 36 5815 Bryant Avenue $131,000 3 1 11491 $BB 1955 ONEST 12/28/2009 56 56 5909 N Emerson Avenue $138,000 2 2 1106 $125 1950 ONEST 08/30/2009 177 177 Averages: $84,330 2.6 1 A 1266 52,686 1460 47 108 I Hpr Ub eU I U 12: b - /VM HV LHbENJE I F H?S p. j 1:00 Pm 5739 James 04/0911 0 Profit & Loss Cash Basis January through December 2008 Jan - Dec OQ Ordinary IncomelExpenee Income 4100 • Rental income 1,250.00 4200 • Fee income 4280 • Application Fees 25.00 Total 4200 • Fee Income 25.00 Total Income 1,275.00 Expense 5800 • Repairs 5,258.33 $400 - Utilities 6460 - Trash Removal 368.w Total 5400 - Utilities 368.68 0200 • Taxes 8230 • Property Taxes - 177.83 Total 8200 - Taxes -177.93 Total E.xpenae 3,449.08 Net Ordinary Income - 4,174.08 Net Income - 4,174.04 Pape 1 Review Of 5739 James Ave N PID# 02 118 2114 0033 For RiFive Investments LLC 2010 Board of Appeal and Equalization e a Y City of Brooklyn Center A Millennium Community TO: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID# 02- 118 -21 -14 -0033 RiFive Investments LLC 5739 James Ave N. Brooklyn Center, MN 55430 A representative of Edlich Realty contacted the 2010 Local Board of Appeal and Equalization regarding the 2010 estimated market value of the property located at 5739 James Ave N. by telephone on April 8, 2010. This property has a 2010 estimated market value of $133,900. The board directed Mr. Edlich to schedule an appointment for an interior review with the Assessor's office. An interior review of the property was completed on April 21, 2010, with Mr. Doug Wahl. The subject property is a 1,440 sq ft expansion with a two car detached garage in good condition. The main level includes a living, dining, kitchen, two bedrooms, and one full bath. The dining room of this home is a one story over crawl, vaulted rear addition with hard wood floor that opens to the updated kitchen. This addition was constructed in the mid 1990's. The second level comprises one large bedroom. The basement finish is sheetrock interior walls, ceiling the and a concrete floor, finished as a family room. There are no legal bedrooms in the lower level. The property has a gas forced air furnace, and central air conditioning. Recent updates to the home include an updated main bath with new ceramic tile floor and surround, and new fixtures, as well as siding and roof repair. After review of the property, changes were made to the physical characteristics removing value for dormers and instead calculating that square footage as second floor area. An update to the bath quality was also noted. After calculating the characteristic changes, the property has a n estimated market value of $137,000. As requested, Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was provided to the council in the initial appeal packet from the owner. Three actual documents were provided to the Assessor's office with actual rent figures of $1,195, $1,200 and a total annual income of $1,250. Due to discrepancies in the numbers, the $1,200 amount was used as the 2009 rent. Additional comments indicated rents were decreasing as owners renew yearly leases. The subject property was purchased in July 2009, but the rental license was not issued until November 10, 2009, therefore, it is assumed that the original lease amount is currently in place at a rent of $1,200. In a discussion with the City Assessor, Mr. Wahl indicated that the tenants were responsible for all utilities, trash removal, maintaining the yard, and snow removal. Due to the lack of reported income, itemization of repair expenses, missing operational expenses and deducted expenses that are obligations of the tenant, the owner's documentation was 6301 Shingle Creek Parkway Recreation and Community Center Phone & TDD Number Brooklyn Center, MN 55430 -2199 (763) 569 -3400 City Hall & TDD Number (763) 569 -3300 FAX (763) 569 -3434 FAX (763) 569 -3494 w w w. cityo fb rooklyncenter. org reviewed, but not felt reliable for use in calculating the income approach. As the majority of single family residential properties in Brooklyn Center are owner occupied, more weight is given to the sales comparable approach rather than the income approach. A market derived income approach of a single family rental property has been included with this report. Mr. Edlich provided a comparative market analysis listing of comparable homes in Brooklyn Center with the initial appeal application for the subject property. A copy of this list was included with this report, as rejection codes and open market sales were noted. The comparative listing provided indicated only three open market sales within the sale study period. The open market sales were; 5843 Emerson Ave N. —Sold 9/30/2009 for $115,000, 5831 Dupont Ave N. — Sold 07/30/2009 for $110,000 and 5909 Emerson Ave N. — 09/30/2009 for $138,000. All other sales listed were rejected for the state sales ratio study. The enclosed grid completed by the Assessor's office compares the subject property to three similar homes in Brooklyn Center. Comparable number three is considered the most comparable to the subject property in age, size, and quality. Comparable number three also has the least amount of adjustments in comparing to the subject property. The enclosed sales comparable detail indicates a range of value for the subject property from $135,952 to $143,912. It is the Assessor's recommendation to increase the 2010 estimated market value on this property from $133,900 to $137,000 for taxes payable in 2011. Respectfully submitted Nancy Wo cik, SAMA City Assessor I SUBJECT PROPERTY 5739 James Ave N Rifive Investments LLC PID# 02- 118 -21 -14 -0033 s ' t Land Characteristics Land Area 10,125 sq. ft. Building Characteristics Style: Expansion 1,440 sq. ft. Above Grade Room Count: 6 / 3 / 1 Full Bath Below Grade Room Count: 1 / 0 Bd / 0 Bath Garage: 2 Car Detached Fireplace: 0 Porches /Decks /Misc.: Deck Central Air Conditioning: CAC Rdport Name: Images Cit y y of Brooklyn Center Printed: 4/28/2010 PID: 02- 118 -21 -14 -0033 Page: 1 Property ,Images { n , i a �ry Report Name: Images City of Brooklyn Center Printed: 4/2812010 PID: 02- 118 -21 -14 -0033 Page: 2 Property Images 9 i0;i a ^- a i Report Name: Images Cit y y of Brooklyn Center Printed: 4/28/2010 PID: 02- 118 -21 -14 -0033 Page: 3 Property Images 9 Report Nance: "Taxpayer Inquiry City of Brooklyn Center 1 4 15;'2010 Page: 1 Taxpayer Inquiry Uisolay Pill Hilun Is hi , t N aMe erode LLD 02- 118 -21 -14 -0033 5739 James Ave N 55430 Last Name Eirst Name Mi Owner Taxpave Hoident Rifive Investments L L.0 Y Y Frontage Left Side Rear Side Higbi Side EM Width M 111p& ProVIEU Area o Zoning PL Exempt Code hebog Dist Watershed Yr B uilt 75 135 75 135 75 133 10,125 0,00 R1 0286 15 1952 UU YCL LUO, LaUd Value Bits Alai W Mach Villu TQj Nkt Valu Casa L1 , 1151d dL Rel H ta %Ow ti 2010 1 1 47,000 86,900 0 133,900 1,339 N N N R (I N 2009 1 1 58,900 $5,900 0 144,800 1 N N N R 0 N 2008 1 1 60,900 111,500 0 172,400 1,724 Y N N R 100 N Lot: 001 Block: 000 Addition: Ber strc 's Addition N I i .,..»+ LOGIS - Property Data System - City of Brooklyn Center Tiles on BC Server.- <Vrogram Litestt ogtsMS�cs ,, LAMA Inquiry I y ' s �• — :i •sec : E #� E Ea �: # ! # E E E # s p z 3' Y Y r i E ! Y, LOGIS - Property Datd System - City of Brooklyn Center -Fites on BC Server- <C:Tvo&rdm Fites�LogislPDS cs> ry ,ry a4c, 04A Releaat�, 16 07,041 4 �2 11 B 2t 14 0033 dG Lid user. S Pte'! Stat us. ACTIVE 7777t 7 k .s e s as U OP d k ' � b( } • l F rw�w+�w,rw+r uk, tau �A-. p T C it�aa'U� ! lrrlf so 0 qft @ $30-00 hand" #; .. 'N i . # �E C? CI °s r P u / 1 C04 Ek f 3 ^k"�y�' kE ^., �� A F : ,.+ s�q NEB. �? a yf ,s o 400 W G w 5 , gg L E 0 f ,'' ?. x ! �r � ` y f ,w» ; , q SA fin.. g ,' '..9ro 1, r S am , . Ow R 777777 0% 7 u mam City of Brooklyn Center PID: 02.118- 21.14 -0033 Property Type: R - Residential Value info: Residential Field Gard Property Address: 5739 James Ave N Zoning: R1 Year/Version: 20901 1 Printed 4/2312010 Lot i Block. 0011000 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2090 Addition: Bergstroms Addition Owner($): Rifive investments LLC Bldg: 85,900 Version: 9 District Total 133,900 Neighborhood: 0054 Ext i 2 r rnent TON :. Garage 1i1 Model: Area (SgFt): 832 Kitchen Rig: Standard Interior: Sheetrock Interior. Res C ond: Average Placement: Detached Type; Regular Interior. Plaster Trim: fainted Trim:. Dwell Type: Single Family # o f Cars, 2 Finished (%): 50 Trims Painted Ploy, Carpet Floor: int, Layout, Standard Floor Area: 484 Quality; Average Floor: Wood Avg, Clear, Height: Avg. Clear, Height: Adjacent Property: Equal Condition Average # of Fireplaces: Avg. Clear. Height: # of Fireplaces: # of Fireplaces: Manual Assess: N Exterior Wa IIs Vinyl Fptc. Quality: # of Firepiaees: Fps. Quality: Fplc, Quality, . View: Equal Avg. Clear, Height:. Fp, Quality: Actual Age: 9852 Elea, Svc: Standard Arch, /Appeal: Average Garage #2 Htg Forced air, gas fired Effective Age; 1980 Walkout: Quality: 805 Placement Walkout O ality: 1,st . ( *Quality) 2nd Baths (0iQuaiity) 3rd Baths (#/Quality) Renovated Age. # of Cars: f / / Shape: L - Shaped Floor Area: Dix / Dix / Dix: 1 Functional W Condition. Fult 1 / Very Good Fult 1 Full: Style: 11/4 Exterior Walls; 314; f 3/4; 1 314: f Economic Ba" ment Saths (IMOuat) 112: / 1/2: 1 1/2: 1 Construction, Wood Frame Porch Spa. / Building Areas Exterior Walls: Metal Glazed Area: Dtx: / tat Room Count 2nd Room Count 3rd Room Count Unfin. 1 st GBA: Quality: Fult 1 Bedrooms: 2 Bedrooms: 1 Bedrooms: Unfirk 2nd GBA: Exterior Trim: Screened Area. 314: 1 Baths: 1 Baths: Baths. Unfin, 3rd GBA. Quality; 1/2: 1 Family. Other: Other: Unfin Total GBA' Open Area Livia 1 Total Rooms. 9 Total Rooms: Rant Type: Gable g= QualitYr Dining: 1 1st Floor Area: 1 <056 Roof Cover, Shingles Basement Room Count Kitchen 1 2nd Floor Area 384 Patio Bedrooms: Other: 3rd Floor Area Window Type I'Double. Hung Baths: Total Rooms. 5 Total GBA: 1,440 Patio 1 Area; Family: 1 Window Type 2 Gliders Quality Kitchen: Flat Value Patio 2 Area: tither; Value: Air Conditioning; Central Quality: Total Rooms: 1 Desc: Total Rooms. Dormeer Length: Cock s m Bedroa 3 silt a ., Baths: 1 Dormer Quality: Deck 1 Areas 224 ��� Family: : 1 y Date. 10/1512009 Appraiser ID: 21 Appraiser Quality: Average ID Living: 1 Price: $1 Appraisal Date: 04/2112010 Patio Doors: 1 2 Area: Code: 23 Reason Board of Review Appraisal Date: Dining 1 Quality: Kitchen; 1 Desc_ Sate < Min $ Amount Result. Interior Other 0 Last Inter Inspectiorx 04/21/2010 Reason: Total: 7 Pal Pool 1 Area: Result: Quality Left Tag: Yes / No Pool 2 Area; Quality Gtantrrtet MFSF. MOST WINDS NEWER, SOME ORIG, ALL WRAPPED, UPDATED MF EXT, DRMRS REMOVED & CALCD IN 2ND FLR SO. FT. VAULTED REAR ADDN ON CRAWL OPENS UP KITCHEN AREA. HWF IN ADDN. UPDATED KITCH Wt BAR, RP CABS, NEWER COUNTER & CT FLR, NEWER CT FLR & SUR IN MAIN BATH. BSMT FIN SHRK INT & BLK EXT WALLS, CEIL TILE & CONCRETE FLR. 09ROOF & SIDING REPAIR.. RENTAL City of Brooklyn Center PID. 02- 11I3 -21 -114 -0033 Property Type: R - Residential Value Info. Residential Field Card Property Address. $739 James Ave N Zoning. R1 YearNers on: 20101 1 Printed; 4J23/2010 Lot J Block. 0011000 Dwelling 'Type. Single Family Land: 47,000 Assessment Year. 2010 Addition: Bergstrords Addition Owrwwisj: Rive Investments LLC Bldg: 86,900 ers+ott� 1 District. Total: 133,500 Neighborhood: 0054 Land, {.. , Attributes Influences Building D i merslart. Land Type. Standard Lot Frontage: 75 Park: Gas Length W idth Sq Ft Land Quality: 805 -Land Left Side: 135 Park Quality: Paved Street 32 26 832 Area Rating Very Good Rear Side:: 75 Can Lake. Sewer Available 16 14 224 Site Rating. Good Right Side: 135 Lake Quality: Water Available 0 0 0 Zoning, R1 Effective Width: 75 On River: 0 0 0 Contamination: Effective D)epttt: 135 River Quality: 0 0 0 Flood Plain Map Ref: Effective Water; Landscape Quality: Ave 0 0 0 PUD} Ref: Property Area ( qFt ): 10,125 Allowable Units: Acreage: Not Bugle: N 0 Q 0 Excess Land ( qFt). Adjacent Owner: N Usable SgFt: Flood Plain; N Flat D3esc. Zoning Variance: N Flat Amount: Manual Land: N I 22 Garage 484 st Af dock 4 212 sf 32' 14- 10` Second F1 car 10 384 14'f 1 32, f=irst Fluor 1056 st Basement 832 st 32 32" %" Report Name: City of Brooklyn Center Printed: 4/28/2010 Sales Comps Details Sales Comps Details Page: 1 Item Su •ect Comot Coma2 Comu3 PID 0211821140033 3411921130048 3611921340021 0111821220034 Address 5739 James Ave N 6519 Chowen Ave N 6101 Bryant Ave N 6023 Dupont Ave N District Sale Price $1 $117,000 $134,400 $142,000 Sale Date 10/15/2009 04/30/2009 08/10/2009 07/09/2009 Cash Equivalent $111,600 $138,592 Price Per Sq. Ft. $124.55 $112.75 $115.49 Dwelling Type Single Family Single Family Single Family Single Family Style 1 1/4 1 1/4 1 1/4 1 1/4 Property Area 10,125 10,125 10,050 10,050 Actual Age 1952 1955 1952 1950 Effective Age 1980 1980 1980 1980 Quality Class B05 B07 B07 B06 1 st Floor Area 1,056 704 832 840 Total GBA 1,440 896 1 1,200 Finished Area 1,856 1,248 1,608 1,830 Basement Area 832 704 832 840 Basement Finished ( %) 50% 50% 50% 75% Total Bedrooms 3 3 3 2 Total Bathrooms 1 1 1 2 Garage I Floor Area 484 352 528 396 Garage I# of Cars 2 1 2 2 Garage 1 Placement Detached Detached Detached Detached Total # of Cars 2 1 2 2 Walkout Type Air Conditioning Central Central Central Central Pool Area -Total Fireplaces I Deck Area -Total 224 280 192 Porches River Lake Influences Thru Street Sq. Ft. Adj $61,068 $18,481 $8,079 $3,008 Add Bsmt Adj $7,530 $1,159 $12 Ded Unfin GBA Adj $9,666 Site Adj $47,000 Garage Adj $6,606 $1,592 ($495) $1,112 Walkout Adj Patio Adj Bath Adj $6,788 ($4,847) Air Conditioning Adj $2,606 $977 $448 $458 Porch Adj Fireplace Adj ($1,790) Deck Adj $1,622 $1,622 ($912) ($612) Fin Bsmt Adj $3,388 $521 ($1,687) Misc. Adj $453 Total Adj $137,061 $24,352 $7,120 $5,320 Market Adj Value $135,952 $141,520 $143,912 `fit+ Rvs ti s.saL+s ,aq x x * 5 �a. 21 3 m. 671 Aw M IM C tnr►t Avs "1 &wd 4ft AV* ; tt A* Aar*# I 2 / I — ', I , "I ,f777 4 0 1 rt#� h .- _ Avw e Mom } i*W AV* 14 NOR i � $" or t or �. l ift Ave t4 i t %W A** w � mar aa ." COMPARAUE SAES MAP COMPARABLE t#1 6519 Chowen Ave COMPARABLE #2 6101 Bryant Ave N COMPARABLE #3 6023 Dupont Ave N Report Name: Saleslnformation Printed: 4:28, 2010 City of Brooklyn Center Page: I Sales Information Report 02-118-21-14-033 - 5739 James Ave N Sate D ot Sale Price Cash Layi Salt T jgg Salt HAti t !c9ttLt11ents 1 YI Ver O Ir O Ver t 0t 15 2009 11 S0 07 - twit Claim Deed 23 - Sate < Alin Arnount 2()10 1 f) 0 07107; 2(0 S47,W0 10 01- Warranty Deed 15 - Forced Sale. 2010 1 t) 0 09'01 x20()2 1150.000 0 11- Other 99 - C Oake ion- X'gales 2005 1 {) 0 ()91'011 1991 $68,90() 10 11- Other 00 - Good Sale lx,,, ,0 2005 1 0 0 08/01/1975 1:33,900 10 l l - Other 00 - Good Sale FROM MLS 2005 1 0 0 Report Name: Permit List of Brooklyn Center C 04/0&/20 16 ��,� Permit List Pale- 1 I'ermit List for- 5739.1ames Arse N Permit# .I'ad YWIM Permit ]')I "vat Work C3:t1s tirscriallull Cauctilrd Ls.sulaj J)A Qcad fiat i Lxpiratinn 13atc H('039114 $750 Building Sid €ng /SofTt /F w Replace lit,4 ROOF ON 08/2,S/2( )9 FRONT OF I Jt Ii( $3.501) Bu €ldin Reaickuwal Single FUDA Replace "fl:AROFlAl"'ROOF 06/2.3111) 08,124/1 B("009291 $780 Building Residential Singe f amil Reniodel/Alteratiou 1INS AI, MICRO 07,124 1 )7 10/24/1997 Fit: >1DER BC'008266 $110 Numbing Residential Rkpltace DISFIWASt EPUSINK 07/12, IW2411997 13t;Ot13g1)I $2,900 mechanical Furnace Replace FURNACE & i C 0911711994 0&3),`1995 14C 003511 1,2(Mi Building Residential Single Vamii Addition DECK o810911995 Permit Count: 6 I I i CITY OF BROOKLYN CENTER LICENSE INFORMATION PID: 021182 / 140033 License Information: License dumber: 01004722 License Status: A License Type: Rental License Location: Business Applicant: Company; Douglas Allen Wahl Business Address: 1845 Stinson Parkway NE, Business City: Minneapolis Business State: MN Business Zip 55418 Telephone: 6127828888 Assigned Dates: Applied: 8/28/2008 Inspected: 9/1712009 Council: 11/9/2009 Issued: 11/10/2009 Expiration: 8/31/2011 2010 INCOME APPROACH ANALYSIS Single Family Residential Rental YEAR OF CONSTRUCTION: 1952 PID: 02-118-21-14-0033 Owner(s) : RiFive Investments LLC 5738 James Ave N. Brooklyn Center, M ACTUAL MARKET Unit Type # Bedrooms RENT RENT 0 STUDIOS $0 so 0 1 BEDROOMS $0 $0 0 2 BEDROOMS $0 $€7 1 3 BEDROOMS $1,250 $1,200 0 4 BEDROOMS $0 $0 2 Garages $0 $70 Garage stalls included in rent MONTHLY ADJ. RENT $1,270 TOTAL ANNUAL ADJ. RENT $15,240 GROSS BUILDING AREA 1,440 LAND AREA 10,125 CAPITALIZATION PROCESS MARKET POTENTIAL GROSS RENT (PGQ % OF PGI $15,240 LESS. VACANCY & COLLECTION LOSS % OF PGI - 2.00% ($305) OTHER MISC INCOME 1.00% $152 (Application Fees & Late Fees) EFFECTIVE, GROSS INCOME $15,088 LESS, ANNUAL EXPENSES: Insurance - 4.50% {$686} Rental License; - 3,001/6 ($457) Maintenance & Gleaning -5.00% ($762) Reserves for Rep »2,00% [$305} TOTAL ALLOWANCE - 14.50% ($1,905) ANNUAL NET INCOME $10,973 RETURN ON & OF PERSONAL PROPERTY $1,500 HOUSEHOLD @ 12% ($180) NET INCOME TO REAL: PROPERTY $10,793 CAPITALIZATION: CAPIITALIZATION RATE 6 -00° EFFECTIVE TAX RATE AVERAGE 1.66% OVERALL CAP RATE 7,66% 7.66% 2010 CAPITALIZED VALUE OF PROPERTY $140,898 . For Ad Valorum Tax Calculations, property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation. Monthly rent dues not include utilities. Tenants are responsible for paying water, gas, electric, garbage, maintaining lawn and snow removal. .'6JNm Hl' L.HSLRJE1 I-HX P.5 Comp • An Friday, April 9, 2010 Summary of Comparable Listings This page Summarizes the comparable Ilstings contained In this market analysis, Sold Listings Address Price Sde 8th TFSF $18q Built style Sold Data DOM CDOM S= 5350 James Avenue z 1 $83,000 5 2 2062 $40 1954 ONEST 08/21/2009: 8 187 5524 Dupont Avenue IS $25,000 1 1 491 $51 1947 ONEST 09/24/2009: 23 39 5851 Girard Avenue 15' $25,000 1 1 7 @4 $33 1950 ONEST 09/15120091 135 319 5327 Colfax Avenue 11) $37,000 2 1 050 $57 1941 ONEST 07/28/2009] 66 85 5409 Fremont Avenue 3 $29,000 2 1 772 $38 1920 ONEST 11/10/20091 112 112 5420 Ememon Avenue (.5 $42,096 4 2 1400 $30 1941 ONEST 06112/2009; 40 40 6821 Humboldt Avenue It $41,000 3 1 1125 $38 1953 ONEST 0742012009; 41 230 5828 Fremont Avenue k - r^` 5 $66,000 3 1 1095 $60 1960 ONEST 01/22/2010 28 28 5637 Irving Avenue $75,000 3 1 976 $77 1066 ONEST 09/18/2009! 41 41 5838 James Avenue 3 $69,900 2 1 988 $81 1954 ONEST 08/29/2009. _ 11 11 5701 EmersonAvenual� $85,000 4 2 1504 $43 1052 ONEST 08/16/2009 12 12 5816 Knox kvenueJS� $66,000 3 2 1825 $34 1955 ONEST 08/0512009'! 42 144 5408 Colfax Avenu6 $88,000 3 1 1040 $85 1958 ONEST 07/01/2009 I 4 4 5637 Camden Avenue 17 $84,000 3 1 1066 $79 1957 ONEST 06/18/2009 ! 81 350 l 14 1 009 4 5425 Humboldt Avenue Z $86,000 4 1 1830 $40 1955 ONEST 10/30!2 . 1208 577h Avenue r-5 $82,817 3 2 1482 $43 1953 ONEST 0712312009; V 205 5508 Fremont Avenue bhkL - mL 5 $80,000 3 2 1600 $50 1958 ONEST 08(2012009 42 42 6800 Irving Avenue 15 $74,900 2 1 1389 $54 1956 ONEST 02!25120101 2 2 5712 Colfax Avenue 3 $88,300 3 1 912 $95 1955 ONEST 11/17/2009 7 7 6413 Logan Avenue 1S $79,900 3 2 1730 $46 1954 ONEST 011107120091 80 80 5431 Irving Avenue r' 586,600 3 2 1405 $83 1955 ONEST 03/09/2010 1 11 34 6410 Girard AvenueG00i:: $105,000 3 1 1190 $88 1932 ONEST 02/26/2010 7 7 5835 Aldrich Avenue /5 $105,000 4 2 1786 $59 1931 ONEST 11/25/2009. 40 230 5843 Emerson Avenue $115,000 2 2 1290 $89 1961 ONEST 09130/2009:r 3 3 5344 James Avenue (pMakL m, s $92,500 3 1 1612 $57 1954 ONEST 0310312010: 133 110 5707 Girard Avenue 3 $108,000 3 2 1778 $80 1952 ONEST 02/25/2010 11 386 5401 James Ave ? -4 $97,440 2 ' 2 1300 $75 1954 ON 07/23/2009 ; 48 48 5350 Knox Avenue 15 $100,000 3 1 1 1100 1954 ONEST 11M712009 `! 100 100 6328.1- mer>som Avenue 600p $109,000 2 1 938 $118' 1938 ONEST - 10/2312009x: 191 547 5828Fremont Ave nus6PNK - $56,000 3 1 1095 $60 1950 ONEST 02210212010 ! 3 .6626 Logan Avenue&ooO $107,500 2 1 775 5139 1961 ONEST 0388/2010 1: 18 84 5840 Knox Avenue ZLv $112,000 2 2 945 $119 1950 ONEST 02/2012010 ' 57 67 5830 Fremont Avenue G�. $122.000 3 2 18H9 $65 1955 ONEST 12/30/2009 ° 19 10 --5831 Dupont Avenuw&. $110,000 3 1 1128 $98 1955 ONEST 07130/2009 i 22 196 1201357Th Avenue zl.t $120,000 3 2 1482 $82 1953 ONEST 03/01/2010 39 39 6449 Colfax Avenue 7 $122,450 3 2 1874 $85 1935 ONEST 01117!2010 188 168 5419 Irving Avenue 6000 $127,425 3 1 1878 $88 1956 ONEST 11/1312009 28 28 5320 Colfax Avenue C .0 $117,000 3 1 1414 $83 1947 ONEST 12/30/2009 38 38 6615 Bryant Avenue u-P $131,000 3 1 1491 $88 1956 ONEST 12/28/2009 58 66 5909 N Emerson Avenue $138,000 2 2 1106 $125 1850 ONEST 09!30/2009 -;I 1 77 177 Averages: $":S3E 2.6 1.4 1288 $2,686 1950 1 47 108 i CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19, 2010 through April 9, 2010 You must return this_ jAapllcation by April 9, 2010, to be placed on the Agenda for the Local Board of Appeal and Equalization held April 19, 2010 at 7:00 P.M. Name(s) 6E�vl�� Daytime Contact Number: Property Address �'! ....- ,c%�v, H✓ Properly Identification Number Assessor's 2010 Estimated Market Value Is your property residential, commercial or multi - family? If you are appealing a commercial, multl -family or residential rental property you must include income Ind expense data for calendar year 2009 with your application. What is the reason you are appealing your 2010 assessment? l fu � //V �s�/ � r• r 1� .►�i '. /' r /JrrJ 1 /,�+ E. V." When did you purchase your home? Date of Purchase Purchase Price d Did you purchase your property from a bank, as a foreclosure or short sale? Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural .damage) Please list a brief description below with an estimated cost. ■ I 'I Have you had a recent appraisal for refinancing, purchase or a market analysis by a r "al estate agent completed within the last year? `fie If so, what was the determination of value? What do you think the market value of your property should be? !J2 /L 04.4 Please provide any documentation supporting your claim of overvaluation or erroneoL S class cation with this application. In order io appeal your valuation an appointment to view the tproper#Y will be reguired f Comparative market Analysis ridgy, April 9, 2010 Summary of Comparable Listings This page summarizes the comparable listings contained In this market analysis. Sold 'Listings Address Price Bds Bth TF8F $18q Built Style Sold Data DOM CDOM S= 6360 James Avenue $83,000 5 2 2D52 $40 1954 ONEST 08121/2 9 8 187 5524 Dupont Avenue $25,000 1 1 481 $51 1947 ONEST 09124/2009 23 39 5851 Girard Avenue $25,000 1 1 764 $33 1650 ONEST 09/1512009 135 319 5327 Colfax Avenue $37,000 2 1 650 $57 1941 ONEST 07/2812009 65 66 5409 Fremont Avenue $29,000 2 1 772 $38 1920 ONEST 11/16/2009 ` 112 112 5420 Emerson Avenue $42,095 4 2 1400 $30 1941 ONEST 05/12/2009 40 40 5021 Humboldt Avenue $41,000 $ 1 1125 $315 1903 ONEST 07120/2009 41 230 5628 Fremont Avenue $55,000 3 1 1095 $50 1950 ONEST 01/Z2/2010- 28 28 6637 Irving Avenue $75,000 3 1 978 $77 1955 ONEST 09/18/20D9 ' 41 41 5838 James Avenue $59,900 2 1 988 $61 1954 ONEST 08/2912009 11 11 5701 Emerson Avenue $65,000 4 2 1504 $43 1962 ONEST 08/18/2009 12 12 5819 Knox Avenue $65,000 3 2 1825 $34 1955 ONEST 08/0512009 42 144 5408 Colfax Avenue $86,000 3 1 1040 $85 1958 ONEST 07/0112009 4 4 5537 Camden Avenue $54,000 3 1 1068 $79 1957 ONEST 06/18/2009 • 61 350 5425 Humboldt Avenue $55,000 4 1 1630 $40 1955 ONEST 1013012009 14 14 1208 57Th Avenue $62,617 3 2 1482 $43 1953 ONEST D712312009 21 205 5508 Fremont Avenue $80,000 3 2 1500 $50 1956 ONEST 08/2012009 42 42 5800 Irving Avenue $74,900 2 1 1383 $54 1955 ONEST 02425/2010 2 2 5712 Colfax Avenue $86,300 3 1 912 $95 1955 ONEST 11117/2009 ; 7 7 5413 Logan Avenue $79,900 3 2 1730 1954 ONEST OBJ07/2009 60 6o 5431 Irving Avenue $88,600 3 2 1405 $03 1955 ONEST 03109/2010 11 34 5410 Girard Avenue $105,000 3 1 1196 $88 1932 ONEST 0212612010 ! 7 7 5835 Aldrich Avenue $105,000 4 2 1785 $59 1931 ONEST 11/25/2008 : 40 230 6843 Emerson Avenue $115,000 2 2 1290 $89 1951 ONEST 09/30/2009 ! 3 3 5344 James Avenue $82,600 3 1 1612 $57 1954 ONEST 03/03/2010 ; 63 110 5707 Girard Avenue $108,000 3 2 1778 $50 1952 ONEST 02125/2010 11 386 5401 James Avenue $97,440 2 2 1300 $75 1954 ONEST 07/23/2009 48 48 5360 Knox Avenue $100,000 3 1 1 000,0D( 1934 ONEST 11/17/2009 100 100 5328 Emerson Avenue $109,000 2 1 938 $118 1938 ONEST 10/23/2009 ! 191 547 5828 Fremont Avenue $55,000 3 1 1095 $50 1950 ONEST 02/02/2010 3 6626 Logan Avenue $107,500 2 1 775 $139 1951 ONEST 03/18/2010 18 64 5840 Knox Avenue $113,000 2 2 245 $119 1960 ONEST 02/28/2010 57 67 5630 Fremont Avenue $122,000 3 2 1868 $66 1966 ONEST 12/3012009 I 19 16 5831 Dupont Avenue $110,000 3 1 1118 $98 1955 ONEST 07/3012009 i t 22 106 1208 57Th Avenue $120,000 3 2 1482 $82 1953 ONEST 03/01/2010 39 39 5449 Colfax Avenue $122,450 3 2 1874 $85 1935 ONEST 01/12/2010 188 188 5419 Irving Avenue $127,426 3 1 1878 $88 1955 ONEST 11/13/2009 i 28 28 5320 Colfax Avenue $117,000 3 1 WA $83 1947 ONEST 12130x1009 36 36 5815 Bryant Avenue $131,000 3 1 1491 $88 1953 ONEST 12/28/2009 i 56 56 5909 N Emerson Avenue $138,000 2 2 1106 $125 1950 ONEST 09!3012009 { 177 177 = Averages: $84,338 2.8 1.4 1266 $2,686 1950 47 108 CEL Monton, LLC Profit & Loss 5"21RVING Jan - Dec 00 Ordinary IncornNMxpenN Expense 9100 • Insurance 5110 - Property insurance 213.87 Total ISM • Insurance 213.87 6800 Repairs 2,378.16 7040 Licenses and Permits 000.00 Total Expense 3,402.03 Net Ordinary Income 3,402.03 Net Incoms -3,482.03 I CI I l I Pepe 1 10:20 AM RiFive 2008 04109110 Profit & Loss Cash Bash 5542 Irving Jan - Dec 09 Ordlnary Income/Expenae Expense BON - Materials 5145.27 Total Expense 515.27 Not Ordinary income - 516.27 Net Incomes - 515.27 Pape 1 Review Of 5542 Irving Ave N PID# 02 118 21 41 0021 For Rifive Investments LLC 2010 Board of Appeal and Equalization it di a j Y� s City of Brooklyn Center A Millennium Community TO: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID# 02- 118 -21 -41 -0021 RiFive LLC 5542 Irving Ave N Brooklyn Center, MN 55430 A representative of Edlich Realty contacted the 2010 Local Board of Appeal and Equalization regarding the 2010 estimated market value of the property located at 5542 Irving Avenue North by telephone on April 8, 2010. This property has a 2010 estimated market value of $119,500. The board directed Mr. Edlich to schedule an appointment for an interior review with the Assessor's office. A review of the property was scheduled on April 21, 2010 with an appraiser from the Assessor's office. The property is a 977 sq. ft. rambler with a one car detached garage in average condition. The main level includes a living room, kitchen, three bedrooms, and one full bathroom. The kitchen area has original cupboards and updated countertop. The bathroom has had minimal updates. The basement finished area is approximately 20% of the basement square footage and includes one bedroom with an egress window. The basement bedroom finish includes sheetrock walls and sprayed ceiling finish. The property has a gas forced air furnace and no central air conditioning. The property was reviewed during the last quintile review in August, 2008. After reviewing the property, characteristic changes were made in removing central air conditioning from the property. After reflecting the characteristic changes the property has a calculated estimated market value of $117,100. As requested, Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was provided to the council in the initial appeal packet from the owner. Three actual documents were provided to the Assessor's office with actual rent figures of $1,100, $1,059 and a total 2009 annual income of $0. Due to discrepancies in the numbers, the average market rent of $1,300 for a typical four bedroom home was used as 2009 rent. Additional comments indicated rents were decreasing as owners renew yearly leases. The subject property was purchased in October 2009, and the rental license was not issued until December 15, 2009. It is assumed that the original lease amount is currently still in place at an estimated rent of $1,100. In discussion with the Assessor Mr. Wahl indicated that the tenants were responsible for all utilities, maintaining the yard, and snow removal. Due to the lack of itemization of typical 6301 Shingle Creek Parkway Recreation and Community Center Phone & TDD Number Brooklyn en N - y Center M 55430 -2199 763 569 3400 City Hall & TDD Number (763) 569 -3300 FAX (763) 569 -3434 FAX (763), 569 -3494 w ww. cityo fbrooklyncenter. org expenses, missing operational expenses and deducted expenses that are obligations of the tenant, the owner's documentation was reviewed, but not felt reliable for use in calculating the income approach. As the majority of single family residential properties in Brooklyn Center are owner occupied, more weight is given to the sales comparable approach rather than the income approach. A market derived income approach of a single family four bedroom rental property has been included with this report. Mr. Edlich provided a comparative market analysis listing of comparable homes in Brooklyn Center with the initial appeal application for the subject property. A copy of this list was included with this report, as rejection codes and open market sales were noted. The comparative listing provided indicated only three open market sales within the sale study period. The open market sales were; 5843 Emerson Ave N. — Sold 9/30/2009 for $115,000, 5831 Dupont Ave N. — Sold 07/30/2009 for $110,000 and 5909 Emerson Ave N. — 09/30/2009 for $138,000. All other sales listed were rejected for the state sales ratio study. The enclosed grid completed by the Assessor's office compares the subject property to three similar homes in Brooklyn Center. The subject property is listed as $116,696, but the additional $500 flat charge for the egress window should be added. This gives the subject property a value of $117,100 for comparison. While the subject property is smaller than the average 1,000 sq. ft. home, adjustments were made to all comparables sales to be like the subject property. for size and amenities. The enclosed comparable sales grid indicates a range of value for the subject property from $114,173 to $130,055. It is the Assessor's recommendation to reduce the 2010 estimated market value from $119,500 to $117,100 for taxes payable in 2011. Respectfully submitted, Nancy Wojcik SAMA City Assessor SUBJECT PROPERTY 5542 Irving Ave N Rifive Investments LLC PI D# 02- 118 -21-41 -0021 PVT Land Characteristics Land Area 9,840 sq. ft. Building Characteristics Style: Rambler 977 sq. ft. Main Level Room Count: 5 / 3 / 1 Full Bath Below Grade Room Count: 1 / 1 / % Bath Garage: 1 Car Detached Fireplace: 0 Porches /Decks /Misc.: 1 Egress Central Air Conditioning: None Report Name: Images City of Br Center Printed: 04/28/2010 PID: 02- 118 -21 -41 -0021 Page: I Property Images A � S , /4 k � y � ` a. •{ k h,. y,: Report Name: Taxpayer Inquiry City Of Br OO klyn Ce nter Printed: 4/15/2010 Taxpayer Inquiry Pa 1 Display PID House Nbr Street Name unit Zill Code U 02- 118 -21 -41 -0021 5542 Irving Ave N 55430 Last Name First Name MI Owner er Tax a Resident Taxpayer � r t RiFive LLC Y Y N Frontage Left t Side Rear Side Right Side E, Width E, Depth Property Area Acreage Zoning pja Exempt Code School Dist Watershed Yr Built 82 120 82 120 0 120 9,840 0.00 R1 0286 15 1955 Year Ve #aubs Land Value Bldg Value Mach Value Tot Mkt Value Tax Cap Hmstd Midvr Rel H // %Own P/C 2010 1 1 47,000 72,500 0 119,500 1,195 N N N R 0 N 2009 1 1 58,900 74,500 0 133,400 1,334 Y N N R 100 N 2008 1 1 60,900 100,200 0 161,100 1,611 Y N N R 100 N Lot: 008 Block: 001 Addition: Hipp's Second Addition ... LOGIS - Property Data System - City of Brooklyn Center 41tes on BIC Server> -CAProgram FitesXLogisXPDS � � Property ll7 11 1 1 Street Flame Unit 1 Photos) on file Today's date 0�M 3 u10 1 Sketches) on file Release: 1.07.0141 - 11 $-21.41 -021 Address: SS42 11 02 0 1r ingAye Logged on user: KCASTO 11 � ���� _ 3 of 4 t'Assessina . - Karen Canto (PPS - 11 i /1r 1 Parcel Seatch Z -Clear 3 Print , A Photos Parcel Status: ACTIVE 11 G ParoelAdm�rustraktcr► 31 % ' aroel t ,of 4....IM6 6. �. ��, tnents ` °� 6116 Assessor Can a , ` , 1. Parcel'Dirtrs AssessmenkYeaF X10 ; Manual�4rs sslaenk ;r Manual La tr 11, Tempr3raryPlD;Updak� Buildrng 6 6 1 Land ;' Surrey 61 Assessor Ptt4�t llpdf 11 'r 1 .�..... Asses$or 11 TaMpayer ingy ;. 1]welling� Type Ssrgle Family Quality: g07 style: One l*evell�F3amtaler R -- Value : ,,nistrat Total SBA 97 Age:. Zoning: , rj Values Infatmak € Nerurepin Caurtr.Trr 3asic Rate, 50.12 Homeskeadpdete, AdtuskedRake,"""" """ 4.' , ` Last ARprsl lY $50.12 E'r '�a� .� , Q 9ha i. O.Q l MV tlpuiat, Adl. Rate" $48<96 Aid as�ment: $9770 87 SgFt $10.OQ 6 1 Tax Capagts ��ttck U GBA. $0 �0gFt $30.00 Value Nobce F� Adtustad T �5& 737 I S ales AdlnatisltallCari z 6616 r p Property:Charaot 11 , " , , , i! aru� Additive �a $20 913 Gala a $5 0 ortners.. $Q Pati 116 "I i 6 Inspectlori$ r Q(04rS; $0 6.1 ReSldenkiai r'� Alt 954 [mss° rr $0 %- , lror I r r t► � � des. _ $> $0 1, 6 Mu1ti•Fi 3 0 ;..... Field Gard Frint' ttr p la $10 0Qt7 ces $0 1=�i lsmt , $3,419 6 16 # CAMA Total Cost $© 666 79 65p K' CAMA lnq�u M;. 6 1 M arkel Valueerder — Adjuskment 9 akipn 0.(1 y. Mar tV ke aloe Cc�rimer 3 5 (luenoa b. x M arket Vahae Mltr F g: or3nr�mic °.: 0.0 11 f R ate T abs Land 1 61 Ptional 0 0 E Rate Tables =`r Buildrrlg' ell $72,t►Otl [AMA BI Mkt a $72.500 CAMA Lard! s 11 CAMA' Re t" ,. Flat Values r ff = $50 _ Land Mkt V $47.004 S! "� 11 + {;� Assessrnenk Ptcye „ 3 Total Mkt Vale $119,50Q 11 [+"! � �,nFr�alAs�- sr�nRrfe S 11 ��� w r e ik'.w�w, w..y �.« , =.� .. , v.,.. a ,,,.., .,, ;n 3:p - d 'r I r 1 Property Data of Brooktyn Center 4ites on r• rg T1 Property t0 douse# Street Name' unit ti Photo(s) on file Today's date: 04f23f2010 1 Sketch(es) on file Release: 1 .U7.041 02 t18 21 41 QQ21 Address: SS42 livingAve Logged on user: KCASTO fAssessina - Karen Casto fPDS 3 of 4 1 Parcel Search" 2 Clear 3 Print 4 View Photos Parcel Status: ACTIVE L ;'- Parcel Administration Parcellnformation In Lni Assessor Comments i Parcel Divisioning „ AssessmentYeat 2Q10 M nualAsxeasment r ManualLem r Temporary PI Updat Assessor Project Updr� ' l Building Land Summary Assessor Inquiry r : Dwelling Type: Single Family " Quality:' BOl Style: One ttvellRambler 1 Taxpayer Inquiry F �El Values Administration f Total GBA 977: Age: 30 - Zoning: R1 Values; Information Hennepin County T ray , Basic Rate $50.12 Homestead Update Adjusted Rate Est. 4+lafl is S �! O.Q hape X D:0 Last Appraised Yeau L LMV Update Adj. Rate "GBA $4fl_%7_ ---? Add Basement: $9.770 977 SgFt $1q.QQ r Tax Capacities Updatr Dad. Unf.GBA: $ _ �0 SgFt @ $3Q Q0 Value No po File � S ales Administration Adjusted,T oral $58.737" Sales Information Sales Ratios. Additive Amaruat 187x_ Drag: $5 Dormers: $IJ Patio Doors: $0 Comparabies Informah_: MirrMax Ccirs Walkout $Q Air Conti: $ti Decks: $Q s ` Price/T F3djustmen P ttos:: = 0 Porches: ' So taols: $0 Weight Parameters Comparebles"Bkch �l Baths;" $1G,t Fireplaces; q Fin t)smt: X2,95 " Property "Characterjtics Total . $7 "7,Qj : Kitchen: $Q Land Inspections . Adjustmenks %:�, 9.5' -, ppreciation �: •9-5 Influences l: 0:A Residential Commercial IIndustri� Func #ianal %: O,CI Economic 0.0 Multi - Family Field Cdrd Print ." BwldinOValue _ $69,6Qt CAMA C�tdg Mkt Value: $7Q,10CI L CAMA CAMA Inquiry F tat Val ues $50Q Land Mkt: Value $47,000 ° Market Value (esiden" r Total Mkt. V,1u�3 , $117.10 M Ark nt VAIWA l'AmmWr = I K,r City of Brooklyn Center PID: 02- 118 -21-41 -0021 Property Type: R - Residential Value Info: Residential Field Card Property Address: 5542 Irving Ave N Zoning: R1 YeatNersion: 20101 1 Printed: 04/23/2010 Lot! Block: 008/001 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Hipp's Second Addition Owner(s): RiFive LLC Bldg: 72,500 Version: 1 District: Total: 119,500 Neighborhood: 0054 �� , Sti. " Model: Garaged , Area (SgFt): 977 Kitchen Rtg: Standard Interior: Interior. Res. Cond: Average .. Placement Detached Type: Regular Interior: Sheetrock Trim: Trim: Dwell Type: Single Family # of Cars: 1 Finished ( %): 20 Trim: Hardwood Floor: Floor: Int. Layout: Standard Floor Area: 352 Quality: Very Good Floor: Wood Avg. Clear. Height: Avg. Clear. Height: Adjacent Property: Equal Condition: Average # of Fireplaces: Avg. Clear. Height: # of Fireplaces: # of Fireplaces: Manual Assess: N Exterior Walls: Wood Fplc. Quality: # of Fireplaces: Fplc. Quality: Fplc. Quality: View: Equal Avg. Clear. Height: Fplc. Quality: Actual Age: 1955 Elec. Svc: Standard Arch. /Appeal Average Htg: Forced air, gas fired Effective Age: 1980 is N e, Walkout: Placement. ) Quality: 607 Walkout Quality: , {* $ ( �)": Renovated Age: # of Cars: Spa: / Spa: / Spa: / Shape: Square Floor Area: Dix: / Dlx: / Dix: / Functional %: Condition: Full 1 / Average Full: / Full: / Style: One Level/Rambler Exterior Walls: 3/4: / 3/4: / 3/4: / Economic %: 1/2: / 1/2: / 1/2: / Construction: Wood Frame p Exterior Walls: Metal Glazed Area ,. D Xa. / 1 RoS tT! 9 (1 '. ..._ £ r1,S1 X09111 C r .... ! fS� S?AIiI1 C 1iln# Unf 2nd GBA Screened Area: Full. ! Bedrooms. 3 Bedrooms. Bedrooms: Exterior Trim: 3/4: 1 / Average Baths: 1 Baths: Baths: Unfin. 3rd GBA: Quality: 1/2: / Family: Other: Other: Unfin. Total GBA: Roof Type: Gable Open Area: Living: 1 Total Rooms: Total Rooms: Quality: Dining: 1 st Floor Area: 977 Roof Cover: Shingle" Kitchen: 1 2nd Floor Area: Shingles Bedrooms: 1 Other: 3rd Floor Area: Window Type 1:Double hung � Baths: 1 Total Rooms: 5 Total GBA: 977 Patio 1 Area: Family: Window Type 2: Gliders Quality. Kitchen: f Yafue . t„ .... „z.i., . Patio 2 Area: Other: Value. 500 Air Conditioning: None Quality: Total Rooms: 1 Desc: EGRESS Dormer Length: Bedrooms: 4 ' Baths: 2 Dormer Quality: Deck 1 Area Family: 0 Quality: Date: 10/2212009 Appraiser ID: 18 Appraiser ID: Living: Price: $42,000 Appraisal Date: 04/21/2010 g' #Patio Doors: Deck 2 Area: Dining: 0 Quality: Code: 26 Reason: Board of Review Appraisal Date: y Kitchen: 1 Desc: Not Open MKT Result: Interior Other. 0 Last Interior Inspection: 04/21/2010 Reason: Total 6 Result: Pool 1 Area: Quality: Pool 2 Area Left Tag: Yes / No Quality: C4#441efti h sr E ' ' NEWER WINDOWS. MFSF. BSMT FIN SPRAYED CEIL & SHRK. EGRESS =F. AC PER MLS. 10 Asmt Appeal. Interior of home is in average 1 r condition. Kitchen has original cupboards. Torn screen in front of house and side steps cracked. City of Brooklyn Center PID: 02- 118 -21-41 -0021 Property Type: R - Residential Value Info: Residential Field Card Property Address: 5542 Irving Ave N Zoning: R1 Year/Version: 20101 1 Printed: 04/23/2010 Lot / Block: 008/001 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Hipp's Second Addition Owner(s): RiFive LLC Bldg: 72,500 Version: 1 District: Total: 119,500 Neighborhood: 0054 .. do ;.4 A - 64 ........ ,N . Influ�ri�s ...,.......uildr�g ID)tnens�sr7t Land Type: Standard Lot Frontage: 82 Park: Gas Length Width Land Quality: B05 -Land Left Side: ' 120 Park Quality: Paved Street 40 24 960 Area Rating: Average Rear Side: 82 On Lake: Sewer Available 1 17 17 Site Rating: Good Right Side: 120 Lake Quality: Water Available 0 0 0 Zoning: R1 Effective Width: On River: 0 0 0 Contamination: Effective Depth: 120 River Quality: 0 0 0 Flood Plain Map Ref: Effective Water: Landscape Quality: Average 0 0 0 PUD Ref: Property Area (SgFt): 9,840 0 0 0 Allowable Units: Acreage: Not Buildable: N Excess Land (SgFt): Adjacent Owner: N Usable SgFt: Flood Plain: N Flat Desc: Zoning Variance: N Flat Amount: Manual Land: N 2T 17' e�w Basement 977' w i 40' 16' ". 23 17 Ft First Floor 352' ge 977' _,w- 40' ta• Sketch by Apex IV"" Report Name: City of Brooklyn Center Printed: 04/28/2010 Sales Comps Details Sales Comps Details Page: 1 Item Subiec t Com111 Com°2 Como3 PID 0211821410021 0211821310020 0111821210111 0211821440099 Address 5542 Irving Ave N 2344 Brookview Dr 5921 Bryant Ave N 5333 James Ave N District Sale Price $42,000 $120,000 $122,000 $129,000 Sale Date 10/22/2009 04/24/2009 02/06/2009 05/22/2009 Cash Equivalent $116,400 $118,340 Price Per Sq. Ft. $42.99 $121.25 $123.27 $140.07 Dwelling Type Single Family Single Family Single Family Single Family Style One Level/Rambler One Level/Rambler One Level/Rambler One Level/Rambler Property Area 9,840 10,406 10,472 9,525 Actual Age 1955 1956 1950 1954 Effective Age 1980 1980 1980 1980 Quality Class B07 B07 B07 B07 1 st Floor Area 977 960 960 921 Total GBA 977 960 960 921 Finished Area 1,172 1,440 1,320 1,382 Basement Area 977 960 720 921 Basement Finished ( %) 20% 50% 50% 50% Total Bedrooms 4 3 2 2 Total Bathrooms 2 1 2 1 Garage 1 Floor Area 352 440 240 440 Garage 1# of Cars 1 2 1 2 Garage 1 Placement Detached Detached Attached Detached Total # of Cars 1 2 1 2 Walkout Type Air Conditioning None Central Central Central Pool Area -Total Fireplaces I Deck Area -Total Porches River Lake Influences Sq. Ft. Adj $44,315 ($168) $267 $2,306 Add Bsmt Adj $8,842 $154 $2,326 $507 Ded Unfin GBA Adj Site Adj $47,000 Garage Adj $5,014 ($1,078) $1,365 ($1,078) Walkout Adj Patio Adj ($224) Bath Adj $9,050 $2,262 ($1,810) $2,262 Air Conditioning Adj ($1,738) ($1,738) ($1,667) Porch Adj Fireplace Adj ($1,810) Deck Adj Fin Bsmt Adj $2,475 ($1,435) ($457) ($1,275) Misc. Adj Total Adj $116,696 ($2,227) ($1,857) $1,055 Market Adj Value $114,173 $116,483 $130,055 Wh Ave N p- .w Fraewe y B - Ave N _ Bl vd � 86th Av t { #ba 441h Ave N t x 63MAveN On r� $POO 4� ~> N _ +GaEden ��. r , 14 Park nCts e3 9 to ¢ e a n 62 Ave N - L» re 7 - 61st Ave N � 61st Ave N I � ( t ` tsOAh Ave W ✓a- # . e N �• s mt 4 �? I F . p try K 1 I C mp 2 j r (` c r 1a� o 591h Ave W Ave rt >' 2 ti t . 51st way M StSth Avg E fi Ave N T � e ,.. #(. 67 `57Th AV9 N m 5 t i 1 3 - STttt Ave N A9Eadhport x 8r a c Z - t; Ave N; Park l U Comp i FM. CL an Or VV a i N Lion$ 56th Ave W . q r ro 1 ', L} �5= '15Z i Park 2 i 't co s X E P3 ? �. �. 53rd Av�3 N '� ! 1 ; fta,a d n' f�i a 1 a9 �; z : d i s N 53rsf Ave j�I# Ix i U- a a $ ° „ Ayes c 1 �' E � s N � s 1 e kve M tS ": — E $ 515t Awe N y p 4 _ _, N 51st Ave € n r 1 < z E th Ave W SOEh Ave N E 541h Ave N i �} _� WSE�thAve -? .491h Ave N_ �. ___� �-� _ 4 — N 49th Ave __ �m 6 F I, s 48Eh Ave N ;` R b .. _ — ` , t W 4lhh %&010 Microso atiorr 2010 NAVTEQ � r 'a. II COMPARABLE SALES MAP COMPARABLE #1 2344 Brookview Dr COMPARABLE #2 5921 Bryant Ave N COMPARABLE #3 5333 James Ave N Report Name: Saleslnformation City of Brooklyn Center Printed: 04/28/2010 Sales Information Report Page: 1 02- 118 -21 -41 -0021- 5542 Irving Ave N Sale Date Sale Price Cash E uiv Sale Type Sale Ratio Comments g& y y& Qy. y Om Y 10/22/2009 $42,000 $0 01- Warranty Deed 26 - Not Open MKT 2010 1 0 0 09/01/2003 $170,900 $0 11- Other 00 - Good Sale 2005 1 0 0 I I i Report Name: Permit List Printed: 04/08/2010 City of Brooklyn Center Page: l Permit List Permit List for: 5542 IRVING AVE N Permit # h Un Value Permit Type Sub Type Work Tyke Description Cancelled Issued Date Final Date Dead Date Expiration Date Refund Date BCO29750 $1,060 Electrical Residential 1 & 2 Famil, Replace MAST AND METER 02/17/2006 02/16/2006 SOCKET BCO27935 $7,395 Building Residential Single Famil Replace REPLACE 10 08/18/2005 09/13/2006 WINDOWS BCO26461 $5,500 Building Residential Single Famil Replace 3 WINDOWS AND 01/19/2005 09/13/2006 WRAPS BC015379 $1,221 Plumbing Residential Remodel /Alteration MOVING BASEMENT 04/20/2000 06/15/2000 BATH BC015207 $4,200 Building Residential Single Famil Remodel /Alteration BASEMENT 04/04/2000 06/15/2000 BATHROOM BC012975 $5,000 Building Residential Single Famil Replace SIDING 06/23/1999 02/24/2003 BC010632 $3,864 Building Residential Single Famil Replace TEAR OFF /RE -ROOF 08/20/1998 07/15/1999 i Permit Count: 7 CITY OF BROOKLYN CENTER LICENSE INFORMATION PID: 0211821410021 License Information: License Number: 01004868 License Status: A License Type: Rental License Location: Business Applicant: Company: Douglas Allen Wahl 9 Business Address: 1845 Stinson Parkway NE, Business City: Minneapolis Business State: MN Business Zip: 55418 Telephone: 6127828888 Assigned Dates: Applied: 11/20/2009 Inspected: 11/30/2009 Council: 12/14/2009 Issued: 12/15/2009 Expiration: 11/30/2011 2010 INCOME APPROACH ANALYSIS Single Family Residential Rental YEAR OF CONSTRUCTION: 1955 PI D: 02- 118 -21 -41 -0021 Owner(s) : RiFive LLC 5542 Irving Ave N. Brooklyn Center, MN ACTUAL MARKET Unit Type # Bedrooms RENT RENT 0 STUDIOS $0 $0 0 1 BEDROOMS $0 $0 0 2 BEDROOMS $0 $0 0 3 BEDROOMS $0 $0 1 4 BEDROOMS $1,100 $1,300 1 Garages $0 $35 Garage stalls included in rent MONTHLYADJ. RENT $1,335 TOTAL ANNUAL ADJ. RENT $16,020 GROSS BUILDING AREA 977 LAND AREA 9,840 CAPITALIZATION PROCESS MARKET POTENTIAL GROSS RENT (PGI) $16,020 LESS: VACANCY & COLLECTION LOSS % OF PGI - 2.00% ($320) OTHER MISC INCOME 1.00% $160 (Application Fees & Late Fees) EFFECTIVE GROSS INCOME $15,860 LESS: ANNUAL EXPENSES: % OF PGI Insurance - 4.50% ($721) Rental License - 3.00% ($481) Maintenance, Gen. Repairs, Cleaning - 5.00% ($801) Reserves for Repairs - 2.00% ($320) TOTAL ALLOWANCE - 14.50% ($2,003) ANNUAL NET INCOME $11,534 RETURN ON & OF PERSONAL PROPERTY $1,500 12% ($180) NET INCOME TO REAL PROPERTY $11,354 CAPITALIZATION: CAPIITALIZATION RATE 6.00% EFFECTIVE TAX RATE AVERAGE 1.66% * OVERALL CAP RATE 7.66% 7.66% 2010 CAPITALIZED VALUE OF PROPERTY $148,230 * For Ad Valorum Tax Calculations, property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation. Monthly rent does not include utilities. Tenants are responsible for paying water, gas, electric, garbage, maintaining lawn and snow removal. . -6t3vm HF' LHSLRJE I F• HX P • y Com para ti ve M Ana lysis Fdday, April 9, 2010 Summary of Comparable Listings This page Summarizes the comparable listings contained In this market analysis, Sold Listings Address Price Bda B9+ MF $18q Built Style Sold Data ; DOM CDOM S= 5350 James Avenue z 1 $83,000 5 2 2062 $40 1954 ONEST 08/21/2009: B 187 5524 Dupont Avenue IS' $25,000 1 1 491 $51 1947 ONEST 09/2412009: 23 39 5851 Girard Avenue 15' $25,000 1 1 7(14 $33 1960 ONEST 08jis/20091 135 319 5327 Colfax Avenue $37,000 2 1 050 $57 1941 ONEST 07/28/2009i 65 85 5409 Fremont Avenue -3 $29,000 2 1 772 $38 1920 ONEST 11110120091 112 112 5420 Emerson Avenue IS $42,096 4 2 14DO $30 1941 ONEST 06/12/2009; 40 40 6821 Humboldt Avenue It $41,000 3 1 1126 $38 1853 ONEST 07120/2009; 41 230 5828 Fremont Avenue I II+Ak - - ^^` 5 $65,000 3 1 1095 $60 1950 ONEST 01122/2010 28 28 6637 Irving Avenue z1 $75,000 3 1 976 $77 1956 ONEST 09/1.872009; 41 41 5838 James Avenue 3 $69,900 2 1 988 $81 1954 ONEST 062912009 11 11 5701. Emerson Avenue I i $85 4 2 1504 $43 1462 ONEST 0&18/2000! 12 12 5819 Knox Avon e - 8 i.! � $66,000 3 2 1825 $34 1955 ONESt 06/05;2009 42 144 5408 Oolfnx Avenu6 I $88,000 3 1 1040 $85 1958 ONEST 07/0112009 I 4 4 5637 Camden Avenue 15 $84,000 3 1 1068 $79 1957 ONEST Oe /1812009 i 61 350 5425 Humboldt Avenue Z $85,000 4 1 1830 $40 1955 ONEST 10/30/2009 14 14 1208 57Th Avenue is - $82,617 3 2 1482 $43 1863 ONEST 07/2312009 21 205 5508 Fremont Avenue rr .n,�- - m� 5 $80,000 3 2 1600 $50 1958 ONEST 08/2012009 I 42 42 6800 Irving Avenue 15 $74,900 2 1 1383 $64 1956 ONEST 02!25120101 2 2 5712 Colfax Avenue 2 $88,300 3 1 912 $95 1955 ONEST 11/17/2009 7 7 6413 Logan Avenue IS $79,900 3 2 1730 $46 1954 ONEST OB/0712009 1 BO 80 5431 Irving Avenue r.) SSB,600 3 2 1405 $83 1955 ONEST 03109/2010 11 34 5410 Girard AvenueC 00Ul; $105,000 3 1 1190 $88 1932 ONEST 02/28/2010 7 7 5635 Aldrich Avenue/ D $105,000 4 2 1786 $59 1931 ONEST 11/25/2009 40 230 6843 Emerson Avenua iPWC� 6 $115,000 2 2 1290 $69 1961 ONEST 09130;2009 - -! 3 3 6344 James Avenuie f3rwc - m -s $92,500 3 1 1612 $57 1854 ONEST 03103/2010 83 110 5707 Girard Avenue .3 $108,000 3 2 1778 $60 1952 ONEST 02/2612010 11 386 5401 James.Avenue?-4 $97,446 2 2 1300 $75 1954 ONEST 07/2312009: 48 48 5350 Knox Avenue I5 $100,000 3 1 1 1100,00( 1954 ONEST 11117/2009 100 100 M8 Emerson Avenue L000 $109,000 2 1 938 $118' 1938 ONEST -104120091 191 547 5828 Fremont Avenue 6Pm4K- $55,000 3 1 1096 $60 1950 ONEST 02103/2010 .! 3 6826 Logan Avenue(,000 $107,500 Z 1 775 $139 1061 ONEST 63AS12010 � 18 84 6.840 Knox Avenue ZLP $112,000 2 2 945 $119 1950 .0NEST 02/2912010 ' 57 67 5830 .Fremont Avenue ewln } $122,000 3 2 1889 $85 1958 ONEST 1213012009-•,:- 19 19 5831 Dupont`Avenue $110,000 3 1 1128 $98 1955 ONEST 07130/2009 i-� 22 196 1205 57Th Avenue zLi $120,000 3 2 1482 $82 1953 ONEST 03/0112010 1 39 39 6449 Colfax Avenue z.te $122,450 3 2 1 B74 $86 1935 ONEST 01/12/2010 188 168 5419 Irving Avenue ( $127,425 3 1 1678 $88 1956 ONEST 11/1312009 28 28 5320 Colfax Avenue WOO $117,000 3 1 1414 $83 1947 ONEST 1213012009: $8 38 6615 Bryant Avenue Zia $131;000 3 1 1491 $88 1966 ONEST 12/28/2009 Be 68 5909 N Emerson- Avenue EPCO $138,000 2 2 1108 $125 1950 ONEST 08/30/2009 - :1 177 177 Averages; S1114,33111, 2.8 14 1288 $2,606 1950 ' 47 108 K" i CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19, 2010 through April 9, 2010 You must return this application by April 9, 2010. to be placed on the Agenda for the Local Board of Appeal and Equalization held April 19, 2010 at 7:00 P.M. Names Daytlme Contact Number Property Address .. �'� �`�'' 41le No Property Identification Number Assessor's 2010 Estimated Market Value Is your property residential, commercial or multi - family? . If you are appealing a commercial, multi- family or residential rental property you must include Income and expense data for calendar year 2000 with your application. What is the reason you are appealing your 2010 assessment? ► - �.j/� c - .I X Ae 1(T -- of ke"".r /ycg When did you purchase your home? Date of Purchase ��d!.G'�} Purchase Price Aq 4 r _ On Did you purchase your property from a bank, as a foreclosure or short sale? LA ef7 Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. Have you had a recent appraisal for refinancing, purchase or a market analysis by a real ctildlc dj�Clll vuiliplrolud within [Ile laut year? Ye If so, what was the determination of value ?�`� r!� 7 / u /,. C 7 � qty f'1' What do you think the market value of your property should be? Please provide any documentation supporting your claim of overvaluation or erroneous classification wfth this application, In order to appeal wcur valuation an appointment to view the property will be reaulred C riday, April P. 2010 Summary of Comparable Listing This page summarizes the comparable listings contained In this market analysis. Sold Listings Address Prue Sds Sth TFSF $/Sq Built Style Sold Date DOM CDOM S■ 6350 James Avenue $83,000 5 2 2052 $40 1964 ONEST 08/21/2009 8 187 5524 Dupont Avenue $25,000 1 1 491 $51 1947 ONEST 09/24/2009 23 39 5651 Girard Avenue $25,000 1 1 764 $33 1950 ONEST 09/15/2009 135 319 5327 Colfax Avenue $37,000 2 1 650 $57 1941 ONEST 07128/2000 f36 513 5409 Fremont Avenue $29,000 2 1 772 $38 1920 ONEST 11/16/2008 112 112 5420 Emerson Avenue $42,095 4 2 1400 $30 1941 ONEST 06/12/2009 40 40 5621 Humboldt Avenue $41,000 3 1 1126 $38 1953 ONEST 07120/2009 41 230 5828 Fremont Avenue $55,000 3 1 1095 $60 1960 ONEST 01122/2010 28 28 6637 Irving Avenue $75,000 3 1 976 $77 1955 ONEST 09/18/1009 41 41 5836 James Avenue $59,900 2 1 988 $81 1954 ONEST 08/29/2009 11 11 6701 Emerson Avenue $65,000 4 2 1504 $43 1952 ONEST 08/11811000 12 12 5819 Knox Avenue $55,000 3 2 1625 $34 1955 ONEST 06/05/2009 42 144 5408 Colfax Avenue $815,000 3 1 1040 $85 1968 ONEST 0740112009 4 4 5537 Camden Avenue $84,000 3 1 1066 $79 1957 ONEST 06/1812009 fit 350 5425 Humboldt Avenue 585,000 4 1 1B30 $40 1955 ONEST 10/30/2009 14 14 1208 67Th Avenue $52,617 3 2 1462 $43 1953 ONEST 07/2312009 21 205 5508 Fremont Avenue $80,000 3 2 1600 $60 1956 ONEST 08120/2009 42 42 5800 Irving Avenue $74,900 2 1 1383 $54 1955 ONEST 02/25/2010 2 2 5712 Colfax Avenue $56,300 3 1 912 $95 1955 ONEST 11/1712009 7 7 5413 Logan Avenue $79,900 3 2 1730 $48 1954 ONEST 01510712009 60 60 5431 Irving Avenue $68,500 3 2 1405 $63 1955 ONEST 0310912010 11 34 5410 Girard Avenue $105,000 3 1 1198 $88 1932 ONEST 0212642010 7 7 3835 Aldrich Avenue $105,000 4 2 1785 $59 1931 ONEST 11/25/2009 40 230 5843 Emerson Avenue $115,000 2 2 1290 $89 1951 ONEST 09/302009 3 3 5344 James Avenue $92,600 3 1 1612 $07 1954 ONEST 03/03/2010 63 110 5707 Girard Avenue $106,000 3 2 1778 360 1962 ONEST 02123/2010 11 385 5401 James Avenue $97,440 2 2 1300 $75 1954 ONEST 07123/2009 48 48 6360 Knox Avenue $100,000 3 1 1 M00,0N 1964 ONEST 11/17/2009 100 100 5328 Emerson Avenue $100,000 2 1 938 $116 1936 ONEST 10/23/2009 191 547 5828 Fremont Avenue $55,000 3 1 1096 $60 1960 ONEST 02/02/2010 3 5626 Logan Avenue $107,500 2 1 775 $139 1951 ONEST 03/18/2010 18 64 6840 Knox Avenue $112,000 2 2 946 $119 1850 O NEST 02/26/2010 67 57 5630 Fremont Avenue $122,000 3 2 1889 $65 1956 ONEST 1250/2009 19 19 5831 Dupont Avenue $110,000 3 1 1128 398 1955 ONEST 07/3012009 22 196 1208 57Th Avenue $120,000 3 2 1462 $82 1953 ONEST 03101/2010 39 39 5449 Colfax Avenue $122,450 3 2 1874 $65 1936 ONEST 01112/2010 188 168 5419 Irving Avenue $127,425 3 1 1876 $68 1955 ONEST 11/1312009 28 28 5320 Colfax Avenue $117,000 3 1 1414 $83 1947 ONEST 12/3012009 36 36 - 5815 Bryant Avenue $131,000 3 1 1491 $S8 1955 ONEST 12/28/2009 58 55 59D9 N Emerson Avenue $138,000 2 2 1106 $125 1950 ONEST 09130/2009 177 177 Averages, $84,338 2.8 1.4 126!1 $2,866 9950 47 108 E d -P 134 stinr rilve ft UN b�419 481e fich 61Z.7 } 10:38 AM CEL Monton, LLC r 041091,0 Profit & Loss Cash Basis $443 Irving Jan - Doc 06 Ordinary Income/Expense Income 4100 • Rental Income 9,492.00 4200 • Fee Income 4230 NSF Check Fee Income -4.00 Total 4200 • Fee Income -4,00 Total Income 9,488.00 Expense 6100 • Insurance 5110 • Property Insurance 532,40 Total 5100 - Insurance 532.40 6200 • Internet Expense 5220 • Loan Interest 221.50 Total 3200 - Interest Expense 221.80 5300 - Rspaire 4,867:13 6400 • UtIllttes 8410 • Gas 71.10 6420 Water 67.00 5430 Electric 14.81 Total 6400 • Utflltlea 102.91 6000 • MATERIALS 1,261.50 8200 • T*xee 6230 • Property Taxes 0.00 Total 6200 Taxes 0.00 7010 • Bank Service Charges 4.0D 7040 • I.laenses and Permits 900.00 7055 • CredltlCrlminsl checks 24.00 7090 • Property Maintenance 307.50 7091 • Cleaning Expense 50.00 Total Expense 8,271.06 Not Ordinary Income 1,218.914 Not Income 1,218.94 Page 1 Review Of 5443 Irving Ave N PID# 02 118 2144 0081 For Cel Monton LLC 2010 Board of Appeal and Equalization z City Brooklyn Center y f y ter A Millennium Community TO: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID# 02- 118 -21 -44 -0081 Cel Monton LLC 5443 Irving Ave N Brooklyn Center, MN 55430 A representative of Edlich Realty contacted the 2010 Local Board of Appeal and Equalization regarding the 2010 estimated market value of the property located at 5443 Irving Avenue North by telephone on April 8, 2010. This property has a 2010 estimated market value of $126,700. The board directed Mr. Edlich to schedule an appointment for an interior review with the Assessor's office. A review of the property was scheduled on April 21, 2010 with an appraiser from the Assessor's office. I The property is a 950 sq. ft. rambler with a one car attached garage in average condition. The main level includes aliving room, kitchen, three bedrooms, and one full bathroom. The basement finished area includes one bedroom and one family room. This property has one egress window, a gas forced furnace and central air conditioning. The property was last reviewed in February, 2009, with the realtor. After reviewing the property, changes were made in physical characteristics to the percentage of basement finish from 75% to 50% of the total basement square footage, and a change in the first floor bathroom quality from very good to average. After reflecting the characteristic changes the property calculates an estimated market value.of $121,800. As requested, Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was P rovided to the council in the initial appeal packet from the owner. Three actual documents were provided to the Assessor's office with ,actual rent figures of $1,150, $1,200 and a total 2009 annual income of $9,492. Due to discrepancies in the numbers, the average market rent of $1,300 for a typical four bedroom home was used as 2009 rent. Additional comments indicated rents were decreasing as owners renew yearly leases. The subject property was purchased in April , 2009, and the rental license was not issued until June 9, 2009. It is assumed that the original lease amount is currently still in place, but under typical market rent for a four bedroom home. In discussion with the Assessor Mr. Wahl indicated-that the tenants were responsible for all utilities, maintaining the yard, and snow removal. Due to the lack of itemization of typical expenses, missing operational expenses and deducted expenses that are obligations of the tenant, the owner's documentation was reviewed, but not felt reliable for use in calculating the income approach. As the majority of single family residential properties in Brooklyn Center are owner occupied, more, weight is given to the sales comparable approach rather than the 6301 Shingle Creek Parkway Recreation and Community Center Phone & TDD Number Brooklyn Center, MN 55430 -2199 (763) 569 -3400 City Hall & TDD Number (763) 569 -3300 FAX (763) 569 -3434 FAX (763) 569 -3494 www.cityofbrooklyncenter.org income approach. A market derived income approach of a single family four bedroom rental property has been included with this report. Mr. Edlich provided a comparative market analysis listing of comparable homes in Brooklyn Center with the initial appeal application for the subject property. A copy of this list was included with this report, as rejection codes and open market sales were noted. The comparative listing provided indicated only three open market sales within the sale study period. The open market sales were; 5843 Emerson Ave N. — Sold 9/30/2009 for $115,000, 5831 Dupont Ave N. — Sold 07/30/2009 for $110,000 and 5909 Emerson Ave N. — 09/30/2009 for $138,000. All other sales listed were rejected for the state sales ratio study. The enclosed grid completed by the Assessor's office shows the subject property adjusted value at $121,384. The additional flat charge of $500 for the egress window should be added for total subject value of $121,800. The comparable grid compares the subject property to three similar homes in Brooklyn Center. While the subject property is smaller than the average 1,000 sq. ft. home, adjustments were made to all comparables for size, garage, basement,, and amenities. Comparable number two required the least amount of adjustments to be similar to the subject property. The enclosed comparable sales grid indicates a range of value for the subject property from $120,986 to $133,356. It is the Assessor's recommendation to reduce the 2010 estimated market value from $126,700 to $121,800 for taxes payable in 2011. Respectfully submitted, Nancy Woj k, SAMA City Assessor SUBJECT PROPERTY 5443 Irving Ave N Cel Monton LLC PID# 02- 118 -21 -44 -0081 �y Land Characteristics Land Area 10,164 sq. ft. Building Characteristics Style: Rambler 950 sq. ft. Main Level Room Count: 5 / 3 / 1 Full Bath Below Grade Room Count: 2 / 1 / 3/4 Bath Garage: 1 Car Attached Fireplace: 1 Porches /Decks /Misc.: 1 Egress Central Air Conditioning: CAC Report Name: Images City of Brooklyn Center Printed: 04/28/2010 PID: 02- 118 -21 -44 -0081 Page: 1 Property Images i Yi 9 Report Name: Taxpayer Inquiry City of Brooklyn Center Printed: 4/15/2010 Page: 1 Taxpayer Inquiry Display PID House Nbr Street Name Unit Zip ode 02- 118 -21 -44 -0081 5443 Irving Ave N 55430 Last Name First Name MI Owner Taxpayer Resident Cel Monton LLC Y Y N F rontag e Left Side Rear Si de Right Side Eff. Width Eff. Doth Property Area Acreage Zoning P/S Exempt Code School Dist Watershed Yr Built 77 132 77 132 77 132 10,164 0.00 R1 0286 15 1955 Year Ver #Subs Land Value Bldg Value Mach Value _Tot Mkt Value Tax Cap Hmstd Midvr Rel H P/T %Own P/C 2010 1 1 47,000 79,700 0 126,700 1,267 N N N R 0 N 2009 1 1 58,900 82,100 0 141,000 1,410 Y N N R 100 Y 2008 1 1 60,900 109,500 0 170,400 1,704 Y N N R 100 N Lot: 001 Block: 002 Addition: Krutzig's Addition i y r 1 i�• M. : 'e t w E t� 1� RI u Prglaerty I[} House #s treet Ngrr e LIM 1' Photos) on file ' Today's date: r]z4J13QO1 to 1 Sketch(es) on file Release: 1 D7.0 4[ 02-1 18-21-44-0081 Address: 4�}3 � n Assessor >r , Tents on f7e Logged on user KCAS4 TO Single PID As�na - Karen fast 1 ParcI Search ;_ 2 -Clear 9 Print e, Photos Parcel Status:TI fP DS [ i ar X51 At Rr '06tiitii . . MCA P inl ormatiori " , " Assessor Comments° ` Parcel i r P ➢n f Assessment dear �A'�i� al, a e$s nE Fil ne� i i L and �, Temporary PICA (Update Building Land �"Summaryl ' Assesr Protect (update '- Assessor�l16quiry g Q uali+ S #rte __. Taxpayer Inq>ary B4 {brie LevrellR arriE�ler DINalllrrg 3ypr Bin le Farrnly l �Ialues ;#rninr r tidfr' Tot' BA: B50 >7' 2?brrng. R1 n C S ale s`tdrrilnistration C 1ropert01yr Characteristics Basic Rate: Land ,Oi Shape 0.0 adjusted Rate: " 6 - -- Emt. +all 5. Inspections Residential AdjAdj.' Fake " R4A: 4 x,737 - _��' :. Add B aserrent: $9.510 950 SgFt _ $1 tT.00 Commercial Industrial S qFt Off . $911.00 Ded Unf.I�B�,. $0 elulkrt am, �. ieldC 'dPrint Adl�kedTc� #a1 � ii4 r A " $MB -�� Range: Dormer Pakio'Doors: $0 Market Vatcre F4asidenkla! � alC M t ammerpial Walkout: $0 far Cond $0 I la&` vale Mu16 Farti'l P'abos: P 0 Pore" s 0 f. ools. Rate T at,� Lend A 771 Re a1a1e= 'Residential Baths $12:040 Fireplaces $>7a0 Fin Bsmt z $9 9 CAIN Land; Tcr #al',Ca t $9.. itch r P e R esidential �essmnt Proles 4 d17C 9 Depreciation S B Intl nces / Ci 0 peciaEssessrarts ports and Inq rt s Func #tonal 00 FcQnoM x � >ataba e IUtllitte s a Cuild'irig �: _ 9 20B �13Idg Mk# value: $S�70Ci" kkaliis..'.,.. $004 Landlkt Val ue Tokai,f�lkk. value:, $128" I MF F'ra l[ . Nou ei Sheet 1 me r Ur r B photo on fi>> Today„ s d*e: 04MR01 B Par t Photo s) Sketches) on file Re "(ease: 1 P7,041 8 pBB7 , 1� 'address.4 tr "rcA As amments an'fiile Lagged on user :l4T cif ! ren s t 08 P,4 I Search 'Clear Ptit ' i Photos !, ,. , parcel Status AC TIYE ; z ° Peioel Infarmadt Assessor Commen ParceLLlaur arnng Asses meWylie � �B�B Mrer�r�iC�i�s��srn�n� � I�N� al�anrt � 'femptirary RID Lipdaf E Assessor Project Upds n Building Land a l' Assessor I urr q el i eY,: u lit` C? I T Q a lat:f g y., Sin 1 "Fa I Ba',. lrr " "e ambler rt10WAYOr Pqurry ;e r 9. y l Yalu r "ion Takal GBA 95a Age: 30 honing R1 �. _. Ualu6s In( ion Hennepinto0yTrar j Basic Rake. $50.25 Homestead Update 4 4 - g p Adjusted F5Lt.F5 ---� Ext. �: >G S hade Last Appraised Year L, LMT' Update Adj. E��it'� GB 4,37 ... Add t3asement: 5�Q S50 S qF3 '11} > 1 ' Tax Capaaties old. L1nf.GBA: 0 SgFt $.> 'Value N otice FiI � Sales "Administration y %�` A WO djusted Total $57,03 Sales information �' I to y Sales Raficis, i Additue Amount 154 ara e: 40 mein: X24, 1)ar boars ik Campuxabfes Informah 9 f ¢ MtM t"€des f. ry;.. All ut �B r E:and $1 f7 (deck o tf "iice ( une Adjustienakios PoieE3es " Ef foals Weight Patarri�t z Baths; $1 B tE1 Frrepl� Frn Bstrrt t�65B Ccmparal�lesc-U rGB ". f raperky h r�� ishos Tota[Cost 8 ,1 Kitchen $ ► Land ,,. i, jr LN Inspectrars Adjustment ; 9, - influences R esielbitral x rec�at�Qn /: e Funckianal Ecaln' mic comm cim � Itt� � � �l B #ui Famrl! �'��� „f? Fie[d.iCar frint,�� Bu ld rtr � ju $74 3�B � � "' CAtA �`' A BI Mlkt lue LAMA Inquir Flatalr riSEf Lard i dal e7 td Ml MarketVolue jesider Total f+�kt value tYtr�fkPt Va1.1, "M ilinhlPt ., City of Brooklyn Center PID: 02- 118 -21-44 -0081 Property Type: R - Residential Value Info: Residential Field Card Property Address: 5443 Irving Ave N Zoning: R1 YearNersion: 2010/ 1 Printed: 04/23/2010 Lot / Block: 001 /002 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Krutzig's Addition Owner(s): Cel Morton LLC Bldg: 79,700 Version: 1 District: Total: 126,700 Neighborhood: 0054 a et : ` W tom~..:, , 11� \ ;n e Model: a #1 Area (SgFt): 950 Kitchen Rtg: Standard Interior: Interior: Res. Cond: Average ... .:, 9 Placement: Attached Type: Regular Interior: Plaster Trim: Trim: Dwell Type: Single Family # of Cars: 1 Finished ( %): 50 Trim: Hardwood Floor: Floor: Int. Layout: Standard Floor Area: 264 Quality: Very Good Floor: Carpet Avg. Clear. Height: Avg. Clear. Height: Adjacent Property: Equal Condition: Average # of Fireplaces: 1 Avg. Clear. Height: # of Fireplaces: # of Fireplaces: Manual Assess: N - Exterior Walls: Wood Fplc. Quality: Average # of Fireplaces: Fplc. Quality: Fplc. Quality: View: Equal Avg. Clear. Height: Fplc. Quality: Actual Age: 1955 Elec. Svc: Standard Arch. /Appeal: Average , } Htg: Forced air, gas fired Effective Age: 1980 Walkout: UN Quali B07 Placement: Walkout Quality: 1st fats { i►tY 2ri �s (#/tf `�#/afty) Renovated Age: tY y # of Cars: a�� ,�._. „ Spa: / Spa: / Spa: / Shape. Square Floor Area: Dix: / Dix: / Dix: / Functional %: Condition: Full: 1 / Average Full: / Full: / Style: One Level /Rambler Exterior Walls: 3/4: / 3/4: / 314: / Economic %: 1/2 / 1/2: / 1/2. / Construction: Wood Frame p ` 'I N IT, < A RN Spa: / Glazed Area 1stgAlt1 G ' Gold Exterior Walls: Wood Dix: ! tr ; ? „�, , CC►u Unfin. 1st GBA: „ �� Full: / Bedrooms. 3 Brooms: Bedrooms: Unfin. 2nd GBA: Quality: edv „ Screened Area: Unfin. 3rd GBA: Exterior Trim: Brick 3/4: 1 /Average Baths: 1 Baths: Baths: Quality: 1/2: / Family: Other: Other: Unfin. Total GBA: Roof Type: Hip Open Area: Living: 1 Total Rooms: Total Rooms: Quality: 1 st Floor Area: 950 M 11toom Cook Dining: Kitchen: 1 2nd Floor Area: Roof Cover: Shingles Bedrooms: 1 Other: 3rd Floor Area: ffi Window Type 1: Double Hung �,;.. V 1, Baths: 1 Total Rooms: 5 Total GBA: 950 Patio 1 Area: Family: 1 Quality: Kitche Window Type 2: n: ,. Patio 2 Area: Other: Value. 500 Air Conditioning: Central Quality: Total Rooms: 2 Desc: EGRESS Tta1 t2atSF11�` Dormer Length: \ Bedrooms: 4 Baths: 2 Dormer Quality: Deck 1 Area: Date: 04/15/2009 Appraiser ID: 18 Appraiser ID: Family: 1 Quality: pp pp Living: 1 Deck 2 Area: Price: $49,000 Appraisal Date: 04/21/2010 # Patio Doors: Code: 26 Reason: Board of Review Appraisal Date: Dining: 0 Quality: pp Kitchen: 1 Desc: Not Open MKT Result: Interior Other: 0 Last Interior Inspection: 04/21/2010 Reason: Total: 7 P.o(... ..r : 3 Result: Pool 1 Area: Quality: Pool 2 Area: Left Tag: Yes / No Quality: 0115 ' Ov y Am r O RG I WAND . MFSF. GLAS E NO REST. 0 Assmt B1 Appeal. CEIL. ORIG EAT IN KITCH W /CT BKSPLSH, GOOD. CT MAIN BATH. Interior of home is in average condition. Bryant = F Bsmt finish has sprayed ceiling, sheetrock, paneling and carpet. City of Brooklyn Center PID: 02- 118 -21-44 -0081 Property Type: R - Residential Value Info: Residential Field Card Property Address: 5443 Irving Ave N Zoning: R1 Year/Version: 2010/ 1 Printed: 04/23/2010 Lot / Block: 001 /002 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Krutzig's Addition Owner(s): Cel Monton LLC Bldg: 79,700 Version: 1 District: Total: 126,700 Neighborhood: 0054 1 �> � � A ate '� ��� '• _'£ ;.. \ r,...t' {, z' - " -_ .., ';...., i.. � ^9• ..<. ,,, ,,, �! „� ll� •:': �1�1�i � E~ I{lt�t'�` 1. Land Type: Standard Lot Frontage: 77 Park: Gas th Sq`{ Land Quality: B05 -Land Left Side: 132 Park Quality: Paved Street 38 25 950 Area Rating: Average Rear Side: 77 On Lake: Sewer Available 0 0 0 Site Rating: Good Right Side: 132 Lake Quality: Water Available 0 0 0 Zoning: R1 Effective Width: 77 On River: 0 0 0 Contamination: Effective Depth: 132 River Quality: 0 0 0 Flood Plain Map Ref: Effective Water: Landscape Quality: Average 0 0 0 PUD Ref: Property Area (SgFt): 10,164 0 0 0 Allowable Units: Acreage: Not Buildable: N Excess Land (SgFt): Adjacent Owner: N Usable SgFt: Flood Plain: N Flat Desc: Zoning Variance: N FlatAmount: Manual Land: N 12" 38' 4 y= L ) \: wYry " 6 64 e , First Fl 95[6" t 38' Ln Basernent 958' 38" Sketch by Apex IV - li Report Name: City of Brooklyn Center Printed: 04/26/2010 Sales Comps Details Sales Comps Details Page: 1 Item Subiec t Comol Com 2 Como3 r PID 0211821440081 0111821230092 0111821210111 3611921330025 Address 5443 Irving Ave N 5831 Dupont Ave N 5921 Bryant Ave N 6100 Emerson Ave N District Sale Price $49,000 $110,000 $122,000 $138,500 Sale Date 04/15/2009 07/30/2009 02/06/2009 09/25/2009 Cash Equivalent $118,340 $138,380 Price Per Sq. Ft. $51.58 $127.31 $123.27 $147.84 Dwelling Type Single Family Single Family Single Family Single Family Style One Level/Rambler One Level/Rambler One Level /Rambler One Level/Rambler Property Area 10,164 11,390 10,472 10,452 Actual Age 1955 1955 1950 1954 Effective Age 1980 1980 1980 1985 Quality Class B07 B07 B07 B07 1 st Floor Area 950 864 960 936 Total GBA 950 864 960 936 Finished Area 1,425 1,296 1,320 1,620 Basement Area 950 864 720 912 Basement Finished ( %) 50% 50% 50% 75% Total Bedrooms 4 3 2 3 Total Bathrooms 2 1 2 2 Garage 1 Floor Area 264 280 240 308 Garage 1# of Cars 1 1 1 1 Garage 1 Placement Attached Attached Attached Attached Total # of Cars 1 1 1 1 Walkout Type Air Conditioning Central Central Central Central Pool Area -Total Fireplaces 1 1 Deck Area -Total Porches 114 River Lake Influences Thru Street Sq. Ft. Adj $43,202 $3,626 ($846) ($1,036) Add Bsmt Adj $8,598 $865 $2,082 $116 Ded Unfin GBA Adj Site Adj $47,000 Garage Adj $3,986 ($174) $337 ($729) Walkout Adj Patio Adj ($125) Bath Adj $9,050 $2,337 ($1,810) ($3,040) Air Conditioning Adj $1,720 $109 Porch Adj ($2,438) Fireplace Adj $1,810 $1,810 $1,810 Deck Adj Fin Bsmt Adj $6,018 $2,538 $3,086 $293 Misc. Adj Total Adj $121,384 $10,986 $2,849 ($5,024) Market Adj Value $120,986 $121,189 $133,356 i1. a 3 = = 62nd Ave N F 0 9 3 O _ S ummit Dr H E M 52 Comp 3 z & n Gist Ave N *' v z Gra rodviavt 64th Ave N 64th Ave N ' i b i Paric Comp 2 0 59% Ave N z z 59th Ave N z, m 140 g . � � Comp 1 o; tit3 f •58th Ave N ur Wh Ave N s A t m w Rd q' 5 7tA qv6 J :57try <lw$ J c E M 057th Ave 1 .- s 56th Ave N Z 56th Ave N z ` 2 m z 4 r z Ertcon Dr ' z z 55th Ave IV , E o o m 5&b Ave N 1 I, 1 € x L 5 t �� z 0 6ellvut? >` a ¢ 541h Ave tJ Park z � 56Q xds ' 1 2010 Microsl Corporation 0'10 NAVTEQ +S .. c , COMPARABLE SALES MAP COMPARABLE #1 5831 Dupont Ave N COMPARABLE #2 5921 Bryant Ave N COMPARABLE #3 6100 Emerson AveN Report Name: SalesInformation City of Brooklyn Center Printed: 04/28/2010 , Sales Information Report Page: 1 02- 118 -21 -44 -0081- 5443 Irving Ave N Sale Date Sale Price Cash Equiv Sale Type Sale Ratio Comments A& YL Y-U 0-IL YE -Q-Y� Y-tr 04/15/2009 $49,000 $0 01- Warranty Deed 26 - Not Open MKT 2010 1 0 0 01/01/1999 $89,900 $0 11- Other 99 - Conversion -X Sales ESTATE SALE 2005 1 0 0 I I Report Name: Permit List City Of Brooklyn Center Printed: 04/20/2010 Permit List Page: ,1 Permit List for: 5443 Irving Ave N ermit # Unit Valu Permit Type Sub Type Work Type Description Cancelled Issued Date Final Date Dead Date Expiration Date Refund Date BCO38191 $350 Plumbing Residential Replace VENT BASEMENT 05/26/2009 05/28/2009 BATHROOM VANITY BCO25214 $180 Electrical Residential 1 & 2 Famil, Replace WIRE FURNACE & A/C 08/12/2004 08/16/2004 BCO25180 $4,780 Mechanical Furnace & Air Condition Replace REPLACE FURNACE & 08/05/2004 08/31/2005 A/C BCO20216 $1,200 Building Residential Single Famil Replace EGRESS WINDOW 07/15/2002 08/13/2002 BC010411 $4,176 Building Residential Single Famil Replace TEAROFF /REROOF 07/31/1998 12/28/1998 Permit Count: 5 i �I �I I I I CITY OF BROOKLYN CENTER LICENSE INFORMATION PID: 0211821440081 License Information: _k._ License Number: 01004572 License Status: A License Type: Rental License Location: 13 Business Applicant: Company: Douglas Allen Wahl Business Address: 1845 Stinson Parkway NE, Business City: Minneapolis Business State: MN = Business Zip: 55418 Telephone: 6127828888 Assigned Dates: Applied: 4/28/2009 Inspected: 5/18/2009 Council: 6/8/2009 Issued: 6/9/2009 °° Expiration: 4/30/2011 2010 INCOME APPROACH ANALYSIS Single Family Residential Rental YEAR OF CONSTRUCTION: 1955 PID: 02- 118 -21 -44 -0081 Owner(s) : Cel Monton LLC 5443 Irving Ave N Brooklyn Center, MN ACTUAL MARKET Unit Type # Bedrooms RENT RENT 0 STUDIOS $0 $0 0 1 BEDROOMS $0 $0 0 2 BEDROOMS $0 $0 0 3 BEDROOMS $0 $0 1 4 BEDROOMS $1,200 $1,300 1 Garages $0 $35 Garage stalls included in rent MONTHLY ADJ. RENT $1,335 TOTAL ANNUAL ADJ. RENT $16,020 GROSS BUILDING AREA 950 LAND AREA 1- 0,164 CAPITALIZATION PROCESS MARKET POTENTIAL GROSS RENT (PGI) $16,020 LESS: VACANCY & COLLECTION LOSS % OF PGI -2.00% ($320) OTHER MISC INCOME 1.00% $160 (Application Fees & Late Fees) EFFECTIVE GROSS INCOME $15,860 LESS: ANNUAL EXPENSES: % OF PGI Insurance -4.50% ($721) Rental license -3.00% ($481) Maintenance & Cleaning -5.00% ($801) Reserves for Repairs 2.00% ($320) TOTAL ALLOWANCE 14.50% ($2,003) ANNUAL NET INCOME $11,534 RETURN ON & OF PERSONAL PROPERTY $1,500 HOUSEHOLD @ ($180) NET INCOME TO REAL PROPERTY $11,354 CAPITALIZATION: CAPIITALIZATION RATE 6.00% EFFECTIVE TAX RATE AVERAGE 1.66% * OVERALL CAP RATE 7.66% 7.66% 2010 CAPITALIZED VALUE OF PROPERTY $148,230 * For Ad Valorum Tax Calculations, property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation. Monthly rent does not include utilities. Tenants are responsible for paying water, gas, electric, garbage, maintaining lawn and snow removal. -6 HP LHSERjE l F HX P' `i f C Friday, April 9, 2010 Summary of Comparable Listings This page Summarizes the comparable Ilstfngs contained In this market analysis, Sold Listings Addreee Price Bda 6th TPSF 8/Sq Built Style Sold Data DOM ODOM S= 5350 James Avenue z 1 $83,000 5 2 2062 $40 1954 ONEST 08/21/2009: 8 187 5524 Dupont Avenue 1 a $25,000 1 1 491 $51 1847 ONEST 09/2412009: 23 39 5851 Glrsrd Avenue 1 5 $25,000 1 1 784 $33 1950 ONEST 09115/20091 135 318 5327 Colfax Avenue 0 $37,000 2 1 850 657 1941 ONEST 07/28/2009; 65 85 5409 Fremont Avenue - $29,000 2 1 772 $38 1920 ONEST 11/1820081 112 112 5420 Emerson Avenue 1-5 $42,096 4 2 1400 $30 1941 ONEST 06/12/2009; 40 40 5621 Humboldt Avenue It $41,000 3 1 1125 $38 1953 ONEST 07120/2009; 41 230 5828 Fremont Avenue il"icc -011-5 $55,000 3 1 1095 $60 1950 ONEST 01122/2010! 28 28 5637lNing Avenue z $75,000 3 1 978 $77 1965 ONES? 09118120091 41 41 5838 James Avenue 3 $59,900 2 1 988 $81 1954 ON EST 06/2912009 11 11 5701 Emerson Avenue t.i $85,000 4 2 1504 643 1962 ONEST 0811812009 ° 12 12 5819 Knox Avenue,1 $66,000 3 2 1825 $34 1 ONEST 0$/05/2009 0 42 144 5408 Colfax - Avenue 1 $88,000 3 1 1040 $86 1958 ONEST 07/01/20091 4 4 5537 Camden Avenue 15 $84,000 3 1 1086 $79 1957 ONEST 06/1. U2002 Bi 350 5425 Humboldt Avenue $66,000 4 1 1630 $40 1955 ONEST 10/30/2009 14 14 1208 57Th Avenue N - $62,617 3 2 1462 $43 1963 ONEST 07/23120091 21 205 5508 Fremont Avenuebt;rvL - rn(y $80,000 3 2 1600 $50 1956 ONEST 08/2012009 42 42 5800 Irving Avenue 15 .$74,900 2 1 1383 $54 1955 ONEST 02125120101 2 2 5712 Colfax Avenue $86,300 3 1 912 $95 1955 ONEST 11/1712009 7 7 5413 Logan Avenue IS $79,900 3 2 1730 $46 1954 ONEST OB/0712009 I 60 8o 5431 Irving Avenue 1.) $86,500 3 2 1405 $63 1955 ONEST 03/09/2010 11 34 5410 Girard AvenueCoOO : $105,000 3 1 1196 $88 1932 ONEST 0212612010 7 7 5835 Aldrich Avenuel D $105,000 4 2 1786 $59 1931 ONEST 11/25/2009 40 230 5843 Emerson Avenue &rc?a $115,000 2 2 1290 $89 1961 ONEST 09/30/2009 <= 3 3 6344 James Avenue pit c - vv\4S $92,500 3 1 1612 $57 1954 ONEST 03103/2010 53 110 5707 Girard Avenue 3 $106,000 3 2 1778 $60 1952 ONEST 0225/2010 11 386 5401 Jamee:'Avenue a? $97,440 12 ' 2 1300 $75 1954 ONE 07/23/2009 ; _ 46 48 5350 Knox Avenue IS $100,000 3 1 1 1100,00! 1954 ONEST `11/17/2009 ! 100 100 6328 Emerson Avenue &000 $109,000 2 1 938 $118 1938 ONEST 10/23/2009.:: - 191 547 5828 Fremont Avenue QftrAY-m $55,000 3 1 1096 $50 1950 ONEST 0210212010.! 3 . 6626 Logan Avenue(,0 1= $107,500 2 1 775 5139 1961 ONEST 63118/2010 16 84 5040 Knox Avenue 'Zt,v $112,000 2 2 945 $119 1950 ONEST 021'2812010 ' 57 57 5530 Fremont 'Avenue GIVO $122,000 3 2 1869 S85 1955 ONEST 4213012 18 10 --- -.5831 Dupont Ave $110,000 3 1 1128 see 1955 ONEST 07/30/2009 i_ 22 196 120857Th Avenue zLe $120,000 3 2 1462 $82 1953 ONEST 03/01/2010 39 39 6449 Colfax Avenue _U $122,450 3 2 1874 $86 1935 ONEST 01/12/2010 1 188 168 5419 Irving Avenue 6000 $127,425 3 1 1878 $68 1855 ONEST 11/1312009 ; 28 28 5320 Colfax Avenue Woe $117,000 3 1 1414 $83 1947 ONEST 12/3012009 36 36 5615 Bryant Avenue Z� $131,000 3 1 1491 $88 1966 ONEST 12/2812009 ! Be ae 5909 N Emerson Avenue 69(0 0 $138,000 2 2 1106 $125 1850 ONEST 09/30/20W] 177 _ 177 Averages; $84,336 2.6 1,4 1288 $2,686 1950 1 47 108 i i i Apr 09 2010 1:01PM HP LRSERJET FAX p.11 CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19, 2010 through April 9, 2010 You must return this application by April 9. 2010. to be placed on the Agenda for the Local Board of Appeal and Equallzatlon held April 19, 2010 at 7:00 P.M. Names) 4_�'oti� Daytime Contact Number; �l Property Address rf� I lnlC; 1 ✓& /L�) - Property Identification Number < "� • 11S:� — 4 4 4 - _a ! �Q- T Assessor's 2010 Estimated Market Value Is your property residential, commercial or multi- family? If you are appealing a commercial, multi- family or residential rental property you must Include income and expense data for calendar year 2009 with your application. What is the reason you are appealing your 2010 P l assessment? Q L� 1'7+ r ex y<i & 7 u.JJ Al27- n' t l / a (;) When did you purchase your home? Date of Purchase ' - 7 - /'< Cr 2.;6 Purchase Price Did you purchase your property from a bank, as a foreclosure or short sale? Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. Have you had a recent appraisal for refinancing, sept market analysis by a real estate agent completed within the last year? Yes If so, what was the determination of value? -Y- , /t ✓G rvu ': What do you think the market value of your property should be? Please provide any documentation supporting your claim of overvaluation or erroneous classification with this application. In order to avAea/ your vaivation an appo intment to view the grogerty wilt be required Rpr 09 2010 1:01PM HP LRSERJET FAX P•12 CEL Monton, LLC Proflt & Loss $331 IRVING Jan - Dec 09 Ordinary Income/Expense Interne 4100 - Rental Income 9,810.00 4200 - Poo Income 4220 - Late Fes Income 40.00 Total 4300 - Fee Income 40.00 Total income 9,1150.00 Expense 6100•Insurance 6110 • Property Insurancs 538.82 Total 6100 - Insurance 538.82 5200- Interest Expense 4220 - Loan Interest 4,437.58 Total $200 • Internet Expense 4,437.58 6300 • Repairs 5310 - Building Repairs 1 DO.00 5300 • Repairs - Other 463.00 Total 11300 • Repalm 583.00 $200 -Tows 6230 • Property T 3.ae2.75 Total 6300 - Texas 3,882.76 7040 - Licenses and Permits 105190 7090 - Property M #Intanancs 300.00 Total Expense 6,908.14 Net Ordinary Income 58.14 Net Income 4!.111 Page 1 Review Of 5351 Irving Ave N PID# 02 118 2144 0104 For Cel Monton LLC 2010 Board of Appeal and Equalization s City of Brooklyn Center A Millennium Community TO: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID# 02- 118 -21 -44 -0104 Cel Monton LLC 5351 Irving Ave N Brooklyn Center, MN 55430 A representative of Edlich Realty contacted the 2010 Local Board of Appeal and Equalization regarding the 2010 estimated market value of the property located at 5351 Irving Avenue North by telephone on April 8, 2010. This property has a 2010 estimated market value of $114,500. The board directed Mr. Edlich to schedule an appointment for an interior review with the Assessor's office. A review of the property was scheduled on April 21, 2010 with an appraiser from the Assessor's office. The property is a 912 sq. ft. rambler with a one car detached garage in average condition. The Main level includes a living room, kitchen, three bedrooms, and one full bathroom. The main kitchen has original cupboards with a face brick back splash. The main full bathroom is considered average, with minimal updates. The basement finished area includes one family room, and encompasses 50% of the total basement square footage. There is no basement bathroom or roughed in plumbing for a future bath in this property. The property has a small glazed porch, a gas forced air furnace and no central air conditioning. The property was assumed during the last quintile review in 2008. After reviewing the property changes were made in physical characteristics to decrease the quality finish of the glazed porch area. After reflecting the characteristic changes, the property calculates an estimated market value of $111,800. As requested, Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was provided to the council in the initial appeal packet from the owner. Documentation was provided to the Assessor's office with an actual rent figure of $1,150, and a total 2009 annual income of $9,810. Additional comments indicated rents were decreasing as owners renew yearly leases. The subject property was purchased on July 22, 2008, and the rental license was not issued until March 12, 2009. It is assumed that the original lease amount is currently still in place. In discussion with the Assessor, Mr. Wahl indicated that the tenants were responsible for all utilities, maintaining the yard, and snow removal. Due to the lack of itemization of repairs and maintenance expenses, and missing rental fee expenses, the owner's documentation was reviewed, but not felt reliable for use in calculating the income approach. As the majority of single family residential properties in Brooklyn Center are owner occupied, more weight is given 6301 Shingle Creek Parkway Recreation and Community Center Phone & TDD Number Brooklyn Center, MN 55430 -2199 (763) 569 -3400 City Hall & TDD Number (763) 569 -3300 FAX (763) 569 -3434 FAX (763) 569 -3494 www.cityolbrooklyncenter.org to the sales comparable approach rather than the income approach. A market derived income approach of a single family three bedroom rental property has been included with this report. pP g Y P p Y p The enclosed grid completed by the Assessor's office compares the subject property to three similar homes in Brooklyn Center. While the subject property is smaller than the average 1,000 sq. ft. home, adjustments were made to all comparables for size, quality and amenities. Comparable number one required the least amount of adjustments to be similar to the subject property. The enclosed comparable sales grid indicates a range of value for the subject property from $111,409 to $123,758. It is the Assessor's recommendation to reduce the 2010 estimated market value of $114,500 to $111, 800 for taxes payable in 2011. Respectfully submitted, Nancy Woj ik, SAMA City Assessor SUBJECT PROPERTY 5351 Irving Ave N Cel Monton LLC PID# 02- 118 -21-44 -0104 t +. e � ^fir y �m Land Characteristics Land Area 9,525 sq. ft. Building Characteristics Style: Rambler 912 sq. ft. Main Level Room Count: 5 / 3/ 1 Full Bath Below Grade Room Count: 1 / 0 Bd / 0 Bath Garage: 1 Car Detached Fireplace: 0 Porches /Decks /Misc.: Glazed Porch Central Air Conditioning: None Report Name: Images City of Brooklyn Center Printed: 04/28/2010 PID: 02- 118 -21 -44 -0104 Page: 1 Property Images 7 J . $1 LOGIS - Property Data System - City of Brook(yn Center elFilles on BC Server> <C:Trograrn FilesXLogisTDS cs> PropOy N7 House #' �lreet Name Un)t 1 Ph ota(s) on -filo Today's date: 04t20rt?10 1 Sketch(es) on file Release: 1,07.041 1 02 -118-21- 44-0 104 Address: 5351 frrincAr Logged on user: KCASTO 4 of 6 (Assessing -Karen Casto (PDS 1 Parcel'Search 2 Clear 3 {?rent 4 View Photcas a Parcel Status: ACTIVE C� -� Parc�Admtn�ratwn ,, I f', is I Information t= r Assesssar Comments = ` Ta x p a yer inquiry Report Parc„ Qivisioning - - _r — - - - -- - Tory PfCr llpdat - ! Pr�kylf� Hsi Stres Unit Zip Cade ( +) Assessor Project lJpdr ' Address: Assess'of Inquiry 02 <11 2 4 Oa04 0 1 . Isying Ave 5543© - TaxpVerlr m i; 1 a V AdRini*at 1 Current Owner Record(s) VariesInfaJrrratton "` ast.NaRUe I Fiat Ml�',.t3wnor ! Tam '�".Resaier4 Hertrypn tS':Ttat ►' Y Y N ..,. Lwt aged "r'" ''� ilrlltilpdata Tars Gds tlpck, E "ff. Wtdth Eff. P�c�aetty Area acreage: Frs tt Side: Rser Srde Rrghk Side ..'" 1Ja�e�icatrcefZje 2 S ea rtrstration S Irexmakrr _ 3 R2 }`ms' Pitt± CG: Exempts Sp}�pclDrst 086 Weterspd 1 �('earBui�k: 1954 �ahhdes Infr!ma fir, 1�Isdrr odes ` Value Information by Year x '+ er # Subs±?ri fidg- Iaae'taGhalra �Tokfk# Tax C?a: , I~imstc ( t ReINm Pr!1wri. PlC Wei A e `_ 1 1 47,000 f 67,500 0 114,500 1,145 N N N R O N is 2009 1 1 58,900 i 73.400 0 132,300 1,323 N j N N R - � - 0 N + Larx1 2008 1 1 60,900 91,800 0 152,700 1,527 Y ; N N R 100 N iretrons" ; "' 2007 1 1 58,000' 119,500 0 177,500 1,775 Y 1 N N R 100 N flesrdtral t.i f)I11 Block: 005 Add�ron f+leri gale Addition Ad #: 89550 Crirrcra) a Industria - Mu�i•�amily fd hard Prink El CA4A C~AAMA Inquiry lue Resider .M rkpt Vali,p CnmmPr, — I )I LOGIS - Property Data System - City of Brooklyn Center -FitesonBC Server> <CAProgram FitesXLogisXPDS cs> Property ID House# Street Name Unit 1 Photo(s) on file Today's date: 04r2Ot2010 1 Sketch(es) on file Release: 1.07.041 002 21 44 0104 Address: 5351 rvir-rgAv,_ N - Logged on user: KCAST4 Par c t a t Karen Casto (PDS 4 of ti � 1 Parcel Search 2 Clear 3 Pant 4 View Photos es Parcel Status: ACTIVE Last Appraised Year l J LMV Update In Tax Capacities Update Value Notice File Assessment Year: 2010 ManualAxsessment Manuall-and: 1- S ales Administration Sales Information Building Land Summary Sales Ratios Dwellin T f ualiky: St le: - Comparables Informa6 g Type: Single Family 607 y One LeveVRambler Minklax Codes Total GBA: 91 Age, 25 Zoning: R2 Price /T ime Adjustmen N Weight Parameters Basic Rate: $50.44 E ....\ Comparables Batch U f ' Adjusted Rate_: $5[1.$4 - - -> Ext. Wall X. F 0.0 Shape X. 1.0 [D Property Characteristics 4 Land Adi. Rate' GBA: $46,457 - -> Add Basement: $9,120 912 SgFt @ $10.00 Inspections Ded. Unf.GBA: $0 = ! 0 SgF.t @ FEE Residential Adjusted Total: ;_$5557 Commercial ! lndustn�=��.' - Multifamily � Field Card Print t Additive Amount: $17,t?04 " . -> Gareqe: $4.916 l}.ormeis: " $0 Patio Moors: $0 [' CAMA LAMA Inquiry Walkout $0 Air Gohd . $D Decks, qQ Market UalueResider Pattos:" $0 Porches: $2.4$4 Poois: $0 Market Value Commer Market Baths: $5,500 Fireplaces: $0 Fin .Bsmt: $4,104 t Value Multi Fa — " RateTables -Land Total Ccsk $7B7 Kitchen: $0 ° Rate Tables - Resider - LAMA Land 7.Q - -> " _ Depree�aton /: " -7.0 Influences °l: 0.0 Adjustments: LAMA Residential ®Qj Assessment Projects Functional % 0.0 E conamic %: - 0.0 Special Assessments _ Search Building Value: $67,500 [AMA Bldg. Mkt, Value: $67.500 Master Information Comments Flat Values: $0 Land Mkt. Value: $47,0[10 Flags Total Mkt. Value: $114,500 Mica Add �� 1 GIS - Property Data of Br ooklyn on 7 <C:Tr ogisX Property ID Mouse #' Street Name'. Unit " S Photo(s) on file Today's date: 04P.3r2010 1 Sketch(es) on file Release: 1.07.041 0211$ 21 44 0104 !J Address: 5351 tr+irr€1Ae -- - -- Logged on user: H.GAST© 4 of 6 � fAsse~ssina -Karen CastofPDS r r r�r 1 Parcel Search 2 . Clear 3 Pnnt 4 View Photos Parcel Status: ACTIVE R-, Parcel Admrntskratjon I In CAMA Farce! Wormation Assessor G ®mmenks � ✓ Assessment Year: 201I� Manwa�Ax essment r M anualL.anct r Parcel Divisianirrg, ; ` 'Temporary PID Updat t Assessor Projedt Upcl Building . Land " "� "Summa "Assessor Inry � Dwelli ngType; S ualit : Styl " Famrly �. �, ne �evelfRm�ler Taxpayerlr>ry RQi Y D l=# ? Values Admrrustf401) qui Tvta) GBA F Age:t3 Zoning: R Values Infcrrm►ri Baste Hate He r ! Homestead Update Adjusted Rate: 55f1.94 14, WaG %. C1' Shape l: 1.0 Last Appraised Y LMV update Ac$. Rate' GBA ` $4f,45 " Add Basement 59.120 912 agFt @ FEW Tarr CtacsUpdaG pad Unf.GE3A:Cl 0 ,SgFt @ - 530.OU File Valuelobce ` Adjusted Total, F 7755 S77 El Sales Adnwstrakua�t .Sales Infoirr�kior► Sales Rath Addrtve Amrtt 5113032 Caarage 54,916 (?c��mer: $[1 Patio floors: $0 ComparaW Ir ma " MinhAax Codes " 41�cuk $d Arr.Cd: " ELI ).ecks: $13 PricefTrmeAcstpteri Porches: $1 Pools: $0 ' Weight Parameters Compats3atr U Baths 55,5130 Fireplaces: Firr $smt: $4,104 B Propty,aratarrstrG Total Cost 571t6Q9 Kitchen: $0 Land lrisPecturrts 9.5 " . "=-- f3elareciation %. = Influences %: �I Q Adjustr►1en4s "' R esidenttal CamrnerciIt1t u..., onal economic /: ;0.Tt r cti t1 Q Multi Frek� dot BulldingV�. $64<$OCt .,. " CAM a,Bldg Mkt.:Value: $64� p r =AMA Flak Values SQ Land Mk +Value 547:C1QIJ GgMA Induy MarketV€44�efiesl'' , Tokal 4ra1e 800 MarkPtValrtr' rimmrl City of Brooklyn Center PID: 02- 118 -21-44 -0104 Property Type: R - Residential Value Info: Residential Field Card Property Address: 5351 Irving Ave N Zoning: R2 Year/Version: 2010/ 1 Printed: 04/23/2010 Lot / Block: 001 /005 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Meri -Dale Addition Owner(s): Cel Monton LLC Bldg: 67,500 Version: 1 District: Total: 114,500 Neighborhood: 0054 r t°ir- F T I ptAls '�6"' ....ka .t........ .. x .. ,n>x Gixu,. r��3 tau ,..........u. .. ..,__ .. ..... Model: Gar�ge#1.= Area (SgFt): 912 Kitchen Rtg: Standard Interior: Interior. Res Cond: Average Placement: Detached Type: Regular Interior: Sheetrock Trim: Trim: Dwell Type: Single Family # of Cars: 1 Finished ( %): 50 Trim: Hardwood Floor: Floor. Int. Layout: Standard Floor Area: 308 Quality: Average Floor: Wood Avg. Clear. Height: Avg. Clear. Height: Adjacent Property: Equal ,Condition: Average # of Fireplaces: Avg. Clear. Height: # of Fireplaces: # of Fireplaces: Manual Assess: N Exterior Walls: Wood Fplc. Quality: # of Fireplaces: Fplc. Quality: Fplc. Quality: View: Equal Avg. Clear. Height: Fplc. Quality: Actual Age: 1954 Elec. Svc: Standard Arch. /Appeal: Average Htg: Forced air, gas fired Effective Age: 1980 Walkout: Placement: 1s t•Btha {#I41;fal ( tY) g Quality: 607 Walkout Quality:,.: -� #1f��uali �¢Itt�g!� ; Renovated Age: # of Cars: Spa: / Spa / Spa: / Shape: Irregular Floor Area: Dix: / Dix: / Dix: / Functional %: Condition: Full: 1 ! Average Full: / Full: / Style: One Level/Rambler Exterior Walls: 3/4: / 3/4: ! 314: ! Economic %: 1/2: / 1/2: / 1/2: ! Construction: Wood Frame Fasemeni3aths (tR1 - p �.. Spa- / Building Af�s; Exterior Walls: Wood Glazed Area: 108 p t0 Unfin. 1st GBA: Dix: / Sgt R Cod° ,?¢t�un>, Quality: Average Full: / Bedrooms. 3 Bedrooms: Bedrooms: Unfin. 2nd GBA: Exterior Trim: Screened Area Unfin. 3rd GBA: 3/4: / Baths: 1 Baths: Baths: Quality: 1/2: / Family: Other: Other: Unfin. Total GBA: Roof Type: Hip Open Area: Living: 1 Total Rooms: Total Rooms: Quality: Dining: 1 st Floor Area: 912 Roof Cover: Shingles�'' a' Kitchen: 1 2nd Floor Area: Bedrooms: Other: 3rd Floor Area: �,� .�' Baths: Total GBA: 912 Window Type 1: Double Hung - g Total Rooms: 5 Patio 1 Area: Family: 1 Quality. Kitchen: (`!al# i/alfe ; r � t Window Type 2: Patio 2 Area: Other: Value: Air Conditioning: No Quality: Total Rooms: 1 Desc: Total Rooms Dormer Length: Bedrooms: 3 Baths 1 Dormer Quality: Deck 1 Area: Family: 1 y Date: 07/2212008 Appraiser ID: 18 Appraiser ID: Quality: Living: 1 Price: $62,000 Appraisal Date: 04/21/2010 # Patio Doors: Deck 2 Area P Dining: 0 Code: 15 Reason: Board of Review Appraisal Date: Quality: Kitchen: 1 Desc: Forced Sale Result: Interior Last Interior Inspection: 04/21/2010 Reason: Other: 6 6 Total: .,> Pool 1 Area Result Quality: Pool 2 Area Left Tag: Yes/ No Quality: P .< -..�. ORIG WINDS, NO WRAP. WOOD SOFFITS. AVG EXT COND/NEEDS ROOF /08. POSTED & VACANT AT 08 REVIEW. INTERIOR INFO PER MLS. ORIG CABS & FACEBRK BKSPLSH IN KITCH. BSMT FIN PAINTED PANELING. AVG GEN'L COND. 10 Asmt appeal. 2008 9 new DB windows. New roof. Bsmt has paneling and cement flooring. Kitchen has original cupboards. GMC =F Torn screen and side step cracked. Interior wall of porch is wood siding. City of Brooklyn Center PID: 02- 118 -21-44 -0104 Property Type: R - Residential Value Info: Residential Field Card Property Address: 5351 Irving Ave N Zoning: R2 YearNersion: 2010/ 1 Printed: 04/23/2010 Lot / Block: 001/005 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Meri -Dale Addition Owner(s): Cel Monton LLC Bldg: 67,500 Version: 1 District: Total: 114,500 Neighborhood: 0054 a oft >'�ttrautes Inrenui�sliFi��mensians Land Type: Standard Lot Frontage: 75 Park: Alley Length Width So Ft Land Quality: B05 -Land Left Side: 127 Park Quality: Gas 38 24 912 Area Rating: Average Rear Sider 75 On Lake: Paved Street 0 0 0 Site Rating: Good Right Side: 127 Lake Quality: Sewer Available 0 0 0 Zoning: R2 Effective Width: 75 On River: Water Available 0 0 0 Contamination: Effective Depth: 127 River Quality: 0 0 0 Flood Plain Map Ref: Effective Water: Landscape Quality: Average 0 0 0 PUD Ref: Property Area (SgFt): 9,525 0 0 0 Allowable Units: Acreage: Not Buildable: N Excess Land (SgFt): Adjacent Owner: N Usable SgFt: Flood Plain: N Flat Desc: Zoning Variance: N Flat Amount: Manual Land: N I 1 -- - -• -- 2,- - -- --•- im Porch 10$' 17' i R�— First Floor N .a' 912' 1. 14' 38' Garage 308' N M: 14' basernem 912' 38' Sketch by Apex 1V"" Report Name: City of Brooklyn Center Printed: 04/28/2010 Shles Comps Details Sales Comps Details Page: 1 Item Sub'ec COM01 Comp2 Cm p3 H d� °j`' ry �� �'I�119�I�i���� ,r 4• i, % fin i' PID 0211821440104 0111821230092 0111821210111 3611921330025 Address 5351 Irving Ave N 5831 Dupont Ave N 5921 Bryant Ave N 6100 Emerson Ave N District Sale Price $62,000 $110,000 $122,000 $138,500 Sale Date 07/22/2008 07/30/2009 02/06/2009 09/25/2009 Cash Equivalent $118,340 $138,380 Price Per Sq. Ft. $67.98 $127.31 $123.27 $147.84 Dwelling Type Single Family Single Family Single Family Single Family Style One Level/Rambler One Level/Rambler One Level/Rambler One Level/Rambler Property Area 9,525 11,390 10,472 10,452 Actual Age 1954 1955 1950 1954 Effective Age 1980 1980 1980 1985 Quality Class B07 B07 B07 B07 1 st Floor Area 912 864 960 936 Total GBA 912 864 960 936 Finished Area 1,368 1,296 1,320 1,620 Basement Area 912 864 720 912 Basement Finished ( %) 50% 50% 50% 75% Total Bedrooms 3 3 2 3 Total Bathrooms 1 1 • 2 2 Garage 1 Floor Area 308 280 240 308 Garage 1# of Cars 1 1 I 1 Garage 1 Placement Detached Attached Attached Attached Total # of Cars 1 1 1 1 Walkout Type Air Conditioning No Central Central Central Pool Area -Total Fireplaces 1 Deck Area -Total Porches 108 114 River Lake Influences Thru Street Sq. Ft. Adj $42,044 $2,468 ($2,004) ($2,194) Add Bsmt Adj $8,254 $521 $1,738 ($228) Ded Unfin GBA Adj Site Adj $47,000 Garage Adj $4,449 $289 $800 ($266) Walkout Adj Patio Adj ($125) Bath Adj $4,978 ($1,735) ($5,882) ($7,112) Air Conditioning Adj ($1,611) ($1,738) ($1,741) Porch Adj $1,368 $1,368 $1,368 ($1,070) Fireplace Adj ($1,810) Deck Adj Fin Bsmt Adj $3,714 $234 $782 ($2,011) Misc. Adj Total Adj $111,807 $1,409 ($6,746) ($14,622) Market Adj Value $111,409 $111,594 $123,758 CL f 9 62nd' Ave N ummit Or N Comp 3 ea v 81st Ave N m E m � Grandview Wh Ave N Mh Ave N a' b t .Park 591h Ave N z z 59th Ave N 't t z o Comp 1 ID S M p a to 0 581h Ave N Uj St11h Ave N ° W Rd 3 7th ° � E 57th Ave N — _ 57th Ave N_ _ 57lh Ave N s SBth Ave N ( I z 5Mh Ave N z Z �2 ' fricon Or Ab z < � z � z E? c 4 i le e N _ n 5&h Ave N � E o G x 5&h Ave N _ U.1 B ollvufk (4t 4 C � Park ? z ED I 41 4 1 . } ... a L 7 ; ! 2010 Mir.+LbrpoFAA. c 0 7vAYTE,Q.i !d JtND COMPARABLE SALES MAP COMPARABLE #1 5831 Dupont Ave N COMPARABLE #2 5921 Bryant Ave N COMPARABLE #3 6100 Emerson Ave N Report Name: SalesInformation City of Brooklyn Center Printed: 04/28/2010 Page: 1 Sales Information Report 02- 11 8-21 -44 -0104 - 5351 Irving Ave N Sale Date Sale Price Cash Equiv Sale Tyne Sale Ratio Comments A& Yr Yur 0v Yr 0v Ytr- 07/22/2008 $62,000 $0 01- Warranty Deed 15 - Forced Sale 2009 1 0 0 01/03/2006 $187,860 $0 01- Warranty Deed 00 - Good Sale 2006 1 0 0 02/01/1995 $1 $0 11- Other 99 - Conversion -X Sales FORECLOSURE 2005 1 0 0 04/01/1977 $36,000 $0 11- Other 00 - Good Sale FROM MLS 2005 1 0 0 02/01/1975 $31,000 $0 11- Other 00 - Good Sale FROM MLS 2005 1 0 0 Report Name: Permit List Printed: 04/20/2010 City of Brooklyn Center Permit List Page: 1 Permit List for: 5351 Irving Ave N Permit Ilnii Value Permit Type Sub Type Work Tvoe Description Cancelled Issued Date Final Date Dead Date Expiration Date Refund Date BCO36529 $2,000 Building Residential Reroof Replace TEAR OFF AND 09/08/2008 11/18/2009 REROOF BCO24555 $700 Electrical Residential 1 & 2 Famil, Replace REPAIR WIRING & 05/26/2004 06/07/2004 INSTALL SMOKE DETECT BC004782 $1,700 Mechanical Furnace Replace FURNACE 04/25/1995 08/09/1995 BC003929 $400 Plumbing Residential Replace WATER HEATER 09/15/1994 08/09/1995 Permit Count: 4 i x CITY OF BROOKLYN CENTER LICENSE INFORMATION PID: 0211821440104 License Information: License Number: 01004241 License Status: A 13 License Type: Rental License Location: 13 Business Applicant: Company: Douglas Allen Wahl Business Address: 1845 Stinson Parkway NE, Business City: Minneapolis Business State: MN Business Zip: 55418 Telephone: 6127828888 Assigned Dates: 0 Applied: 10/8/2008 Inspected: 10/27/2008 Council: 3/9/2009 Issued: 3/12/2009 F! Expiration: 10/31/2010 2010 INCOME APPROACH ANALYSIS Single Family Residential Rental YEAR OF CONSTRUCTION: 1954 PI D: 02- 118 -21 -44 -0104 Owner(s) : Cei Monton LLC 5351 Irving Ave N. Brooklyn Center, MN ACTUAL MARKET Unit Type # Bedrooms RENT RENT 0 STUDIOS $0 $0 0 1 BEDROOMS $0 $0 0 2 BEDROOMS $0 $0 1 3 BEDROOMS $1,150 $1,200 0 4 BEDROOMS $0 $0 1 Garages $0 $35 Garage stalls included in rent MONTHLY ADJ. RENT $1,235 TOTAL ANNUAL ADJ. RENT $14,820 GROSS BUILDING AREA 912 LAND AREA 9,525 CAPITALIZATION PROCESS MARKET POTENTIAL GROSS RENT (PGI) $14,820 LESS: VACANCY & COLLECTION LOSS % OF PGI ' - 2.00% ($296) OTHER MISC INCOME 1.00% $148 (Application Fees& Late Fees) EFFECTIVE GROSS INCOME $14,672 LESS: ANNUAL EXPENSES: % OF PGI Insurance - 4.50% ($667) Rental License - 3.00% ($445) Maintenance & Cleaning - 5.00% ($741) Reserves for Repairs - 2.00% ($296) TOTAL ALLOWANCE - 14.50% ($1,853) ANNUAL NET INCOME $10,670 RETURN ON & OF PERSONAL PROPERTY $1,500 HOUSEHOLD @ ($180) NET INCOME TO REAL PROPERTY $10,490 CAPITALIZATION: CAPIITALIZATION RATE 7.00% EFFECTIVE TAX RATE AVERAGE 1.66% * OVERALL CAP RATE 8.66% 8.66% 2010 CAPITALIZED VALUE OF PROPERTY $121,136 * For Ad Valorum Tax Calculations, property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation. Monthly rent does not include utilities. Tenants are responsible for paying water, gas, electric, garbage, maintaining lawn and snow removal. R P r 09 2010 1:18PM HP LRSERJET FRX P. 1 CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19, 2010 through April 9, 2010 You must return this application by6pril 9.2010. to be placed on the Agenda for the Local Board of Appeal and Equalization held April 19, 2010 at 7;00 P.M. Name(s) 4 ��1 1�if7CJrt,� �L� Daytime Contact Number: �k; — Property Address & 42627 Property Identification Number Assessor's 2010 Estimated Market Value Is your property residential, commercial or multi - family? If you are appealing a commercial, multi - family or residential rental property you must include Income and expense data for calendar year 2009 with your application. What is the reason you are appealing your 2010 assessment? fi �rJ �l /1.t C� %''YJ�' - �l •.itC rr r �,i�' •.� 1�� I� /•�• �!1 �� �Q� � °_ g "P�' �'•� b • -- _ tic' �c�+1 � / f.G•� C o•�tcyl. � � c � n � t�.a. ,1� O-�L✓' /� � �[�� � �� /`is ric�G� r r &� /ll,u y _ 666r When did you purchase your home? Date of Purchase Purchase Price Did you purchase your property from a bank, as a foreclosure or short sale ?. Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. Have you had a recent appraisal for refinancing, purchase r a market analysis by a real estate agent completed within the last year? Yie If so, what was the determinotion of value? t-[a lAf . A.4, r g;e(rv6-/�wJ 7.r`'ir✓► What do you think the market value of your property should be? Please provide any documentation supporting your claim of overvaluation or erroneous classification with this application, in order to appeal your valuation an appointment to view the property will be reauired Rpr 09 2010 1:18PM HP LRSERJET FRX P• CEL Monton, LLC Profit & Loss 3707 61ST AVE NQ. Jan - D" OQ Ordinary Income/Expense Income 4100 • Rental Income 8,053.34 Total InODM41 9.083.34 Expense 6100 Insurance 5110 - Property Insurance 530.41 Total 6900 • Insurance 530141 9200 • Interact Expense 5220 • Loan Interest 4,453,76 Total $200 • Interest Expense 4,435.78 5300 • Repairs 3,868.07 5400 • UUlltiee 8410 Ons 142,89 9420 Water 109.72 0430 Electric 43.75 Total $400 - Utilities 296.18 $000 • MATt RIALa 1,298,35 8200 • Taxes 6130 , Property Yemen 2,789.98 Total 6200 • Taxes 2,789,98 7040 • Licenses and Permits D00.00 7090 • Property Maintenance 239.00 7091 • Cleaning Expense 400.00 Total Expense 14,567,73 Net "nary Income - 6,51419 Not income 4,614.31 Pape 1 Review Of 3707 61st Ave N PID# 03 118 2112 0079 For Cel Monton LLC 2010 Board of Appeal and Equalization 0 m" mx Im ION— me F �c L City of Brooklyn Center A Millennium Community T0: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID # 03- 118 -21 -12 -0079 Cel Monton LLC 3707 61 AveN Brooklyn Center, MN 55429 A representative of Edlich Realty contacted the 2010 Local Board of Appeal and Equalization regarding the 2010 estimated market value of the property located at 3707 61 Avenue North by telephone on April 8, 2010. This property has a 2010 estimated market value of $151,800. The board directed Mr. Edlich to schedule an appointment for an interior review with the Assessor's office. A review of the property was scheduled on April 22, 2010 with an appraiser from the Assessor's office. The property is a 1,296 sq. ft. rambler with a one car detached garage in average condition. The main level includes a living room, family room, eat in kitchen, dining area, two bedrooms, and one full bathroom with Jacuzzi tub. The main floor finish is sheetrock walls with refinished wood floors, the original kitchen cabinets, a vaulted family room addition with gas space heater and atrium glass doors to the dining area and a full bathroom. The basement finished area includes one family room and two other rooms. There are no egress windows. The basement finish includes higher ceilings, sheetrock finish and a floor plan that walks from one room through another, then directly into the % bath. The new basement bathroom is considered average finish, as it is smaller in size. The finished area comprises 75% of the total basement square footage and is considered a very good quality. The property has a gas forced air furnace and central air conditioning. The last interior property review was completed in June, 2005. After reviewing the property, no changes were made to the physical characteristics. The property currently has an estimated market value of $151,800. As requested, Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was provided to the council in the initial appeal packet from the owner. The actual rent figures of $1,100, and a total 2009 annual amount of $8,053 were provided to the Assessor's office. While most homes with 1,200 plus square feet have three bedrooms, this property has only two so the rent of $1,100 is slightly higher than market rent for a two bedroom, but is explainable due to the overall size. The $1,100 monthly rent was used as 2009 rent for a market income approach. Additional comments indicated rents were decreasing as owners renew yearly leases. The subject property was purchased January 8, 2009, and the rental license was issued April 14, 2009. It is assumed that the original lease amount is currently still in place. In discussion with the Assessor Mr. Wahl indicated that the tenants were responsible for all utilities, maintaining the yard, and snow removal. Due to the lack of itemization of excessive repairs, and deducted expenses that are obligations of the tenant, t o wner's documentation 6301 Shingle Creek Parkway Recreation and Community Center Phone & TDD Number Brooklyn Center, MN 55430 -2199 (763) 569 -3400 City Hall & TDD Number (763) 569 -3300 FAX (763) 569 -3434 FAX (763) 569 -3494 www.cityolbrooklyncenter.org was reviewed, but not felt reliable for use in calculating the income approach. As the majority of single family residential properties in Brooklyn Center are owner occupied, more weight is given to the sales comparable approach rather than the income approach. An income approach of a single family two bedroom rental property has been included with this report. Mr. Edlich did not provide a comparative market analysis listing of comparable homes in Brooklyn Center with the initial appeal application for the subject property. The enclosed grid completed by the Assessor's office shows the subject property adjusted value at $151,890. The comparable grid compares the subject property to three similar rambler homes in Brooklyn Center. While the subject property is larger than the average 1,000 sq. ft. home, three ramblers sales were chosen as comparables in the 1,200 to 1,300 square foot range. Adjustments were made to all comparables for size, garage, basement, and amenities to be like the subject property. Comparable number two required the least amount of adjustments to be similar to the subject property. The enclosed comparable sales grid indicates a range of value for the subject property from $153,470 to $163,475. It is the Assessor's recommendation to sustain the 2010 estimated market value of $151,800 for taxes payable in 2011. Respectfully submitted, Nancy W * ik, SAMA City Assessor SUBJECT PROPERTY 3707 61 S Ave N Cel Monton LLC PID# 03- 118 -21 -12 -0079 y � ' ae 1 , Land Characteristics Land Area 9,525 sq. ft. Building Characteristics Style: Rambler 1,296 sq. ft. Main Level Room Count: 6 / 2 / 1 Deluxe Bath Below Grade Room Count: 3 / 0 Bd / 3 /4 Bath Garage: 1 Car Detached Fireplace: 0 Porches /Decks /Misc.: Patio Central Air Conditioning: CAC Report Name: Images 9 Printed: 4/30/2010 PID: 03- 118-21 -12 -00 City of Brooklyn Center Pa 1 Property Images .q y 41 s y Y uN N„ 9.. Report Name: Taxpayer Inquiry City Of Br Center Printed: 4/15/2010 Taxpayer Inquiry Page: 1 Display PID House Nbr Street Name unit Zip Code + 03- 118 -21 -12 -0079 3707 61st Ave N 55429 Last Name First Name mi Owner Taxpaye Residen Cel Monton LLC Y y N Frontage Left Side Rear Side Right Side EM Width M De t�h Propert Area Acrea Zonjhg EYE Exempt Code School Dist Watershed Yr Built 75 0 0 0 80 149 9,525 0.00 R1 0281 14 1955 Year Ve #Subs Land Value Big Value Mach Value Tot Mkt Value Tax Can Hmstd Midvr Rel H Pff %Own m 2010 1 1 47,000 104,800 0 151,800 1,518 N N N R 0 N 2009 1 1 58,900 103,100 0 162,000 1,620 N N N R 0 N 2008 1 1 61,700 131,200 0 192,900 1,929 N N N R 0 N Lot: 010 Block: 004 Addition: Wangstad's Brooklyn Terrace I i ...I LOGIS - Property Data System - City of Brooklyn Center 4fles on BC Server> -C:Trogram FiteslogisTIDIS cs:- ; � �911 �j �i Property IR � AHousejo ej lame, 'i# 1'Photos)on file Today' date:04M 32010 1 Sketches)on file Release: 1.07.041 03 118 21 12 0079 Address: 707 stave Logged on user: KCASTO (Assessina-Karen'Casto(PDS 2of13 1 Parcel Sear 2.Clrrar "Print 41!iety ff*s ,..g Parcel Status: ACTIVE K.,, , C� F'arc�Admu pkric>In ., Parrrellrfoiinat 4 , Assessor Comments � " = . Parc�el�ivis�onrrr AssessmentYa< inl��lA lk M�in�r�ILan�t I" Tom ovary Plp� Assessor Project tJpd 9.`, �.: t attd $ure 3 Assrssor tncy T, .. Taxpayer irxtuxy rulrty Q Sky1e." rte L�v11Rrlet �Q C7 valuio$ inistr�ki 1 T#�:CBA 1 25 on rg R1 19 1 .Values lnfcurrr„�k � '.0 9 �nr#W l,F{IFR,Il 3 , 73f+YR7,l�f� 3 3 �t'4�:5 ; Y : h Ev .•iw.19 d h F y g HQn6.;33# d utd fl a ?li t,as�t Ap�rels�d Yr t ._ � :0 T:0 j,k x 1.... Tax :_, ,,,,',,, x i ° . p0,ii 3 :: ' ,.91.. �I:.. ,5 9 1 , kE y3.1,11 A eft T _ �' A _ �, 99"}; Pf�y/'�l �(j C1l �� 'i" ,ni x+4^ r+t '1-; '!�'.' t} `s3.'¢a.". .,'.,,,- �ah�" ",'. J.«w� Y -.£.iii,r: k + .... „ ,s Ir I,".x. _, ,. _�. . , $5 � P rs, 500"I 9 (nSpCtif#rrS h +t ` ' - ,y. ,: AW£.. t'� �n�cvr."",r', k , �' �B '- yea� ,fi�F I;11 Ili I = Correa 1144. ' Per" p "Flamm - $o 11 11.11 2 p �W,, y 11 x Mu f . _, r te .� k ,, m r0 FN1 $11.08$ 11 41 a[cl Cerra Prat R v � -w--•--- - 1. n 14 ',. x pp 49 / Y�y ,/f✓ y ? o {8 Sy �. ? a S% e Via"!' 3. ''�''� a ,r-, .., ' Auskment „ � 2 , ,. z I 2a'0 ' s �: „r � �� : �� sw x (� (�11 11 16 E.,. ,'C FTI.'nM, .i-4 ,EIS�tE ..: 'x.33 ': 11„ , !._ C v „,,$ 2 K, p °-- �i ".. ,p - , d, E pp s ��y,y��. 9 � �:• . . 1' Ma,Irz F . Ir .. s � �, „ , v' u �( e :., � ,.: �.,,, ,;: �. 1.i11C1 tkt'V�llr' o- �. "', 47 000 I 'r 11 r 1,k �. 68� p d ^' y ssmenk.Pto eats ��,.„ t l ,. , 1�n Tot kk 1lalue: 51. QO . �:. t 1 r.rr, ii,., ' nenrl Ats� cmPnte..,. �,� �: %.. „E s is �: mil+ a ?"'- d-1 I fz >'i'y d & 3p ':soy '�'�`3 f ,,. , ., ,. City of Brooklyn Center PID: 03-11B-21-12-0079 Property Type: R-Residential Value Info: Residential Field Card Property Address: 3707 61st Ave N Zoning: R1 YearNersion: 201Q/ 1 Printed: 4/27/2010 Lot/Block: 010/004 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Wangstads Brooklyn Terrace Owner(s): Cel Monton LLC Bldg: 104,800 Version: 1 District: Total: 151,800 Neighborhood: 0053 Model: Area(SgFt): 1,056 Kitchen Rtg: Standard Interior. Interior: Res.Cond: Good Placement: Detached Type: Regular Interior: Sheetrock Trim: Trim: Dwell Type: Single Family #of Cars: 1 Finished(%): 75 Trim: Hardwood Floor: Floor: Int.Layout: Standard Floor Area: 352 Quality: Very Good Floor: Wood Avg.Clear.Height: Avg.Clear. Height: Adjacent Property: Equal Condition: Average #of Fireplaces: Avg.Clear. Height: #of Fireplaces: #of Fireplaces: Manual Assess: N Exterior Walls: Wood Fplc.Quality: #of Fireplaces: Fplc.Quality: Fplc.Quality: View: Positive Avg.Clear.Height: Fplc.Quality: Actual Age: 1955 Elec.Svc: Standard Arch./Appeal; Average i 7 Htg: Forced air,gas fired Effective Age: 1985 . ..� Walkout: Quality: B06 Placement Walkout Quality: ,, Renovated Age: #of Cars: Spa / Spa: / Spa: / Shape: Irregular Floor Area: Dix: 1 / Very Good Dix: 7 Dix: / Functional%: Condition: Full: ! Full: / Full: / Style: One Level/Rambler Exterior Walls: 3/4: / 314: t 314: / Economic%: 1 Construction: Wood Frame _ ' F / 1 . Glazed Area: .. Spa. / r yH Exterior Walls: Metal Dlx: / _ �" ;i_. t GBA: Quality: Full: / Bedrooms: 2 Bedrooms: Bedrooms: Unfin.2nd GBA: Exterior Trim: Brick Screened Area: 314: 1 / Average Baths: 1 Baths: Baths: Unfin.3rd GBA: Quality: 1/2: / Family: 1 Other: Other: Unfin.Total GBA: Roof Type: Gable Open Area: Living: 1 Total Rooms: Total Rooms: Quality: Dining: 1 1 st Floor Area: 1,296 y Roof Cover: Shingles Kitchen: 1 2nd Floor Area: Bedrooms. 3rd Floor Area: .:- � . .:• Other. Window Type 1:Double Hung ` 1 E Baths: 1 Total Rooms: 6 Total GBA: 1,296 Patio 1 Area: 200 Family: 1 Window Type 2: Quality: Very Good Kitchen: Patio 2 Area: Other: 2 Value. Air Conditioning: Central Quality: Total Rooms: 3 Desc: w Dormer Length: t y'. Bedrooms: 2 Date: 01/08/2 ,, Baths: 2 Dormer Quality: Deck 1 Area: Family: 2 Quality. 009 Appraiser ID: 11 Appraiser ID: Living: Price: $67,000 Appraisal Date: 04/22/2010 g' Deck 2 Area: PP #Patio Doors: 1 ode: 15 Reason: Board of Review Appraisal Date: Dining: 1 Code: PP Kitchen: 1 Desc: Forced Sale Result: Interior Other: 2 Last Interior Inspection: 04/22/2010 Reason: Total 9 0 � r a ,.., Pool 1 Area: Result: Quality: Left Tag: Yes/No Pool Area: 9� QuallkeItJt17n k F=HEIL.PARK VIEW. 9'CEILINGS IN BSMT.BSMT OTHER ROOM ATTACHED TO LARGE CLOSET AND BATH.NO EGRESS WINDOW, ' """ WALKTHRU FROM BATH TO CLOSET AND INTO ROOM. NEW VANITY&JAC TUB IN MAIN BATH=DLX. PORCH CONVERTED TO GBA, HEATED YEAR ROUND WITH GAS SPACE HEATER,LIVING FINISH. CT ENTRY. WRAPPED NEWER WINDOWS IN GOOD COND. SAG IN GAR ROOF. EAT IN GALLEY KITCH W/ORIG CABS&NEWER COUNTERS. MFSF. City of Brooklyn Center PID: 03-118-21-12-0079 Property Type: R-Residential Value Info: Residential Field Card Property Address: 3707 61st Ave N Zoning: R1 YearNersion: 2010/ 1 Printed: 4/27/2010 Lot/Block: 010/004 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Wangstads Brooklyn Terrace Owner(s): Cel Monton LLC Bldg: 104,800 Version: 1 District: Total: 151,800 Neighborhood: 0053 ft> u � "By lid in t)i `ntnnal Land Type: Standard Lot Frontage: 75 Park: Wangstad Park Gas pnoth Width Land Quality: B05-1-and Left Side: Park Quality: Average Irregular Shape 24 44 1056 Area Rating: Very Good Rear Side: On Lake: Paved Street 15 16 240 Site Rating: Good Right Side: Lake Quality: Sewer Available 0 0 0 Zoning: R1 Effective Width: 80 On River: Water Available 0 0 0 Contamination: Effective Depth: 149 River Quality: 0 0 0 Flood Plain Map Ref: Effective Water: Landscape Quality: Average 0 0 0 PUD Ref: Property Area(SgFt): 9,525 0 0 0 Allowable Units: Acreage: Not Buildable: N Excess Land(SgFt): Adjacent Owner: N Usable SgFt: Flood Plain: N Flat Desc Zoning Variance: N Flat Amount: Manual Land: N I 20 i PATIO 1 200' !. t '�! •y Porch 1 240' r 1 Jr ,y Garage w 352 _M First Floor M 1056" 16' A4• Basement :a . ...1056•.. 44' Sketch by 4ex IV"" Report Name: City of Brooklyn Center Printed:4/28/2010 Sales Comps Details Sales Comps Details Page: 1 Item Subject Comnl Comp2 ComI13 N; PID 0311821120079 0311821240031 3311921130024 3311921420074 Address 3707 61st Ave N 3918 France P1 5130 Winchester La 5206 Eleanor La District Sale Price $67,000 $162,000 $160,000 $166,000 Sale Date 01/08/2009 07/30/2009 06/29/2009 05/15/2009 Cash Equivalent $157,140 Price Per Sq.Ft. $51.70 $122.77 $122.14 $119.42 Dwelling Type Single Family Single Family Single Family Single Family Style One Level/Rambler One Level/Rambler One Level/Rambler One Level/Rambler Property Area 9,525 9,679 16,620 9,525 Actual Age 1955 1955 1958 1958 Effective Age 1985 1980 1980 1980 Quality Class B06 B06 B06 B06 1st Floor Area 1,296 1,280 1,310 1,390 Total GBA 1,296 1,280 1,310 1,390 Finished Area 2,088 2,030 2,023 2,075 Basement Area 1,056 1,000 950 1,370 Basement Finished(%) 75% 75% 756/. 50% Total Bedrooms 2 3 3 3 Total Bathrooms 2 2 2 2 Garage 1 Floor Area 352 576 440 528 Garage 1#of Cars 1 2 2 2 Garage 1 Placement Detached Detached Detached Detached Total#of Cars 1 2 2 2 Walkout Type Air Conditioning Central Central Central Central Pool Area-Total Fireplaces 2 1 1 Deck Area-Total 424 80 Porches 240 River Lake Influences Sq.Ft.Adj $64,059 $3,695 $2,458 ($801) Add Bsmt Adj $10,032 $982 $1,434 ($2,367) Ded Unfin GBA Adj Site Adj $47,000 Garage Adj $5,263 ($3,922) ($829) ($1,838) Walkout Adj Patio Adj $190 $190 $190 $190 Bath Adj $11,875 $2,825 ($343) $2,825 Air Conditioning Adj $2,462 $145 Porch Adj ($4,996) Fireplace Adj ($3,620) ($1,810) ($1,810) Deck Adj ($3,070) ($579) Fin Bsmt Adj $10,534 $1,031 $1,507 $1,855 Misc.Adj $475 Total Adj $151,890 ($3,670) ($463) ($2,525) Market Adj Value $153,470 $159,537 $163,475 Wilk. roh lie N w $ Z Lane z x x � l0N 4m Lit N "th Ave N Park < x Ave N AVON z j UM Ave N 88 yr mm N Fair 671h Ave N - efth Ave wttaal Ln w 8elh lie.N fAM Awr N 4 1NinNr to Ave N 48th Ave N 88dt r w N 6 l�¢ t�#t dlw 31 r Pt'fe� '-4�Iih Aw N j'• -'' ,-...: r or xn f4$ Z Z&IM Ave N 83rd Avt N Mash city Pwk �,.. ,. k 6ZV+v LA rth �'� lwr►a f Out Ave ns P rk Wth Ave Mac Palk - 5"�N, �. AV*N s Sft Awl N , , � Aw N ,v, Atli xee ear<�,.,. 1 Aare N � •, �� ��' � im ,� �57Th Ave tr ;. ,.•. � 'i` Y� �. � " � A f ..,... i Park SANtAaM1 N. _ ,. Ave# k h 1 flrr.kol , VAM"low th iw N "JI-j, .. tea - COMPARABLE SALES MAP COMPARABLE #1 3918 France PI COMPARABLE #2 5130 Winchester La COMPARABLE #3 5206 Eleanor La Report Name: Saleslnformation Printed:4/27/2010 City of Brooklyn Center Sales Information Report Page: 1 03-118-21-12-0079-3707 61st Ave N Sale Date Sale Mee Cash Equiv Sale Tvoe Sale Ratio Comments A,]x Ver 0,L](r V-L Yff 01/08/2009 $67,000 $0 01-Warranty Deed 15-Forced Sale 2009 1 0 0 03/13/2006 $210,000 $0 01-Warranty Deed 00-Good Sale 2007 1 0 0 02/01/2004 $185,000 $0 11-Other 99-Conversion-X Sales 2005 1 0 0 08/01/2001 $146,000 $0 11-Other 00-Good Sale 2005 1 0 0 i I Report Name: Permit List City of Brooklyn Center Printed: 04/08/2010 Page: 1 Permit List . Permit List for: 3707 61st Ave N Permit# 11U.i1 Value Permit Tyne Sub Tyne Work Type Description Cancelled Issued Date Final Date Dead Date Expiration Date Refund Date BC038370 $353 Mechanical Dryer Replace install dryer:6'of new 06/16/2009 03/02/2010 copper,ball valve,insulate BCO20920 $341 Mechanical Gas Piping Replace INSTALL STOVE 10/18/2002 02/06/2003 W/1/2"COPPER BC006832 $3,000 Mechanical Furnace Replace FURNACE&A/C 08/27/1996 01/15/1997 BC005799 $1,000 Mechanical Furnace Undefined SPACE HEATER 12/13/1995 01/02/1996 BC005241 $4,600 Building Residential Single Famil Repair TEAR-OFF,REROOF 07/28/1995 09/27/1995 BC005109 $9,000 Building Residential Single Famil Addition SUNROOM/PORCH 06/29/1995 05/20/1996 Permit Count: 6 I I I i CITY OF BROOKLYN CENTER LICENSE INFORMATION PID: 0311821120079 License Information: M License Number: 01004469 License Status: A 12 License Type: Rental 12 License Location: Brooklyn Center Business Applicant: Company: Douglas Allen Wahl Business Address: 1845 Stinson Parkway NE, Business City: Minneapolis Business State: MN Business Zip: 55418 Telephone: 6127828888 Assigned Dates: 13 Applied: 2/25/2009 Inspected: 3/9/2009 Council: 4/13/2009 13 Issued: 4/14/2009 Expiration: 2/28/2011 I 2010 INCOME APPROACH ANALYSIS Single Family Residential Rental YEAR OF CONSTRUCTION: 1955 PID: 03-118-21-12-0079 Owner(s): Cel Monton LLC 3707 61st Ave N Brooklyn Center, MN ACTUAL MARKET . Unit Type #Bedrooms RENT RENT 0 STUDIOS $0 $0 0 1 BEDROOMS $0 $0 1 2 BEDROOMS $1,100 $1,100 0 3 BEDROOMS $0 $0 0 4 BEDROOMS $0 $0 1 Garages $0 $35 Garage stalls included in rent MONTHLY ADJ. RENT $1,135 TOTAL ANNUAL ADJ. RENT $13,620 GROSS BUILDING AREA 1,296 LAND AREA 9,525 CAPITALIZATION PROCESS MARKET POTENTIAL GROSS RENT(PGI) $13,620 LESS:VACANCY&COLLECTION LOSS % OF PGI -2.00% ($272) OTHER MISC INCOME 1.00% $136 (Application Fees &Late Fees) EFFECTIVE GROSS INCOME $13,484 LESS: ANNUAL EXPENSES: % OF PGI Insurance -4.50% ($613) Rental License 3.00% ($409) Maintenance &Cleaning -5.00% ($681) Reserves for Repairs -2.00% ($272) TOTAL ALLOWANCE -14.50% ($1,703) ANNUAL NET INCOME $9,806 RETURN ON &OF PERSONAL PROPERTY $1,500 HOUSEHOLD @ ($180) NET INCOME TO REAL PROPERTY $9,626 CAPITALIZATION: CAPIITALIZATION RATE 6.00% EFFECTIVE TAX RATE AVERAGE 1.66% * OVERALL CAP RATE 7.66% 7.66% 2010 CAPITALIZED VALUE OF PROPERTY $125,671 •For Ad Valorum Tax Calculations, property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation. Monthly rent does not include utilities. Tenants are responsible for paying water, gas, electric, garbage, maintaining lawn and snow removal. Apr �)S 2010 1 : 08PM HP LRSERJET FAX p• 2 CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19, 2010 through April 9, 2010 You must return this application by April 9. 2010. to be placed on the Agenda for the Local Board of Appeal and Equallzatlon held April 19, 2010 at 7:00 P.M. Name(s) 7�'rZlG/ Daytime Contact Number; Property Address 's' 6/1 Property Identification Number ,-�O C 9r) Assessor's 2010 Estimated Market Value / Is your property residential, commercial or multi-family? IXWA — / t' II-tt if you are appealing a commercial, multi-family or residentiel rental property you must include income and expense data for calendar year 2009 with your application. What is the reason you are appealing your 2010 assessment? G�G� �' I'7.x.•1� 'C1r N Ll UrC� Li [� I ��'� C.f.'+1.,.+� tt✓!�i e. � a�,'i'ii••f✓ �f'//K 1�7 4� n.�. T When did you purchase your home? Date of Purchase Purchase Price Did you purchase your property from a bank, as a foreclosure or short sale? rG Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. Nv Have you had a recent appraisal for refinancing, Durchas e Qr a market analysis by a real estate agent completed within the last year? If so, what was the determination of value? '45, Cc. l r«.� k r�l c r�Gd•�,� ••�7�- •C /t C/�- What do you think the market value of your property should be? 1G— Please provide any documentation supporting your claim of overvaluation or erroneous classification with this application. in order fo appeal your valuation an appointment to view the property will be required. Apr 09 2010 1 : 08PM HP LASERJET FAX P• 3 Comparative dgA day,April B,2010 Summery of Comparable Listings This page summarizes the comparable listings contained In this market analysis, Aotive Listings I Address Price Us 5th TFSF ' $/8q Built Style Ust Date DOM CDOM 9= 5354 70Th Circle 544,900 2 1 1890 $27 1979 TWNSS 02/10/2010 58 482 5309 71 St Circle $120,000 2 2 1454 $189 1070 TWNSS 03202010 11 13 Averages,. $87,400 2.0 1.5 1472 Zka 1979 35 253 Pending Listings Address PNes Us 8th TFSF $13q Built Style Off Market DOM CDOM S■ 6352 72Nd Circle 1650,500 2 1 1021 $40 7983 TWNSS 04/0212010 B 8 Averages: S60,11100 2.0 1.0 1021 $49 1003 8 8 Sold Listings Address Price Bds Nth TFSF &3q Built Style Sold Data DOM CDOM S= 5350 71St Circle $40,000 2 2 1364 $29 1980 TWNSS 07/24/2008 33 153 5410 70Th Circle $661000 2 1 526 5105 1979 TWNSS 03/24/2010 9 9 5346 70Th Circle $47,500 2 1 1164 841 7978 TWNSS 01/28/2010 35 36 5328 72Nd Circle $49,900 2 1 904 055 19M TWNSS 10/222009 6 442 5303 72Nd Circle $48,000 2 1 920 550 1984 TWNSS D4/202009 62 52 5415 N 718t Circle $50,000 2 2 1581 $32 Will TWNSS 08!082009 6 5 5319 70Th Circle $64,000 2 2 1450 $39 1079 TWNSS i0H612000 9 9 5403 71St Circle $88,000 2 2 1684 $41 1979 TWNSS 07117120p9 14 266 5322 72Nd Circle 581,500 2 1 1004 $51 1983 TWNSS 03/252010 196 349 6342 70Th Circle $82,045 3 2 1622 $51 1970 TWNSS 0512512000 112 112 Averages: 85'"s 2.1 1,5 1220 $60 1961 47 143 Median of Comparable Listings: $",800 Average of Comparable Listings: $50,058 On Average,the'Sold'status comparable listings sold in 47.30 days for$66,685 LA Apr 08 2010 1 : 0813M HP LRSERJET FAX p. 4 CEL Monton, LLC Profit & Loss 5325 70TH CIR Jan-Dsa D9 Ordinary income/Expense Income 4100-Rental Inewo 10,698.00 4200-Fee Income 4240•Application Face 36.00 Total 4200•Fee Income 35.00 Total Income 10,733.00 Expense 3100•Insurance 6110-Property Insurance 100.86 Total 6100•Insurance 100.86 8200•Interest Expense 6220-Loan Interest 4,649.70 Total 620D•Interest Expense 4,949.70 3300•Repairs 3310•Building Repairs 3,095.00 $300-Repairs-Dever 4,121.59 Total 8300•Repairs 7,216.59 6400•Utilltlsa 6410•Gas 434.77 6420•water 312,41 6430 Electric 94.38 6400 UtlNtles-Other 107,02 Total 6400•Utilities 952.68 6490•Condo Assoc Fee 3,266.B8 6000•MATERIALS 2,662.26 6200•Taxes 6230- Property Taxes 101.86 Total 6200-Taus 1,661.56 7040•Llcensu and Permits 4pQ.OQ 7090-Property Maintenance 631.50 7091 •Cleaning Expense 600.00 Total Expanse 22,443.60 Net Ordinary Income -11,710.80 Net Income -11,710.80 Page 1 Review Of 532570 Ih Cir PID#28 119 2143 0090 For Cel Mouton LLC 2010 Board of Appeal and Equalization 'b -f y, @ .... ........ ............. Pm-, I 9 x \ �z F. w � d ..........f"', IWO I;. Im City of Brooklyn Center A Millennium Community T0: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID# 28-119-21-43-0090 Cel Monton LLC 5325 70" Cir. Brooklyn Center, MN 55429 A representative of Edlich Realty contacted the 2010 Local Board of Appeal and Equalization regarding the 2010 estimated market value of the property located at 5325 70th Cir. by telephone on April 8, 2010. This property has a 2010 estimated market value of$120,900. The board it r n interior review with the Assessors a d di ected Mr. Edlich to schedule an appointment for a office. A review of the property was scheduled on April 22, 2010 with an appraiser from the Assessor's office. The subject property is a 1,082 sq ft split entry townhome with a full rear walkout and an insulated tuck under garage in good condition.The subject is located on a creek in the Mallard Creek townhome complex. The main level includes a living, dining, kitchen,three bedrooms and a deluxe walk through bathroom with a double sink. The basement level has full daylight, ceramic tile at the lower landing, 6 panel doors, and sheetrock walls. The basement is finished as a family room with a half wall brick fireplace and new patio door to the yard. There are no legal bedrooms in the lower level. Recent updates to this property include new trim, some interior doors, new ceramic tile flooring and fixtures in the basement bath, two new patio doors, new hard wood floor in the kitchen, new ceramic tile surround in the main bath, as well as a new vanity top. This property had a previous permit for a mold abatement, which has since been finalized. After review of the property, no changes were made to physical characteristics. As requested, Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was provided to the council in the initial appeal packet from the owner. Three actual documents were provided to the Assessor's office with actual rent figures of$1,300 per month and a total 2009 annual income of$10,698. The average market rent of$1,200 is typical for a three bedroom home in Brooklyn Center, so $1,200 was used in the market income approach as market rent. Additional comments in the documentation provided indicated rents were decreasing as owners renew yearly leases,which would affirm the usage of market rent.,The subject property was purchased on September 8, 2008, and the rental license was not issued until March 12, 2009. It is assumed that there could be a new lease amount, but the documentation indicates that the $1,300 is currently still in place. In discussion with the Assessor, Mr. Wahl indicated that the tenants were responsible for all utilities in their rental properties. However in this townhome complex, the water bill appears 6301 Shingle Creek Parkway Recreation and Community Center Phone & TDD Number Brooklyn Center, MN 55430-2199 (763) 569-3400 City Hall & TDD Number(763) 569-3300 FAX(763) 569-3434 FAX(763) 569-3494 www.cityolbrooklyncenter.org to be handled by the owner, which is typically included in townhome association dues. In the Mallard Creek townhome association the exterior maintenance, insurance for the structure shell, trash, yard maintenance and snow removal are included in the association fees, which is an expense of the owner. Due to the lack of itemization of repair expenses listed, and an extremely high amount of expense for utilities, including some the tenant is responsible for, the income in calculating he income o e documentation was reviewed but not felt reliable for use g approach. As the majority of townhome properties in Brooklyn Center are owner occupied, more weight is given to the sales comparable approach rather than the income approach. A market derived income approach of a three bedroom townhome property has been included with this report. This income approach deducts a typical association fee in expenses to cover the typical utilities that would be covered by an owner. Mr. Edlich provided a comparative market analysis listing of comparable townhomes in Brooklyn Center with the initial appeal application for the subject property. A copy of this list was included with this report. This analysis included active listings, pending listings and sold listings. The comparative analysis provided no open market sales transactions. All sales, pending sales, and active listings were rejected non-open market sales, or currently listed on the Hennepin County Sheriffs foreclosure list. There is only one property that is considered open market, but is currently listed for$129,900 and has only been on the market for thirteen days. The enclosed sales comparable detail completed by the Assessor's office compares the property to three similar townhome properties. Comparable number one is located within the Mallard Creek Townhome complex, is exactly the same age and size, and is considered the most comparable. The enclosed sales comparable detail indicates a range of value for the subject property from $120,546 to $135,320. The Assessor's recommendation is to sustain the 2010 estimated market value of$120,900 for taxes payable in 2011. Respectfully submitted, Nancy Wo' k, SAMA City Assessor I SUBJECT PROPERTY 5325 70 Cir Cel Monton LLC PID# 28-119-21-43-0090 d $ F i t rr' i Land Characteristics Land Area 2,883 sq. ft. Building Characteristics Style: Split Entry 1,082 sq. ft. Main Level Room Count: 6 / 3/ 1 Deluxe Bath Below Grade Room Count: 1 / 0 Bd / 1/2 Bath Garage: 2 Car Tuck Under Fireplace: 1 Porches/Decks/Misc. : Deck / Patio / Walkout Central Air Conditioning: CAC Report Name: Images City of Brooklyn Center Printed: 4/28/2010 PID:'28-119-21-43-0090 Page: 1 Property Images F � e , i N I , L G E. Report Name: Images City of Brooklyn Center Printed: 4/28/2010 PID: 28-119-21-43-0090 Page: 2. Property Images x3 I a� F. ` I t W I 1 itv. .... ;...... Report Name: Taxpay"Inquiry City of Brooklyn Center Printed:41 S`20101 I'age: -1 Taxpayer Inquiry DiJUJAY PIQ Humag Nbr Stmet Namg e 25-119-21_43-0090 5325 70di 0=ir 55429 Last NaLue Eirst Nam Al p 1 er �1 Cooper Patricia !1. Y Y N FrontlAge Left lisle Rear.Sid Right hide EL Width .L DjUth rrUllerty Ar-ta Agrgag g M Exe_rnnt Code SChilgi 12ist Watershed Yr Built 31 89 30 98 0 93 24883 0.010 R3 0279 14 1979 20101 1 1 25,000 95,900 0 120,900 1,209 N N N Y 0 N 2009 1 1 30,000 95,100 0 125,100 1,251 N N N Y 0 Y 2008 1 1 301,01010 85,7010 0 115,7010 1,157 N N N Y 0 Y "t. 017 Block: 0011 Addition: The Ponds Plat Two I W �IIVV ii ,,;• i GIS -Property 1 Brooklyn r ►l ► ;';� r - 1 f 1 taxt Today's date.04f13f2010 1 �e file Retease: 147,041 1A-115 1 4 rs +t d user: KCASTO .. .M, � (M essina-Karen C�sto(PE)S It dt 11 Parcel Status:ACTIVE E'" N CAMA Inquiry po1il err N 1w 11" , li s Ft „"�T ' " ? ' Aj4oQif+�00* � v All std Rt ' TGB 1 R3 �tlfz�rraa�t r 'H City Tars; , Lad Appi4 d Year . ' LW Update has,, t X11] 1104 SAf t $10 ' i tip"+° h' lrw 9 a�l+tcr�co F`k j+ j 4 C 12 64 f'1ier r 11 C oat"thAdukN J, us F i? 1�. $3. B t: $13, 45 i3ar. NP �*O :,`Resider , .. . 71 t ,; I City of Brooklyn Center PID: 29-11941-43-0090 Property Type; 'Y-Townhouse Value Info; Residential Field Card Property Address:5328 78th Cir Zoning: R3 Year/Version 20101 1 Printed. 412312010 Lot f Stock: 0171001 Dwelling Type: Townhome land: 25,400 Assessment Year: 2010 Addition: The Ponds Plat Two Owner($)* Patricia A Cooper Bldg: .95,900 Version i District: Total; 120,900 Neighborhood: 0191 �rlor i r ltd Ott Ftoa 2rc1 Fineratarta; Model Garage#1 Area(SgFt): 1,104 Kitchn Rig,, Standard Interior: Interior: Res.Cond. Good Placement: Tuck Under Type: Regular Interior° Sheetrock Trim: Trim Dwell Type: Townhome #of Cars: 2 Finished 1%): 80 Trim: Painted Floor: Floor. Int.layout: Standard FloorRrea: 480 Quality, Very Good Floor, Carpet Avg Clear,Height: Avg,Clear. Height: Adjacent Property; Equal Condition: Excellent #of Fireplaces: 1 Avg Clear,Height: #of Fireplaces: #of Fireplaces: Manual Assess: N Exterior Walls: Wood Fplc.Quality: Very Goad #of Fireplaces: Fptc Qualty: Fplc,Quality: View., Equal Avg,Clear,.Height: Fptc,Ouality: Actual Age: 1979 Ems.Svc: Standard Arch.lAppeat Average Garage 02 Htg. Formed air,gas fared Effective Age: 1980 Walkout: Standard Walkout Quality- Bt17 Placement; Walkout Quality: Excellent 'fat Baths t#ffQtiailty) 20d Baths(*Qual y) 3rd Baths(*Quality) Renovated Age: of Cars: Spa: t Spa: / Spa: / Shape: Square Floor Area DIx: 1 1 Very Good Dix; # DIX: t Functional%: Full: 1 Fula 1 Full 1 Style; Split Entry/Foyer Exterior Watts: 314: / 314: J 314: 1 Economic 1 d d i Construction r Wood Frame Basement Botha(fl tuat) 1/2: 112; 112: porch S 1 Building Areas': Exterior Walls Wood Glazed Area D� / lot Rom n Coon# 2nd Room Count 3rd Room Count Unfin. 1st GSA: Quality: Unfin.2nd GBA: Full. 1 Bedrooms: 3 Bedrooms: Bedrooms: Exterior Trim Brick Screened Area: 314, ! Baths: 1 Baths: Baths: Unfin.3rd GBA: Quality: 112: 1 ! Very Good Family: I Other: Other: Unfin Total GBA: Roof Type: Gable Open Area: living: 1 Total Rooms; Total Rooms: Quality: Dining, 1 1 st Floor Area: 1,082 Roof Cover: Shingles teen# count Kitchen: 1 2nd Floor Area: Bedrooms: Other', 3rd Floor Atea: Patio Baths: 1 Total Room: 6 Total GSA: 1,082 Window Type 1. Gliders patio I Area. 176 Family: 1 Quality: Average Kitchen Flat Value Window Type 2: Casement Patio 2 Area: Other: Value, Air Conditioning central Quality: Total Rooms: t Desc: Total Rooms Dormer Lengttt Deck s.Bedroo m 3 Baths: 2 n� #t gym: G Dormer Quality Deck 1 Area, 80 Family: 1 Date, 081200tt Appraiser . 21 Appraiser I Quality: Average 09i i ID A i D: living: 1 Deck 2 Area: Prig: $40,000 Appraisal Date: 0412282010 Dinin 1 Patio Doors: 2 e Quality: Code: 15 Reason Board of Review Appraisal Date. Kitchen: 1 Desc: Forced Sale Resufi: Interior Other. 0 Last Interior Inspection: 04122/2014 Reason Total: 7 Pool Pool 1 Area° Resent: Quality: left Tag Yes f No Pool 2 Area,, Quality: pornments NEWER CSMT WINDS it PATIO DRS, OTHER WINDS ORIG&OR1G EXT, INSULATED GAR, NEW INT'PRIM.EAT IN DITCH W/ORIG Amenities CABS&NEW HWF,WALKTHRU MAIN BATH W/DBL SINK,CT FIR&NEWER CT SUR,BSMT FIN SHRK,SPRAYED CE►L,CT LOWER LANDING,6 PANEL DOORS,UPDATED BSMT BATH WiNEWER CT FLR 8 FIXTURES,VANITY, UNFINISHED LAUN. VG GENL COND. RENTAL. City of Brooklyn Center PIM 28419-21-43-0090 Property Type: Y-Townhouse 'Value tnfo: Residential Field Card Property Address:6328 70th Cir Zoning: R3 YeariVersion: 20101 1 Printed 412312010 Lot 7 Block: 017/001 gelling type. Townhome Land, 25,000 Assessment Year: 2010 Addition: The Ponds Plat Two Owner(s): Patricia A Cooper Bldg: 95;900 Version 1 District; Total: 120.900 Neighborhood:. 0191 Land - n , �." �.< � Attributes Influence* Building Dimensions Land Type: Townhome Lot Frontage: 31 Park: Gas Length Width Sq Ft Land Quality;. A015-Land Leff Side, 89 Park Quality: Paved Street 24 42 1006 Area Rating Average Rear aside; 30 On Lake. Sever Available 2 12 24 Site hating: Good Right Side: 98 Lake Quality, Water Available 2 11 22 Zoning R3 Effective Wkfth On River; 0 0 0 Contamination; Effective Depth 93 River Qoalltyy: 0 0 0 Flood Plain Map Ref; Effective Water. Landscape Quality: Average 0 0 0 PUD Ref: Property Area(SgFt): 2,883 0 0 0 Allowable Uni#s Acreage: Not Buildablw N Excess Land(SgFt),, :Adjacent Owner: N Usable SgFt: Flood Plain Flat Desc: Zoning Variance: N Flat Amount: Manuel Land: N I I R .. Fu�ldeck V 24' 24' w/tu gar 23' Basement �. I 1104 sf 42' First Floor 46' 21 111182 sf . 0 Garage 20' 480 sf 10, 12' 4' 24` Report Name: City of Brooklyn Center Printed:4/28/2010 Sales Comps Details Sales Comps Details Page: 1 Item Subject Comol Comn2 Comn3 , a h PID 2811921430090 2811921430111 3611921330079 0111821310118 Address 5325 70th Cir 7001 Unity Ave N 1329 63rd La N 5576 Aldrich Dr N District Sale Price $40,000 $120,000 $94,500 $122,000 Sale Date 09/08/2008 08/28/2009 09/28/2009 06/22/2009 Cash Equivalent Price Per Sq.Ft. $36.97 $110.91 $82.89 $120.55 Dwelling Type Townhome Townhome Townhome Townhome Style Split Entry/Foyer Split Entry/Foyer One Level/Rambler Split Level Property Area 2,883 3,492 2,263 1,404 Actual Age 1979 1979 1983 1985 Effective Age 1980 1980 1984 1985 Quality Class B07 B07 B07 B07 1st Floor Area 1,082 1,082 1,140 1,012 Total GBA 1,082 1,082 1,140 1,012 Finished Area 1,634 1,634 1,140 1,399 Basement Area 1,104 1,104 968 Basement Finished(%) 50% 50% 40% Total Bedrooms 3 3 2 2 Total Bathrooms 2 2 1 2 Garage 1 Floor Area 480 480 625 418 Garage 1#of Cars 2 2 2 2 Garage 1 Placement Tuck Under Tuck Under Detached Tuck Under Total#of Cars 2 2 2 2 Walkout Type Standard Walkout Standard Walkout Air Conditioning Central Central Central Central Pool Area-Total Fireplaces 1 1 Deck Area-Total 80 192 99 Porches River Lake Influences Highway/Freeway Sq.Ft.Adj $44,417 ($2,656) ($25) Add Bsmt Adj $9,991 $9,991 $989 Ded Unfin GBA Adj Site Adj $25,000 Garage Adj $6,516 ($1,798) ($180) Walkout Adj $5,883 $5,883 $5,883 Patio Adj $119 $119 Bath Adj $10,860 $452 $3,922 $630 Air Conditioning Adj $1,958 ($151) Porch Adj Fireplace Adj $2,715 $905 $2,715 $2,715 Deck Adj $579 ($811) $579 ($158) Fin Bsmt Adj $11,989 $11,989 $3,347 Misc.Adj $905 Total Adj $120,932 $546 $30,474 $13,320 Market Adj Value $120,546 $124,974 $135,320 tkooAdato _w .. PWk + „ € .% pwk i ► ► * 1 •. Tilt Feb fit+a�wr A'ti k Aeoi A, ,1" , ' '� artAwrN � �t�Axr► a a PM4 18 Amt p awok s m X AI g. ` tM f #^ a iT f{ '•3ElAN,tow *M - � l �i- 5ft A* .9 40*agar x COMPARABLE SALES MAC COMPARABLE#1 7001 Unity Ave N COMPARABLE#2 1329 63`d La COMPARABLE#3 5576 Aldrich Or N ftepon Natne: Salesint srmation City of Brooklyn. Center Printed:4!29,,20 10 Sales Information Report Page: 1 28-119-2143-0090-5325 70th Cir Sale:Date Sale Pric Cash Elluiv Sale Rati Comments YE ver O N r C 09/08/2008 $40,000 $0 01-warranty teed 15-Forced Sale 2009 1 1) 0 01126/2006 $190,1 $0 01.Warranty Deed 00-Good Sale 2006 1 0 0 07/01/2004 S165,0(X) $0 01-Warranty Deed CIO-Good Sale PTS =4950 2005 l 4 t) 04/01/2003 $130,000 $0 11-tither 00.Good Sate PTS=ROO 2005 1 0 t) 10/01/1996 S82,M) $0 11.Other 00-Good Sale 2005 1 0 0 04101/1995 568,000 $0 11-Other 00-Good Sale 2005 l 0 f) ONO 1:"1979 $58,565 $0 11»Other 99-conversiowx conversion-x sales 1'Al2'1"]AL C ONSTRUC"TJON'' 2()()5 1 tt 0 Report Natue: remit List 11rinted: 04!0`&2010 City Brooklyn i�rakl �n +enter Permit L St Page: I Permit Litt furs 5325' 0(h Cir Permit1 L"YAJU ftrmit'o Sub IVat Work Iv Dgwlipfla t LliggglIcd IssutJ Date final.Dat1: ad Dat5 L%giratiuu Dat Refulla Pal I3(.`037061 $3,0W Building ltesidenijul`;rngk Fanni Iteplaoc MOI.1)AI3A"1I:#" E*NI C AND CERTIFICATE,(:A (3('C°U)PANC Y BC03431.1 $11,465 Building Towntui ncs R placc TEAR OFF A I) 0€i0b,'20()7 (424I.2(W RER OF (3('(131219 $9,09) Building 'tmnholn" Itepiauc I`I.R OFF AND (lWv8,'20,(ti I I1021200(N RI"RC .1F BC03I218 *9,600 Building `O'Anhoffle Replace FEAR OFF AND 0$r(a8f2( )6 I I/022006 RI,ROO1 I3co12001 $1,500 Building Townhows Rclmlacc TEAROFF/ltFR(k)F 03A)3lIfM 04f2tu'199(1 13C.W5868 $500 Plumbing 1lesudcntial Rcpl=c 1ir'i"tFER I I)-A'rrR 0 1 Y I I/I 99b 03 07/19 Permit Count: ti CITY OF BROOKLYN CENTER LICENSE INFORMATION P11) 28 11921430090 License Information: License Number: 01004444 License Status: A License Type: Rental License Location: Brooklyn Center Business Applicant: Company Douglas Allen Wahl Business Address: 1845 Stinson Parkway PIE, Business City: Minneapolis Business State: MN Business Zip 55418 Telephone: 6122828888 Assigned Dates; Applied: 2/2/2008 Inspected: 2/23/2{}09 council: 3/9/2009 Issued: 3/12/2009 Expiration: 2/28/2011 2010 INCOME APPROACH ANALYSIS Single Family Residential Rental YEAR OF CONSTRUCTION: 1979 PICT: 28-119-21-43-0090 090 Owner(s) :Cel Monton LLC 5329 70th Cir N Brooklyn Center, MN ACTUAL MARKET Unit Type #Bedrooms RENT RENT 0 STUDIOS $0 $0 0 1 BEDROOMS $0 $0 0 2 BEDROOMS $0 $0 1 3 BEDROOMS $1;300 $1,200 0 4 BEDROOMS $0 $0 2 Garages So S70 Garage stalls included in rent MONTHLY ADD. RENT $1:270 TOTAL ANNUAL ADJ. RENT $15,240 GROSS BUILDING AREA 1,082 LAND AREA 2,883+townhome common area CAPITALIZATION PROCESS MARKET POTENTIAL GROSS RENT(PGQ $15,240 LESS;VACANCY &COLLECTION LOSS %OF PGI .2.00% (5305 OTHER MISC INCOME $152 (Application Fees&Late Fees) EFFECTIVE GROSS INCOME $15,088 LESS;:ANNUAL EXPENSES; %OF PGI Insurance -4.50% ($688 Association Dues 2.001/6 ($305) Rental License -3.00% ($457 Maintenance&Cleaning -3.00% (5457) Reserves for Repairs -2.00% $3051 TOTAL ALLOWANCE -14.50% ($1,905) ANNUAL NET INCOME $10,973 RETURN ON &OF PERSONAL PROPERTY $1,500 HOUSEHOLD @ ($1801 NET INCOME TO REAL.PROPERTY $10,793 CAPITALIZATION: CAPITTALZZATION RATE 6;00 EFFECTIVE TAX RATE AVERAGE 1,66% OVERALL CAP RATE 7,68% 7.66% 2010 CAPITALIZED VALUE OF PROPERTY $140,898 For Ad Valorum Tax Calculations, property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation: Monthly rent joes not include utilities. Tenants are responsible for paying water, gas, electric, garbage, maintaining lawn and snow removal. -Ipr '09 2010 1 08P HP LRSERJET FAX P• 3 Comparative Market Analysis Iriday,Aprll 8,2010 Summary of Comparable Listings This page summarizes the comparable listings cvntalned in this market analysis. ! Aotive Listings Address Pdce Bds Bth TFSF $/Sq Built Style Wt Data DOM CDOM 8= � 5354 70Th Circle�tf {vr��losvr� rs i $44,800 2 1 1690 $27 1279 TWN55 0211012010 68 492 5309 71St Circle $128,800 2 2 1454 $89 1072 TWN85 0312OV2010 11 13 Avsragesi $87,400 2.0 1.6 1879 $se 1979 . 38 253 Pending Listings Address Pries Bds Sth TF8F $/Sq Built style tiff Market DOM ODOM S■ 6362 72Nd Circle tfC j��tof, l $50,500 2 1 1021 $48 1983 TWNSS 04/02/2010 8 8 Averages: $60,600 2.0 1,0 1021 $49 1983 8 8 Sold Listings Address Pric Bds Bth TF8F Sl$q Bunt Styis Solo Date DOM CDOM 8_ 5350 71 St Clyds 2.1 $40,000 2 2 1364 $29 1980 TWNSS 07/24/2009 33 153 5419 70Th'Cirrls 3 $155,000 2 1 526 $108 1979 TWNSS 03124/2010 8 9 1 5348 70Th Circle � $47,500 2 1 1164 ' $41 1979 TWNSS 01/20/2010 35 36 5328 72Nd Circle(S $49,900 2 1 904 355 1985 TWN$$ 10/22/2008 8 442 5303 72Nd Circle 15 $0,000 2 1 920 S50 1984 7WN35 0412012008 52 52 5415 N 715t Circle S $50,000 2 2 1581 $32 1978 TWNSS 08/28/2008 6 5 5319 70Th Circle $64,900 2 2 1480 $38 1279 TWNSS 10/16/2009 9 9 5403 71St Circle, 588,000 2 2 1664 1$41 1679 - TWNSS 071172009 14 266 5322 72Nd Circle fAeKn $61,500 2 1 1004 $81 1883 TWNSS 03126/2010 196 349 6342 70Th Circle IJ i st $82,045 3 2 1622 $51 1879 TWNSS 08126=09 112 112 Averages; $55,U5 2,1 1,5 1120 $60 1961 47 143 Median of Comparable Listings: $60,600 — Average of Comparable Listings: $00,083 OnAvera®e,the'Sold'status comparable listings sold in 47.30 days for$M,1585 Hpr U5 eUlU 1 ! UUF'M HP LHbLKJEI FHX P• 5 c CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL. AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19, 2010 through April 9, 2010 You must return this application by April 9, 2010, to be placed on the Agenda folr the Local Board of Appeal and Equalization held April 19, 2010 at 7:00 P.M. ` Name(s) Daytime Contact Number: &a A- 7Z--; Property Address Property Identification Number Assessor's 2010 Estimated Market Value /'1&5� i Is your property residential, commercial or multi-family? — 1 If you are appealing a commercial, multi-family or residential rental property you must include Income nd expense data for calendar year 2009 with your application. What is the reason you are appealing your 2010 assessment? / r a.c. S rf >� Lti•� GI o6lZ"w en a r'G+l !4g A .,tell C4•JJ�W, -/ l Ilk ;� ®r./,' V.� —"� e 49 Pe re' it d+9 e r J l-y Ale- e 'O v- 1# When did you purchase your home? Date of Purch2se -1-C*n15' Purchase Price CW_ Did you purchase your property from a bank, as a foreclosure or short sale? Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estima ed cost. Have you had a recent appraisal for refinancing, purchase or a market analysis by a r�al estate agent completed within the last year? Ye j,,Ior No If so, what was the determination of value? 1 A. Aen What do you think the market value of your property should be? Please provide any documentation supporting your claim of overvaluation or erroneouls classification with this application. In order to appeel Your valuation an appointmeht to view the property will be required. Apr 09 2010 1 : 08PM HP LRSERJET FRX P• 6 Comparative Analysis ,Hday,April 9,2010 Summary of Comparable Listings I' This page summarises the comparable listings contained In this market analysis. i Active Listings Address Price Us em TFSF $Mq Built LMt Data DOM CDOM 9= i 5354 70Th Circle 1144,9D0 2 1 1690 627 1979 TWNSS 02110122010 58 492 6300 71St Cirds 9129,900 2 2 1464 $99 1979 TWNSS 03MM010 11 13 Averages: $17,400 2.0 1.6 1572 1979 ! 38 253 Pending Listings Address Pries Rds Sth TFSF $18q Built style Off Market DOM CDOM S■ 5362 72Nd Circle $5015W 2 1 1021 649 1983 TWNSS 04102/2010 8 a Avsrsges: $80,800 2A 1.0 1021 $49 1903 a 8 Sold Listings Address Price Bde 8th TFSF V5q Built Style gold Dots DOM CDOM S■ 5350 716t Circle $40,000 2 2 1364 $29 1980 TWNSS 07/2412009 33 153 5418 70Th Girds $56,000 2 1 525 $108 1979 TWNSS 03/24/2010 9 9 5348 70Th Circle $47,500 2 1 1154 $41 1976 TWNSS D1/18R010 i 36 35 5328 72Nd Circle $491900 2 1 904 $55 19tla TWNSS 1022/2008 a 442 5305 72Nd Circle $46,000 2 1 920 650 1994 7WN8$ 0420/2009 i 52 52 5413 N 71St Circle $80,000 2 2 1681 $32 1970 TWNSS 06/06/2009 ! 6 5 5319 70Th Circle $64,900 2 2 1460 $38 1979 TWNSS 10/16/2008 9 9 5403 71St Circle $68,000 2 2 1864 $41 1079 TWNSS 07117120D9 I 14 265 5322 72Nd Circle $81,500 2 1 1004 $61 1993 TWNSS 03/282010 I 196 349 5342 70Th Circle $62,045 3 2 1622 651 1979 TWNSS 06/282009 112 112 Average*; $88,588 2.1 1.5 1110 $90 1991 47 143 i Median of omparable Liatatgs: $50,500 Average of Comparable Listings: 160,00! On Average,the'Sold'status comparable listings sold In 47.30 day for$59,585 i Hpr -u8 P-U l U 1 : Util'M HV LH6LRJL I F H?S P. ,/ 2 CEL Monton, LLC Profit & Loss 5418070TH CIR Jan-Dec 09 Ordinary IncomNExpense Income 4100-Rental Income 11,165.00 Total Income 11,165.00 Expense 6100-Insurance 6110-Property Insurance 100.85 Total$100•Insurance 100.63 5200,Interest Expense 6220•Loan Interest 5,080.00 Total$200•Interest Expense 5,080.0D 5300-Repair* 682.00 5400-UtIddes 6420 •1Nater 273.78 5400-1.1101 kin-Other 88.95 Total 6400-Utilities 364.74 $490-Condo Assoc Fee 1,635.85 8200-Taxes $230-Property Taxes 1.7D4.48 Total 6200-Taxes 1,7D4.48 7010•Property Msintenanas 56,76 Total Expense 9,836:27 Net Ordinary Income 1,528.73 Not Income 1,526,73 i i i I Page 1 i Review Of 541870 Ih Cir PID#28 119 2143 0108 For Cel Mouton LLC 2010 Board of Appeal and Equalization j' 4 I r • ;4e yoi" � City of Brooklyn Center A Millennium Community T0: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID# 28-119-21-43-0108 Cel Monton LLC 5418 70th Cir. Brooklyn Center, MN 55429 r f Appeal and A representative of Edlich Realty contacted the 2010 Local Board o pp Equalization q regarding the 2010 estimated market value of the property located at 5418 701h Cir. by telephone on April 8, 2010. This property has a 2010 estimated market value of$116,300. The board directed Mr. Edlich to schedule an appointment for an interior review with the Assessor's office. A review of the property was scheduled on April 22, 2010 with an appraiser from the Assessor's office. The subject property is a 924 sq ft split entry town home with a full back walkout and an insulated tuck under garage in average condition. The subject is located on a pond in the Mallard Creek townhome complex. The main level includes a living, dining, kitchen, two bedrooms and a full bath. The basement level has a full back walkout,full daylight, sheetrock walls, and sprayed ceiling,as well as a half wall stone gas fireplace. The basement has been partitioned into two rooms with an interior French door, but there is no legal basement bedroom in this unit. Recent updates to this property include new ceramic tile floor, vanity and vinyl tub surround in main bath. After review of the property, an adjustment was made to lower the quality of the basement bathroom from very good to average. No other changes were made to physical characteristics on this home. The previous appraiser notes indicated an elevator had been present at this property at one time. All previous handicap adaptations have been removed from the property. As requested, Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was provided to the council in the initial appeal packet from the owner. The actual rent was provided to the Assessor's office as $1,150 per month and a total 2009 annual income of$11,185. The average market rent of$1,000 is typical for a two bedroom townhome in Brooklyn Center, so $1,000 was used in the market income approach as market rent. Additional comments in the documentation provided indicated that rents were decreasing as owners renew yearly leases, which would affirm the usage of market rent. The subject property was purchased on April 15, 2008, and the rental license was not issued until January 14, 2009. It is assumed that there could be a new lease in place, but the documentation provided indicates that the rent is $1,150. In discussion with the Assessor, Mr. Wahl indicated that the tenants were responsible for all utilities in their rental properties. However in this townhome complex, the water bill appears 6301 Shingle Creek Parkway Recreation and Community Center Phone& TDD Number Brooklyn Center, MN 55430-2199 (763) 569-3400 City Hall & TDD Number(763) 569-3300 FAX(763) 569-3434 FAX(763) 569-3494 www.cityofbrooklyncenter.org to be handled by the property owner, which is typically included in townhome association dues. In checking with the utility department, on this particular unit, the tenant is currently receiving the bill for water/sewer utilities. In the Mallard Creek townhome association the exterior maintenance, insurance for the structure shell, trash, yard maintenance and snow removal are included in the association fees, which is an expense of the owner. Due to the lack of itemization of repair expenses listed, and an amount for utilities, the income documentation was reviewed, but not felt reliable for use in calculating the income approach. As the majority of townhome properties in Brooklyn Center are owner occupied, more weight is given to the sales comparable approach rather than the income approach. A market derived income approach of a two bedroom townhome property has been included with this report. This income approach deducts a typical association fee in expenses to cover the typical utilities that would be covered by a property owner. Mr. Edlich provided a comparative market analysis listing of comparable townhomes in Brooklyn Center with the initial appeal application for the subject property. A copy of this list was included with this report. This analysis included active listings, pending listings and sold listings. The comparative analysis provided no open market sales transactions. All sales, pending sales, and active listings were rejected non-open market sales, or currently listed on the Hennepin County Sheriffs foreclosure list. There is only one property that is considered open market, but is currently listed for$129,900 and has only been on the market for thirteen days. The enclosed sales comparable detail completed by the Assessor's office compares the property to three similar townhome properties. Comparable number one is located in the Mallard Creek townhome complex and although larger in size, is considered the most comparable to the subject property. The enclosed sales comparable detail indicates a range of value for the subject property from $113,201 to $128,944. It is the Assessor's recommendation to reduce the 2010 estimated market value on the subject property from $116,300 to $114,000, for taxes payable in 2011. Respectfully submitted, Nancy Wojcik, SAMA City Assessor SUBJECT PROPERTY 5418 70 Cir Cel Monton LLC PID# 28-119-21-43-0108 i - Land Characteristics Land Area 2,992 sq. ft. Building Characteristics Style: Split Entry 924 sq. ft. Main Level Room Count: 5 / 2/ 1 Full Bath Below Grade Room Count: 2 / 0 Bid / 1/2 Bath Garage: 2 Car Tuck Under Fireplace: 1 Porches/Decks/Misc. : Deck / Patio / Walkout Central Air Conditioning: CAC Report Name: Images City of Brooklyn Center Printed: 4/28/2010 PID: 28-119-21-43-0108 Page: 1 Property Images —3, "'" , AM Tw R r„ r \ �r y, ✓ irr Z e- Report Name: Images City of Brooklyn Center Printed: 4/28/2010 PID: 28-119-21-43-0108 Page: 2 Property Images Report Name: Taxpayer Inquiry City of Brooklyn Center Printed: 4/15/20 10 Taxpayer Inquiry 28-111-2143-0108 5118 70th Or 55429 Lasl NaW First Name mi Owne laxpaye Resident Ce1 Monton LLB Y Y N FrUntag Left Sid $:a`title Right Sid M Width M Dialk Proany Area Acre g [caning 1�M a3`" Elimpt de School Dist J&atctshed Yr Built 34 0 0 0 0 88 2,992 0.00 R3 0279 14 1971) 19" YCL #Nmb Load YAW BlValue Mach Vain Tot Mkt Value Tax Cap Ilmstd M Re H Ea %Owo Yom°, 2010 1 1 25,000 91,300 0 116,300 1,163 N N N Y 0 N 2009 1 1 30,000 103,200 0 133,200 1,332 N N N Y 0 N 2008 1 1 30,000 89,400 0 119,400 1,194 N N N Y 0 Y Lot: 035 Black: 001 Addition: The Ponds Plat Two I •LQGlS -Property Data System -City of Brooklyn Center gf i flC Server C:tlrgrarFiI iI _ s> n CAMA Inquiry i y is ♦ f. i ! y Ism NONNI v � p 3V i, a i f i , A f i ;f '• t ,� +i. � i f 1 t sr L V , �i Property a • Server • {a 1 Todoys t34 , (Awszkw Karen Casto rte TFa t yy i A T5 3 CA MA Inquiry "Oft 77-7-777 As p$ s 4, E' E v= v � ��11, s� t . W H Tourer E z wox R 0 OA T01 " qFt i6 Taic, '0 t ca, $3D < T v �z .+r P m�\ h i T rd p 1` z T �� t @t R E, .\ � z .. \\ @ 7 e,. r „ � SA k Ej i k" S gx X10 6 rrek' \\nc:✓ \ i F W WAN City of Brooklyn Center P1U: 28-119-21-43-0100 Property Type: Y-Townhouse Value Info: Residential Field Card Property Address:5418 70th Cir Zoning: R3 YearNersion: 20101 1 Printed: 4123/2010 Lot 1 Block: 0351001 Dwelling Type: Townhome Land: 25,000 Assessment Year. 2010 Addition: The Ponds Plat Two Owner($): Cell Monton LLC Bldg 91,300 Version 1 District: Total: 116,300 Neighborhood: 0191 1 ?tt+srlc� 1, t` Fatrr' 4r Flow, Total ��- �' :. Model: Garage#1 Area(SgFt) 1,012 Kitchen Rig Standard Interior: Interior: Res, Conti: Average Placement: Tuck Under Type: Regular Interior: Sheetrock Trim: Trim: Dwell Type: Townhome #of Cars: 2 Finished( }; 50 Trim: Hardwood Floor: Floor, Int,Layout: Standard Floor Area: 440 Quality; Very Good Floor: Carpet Avg,Clear,Height: Avg Clear,Height: Adjacent Property: Equal Condition Excellent #of Fireplaces: 1 Avg Clear.Height: #of Fireplaces: #of Fireplaces. Manual Assess: N Exterior Walls: Wood Fplc,Quality. Very Good #of Fireplaces: Fp1c.Quality: Fpfc,Quality: View: Equal Avg.Clear,Heght° Fplc,Quality: Actual Age, 1979 Elec,Svc: Standard Arch.lAppeal Average Htg Forced air,gas fired Effective Age; 1960 'eras# Walkout, Standard Walkout Quality: B07 Placement, Walkout Quality: Excellent 1st B+�t (*Quality) l id Oath (#!'Quality) .3(d Baths(#/Quality) Renovated Age: #of Cars: Spa; I Via: 1 Spa: I Shape: Square Floor Area: Dix; 1 131x: I Dix: 1 Functional%: Condition Fult 1 1 Average Full 1 Full 1 Style:. Split Entry/Foyer Exterior Walls. 314: 1 314: 1 314: I Economic%: Construction: Wood Frame Basement Oaths(i ual.) 112 1 112; 1 112- 1 Porch Spa: I Building Areas Exterior Wails: Wood Glazed Area. DEx: 1 1st Room Count 2nd Room Count 3rd Room Count Unfin, 1 st GSA: Quality: Fult 1 Bedrooms: 2 Bedrooms Bedroom& Unfin 2nd GSA: Exterior Trim: Brick Screened Ares: 314: 1 Batas_ 1 Baths, Baths: Unfin 3rd GBA: Quality_ 112- 1 1 Average Family_ Other. Other. Unfin Total GBA, Roof Typw Gable Open Area: Living: 1 Total Rooms: Total Rooms: Quality, Dining I I st Floor Area: 924 Roof Cover Shingles Basement Bloom Count Kitchen: i 2nd Floor Area: Patio Bedroom& Other, 3rd Floor Area: Window Type 1: Gliders Baths: 1 Total Rooms: 5 Total GBA' 924 Patio 1 Area: 176 Family: 1 Window Type 2: Quality, Average Kitchen; Flat Value Patio 2 Area: Other: 1 Value: Air Conditioning: Central Quality: Total Rooms-, 2 Desc-. Total Rooms Dormer Length; Deck Bedroom m s. 2 z. ., .�', � �.. ' �. <� , ,,a- �..r�` - Baths. 1 Dormer Qual` : Deck 1 Ares. 178 Family: 1 Quality, Avery Date. 04/1512008 Appraiser 0 21 Appraiser 10r. Living: 1 Price: $52,000 Appraisal Date; 0412212010 #Patio Doors: 3 Deck 2 Area Dining: 1 Code: 15 Reason Board of Review Appraisal Date: Ctuality: kitchen: 1 Desc; Forced Sale Result; Interior Other: 1 Last Interior Inspection: 0412212010 Reason: Total: 7 Pool Pool I Area: Result Quality Left Tag: Yes I No Pool 2 Area; Quality. Comments WRAPPED ORIG WINDS& XT- SHRK&INSUL IN GAR. ORIG KITCH FINISH WILIGHTED CEIL,NEWER CT FLR,VANITY 8 VINYL SUR IN MAIN BATH.SSMT FIN SHRK&SPRAYED CEIL. 112 WALL STONE GAS FPI.NO CT IN SSMT BATH,BSMT FIN PARTITIONED INTO 2 RMS W1 INT FRENCH DOORS. OTHER RM NO CLOSET,NOT A BR. AVG INT COND.RENTAL, PREVIOUS HANDICAP ADAPTATIONS HAVE ALL BEEN REMOVED 10 REVIEW. City of Brooklyn Center PID; 28419-21-43-0108 Property Type, Y-Townhouse Vacua Into: Residential Field Card Property Address:5418 70th Cir Zoning: R3 YearNersion, 20101 1 Printed 412312410 Lot I Mack, 0351001 Dwelling Type: Townhome Land: 25,000 Assessment Year: 2010 Addition: The Ponds Flat Two Owne0s): Cei Monton LLC Bldg 91,300 version: 1 District: Totat 116,300 Neighborhood: 4191 l.artd,. Lam.,,• Attributes influences Building.Dimensions Land Type, Townhome Lot Frontage: 34 Park: Gas Length Width Sq Ft Land Qualify: A06I Land Left Side; Park Quality: Paved Street 22 42 924 Area Rating; Average Rear Side: On Lake: Sewer Available 0 0 4 Site Rating, Good Right Side: Labe Quality. Water Available 0 0 0 Zoning R3 Effective Width: On River: 0 0 0 Contamination Effective Daptti: 88 River Quality: 0 0 0 Flood Plain Map Rst: Effective water: Landscape luality+: Average 4 0 0 PUp Ref: Property Area(SdFt): 2,992 0 0 0 Allowable Units: Acreage Not Suildablec N Excess Land{SgFt): Adjacent Owner, N Usable SgFt; Flood Plaih N Fiat Desc: Zoning Variancer, N Flat Amount Manual Land; N 22' 22' El' deck 8' PATIO 176 St 176 sf \ k ,� ..._ 22' 22' 3.. w/tu gar Basement J " 1012 sf 1 42' First Floor 42' 924 st ' x" M to Garage 20' 440 sf 4 ft gar extension Sk�eia bar A�pty€ : �" Report Name: City Of Brooklyn Center Printed:4/28/2010 Sales Comps Details Sales Comps Details Page: 1 Item Subject Com111 Comu2 Coma3 ° PID 2811921430108 2811921430111 3611921330079 0111821310118 Address 5418 70th Cir 7001 Unity Ave N 1329 63rd La N 5576 Aldrich Dr N District Sale Price $52,000 $120,000 $94,500 $122,000 Sale Date 04/15/2008 08/28/2009 09/28/2009 06/22/2009 Cash Equivalent Price Per Sq.Ft. $56.28 $110.91 $82.89 $120.55 Dwelling Type Townhome Townhome Townhome Townhome Style Split Entry/Foyer Split Entry/Foyer One Level/Rambler Split Level Property Area 2,992 3,492 2,263 1,404 Actual Age 1979 1979 1983 1985 Effective Age 1980 1980 1984 1985 Quality Class B07 B07 B07 B07 Ist Floor Area 924 1,082 1,140 1,012 Total GBA 924 1,082 1,140 1,012 Finished Area 1,430 1,634 1,140 1,399 Basement Area 1,012 1,104 968 Basement Finished(%) 50% 50% 40% Total Bedrooms 2 3 2 2 Total Bathrooms 2 2 1 2 Garage 1 Floor Area 440 480 625 418 Garage 1 #of Cars 2 2 2 2 Garage 1 Placement Tuck Under Tuck Under Detached Tuck Under Total#of Cars 2 2 2 2 Walkout Type Standard Walkout Standard Walkout Air Conditioning Central Central Central Central Pool Area-Total Fireplaces 1 1 Deck Area-Total 176 192 99 Porches River Lake Influences Highway/Freeway Sq.Ft.Adj $41,209 ($3,208) ($5,864) ($3,233) Add BsmtAdj $9,159 ($832) $9,159 $157 Ded Unfin GBA Adj Site Adj $25,000 Garage Adj $6,516 ($1,798) ($180) Walkout Adj $5,883 $5,883 $5,883 Patio Adj $119 $119 Bath Adj $8,145 ($2,263) $1,207 ($2,085) Air Conditioning Adj $1,672 ($286) ($437) ($210) Porch Adj Fireplace Adj $2,715 $905 $2,715 $2,715 Deck Adj $1,274 ($116) $1,274 $537 Fin Bsmt Adj $10,990 ($999) $10,990 $2,348 Misc.Adj $1,358 $895 $893 Total Adj $114,040 ($6,799) $24,024 $6,944 Market Adj Value $113,201 $118,524 $128,944 o.4 AW " W"or*4 ' T"Avg N pwk gr z1 Awair!� �a�rk f Atw►m - X rUO Avw ft lit x Lift or ., t r�«�► A�elp ac x *MO .. to N Af«s 'Wool VAC � " � +lam AVrt?�T INi Aiart '6 pwk 'sm Avg N Ads 14F Aim ., st N Std!t P COMPARABLE SALES MAP COMPARABLE 701 Unity Ave COMPARABLE#2 1329 6P la N COMPARABLE##3 5576 Aldrich Dr Report Name: Salesinformation Printed:4/2812010 City �►f Brooklyn Center Page; I Sales Information Report 28-119-2 143-0109-5418 70th C r Sall Dot Salt trite Cash x bit'1C uklalk ALYr V9E saw xr QY.,Ver OV13/2008 $52,000 $0 01-Warranty Deed 15-Forced Sale 2009 I 0 0 115/0111979 $63.205 $0 11-Other 99-Conversion X Sales PARTIAL CONSTRUCTION 2005 1 0 0 Report Name: Permit list Priatte& 04;'0 2010 City of Brooklyn tenter Pale: '1 Permit List Permit List for: 5418 70th Cir Pgr111it it I!" YAIU P_crauit h SlIb'I'voc Work,Tx f1r bucripfiga CAncelitd Issued Date final I)a Ds1 J)atx jUil ilign I)at BXjVjjAjjgU BC 035497 $1,500 Sewer&Water Water Repair STOP BOX REPAIR 93125/2011 03/271,'2008 13('0112211 $500 Plumbing Residenfial WASTE&VENT 03i291999 0(0,101211«") BC€112127 $4,929 Building; Residenlial Single Famil Rent( l/Altcratian BATH 03/111/1999 0)(1109/1") BCO119911 SI.500 Building Townhomes Replace 1FARt1FF/RERf:OF 03/03/1 04/26d") 130:0 08494 $2,600 Mechimieal Fuma" Additim GAS FIREPLACE 0812611997 0}8:,27191)7 INSERT Permit Count: a CITY OF BROOKLYN CENTER LICENSE INFORMATION PIU: 2811-921430108 Ucense Inftirmatian: License Number: 01004199 License Status: A License Type: Rental 12 License Location: Business Applicant: Company: Douglas Allen Wahl Business Address: 1845 Stinson Parkway NE, Business City: Minneapolis Business State: MN Business Zip: 55418 Telephone: 6127828888 Assigned Dates: Applied: 8/27/2008 Inspected: 9/19/200 Council: 1/12/2009 Issued: 1114/200 Expiration: 8/31/2010 I 2010 INCOME APPROACH ANALYSIS Single Family Residential Rental YEAR OF CONSTRUCTION* 1979 PI D: 28-119.21-43-0108 Owner(s): Cel Manton LLC 5418 70th CIr Brooklyn Center, MN ACTUAL MARKET Unit Type #t Bedrooms RENT RENT 0 STUDIOS $0 $0 0 1 BEDROOMS $0 $0 1 2 BEDROOMS $1,150 $1,000 0 3 BEDROOMS $0 $0 0 4 BEDROOMS $0 $0 2 Garages $0 $70 Garage stalls included in rent MONTHLY ADJ.. RENT $1,074 TOTAL ANNUAL ADJ. RENT $12,840 GROSS BUILDING AREA 924 LAND AREA 2,992+townhome common area CAPITALIZATION PROCESS MARKET POTENTIAL GROSS RENT(PGt} $12,840 LESS:VACANCY&COLLECTION LOSS %OF PGI -2.00% ($257) OTHER MISC INCOME 1.00% $128 (Application Fees&Late Fees) EFFECTIVE GROSS INCOME $12,712 LESS:ANNUAL EXPENSES: %OF Ptah Insurance -4.500 ($578) Asssociation Dues -2,00% ($257) Rental License -3.00% ($885) Maintenance&Cleaning 3.0007 ($385) Reserves for Repairs -2.00% $257) TOTAL ALLOWANCE -14.50% ($1,605) ANNUAL NET INCOME $8,245 RETURN ON &OF PERSONAL PROPERTY $1,500 HOUSEHOLD ($184) NET INCOME TO REAL PROPERTY $8,055 CAPITALIZATION: CAPItTALIZATION RATE 6.00% EFFECTIVE TAX RATE AVERAGE 1.66% OVERALL CAP RATE 7.66% 7..66% 2010 CAPITALIZED VALUE OF PROPERTY $118€339 For Ad Valorum Tax Calculations,property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation. Monthly rent does not include utilities. Tenants are responsible for paying water, gas, electric, garbage, maintaining lawn and snow removal. 1 .ipr; '09 2010 1 08P HP LASERJET FAX P• 3 Comparative Market Analysis Irlday.Aprll S,2010 Summary of Comparable Listings This page summarizes the comparable listings contained In this market analysis, I Active Listings Addrvsp Price Bds 0th TF8F $18q Built 8" last.0ats DOM CDOM 8= 5354 70Th Circle it£ 544,600 2 1 1890 $27 1079 TWNSB 02/1012010 68 492 5309 71 St Circle $120,000 2 2 1454 $89 1070 TWN88 0312912010 11 13 Averages: $87,400 2.0 1.8 1117.1 $be 1979 38 259 Pending Listings Addrese Pries gds 8th TFSF $1Sq Built Stylo Off Market DOM CDOM S■ /� 635272Nd Circle (fCTUrCC/USu^� f"$50,500 2 1 1021 $49 1983 TWNSS 0410212010 8 8 Averages: $60,500 2.0 1,0 1021 449 1083 8 8 Sold Listings Address Price gds Bth TF$F t$q Built Style Sold Date DOM CDOM S= 5350 71St Circle Zt $40,000 2 2 1364 $29 1980 TWNSS 07124/2009 33 153 5418 70Tn'C1rcle 3 $56,000 2 1 626 $108 1979 7WNSS 03/24/2010 9 9 5348 70Th Circle i�1 $47,500 2 1 1144 $41 1979 7WNSS 01/282010 35 36 5329 72Nd Circle l.S $49,900 2 1 904 $55 1985 TWN$S 10/222009 8 442 5303 72Nd Circle 1-:57 W,000 2 1 920 $50 1984 TWN88 04/20/2006 62 52 5415 N 71 St Circle IS- $60,000 2 2 1581 $32 1978 TWNSS 08108!2009 6 5 5319 707h Circle $64,900 2 2 1480 $36 1879 TWNSS 10/18/2009 9 9 5403 71St Circle.IJ sea,000 2 2 1664 $41 1879 TWNSS 07117/2009 14 285 6822 72Nd Circle IkAn � ' i�st: $81,500 2 1 1004 $81 1963 7VWNSS 03/26/2010 186 349 6342 70Th Circle I3 $82,045 3 2 1622 $51 1970 TWNSS 06/26/2009 112 112 Averages; 611'"s 2,1 14 1220 $60 1981 47 143 Median.or Cornparable Listings: $80,500 - Average of Comparable Listings: $60,081 On Average,the'Sold'status comparable listings sold in 47.30 days for$66,685 CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19, 2010 through April 9, 2010 You must return this application by ARM S. 2010. to be placed on the Agenda for the Local Board of Appeal and Equailzatlon held April 19, 2010 at 7:00 P.M. Name(s) --LD04 L- Daytime Contact Number. '/ -• t�S�S� Property Addressa � Property Identification Number , 3•-/(�- - -C '" 7 Assessor's.2010 Estimated Market Value 4:5 •CIO Is your property residential, commercial or multi-family? , !f you are appealing a commercial, mufti-family or residential rental property you must include income and expense data for calendar year 2009 with your application. What is the reason you are appealing your 2010 assessment? � � • < r �v21r: c./ GZ' U5 !'Aa7 l+��' [ PI/.�•► /S- nol- /ate.' A .4--e F.,,A �4 When did you purchase our ome? Date of Purchase /10 Purchase Price Did you purchase your property from a bank, as a foreclosure or short sale? Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. Have you had a recent appraisal for refinancing, purchase or a market analysis by a real estate agent completed within the last year? es ti If so, what was the determination of value? � taw., >'r At. What do you think the market value of your property should be? /© Kf/G• Please provide any documentation supporting your claim of overvaluation or erroneous classification with this application, In order to aAASeI_y_Qur valuation an apioointment to view the property will be required. Comparative Friday,April 9,2010 Summary of Comparable Listings This page summarizes the comparable Ilctings contalned In thls market analysts. r Sold Listings Address Price Bds 8th TFSF 6l3q Built style Sold Dab DOM CDOM 5' 8931 Perry Avenue 6801000 2 2 1830 $33 1988 SPEBI 03109/2009 10 10 7066 Perry Avenue $74,501 4 2 1666 $48 1957 ONEST 01/20/2010 1 1 4824 71St Avenue $72,500 3 2 1100 668 1958 ONEST 04/24/2009 16 187 6924 Scott Avenue $80,00D 6 2 2208 $23 1958 SPE91 03/30/2010 2 7018 Regent Avenue W.000 4 1 1824 $44 1959 ONEST 05/01/2009 22 167 6913 Toledo Avenue 697,500 3 2 1880 $59 19513 ONEST 03/95/2010 5 113 6945 Major Avenue $96,000 3 2 1501 SW 1939 ONEST 12/30/2008 3 198 4825 71 St Avenue $90,000 4 2 1796 $50 19811 ONEST 01115!2010 21 21 6927 Lee Avenue $93,000 3 2 1522 $81 1952 ONEST 066/1512009 ; 45 45 7013 Regent Avenue $112,900 3 3 2150 $53 1956 FOURM $2126/2010 48 56 Averages: ;62,540 3.5 Z.0 1729 >« 1059 17 go Median of Comparable Ustings: $85,400 Average of Comparable Listings: $12,840 On Average,the'sold'status comparable Ileilnpa sold in 17.00 days for$82,540 � ME CEL Monton, LLG Profit & Loss 7030 REGENT Jan-Dec 09 Ordinary Income/Expense IncorM 4100-Rental Income 12,180.00 4200-Fee Inoome 4280,Applicatbn Fee 70.00 Total 4300-Rae Inane 70.00 Total Income 12.330.00 Expense 5100- Insurance 8110 -Property Insuranes 633.08 Total 6100-Insurance 833.08 $200-Interest Expense 5220 -Loan Interest 4,807.80 Total 8M•Interest Expense 4,807.50 5300 Repairs 1,185.75 5400 Utllltles $410 Gas 489.56 5420•Water 105.36 TOM 8400-UtIlItles 604.91 6000- MATERIALS 893.34 52DO-Taxes 6230 Property Taxes 2,503.48 Total 8200-Taxes 2,503.48 7040•Licensee and Permit 400.00 7090-Property Maintenance ?62.75 7061•Cleaning Expense 770.00 Total Expense 12,540.77 Not Ordinary Income -310.77 Net Income -310.77 i Page 1 Review Of 7030 Regent Ave N PID#28 119 2144 0057 For Cel Mouton LLC 2010 Board of Appeal and Equalization 3 T{ Y„ u ?, r a sa i City of Brooklyn Center A Millennium Community T0: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID # 28-119-21-44-0057 Cel Monton LLC 7030 Regent Ave N. Brooklyn Center, MN 55429 A representative of Edlich Realty contacted the 2010 Local Board of Appeal and Equalization regarding the 2010 estimated market value of the property located at 7030 Regent Ave North by telephone on April 8, 2010. This property has a 2010 estimated market value of$131,900. The board directed Mr. Edlich to schedule an appointment for an interior review with the Assessor's office. A review of the property was scheduled on April 22, 2010 with an appraiser from the Assessor's office. The property is a 1,000 sq. ft. rambler with a two car attached garage and deck in average condition.The main level includes a living room, kitchen,three bedrooms, and one full bathroom. The main floor finish is sheetrock walls with refinished wood floors, and the original kitchen cabinets. The main floor bathroom some updating with a ceramic the floor, newer vanity and an updated vinyl tub surround. The basement finished area includes one small family room, one bedroom and one other room. There are is one legal bedroom with an egress window. The basement finish is completed in with sheetrock wall and some panel finish. The basement includes one 3/ bath in average condition. The finished area comprises 60%of the total basement square footage and is considered very good quality. The property has a gas forced air furnace and central air conditioning. There has not been an interior review of the property since prior to 1998. Access to the property had been denied every quintile. After reviewing the property, changes were made to the basement finished percentage and to adjust total deck area. The property calculated an estimated market value of$128,100 after changes. As requested, Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was provided to the council in the initial appeal packet from the owner. The actual rent figure of$1,200 and a total 2009 annual amount of$12,160 were provided to the Assessor's office. An amount of$1,200 is under the average rent for a four bedroom home. A monthly rent of$1,300 was used in the 2009 market income approach to reflect the typical four-bedroom home. Additional comments indicated rents were decreasing as owners renew yearly leases. The subject property was purchased December 20, 2008, and the rental license was issued April 14, 2009. It is assumed that the original lease amount is currently still in place. In discussion with the Assessor Mr. Wahl indicated that the tenants were responsible for all utilities, maintaining the yard, and snow removal. Due to the inclusion of utilities that were to be the obligation of the tenants,the owner's documentation was reviewed, but not felt reliable 6301 Shingle Creek Parkway Recreation and Community Center Phone & TDD Number Brooklyn Center, MN 55430-2199 (763) 569-3400 City Hall & TDD Number(763) 569-3300 FAX(763) 569-3434 FAX(763) 569-3494 www.cityolbrooklyncenter.org for use in calculating the income approach. As the majority of single family residential properties in Brooklyn Center are owner occupied, more weight is given to the sales i comparable approach rather than the income approach. An income approach of a single family four bedroom rental property has been included with this report. Mr. Edlich provided a comparative market analysis listing of comparable homes i in Brooklyn Center with the initial appeal application for the subject property. A copy of this list was included with this report, as rejection codes and open market sales were noted. The comparative listing provided two open market sales within the sale study period. The open market sales were; 6927 Lee Ave N.—Sold 6/15/2009 for$93,000 As-is, and a resale of a prior bank sale at 7019 Regent Ave N. —Sold 9/15/2009 for$145,500. All other sales listed were rejected for the state sales ratio study, or did not fit within the sales date range. This gives a sales price range of$93,000 to $145,500. The enclosed grid completed by the Assessor's office shows the subject property adjusted value at $127,603. The adjusted value requires an addition of a $500 flat charge for the basement egress window for a total comparable value of$128,100. The comparable grid compares the subject property to three similar rambler homes in Brooklyn Center. While the subject property is exactly the average 1,000 sq. ft. home, three rambler sales were chosen as comparables to the subject property. Adjustments were made to all comparables for size, garage, basement, deck and amenities to be like the subject property. Comparable number two required the least amount of adjustments to be similar to the subject property. The enclosed comparable sales grid indicates a range of value for the subject property from $126,143 to $137,072. It is the Assessor's recommendation to reduce the 2010 estimated market value of$131,900 to $128,100 for taxes payable in 2011. Respectfully submitted, Nancy Woj ik, SAMA City Assessor SUBJECT PROPERTY 7030 Regent Ave N Cel Monton LLC PI D# 28-119-21-44-0057 ;v yIII I lii�w 1I1 '� ��� r 1,�E✓ , � ' � pf�., I I Ali n •z '`� - _ �`,.' ' ', .. _ y.,.«'"` 'I,� m i Land Characteristics Land Area 10,312 sq. ft. Building Characteristics Style: Rambler 1,000 sq. ft. Main Level Room Count: 5 / 3/ 1 Full Bath Below Grade Room Count: 3 / 1 / 3/4 Bath Garage: 2 Car Attached Fireplace: 0 Porches/Decks/Misc. : Deck / Egress Central Air Conditioning: CAC Report Name: Images City of Brooklyn Center Printed: 4/30/2010 PID: 28-119-21-44-0057 Page: 1 Property Images ROOM v ,i; ICI �n Ilgll II�IIIIIIIII�IIII I dill II I I Report Name: Taxpayer Inquiry City Of Brooklyn Center Printed: 4/27/2010 Page: 1 Taxpayer Inquiry Display PID House Nbr Street Name Unit Zip Code (±A) 28-119-21-44-0057 7030 Regent Ave N 55429 Last Name First Name MI Owner Taxpayer Resident Wahl Doug A Y Y N Frontage Left Side Rear Side Right Side EM Width EM Denth Property Area Acreage Zoning P/S Exempt Code School Dist Watershed Yr Built 75 137 75 137 0 0 10,312 0.00 R1 0279 14 1958 Year Ver #Subs Land Value Bldg Value Mach Value Tot Mkt Value Tax Cap Hmstd Midvr Rel H PA %Own P/C 2010 1 1 47,000 84,900 0 131,900 ; 1,319 N N N R 0 N 2009 1 1 58,900 92,600 0 151,500 1,515 N N N R 0 N 2008 1 1 61,200 116,100 0 177,300 1,773 Y N N R 100 N Lot: 003 Block: 001 Addition: Miller's Willow Lane Second Addition J LOGIS - Property Data System - City of Brook(yn Center <Files on BC Server,- <CAProgram FiIesU-ogjsXPDS—cs:- , .,�infile; Today's date:4F301ZU70 '4 Rclea": 1.07.04I 28-119-21-44-0057 Adsess TO ,f F '� t A �� Lagged on user:NWOiK (Assessina-Nancy Wbicik(PD CAMA Inquiry �r f3 >z ., ..... Tani , iaslip s �3 ,� r i 1Fsl� a u l wo I` � # . Z TOH U tz 8u H f GIs kiss U' .eke. '' T ! -,_- t iarie le. Ilf�ambler Y n '• f l'i .......P X. Rl p r 449 { ,d,.......cry i- M. 1, OR �,. A ��ay `4 �y Aye �� &�`� $f q 4 a lla 3� 5 ASS woo r, '�P T, 4 go s1�.7 �c ',, Doom. ., g n ' IMI, PO•,. .a `. ,; ',3'�,,d,l. v✓.. „Ik, _,,. K<r -' "3 m �3•by 3 jS. „ 9 xTU. g"" > t�:a fi -...- ..��..., ..., . � --� ::� ,< �n", fkk- -2�x"^ar �u En f <Z.3.3 � -'��„f"�$b:S?:.. ffi r i M, ✓ VIM IN «u as., 4€„ 2P �•, a r r .r x , s y 3 3 a ;�.. ,z ",'`, tt :'F: ,.fit' ,r: r �a {{x.4. ,.. <�,:fi�x�a�-.3�'k.,,x:.. a,' ..... 7�T�Y i+W�, ..,"� 3,i?�<, h'. �, ..: :., _ 'r rz ,*' :'.0 .,., y<. a:-�h3 'h,2 '.:x %t. ...;... A ,..,-,f➢� � � ,N, hn.$ '' ^S E.r r°) (+`1 t'%ii�3Eac K Vic. # ; 1 Property F . of i ro on r i grarn FilesM-ogisxpDS Property ID House ; Street Name 1In 1 Photo(s)on file Today's date: 412301 U 1 Sketch(es)on file Release: 1.07.041 r(28 9-21-44-0057 Address: 703,0 erat Aye N Logged on user:NMJCIK fAssessina-Nancy Woicik fPD Single PID 1 Parcel Search 2 Clear 3 Prink 4 View Photbs Parcel Status: ACTIVE _.... TaH UpaT 7 7 7 7M ' Value Notioe"File Inquiry Values Mass Update ! ales Administration Assessment Year.:, M�rf�arlAxsess�nen�•. � Mar�ual�anct" � Sales information Sales f3atios B-uildin 9 Land: umrctey N Comparabies In ti Dwellin T e: Gluaht . St le." MinMaK Cods gypg[eiy y l317 nel�ey>xl/Rsinbler f'ricell ime Adjrastman Total 15BA: 1000 Age orung: ' Fil Weight Parameters Compairables Batch,Li Basic Fiats $58 u P. pro Charackeristics. Adjusted Rats. $ f1:t70. ---> �41a1 0.0 Shags%'• 0.0 Land " lnspections Adi.gate""GBA $50.t -->' rJd Basement: $10:Q0Q $10. OD Residents €1 U EIA $0 SgFt $30.00 Comrrierc€al 11n I€ 0 M t Fam€ty p�p ' Adjusted T tai $Ii0 tt00, t "� C Field Card grant' tad Inspeckions Mass Add Additive Airroiu�t , ;$ 9! 5?1 Gage" $6X52 f)rumers: $ Patip Rvors: $Q Property Mass Upd. •` �; 0 $2 becks. $1.712 ,Residential.Mas' Add r W�kouL Arr C#rnd 00a a A• ' Ptlo $0 Potts;, $Q Piols: C4MA $0 -LAMA I nqurry 3 :- Market Value�esld�. � .. Eths v $tQiti[#0 Fit€aplaes: $0 Fin.Bsmk: $8.400 .¢!larkek V we. Q msi Total Cost $&�p8d Itchen: $ Market Value Multi Fa I Bate Tables-Land Adjslstments S. 4. te0r4 tidn : _ influences Rate Tables Fssrder .LAMA' Land = Q.0oonorrc CAMA Resrdenr<al ff1a Special Ass ssm10 Building Value "$60 600 . ': CAMA Bldg,Mkt (aloe.; $81.1 pp Reports and Inquiries '' D Database Llktiikif~s r Flak Values $5t3Q Land Mkt;Value $47,00 Its Security Adminiskrattcin� ` `' l , „ Total Mkl.Value.i X128,100 tom, I City of Brooklyn Center PID: 28-119-2144-0057 Property Type: R-Residential Value Info: Residential Field Card Property Address: 7030 Regent Ave N Zoning: R1 YearNersion: 2010/ 1 Printed: 4/27/2010 Lot/Block: 003/001 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Miller's Willow Lane Second Addition Owner(s): Doug A Wahl Bldg: 84,900 Version: 1 District: Tota l: 131,900 Neighborhood: 0051 TM. Model l"a1r gs fi ry� Area(SgFt): 1,000 Kitchen Rig: Standard Interior: Interior: Res.Cond: Average Placement: Attached Type: Regular Interior: Sheetrock Trim: Trim: Dwell Type: Single Family #of Cars: 2 Finished(%): 60 Trim: Hardwood Floor: Floor: Int. Layout: Standard Floor Area: 440 Quality: Very Good Floor: Wood Avg.Clear.Height: Avg.Clear.Height: Adjacent Property: Equal Condition: Average #of Fireplaces: Avg.Clear.Height: #of Fireplaces: #of Fireplaces: Manual Assess: N Exterior Walls: Wood Fplc.Quality: #of Fireplaces: Fplc.Quality: Fplc.Quality: View: Equal Avg.Clear.Height: Fplc.Quality: Actual Age: 1958 Elec.Svc: Standard Arch/Appeal Average r Htg: Forced air,gas fired Effective Age: 1980 . �: .>.s ...•..., Walkout: Placement: Walkout Quality: ... a#1hs #(94AIIt Y) Renovated Age:Quali tY BO7 (� Od #of Cars: Spa: / Spa: / Spa: ! Shape: Square Floor Area Dix: / Dix: / Dix: / Functional%: Condition: Full: 1 / Average Full / Full / Style: One Level/Rambler Exterior Walls: 3/4: / 3/4: / 3/4: / Economic%: 1/2: / 1/2: / 1/2: / Construction: Wood Frame r Spa: / wilding Areas' Unfin. 1st GBA: Glazed Area Dix: / � ltd Ord 12,q f Ce �i 3 Exterior Walls: Wood Quality: Full: / Bedrooms: 3 Bedrooms: Bedrooms. Unfin.2nd GBA: Screened Area Unfin. 3rd GBA: Exterior Trim: 3/4: 1 / Average Baths: 1 Baths. Baths: Quality: 1/2: / Family: Other: Other: Unfin.Total GBA: Open Area: Living: 1 Total Rooms: Total Rooms: Roof Type: Hip 9� I Quality Dining: 1st Floor Area: 1,000 Roof Cover: Shingles 2nd Floor Area: ._. .P.� Kitchen: 1 Bedrooms: 1 Other: 3rd Floor Area: Window Type 1:Double Hung � � � „ Baths: 1 Total GBA: 1,000 Patio 1 Area: Family: 1 Total Rooms: 5 Window Type 2: Quality: Kitchen: �.. . �.. ,...��+; ,_ ... Patio 2 Area: Other: 1 Value: 500 Air Conditioning: Central Quality: Total Rooms: 3 Desc: EGRESS TOW Re9�i1& Dormer Length: ».,, d' Bedrooms: 4 <. ._ ., Date::. `f•i•; 10/1 '.. ....... „>r Baths: m 2 Dormer Qualit : Deck 1 Area. 214 Family: 1 y 20/2008 Appraiser ID: 11 Appraiser ID: Quality:. Average Living` 1 Price: , pprasaae: 04/22/2010 #Patio Doors: Deck 2 Area $75000 Appraisal Date: Dining:. 0 Code: 15 Reason: Board of Review Appraisal Date: Quality: Kitchen: 1 Desc: Forced Sale Result: Interior Other: 1 Last Interior Inspection: 04/22/2010 Reason: Total 8 0. 4' �, • ., Pool 1 Area: Result: Quality: Pool 2 Area: Left Tag: Yes/No Quality: aca r 3, w a a a .•t new roof egress window,newer furnace name removed,Bay window NEW WIND Assumed 2007.Basement finish includes 1 family room, 1 small other and 1 bedroom. 1 st floor bathroom has vinyl tub surround. 1 st floor wood flooring refinished. Interior completed 4/10 on appeal. City of Brooklyn Center PID: 28-119-21-44-0057 Property Type: R-Residential Value Info: Residential Field Card Property Address: 7030 Regent Ave N Zoning: R1 YearlVersion: 20101 1 Printed: 4/27/2010 Lot/Block: 003/001 Dwelling Type: Single Family Land: 47,000 Assessment Year. 2010 Addition: Miller's Willow Lane Second Addition Owner(s): Doug A Wahl Bldg: 84,900 Version: 1 District: Total: 131,900 Neighborhood: 0051 Land Type: Standard Lot Frontage: 75 Park: Curbse� t F Land Quality: B05-Land Left Side: 137 Park Quality: Gas 40 25 1000 Area Rating: Very Good Rear Side: 75 On Lake: Paved Street 0 0 0 Site Rating: Good Right Side: 137 Lake Quality: Sewer Available 0 0 0 Zoning: R1 Effective Width: On River: Water Available 0 0 0 Contamination: Effective Depth: River Quality: 0 0 0 Flood Plain Map Ref: Effective Water: Landscape Quality; Average p Y 9 0 0 0 PUD Ref: Property Area(SgFt): 10,312 0 0 0 Allowable Units: Acreage: Not Buildable: N Excess Land(SgFt): Adjacent Owner: N Usable SgFt: Flood Plain: N Flat Desc: Zoning Variance: N Flat Amount: Manual Land: N 40' N Basement n 1000 sf 40' 12' v Deck 168 sf 12 40' 20' C4 Garage N N First Floor CA 440 sf 1000 sf `' 2' 20' 6'3' 40' 5', Deck '8' 46 sf a. Sketch by Apex.WdinaTM Report Name: City of Brooklyn Center Printed:4/28/2010 Sales Comps Details Sales Comps Details Page: 1 Item Subject Comol Comn2 C2mo3 r . 0i m PID 2811921440057 3311921120064 2711921430034 2711921340060 Address 7030 Regent Ave N 6800 Scott Ave N 7024 Ewing Ave N 6931 France Ave N District Sale Price $75,000 $126,900 $129,900 $148,000 Sale Date 10/20/2008 05/26/2009 05/29/2009 09/25/2009 Cash Equivalent $120,900 $143,600 Price Per Sq.Ft. $75.00 $119.94 $135.31 $143.60 Dwelling Type Single Family Single Family Single Family Single Family Style One Level/Rambler One Level/Rambler One Level/Rambler One Level/Rambler Property Area 10,312 10,050 10,500 12,907 Actual Age 1958 1955 1957 1959 Effective Age 1980 1980 1980 1980 Quality Class B07 B07 B07 B07 Ist Floor Area 1,000 1,008 960 1,000 Total GBA 1,000 1,008 960 1,000 Finished Area 1,600 1,512 1,536 1,850 Basement Area 1,000 1,008 960 1,000 Basement Finished(%) 60% 50% 60% 85% Total Bedrooms 4 3 3 5 Total Bathrooms 2 1 2 2 Garage 1 Floor Area 440 624 624 528 Garage 1 #of Cars 2 2 2 2 Garage 1 Placement Attached Detached Detached Detached Total#of Cars 2 2 2 2 Walkout Type Air Conditioning Central Central Central Central Pool Area-Total Fireplaces I Deck Area-Total 214 180 Porches 162 River Lake Influences Thru Street Sq.Ft.Adj $45,250 ($736) $767 ($395) Add Bsmt Adj $9,050 ($72) $362 $100 Ded Unfin GBA Adj Site Adj $47,000 Garage Adj $6,292 ($1,829) ($1,829) ($2,148) Walkout Adj Patio Adj Bath Adj $9,050 $4,072 ($2,715) ($2,585) Air Conditioning Adj $1,810 Porch Adj ($586) Fireplace Adj ($1,810) Deck Adj $1,549 $897 $1,549 $1,549 Fin Bsmt Adj $7,602 $3,497 $304 ($3,049) Misc.Adj Total Adj $127,603 $5,243 ($3,372) ($6,528) Market Adj Value $126,143 $126,528 $137,072 Schilling -t yid m Park ?3rd Iwe N r —,3(d Aw N �� � a Uvaoddirat La N 2 x t 2 **Ln N 0 �y x ' +,�, PW Willow P1stA'M`� TtstAV�N �' rte,Aw N , plc Ave N i> . .Eft Awl Fi z � �, Md Av*I- 10 I1 AW l'f ' f _ 2 Z �t A. N fft Aw N Park,, 'Will 11 _ .�� °- . 87q!Ave N .�.. $�A",V — Nero t at C�AChSf Law 1N Orr In _ t La : oI ytts 6Uh AV*N Z tlr Ave N , 2QiQ hticrafmR Cwpo O10 AY't'Eq 0 AND COMPARABLE SALES MAP COMPARABLE#1 6800 Scott Ave N COMPARABLE#2 7024 Ewing Ave N COMPARABLE#3 6931 France Ave N Report Name: SalesInformation Printed:4/27/2010 .City of Brooklyn Center Sales Information Report Page: 1 28-119-21-44-0057-7030 Regent Ave N Sale Date Sale Price Cash Enuiv Sale Tvoe Sale Ratio Comments A&YL Yu QL Yr 4Y.Ver 10/20/2008 $75,000 $0 01-Warranty Deed; 15-Forced Sale 2009 1 0 0 11/29/2006 $170,000 $0 01-Warranty Deed: 21-Bank Sale 2007 1 0 0 04/22/2005 $200,000 $0 01-Warranty Deed 00-Good Sale 2006 1 0 0 04/01/1978 $47,000 $0 11-Other 00-Good Sale FROM MLS 2005 1 0 0 i i Report Name: Permit List City Of Brooklyn Center Printed:4/27/2010 Page: 1 Permit List Permit List for: 7030 REGENT AVE N Permit# 11aft Value Permit Tyne Sub Tyne Work Tvne Description Cancelled Issued Date Final Date Dead Date Expiration Date Refund Date BC019788 $3,542 Building Residential Single Famil Replace REPLACE I WINDOW 05/14/2002 12/11/2002 IN EXISTING BC013747 $3,980 Building Residential Single Famil Replace TEAROFF/REROOF 09/08/1999 04/14/2000 Permit Count: 2 CITY OF BROOKLYN CENTER LICENSE INFORMATION PID:2811921440057 License Information: 12 License Number: 01004465 13 License Status: A License Type: Rental 1 License Location: Brooklyn Center 13 Business Applicant: 12 Company: Douglas Allen Wahl Business Address: 1845 Stinson Parkway NE, 12 Business City: Minneapolis Business State: MN Business Zip: 55418 Telephone: 6127828888 Assigned Dates: Applied: 2/18/2009 13 Inspected: 2/27/2009 1 Council: 4/13/2009 Issued: 4/14/2009 Expiration: 2/28/2011 2010 INCOME APPROACH ANALYSIS Single Family Residential Rental YEAR OF CONSTRUCTION: 1958 PID: 28-119-21-44-0057 Owner(s) : Cel Monton LLC 7030 Regent Ave N Brooklyn Center,MN ACTUAL MARKET Unit Type #Bedrooms RENT RENT 0 STUDIOS $0 $0 0 1 BEDROOMS $0 $0 0 2 BEDROOMS $0 $0 0 3 BEDROOMS $0 $0 1 4 BEDROOMS $1,250 $1,300 2 Garages $0 $70 Garage stalls included in rent MONTHLY ADJ. RENT $1,370 TOTAL ANNUAL ADJ. RENT $16,440 GROSS BUILDING AREA 1,000 LAND AREA 10,312 CAPITALIZATION PROCESS MARKET POTENTIAL GROSS RENT(PGI) $16,440 LESS`. VACANCY&COLLECTION LOSS % OF PGI -2.00% ($329) OTHER MISC INCOME 1.00% $164 (Application Fees&Late Fees) EFFECTIVE GROSS INCOME $16,276 LESS:ANNUAL EXPENSES: Insurance -4.50% ($740) Rental License -3.00% ($493) Maintenance&Cleaning Expenses 5,00% ($822) Reserves for Repairs -2.00% ($329) TOTAL ALLOWANCE -14.50% ($2,384) ANNUAL NET INCOME $11,508 RETURN ON & OF PERSONAL PROPERTY $1,500 HOUSEHOLD @ ($180) NET INCOME TO REAL PROPERTY $11,328 CAPITALIZATION: CAPIITALIZATION RATE 6.00% EFFECTIVE TAX RATE AVERAGE 1.66% OVERALL CAP RATE 7.66% 7.66% 2010 CAPITALIZED VALUE OF PROPERTY $147,885 * For Ad Valorum Tax Calculations, property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation. Monthly rent does not include utilities. Tenants are responsible for paying water,gas, electric, garbage, maintaining lawn and snow removal. Comparative Market Analysis F11day,April 9,2010 Summary of Comparable Listings This page summarizes the comparable listings contained In this market analysis. Sold Listings i Address Price Bids Bth TFSF $I$q Built Style Sold Date I DOM CDOM So 8831 Perry Avenue IS $80,000 2 2 1630 $33 1988 SPE81 03/09/2009 10 10 7068 Perry Avenue L( (20ti j $74,501 4 2 1W $45 1957 ONEST 01/2012010 1 1 4824 718tAvenue 19- $72,600 3 2 1100 $00 1958 ONEST 04/2412008 15 167 6924 Scott Avenue I S ( —;?o(I) $60,000 8 2 7208 $23 1958 SPE131 03/30)2010 2 7019 Regent Avenue I S $80,000 4 1 1824 $44 1959 ONEST 05/01/2009 22 187 6913 Toledo Avenue 21 CZ o c a $97,500 3 2 1680 $59 1959 ONEST 03/15/2010 5 113 8945 Major Avenue 16 $95,000 3 2 1501 S63 1989 ONEST 12/30/2009 3 199 4826 71 St Avenue 03 C ZO(G $90,(00 4. 2 1798 $50 1980- ONEST D1/15/2010 21 21 6927 Lee Avenue Goob IBS- IS$ 93,000 3 .2 1522 $81 -1952 ONEST 06/15)2009. ; 45 45 7013 Reg ant Avenue Z0 t i). $112,800 3 3 2150 $53 , 1858 FOURM•, 02/20/2010 48 56 '7 e $82,840 3..5 2.0 17211 $ 1969 17 90 -i-- i Medlan of Comparable Listings— $85,000 Average of Comparable Listings: $02,540 On Average,the'Sold'status comparable Ilsiings sold In 17.00 days for 1662,540 , s . CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19, 2010 through April 9, 2010 You.must return this application by April 9. 2010, to be placed on the Agenda for the Local Board of Appeal and Equalization held April 19, 2010 at 7:00 P.M. Names) � L 4 -T_ ft%' Daytime Contact Number: 4�/ Property Address ' ' 41 Property Identification Number Assessor's 2010 Estimated Market Value Is your property residential, commercial or multi-family? 66_:!!� If you are appealing a commercial, multi-family or residential rental property you must include income End expense data for calendar year 2009 with your application. I Wha is reason you are appealing your 2010 assessment? 4' e f1 CJ'4l /d k y When did you purchase your home? Date of Purchase —/ Purchase Price ' - Did you purchase your property from a bank, as a foreclosure or short sale? Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. Have you had a recent appraisal for refinancing, purchase-2r a market analysis by a r�al estate agent completed within the last year? Ye If so, what was the determination of value? What do you think the market value of your property should be? Please provide any documentation supporting your claim of overvaluation or erroneous classification with this application. In order to appeal your valuation an aAAointment to view thQ p%perty will be required. Comparative Market Analysis F my,Apr119,2010 Summary of Comparable Listings Thls page summarlaw the comparable listings contained In this market analysis. Sold Listings Address Price ®de Oth TFSF $15q Built Styes Said Data DOM CDOM S= 5312 Howe Lane $50,000 3 1 958 $52 1959 ONEST 06/19/2009 27 27 5013 887h Avenue $83,500 3 3 2496 $33 1959 ONEST 11/10/2009 23 23 $312 63Rd Avenue $98,000 3 2 1533 $64 1959 ONEST 10/0212009 j 9 a 5224 857h Avenue $70,600 3 1 968 $74 1966 ONEST 07/15/2009 7 125 5200 Howe Lane $74,900 4 2 1468 $38 1959 ONEST 10/1412009 2 8331 Unity Avenue 5801000 2 1 1231 SW 1958 ONEST 1211412009 30 30 6418 Quail Avenue $76,000 3 2 1576 $48 1968 ONEST 10/09/2009 14 141 5101 66Th Avenue $101,195 3 1 1437 $70 1959 ONEST 08/14/2009 16 16 4812 Howe lane $69,200 2 1 1022 S88 1959 ONEST 06/11/2000 51 51 6316 Quail Avenue $84,000 4 2 1200 887 1938 ONEST 07/30/2009 i 11 11 6430 Unity Avenue $95,D00 3 1 2294 841 1958 ONEST 0713012009 1 134 134 5201 Eleanor Lane $79,900 4 3 1948 $41 1958 ONEST 10102/2009 85 85 5206 63Rd Avenue $107,000 3 2 1513 $71 4958 ONEST 1213112009 28 196 5206 Paul Drive $05,000 4 2 1704 S08 1958 ONEST 05/18/2009 17 122 5308 Howe Lane $98,D00 4 2 17013 568 11959 ONEST 08/19/2009 117 377 5219 66Th Avenue $98,700 3 2 1827 $86 1959 ONEST 07/31/2009 14 14 5130 68Th Avenue $104,200 3 1 1138 $92 1959 ONEST 12/11/2009 i 8 B 6413 Regent Avenue $98,000 3 2 2038 $47 1958 ONEST 03/13/2009 33 388 $419 Quail Avenue $100,000 2 1 2018 $50 1958 ONEST 06119/2009 I 4 4 5016 667h Avenue $102,000 4 2 1708 $80 1959 ONEST 05/20/2009 4 552 5205 667h Avenue $100,001 3 2 1222 $82 1959 ONEST 03/09/201 D I 26 26 61261887h Avenue $60,000 4 2 1760 $28 1959 ONEST 08/03/2009 6 6 5325 Eleanor Lane $140,000 2 2 1641 $86 1968 ONEST 02/03/2010 26 200 5200 86Th Avenue 5121,000 3 1 1200 $101 1959 ONEST 01/0712010 20 20 5200 Howe Lane $141,000 4 2 1900 $74 1959 ONEST 03/1112010 8 8 5101 657h Avenue $137,000 4 1 1481 $94 1959 ONE87 01/291201D I 127 127 4812 667h Avenue $147,000 3 2 2048 $72 1958 ONEST 0913012009 77 238 0416 Quail Avenue $182,700 4 2 1723 $44 1958 ONEST 03/1812010 70 70 8306 647h Avenue $184,000 4 2 1920 $05 1958 ONEST 09/24/2009 G 140 182 Averages: ;10011190 3.2 1.7 1019 $05 9969 38 113 Median of Comparable Listings: $98,000 Average of Comparable Listings: $100,590 On Average,the'Sold'status comparable listings sold in 38.38 days for$I M,690 i Rpr 09 2010 1 : 08PM HP LRSERJET FAX p• 1 CEL Monton, LLC Profit & Loss 8801 UNITY Jan Dec DS Ordlnsry IncometExpense Income 4100'-Rental Income 11,730,00 4200-Fee Income 4220•Late Fee Income 40.00 Total 4100-Fee Income 40.00 Total Income 11,790.00 Expense 6100•Insumnce 6110-Properly Ineuranee 578.84 Total 5100•Insurance 575.64 6200-Internet Expense 5220 -Loan Interest 5,815.49 Total 8200•Interest Expense 5,815,49 5200•Tsxes 6230-Properly Tastes 2,733.50 Total 8200-Taxes 2,733,50 Total Expense 9,127.83 Net Ordinary Income 2,862.37 Net Income 2,882.57 Page 1 Review Of 6601 Unity Ave N PID#33 119 2113 0077 For Cel Monton LLC 2010 Board of Appeal and Equalization City of Brooklyn Center A Millennium Community T0: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID#33-119-21-13-0077 Cel Monton LLC 6601 Unity Ave N. Brooklyn Center, MN 55429 A representative of Edlich Realty contacted the 2010 Local Board of Appeal and Equalization regarding the 2010 estimated market value of the property located at 6601 Unity Avenue North by telephone on April 8, 2010. This property has a 2010 estimated market value of$132,800. The board directed Mr. Edlich to schedule an appointment for an interior review with the Assessor's office. A review of the property was scheduled on April 21, 2010 with an appraiser from the Assessor's office. The property is a 958 sq. ft. rambler with a one car detached garage in average condition. The Main level includes a living room, kitchen, three bedrooms, and one full bathroom. The main level kitchen has original cu boards with newer replacement Formica countertops. The main p P floor full bath has original ceramic in average condition. The basement finished area includes one bedroom with legal egress, a family room, and one additional room, and encompasses 75% of the total basement square footage. The basement finish is considered very good with sheetrock walls, sprayed ceilings with recessed lighting, and carpeting. The property has a gas forced air furnace and central air conditioning. The property was assumed during the last quintile review. After reviewing the property, changes were made in physical characteristics by adding a basement bedroom and egress window, removing a flat charge on a shed, and reducing the quality of the two bathrooms. After reflecting the characteristic changes the property calculated an estimated market value of$126,700. Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was provided to the council in the initial appeal packet from the owner. Three actual documents were provided to the Assessor's office with actual rent figures of$1,250, $1,200 and a total 2009 annual income of$11,750. Due to discrepancies in the numbers, the average market rent of$1,300 for a typical four bedroom home was used as 2009 rent. Additional comments indicated rents were decreasing as owners renew yearly leases. The subject property was purchased on July 3, 2008, and the rental license was issued September 9, 2008. It is assumed that the original lease amount may not be in effect. 6301 Shingle Creek Parkway Recreation and Community Center Phone& TDD Number Brooklyn Center, MN 55430-2199 (763) 569-3400 City Hall & TDD Number(763) 569-3300 FAX(763) 569-3434 FAX(763) 569-3494 www.cityolbrooklyncenter.org In discussion with the Assessor Mr. Wahl indicated that the tenants were responsible for all utilities, maintaining the yard, and snow removal. Due to the lack of itemization of typical operating expenses, the owner's documentation was reviewed, but not felt reliable for use in calculating the income approach. As the majority of single family residential properties in Brooklyn Center are owner occupied, more weight is given to the sales comparable approach rather than the income approach. A market derived income approach of a single family four bedroom rental property has been included with this report, Mr. Edlich provided a comparative market analysis listing of comparable homes in Brooklyn Center with the initial appeal application for the subject property. A copy of this list was included with this report, as rejection codes and open market sales were noted. The comparative listing provided indicated four open market sales within the sale study period. The open market sales were; 6419 Quail Ave N. —Sold 6/19/2009 for$100,000. This property sold within 4 days for $20,100 more than the list price. After verification of the sale,the sellers stated that the owner's family wanted the property sold immediately. This property while open market, is non-typical of open market transactions. The other open market sales are 4912 66th Ave N., - Sold 09/30/2009 for$147,000 and 5308 64th Ave N., -09/24/2009 Sold$164,000. All other sales listed were rejected for the state sales ratio study, or did not fit within the sales date range. This gives a sales range average, of the "typical" open market of$147,000 to $164,000. The enclosed grid completed by the Assessor's office compares the subject property to three similar homes in Brooklyn Center. While the subject property is smaller than the average 1,000 sq. ft. home, adjustments were made to all comparables for size, quality, amenities, etc. Comparable number two required the least amount of adjustments to be similar to the subject property. The subject property adjusted value of$126,267, does not include an additional $500 flat charge for the egress window. The total calculated estimated market value of the property for comparison is $126,700. The enclosed comparable sales grid indicates a range of value for the subject property from $122,802 to $132,425. It is the Assessor's recommendation to reduce the 2010 estimated market value of$132,800 to $126,700, for taxes payable in 2011. Respectfully submitted, f Nancy Wojcik,SAMA City Assessor SUBJECT PROPERTY 6601 Unity Ave N Cel Monton LLC PID# 33-119-21-13-0077 ",, G Land Characteristics Land Area 9,525 sq. ft. Building Characteristics Style: Rambler 958 sq. ft. Main Level Room Count: 5 / 3/ 1 Full Bath Below Grade Room Count: 3 / 1 / 1 Full Bath Garage: 1 Car Detached Fireplace: 0 Porches/Decks/Misc. : Egress Central Air Conditioning: CAC Report Name: Images City of Brooklyn Center Printed: 04/28/2010 PID: 33-119-21-13-0077 Page: 1 Property Images `La,✓ s� z �l d x W' 'I I LOGIS - Property Data System - City of Brooktyn Center <Fites on HC Server> <C:Trogrdm FitesXLogisXPDS cs> Property ID House#."' - Street tame Unit : 1 Photo(s)on file Today's date: 04!13!2010 1 Sketch(es)on file Release; 1,07.041 33119 21 13 0077 Address: b01 U,nitaA a F# � r Special Assessment Comments on file Logged on user: KCASTO fAssessincr-Karen Casto WDS 1 of 7 Parcel Status:ACTIVE �' 1 Parcel Search 2 dear 3 Print 4 View Photo C-7, Parcel Administration ] .� ParGellnforma#ron Lit CAMA Inquiry Assessor Comments Parcel pivisiornng Assessment Year: =;?i31B ManualA,saesstnet►t ' r- ManwdLalnd, Temporary PID Updat t " ' $uildi wig sand [Summary, Assessor Project Upd&'. Assessor Inquiry Dwelling Type .» .. QuaGtt le Ile Taxpayer Inquy ,Family �" B07 pne Levell�iambter'. .." E? aluesAd[runistiat iort w. T.okaIGBA. Age -�, Values Information KE"pin County Trarr, Basic Rater $5Q 21 HOmstead Update d Adjusted Rate: ".. . E 1 .�> Ext W1 ,411 0© Shape Last ppiaised Year l t. I A+N Update ' Ack Rate"GBA: X8,101 ---> Add Basement �$9,5w = l ' ' S.gFt @ $10,OQ` Tax Capacities UpdaG Qed.Urif.GBA: - Q,S t �.QO Vakootice File x A usleci Tvt� $ 1�6g1 $ Administration . LD Property Characteriskres Land k,Y5 r r r Add iueAmount W —> Gera $;r,t195 pcxmer $tI P atkipoors: $0 ! Inspections Fiesudential Walkout . $0 Air Cond $1,916 pecks: $Il Commercial/Induskri� Piros $0 Porches Pools: $p MuN.Family � . Fard Print Baths1 ; Fireplaces � p - Fin.Bsmt $91,�7 C:1 "AMA Toth Cosh ,` h1 Kitchen; $Q Market Value f3esider � usmenis Q Doprtjor► 7:4" #nflueras*�, O.tl ' , Market Value Gommer Market Value Multi.F4 mrG O.t3 Fund► ale Q E cono Nate Tables Land Rate Tble as Resider BurtdxigValue; $k5a AD LAMA Blip Mkt Value CAMA-Land LAMA Residential Flatlues: $,�i1[t Lard Mkt Value: X47 C11€I M Audss rent"Proiects ni,tAsPtcmentc i Tote!Mkt.1!alue: $13 ... LOGIS - Property Data System - City of Brooklyn Center <FitesonBC Server> <C:Wrogram 1FiIesXLogjsXPDS Property ID ' Howe# treet,t+iame llriitr 4 Photp(s)on file Today's date:04l23I�010 1 Sketches)an file Release: 1.07.041 X31;19 21 130077 Address: 66p Unity Aye Special Assessment Comments on file Logged on user:KCASTO 3 of T . . -1�Parcel Search Clear 3 Print 4Viev Photos f Assessina-Karen Casto f PDS Parcel Status: ACTIVE 8 'Par el Admulwstt�trdn � P CAMA Inquiry arcellnf Pima tan Assessor ta-maents Parcel Diviswtung Assessment Year 2010_. ° Maw- A, M anua l andk T emporary PID 0 pdak Assessor Project Updry Building Land, . :Summary Assessorinquuy y ,...+ Tax a er l us Qinrellin9 Type S to fam�l Quality: Style p.y .S' 07 One +iel�'Rarnbler G1 ValuesAdm�rustratsan � ' TotaI,GBA 958 Age: Zoning: Ft1 Values 141 3trn f tat ty Tray Basic Henne r►Co bake TUi i � „ $ " Homestead Update Adjusted R 7> t`xt.',afa8": 0.0.. Shape%: 0.0 Las Appraised Yeas g 3. 950 S t °... LM Updafa Aci.:Rate"GBA $4>3�101'' Add Basement:- . 4F C�? $10.x' Tax Capagtm.Updat+ ped Unt faBA > m Sq O $30.00 Ft Value Notrce F'� S ales Admmstratrs Austtd T $ # 8-1-a Property Ch",aracter , 7i? Land , , Additi± Amost $ 99 eras Derrrm�rs. 1 Doom . Insane a , TB {�e�eks: $0 R esrd � out $ Air Cand $1 Cammerta� induskrr p Patrcrs $0 Pool $0 O $0 MuikhF `— � r Field Card#�ruEh r $T Feplaees Rm l3smt; $9,9T5 AN CD LAMA Tca1 - 58 : $B7 N Mkn: $$tl Ma',ket Val esidsr A u '' �` dl std ( epreatr :1gflonces f; Markekeamei , . ; M rkeV N Functional a Economic F a. slue M+ kr Fa 0 Rate Tables , Rats Tatalee xskler Builder' LAMA 61dg Mkllue $ LAMA L� , FIaC11lu Q ..., CAMA`" Ftesrd ntrel f; land Mkt 'lfgoe $47 0p Assessment Pralec#s r Taal Mkt. ale $12B 7D0 r=t 7 SnPrjAlAc rite MIR City of Brooklyn Center PID: 33-119-21-13-0077, Property Type: R-Residential Value Info: Residential Field Card Property Address: 6601 Unity Ave N Zoning: R1 Year/Version: 2010/ 1 Printed: 04/23/2010 Lot/Block: 037/001 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Donnays Brook Lyn Gardens 4th Addition Owner(s): Cel Monton LLC Bldg: 85,800 Version: 1 District: Total: 132,800 Neighborhood: 0053 W { t Model Q�raje#f1 Area(SgFt): 950 Kitchen Rtg: Standard Interior: Interior: Res.Cond: Average Placement: Detached Type: Regular Interior: Sheetrock Trim: Trim: Dwell Type: Single Family #of Cars: 1 Finished(%): 75 Trim: Softwood Floor: Floor: Int. Layout: Standard Floor Area: 468 Quality: Very Good Floor: Wood Avg.Clear.Height: Avg.Clear.Height: Adjacent Property: Negative Condition: Average #of Fireplaces: Avg.Clear.Height: #of Fireplaces: #of Fireplaces: Manual Assess: N Exterior Walls: Wood Fplc.Quality: #of Fireplaces: Fplc.Quality: Fplc.Quality: View: Equal Avg.Clear.Height: Fplc.Quality: Actual Age: 1959 Elec.Svc: Standard Arch./Appeal: Average Htg: Forced air,gas fired Effective Age: 1980 #lo 3 Walkout Quality: B07 ment Walkout Quality: � 4� IIty t d`R 1rJ� •{#/ [�8{fty) 3rd I�atJ1*��#pyali>j/).'s Renovated Age: Cars: Spa: / Spa: / Spa: / Shape: Square Floor Area: Dix: / Dix: / Dix: / Functional%: Condition: Full: 1 / Average Full: / Full: / Style: One Level/Rambler Exterior Walls: 3/4: / 3/4: / 3/4: / Economic%: 1/2: / 1/2: / 1/2: / Construction: Wood Frame y � Q Uipa: Glazed n Ca Unfin t AGBA: Exterior Walls: Wood D rd R Quality: Full: 1 / Average Bedrooms. 3 Bedrooms. Bedrooms: Unfin.2nd GBA: Exterior Trim: Screened Area: 3/4: / Baths: 1 Baths: Baths: Unfin.3rd GBA: Quality: 1/2: / Family: Other: Other: Unfin.Total GBA: Open Area: Living: 1 Total Rooms: Total Rooms: Roof Type: Hip 9� Quality: Dining: 1 st Floor Area: 958 Kitchen: 1 2nd Floor Area: Roof Cover: Shingles Bedrooms: 1 Other: 3rd Floor Area: Window Type 1:Double Hung Baths: 1 Total Rooms: 5 Total GBA: 958 Patio 1 Area: Family: 1 Patio 2 Area: Other:en: 1 value: Window Type 2: Quality: e: 500 Air Conditioning: Central Quality: Total Rooms: 3 Desc: EGRESS Dormer Length: a r 3 Bedrooms: 4 Baths: 2 Dormer Quality: Deck 1 Area: Family: 1 i 18 A Date: 07/03/2008 Appraiser ID: Appraiser ID. Quality: Living: 1 Deck 2 Area: Price: $84,000 Appraisal Date: 04/21/2010 Patio Doors: Code: 15 Reason: Board of Review Appraisal Date: Dining: 0 Quality: Kitchen: 1 Desc: Forced Sale Result: Interior Other' 1 Last Interior Inspection: 04/2112010 Reason: Total: 8 Pool 1 Area: Result Quality: Left Tag: Yes/No Pool 2 Area: Quality: iif�s � . . �. _ _ F=GE 5 X 8 SHED(BRICK&WOOD)ON SLAB'NV MF SOFFITSIFASCIA BRINKS SECURITY CT BATH AND KITCHEN � Itt ufi . ..,"Qho Egress=FC No responsetassumed 2007 10 Asmt Appeal Bsmt has sprayed ceiling,sheetrock, recessed lighting and carpet. Interior is in average condition. Kitchen has original cupboards. City of Brooklyn Center PID: 33-119-21-13-0077 Property Type: R-Residential Value Info: ` Residential Field Card Property Address: 6601 Unity Ave N Zoning: R1 Year/Version: 2010/ 1 Printed: 04/2312010 Lot/Block: 037/001 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Donnays Brook Lyn Gardens 4th Addition Owner(s): Cel Monton LLC Bldg: 85,800 Version: 1 District: Total: 132,800 Neighborhood: 0053 Atbutes lnfl.�?a X00 n e Land Type: Standard Lot Frontage: 75 Park: Curbs I-engthl WJdtfi , �F Land Quality: B05-Land Left Side: 127 Park Quality: Gas 38 25 950 Area Rating: Very Good Rear Side: 75 On Lake: Paved Street 1 8 8 Site Rating: Good Right Side: 127 Lake Quality: Sewer Available 0 0 0 Zoning. R1 Effective Width: 75 On River: Water Available 0 0 0 Contamination: Effective Depth: 127 River Quality: 0 0 0 Flood Plain Map Ref: Effective Water: Landscape Quality: Average 0 0 0 PUD Ref: Property Area(SgFt): 9,525 0 0 0 Allowable Units: Acreage: Not Buildable: N Excess Land(SgFt): Adjacent Owner: N Usable SgFt: Flood Plain: N Flat Desc: Zoning Variance: N Flat Amount: Manual Land: N 38' i i h a Basement r 1W ®50' I 38' N Garage cw 468' 3D° 18 N First Floor 38 Sketch by Apex IV"" Report Name: City of Brooklyn Center Printed: 04/28/2010 Sales Comps Details Sales Comps Details Page: 1 Item Subjec Comul ComP2 ComV3 PID 3311921130077 0311821210041 0311821110103 3411921230040 Address 6601 Unity Ave N 5843 Pearson Dr 5906 Zenith Ave N 4407 66th Ave N District Sale Price $84,000 $135,000 $130,000 $130,000 Sale Date 07/03/2008 09/30/2009 08/07/2009 05/27/2009 Cash Equivalent $130,950 Price Per Sq.Ft. $87.68 $130.95 $133.20 $130.00 Dwelling Type Single Family Single Family Single Family Single Family Style One Level/Rambler One Level/Rambler One Level/Rambler One Level/Rambler Property Area 9,525 9,825 10,125 10,103 Actual Age 1959 1955 1955 1958 Effective Age 1980 1980 1980 1980 Quality Class B07 B07 B07 B07 1st Floor Area 958 1,000 976 1,000 Total GBA 958 1,000 976 1,000 Finished Area 1,671 1,750 1,806 1,500 Basement Area 950 1,000 976 1,000 Basement Finished(%) 75% 75% 85% 50% Total Bedrooms 4 5 3 2 Total Bathrooms 2 2 2 2 Garage 1 Floor Area 468 483 440 440 Garage 1#of Cars 1 2 2 2 Garage 1 Placement Detached Attached Detached Detached Total#of Cars 1 2 2 2 Walkout Type Standard Walkout Air Conditioning Central Central Central Central Pool Area-Total Fireplaces Deck Area-Total Porches 220 River Lake Influences Sq.Ft.Adj $43,532 ($1,718) ($738) ($1,718) Add Bsmt Adj $8,598 ($452) ($235) ($452) Ded Unfin GBA Adj Site Adj $47,000 Garage Adj $6,421 ($394) $329 $329 Walkout Adj ($5,883) Patio Adj ($130) ($122) Bath Adj $9,955 $905 ($1,810) $905 Air Conditioning Adj $1,734 Porch Adj ($1,593) Fireplace Adj Deck Adj Fin Bsmt Adj $9,027 ($476) $2,270 $4,954 Misc.Adj Total Adj $126,267 ($8,148) ($306) $2,425 Market Adj Value $122,802 $129,694 $132,425 d i Park -k N t a iltaw 1 t� � 4r+ a x %.M'LnN PM z I Z Z m 7 > 4ft AW N ..._. lS9m Aw N 6W Ave N "6N kvo N w v+cwY Ttn Aw k S2 Aw N th Avo schuul ' PaIlt w + Camp 3 vv N ,y trr Ln g s7 n 641h Ave N � y KSih Avs N _ PkStlt Aver Oft t4 z � r ieanur In t1u i tt 4t Ppa 64*Ave at g '� lk rw^w N lk d Am*N uj �C X&V4 Aa►a s3rc Aw M y itrdikn Q�t x 'n 8 c P "2V1.hF T i15 � '� ►d( x LA 6 Ave N d'tiu Ave N -,- Kylawn Pack am Ave N { 4 310 W0H P arit Camp 2 z Comp 1 1 CIS A"N - ADEN ; x IAjpM to 3"Awl N 7A�+A"N i' i � �►"Dr � Piwk w Lions 6 r; e+irtc z 2010° E 2071&v+ A I* b COMPARABLE SALES MAR COMPARABLE #1 5843 Pearson ©r COMPARABLE #2 5906 Zenith Ave N COMPARABLE #3 440766 Ih Ave N Report Name: SalesInformation City of Brooklyn Center Printed: 04/28/2010 - Sales Information Report Page: 1 33-119-21-13-0077-6601 Unity Ave N Sale Date Sale Price Cash Equiv Sale Tyne Sale Ratio Comments AL YL V.er w Yr Qy_.Ytr- 07/03/2008 $84,000 $0 01-Warranty Deed 15-Forced Sale 2009 1 0 0 11/30/2005 $210,000 $0 01-Warranty Deed 00-Good Sale 2006 1 0 0 04/06/2005 $181,500 $0 01-Warranty Deed 00-Good Sale 2006 1 0 0 08/01/1998 $82,600 $0 11-Other 00-Good Sale 2005 1 0 0 12/01/1991 $66,900 $0 11-Other 00-Good Sale P=339 2005 1 0 0 12/01/1985 $62,000 $0 11-Other 99-Conversion-X Sales FAMILY SALE 2005 1 0 0 I I II Report Name: Permit List City Of Brooklyn Center Printed: 04/08/2010- ' Permit List Page: I Permit List for: 6601 UNITY AVE N Per i # IWA Value Permit Tyne Sub Type Work Tvoe Description Cancelled Issued Date Final Date Dead Date Exuiration Date Refund Date BCO29383 $700 Electrical Residential 1&2 Famil, Remodel/Alteration CHANGE OUT 02/13/2006 03/03/2006 SERVICE PANEL Permit Count: 1 i CITY OF BROOKLYN CENTER LICENSE INFORMATION PID: 3311921130077 i License Information: License Number: 01004173 License Status: A License Type: Rental License Location: Business Applicant: Company: Douglas Allen Wahl Business Address: 1845 Stinson Parkway NE, Business City: Minneapolis Business State: MN Business Zip: 55418 Telephone: 6127828888 Assigned Dates: Applied: 7/25/2008 Inspected: 8/12/2008 wi_Council: 9/8/2008 Issued: 9/9/2008 Expiration: 7/31/2010 2010 INCOME APPROACH ANALYSIS Single_Family Residential Rental YEAR OF CONSTRUCTION: 1959 PI D: 33-119-21-13-0077 Owner(s) Cel Monton LLC 6601 Unity Ave N Brooklyn Center, MN ACTUAL MARKET Unit Type #Bedrooms RENT RENT 0 STUDIOS $0 $0 0 1 BEDROOMS $0 $0 0 2 BEDROOMS $0 $0 0 3 BEDROOMS $0 $0 1 4 BEDROOMS $1,250 $1,300 1 Garages $0 $35 Garage stalls included in rent MONTHLY ADJ. RENT $1,335 TOTAL ANNUAL ADJ. RENT $16,020 GROSS BUILDING AREA 958_ LAND AREA 9,525 CAPITALIZATION PROCESS MARKET POTENTIAL GROSS RENT(PGI) $16,020 LESS: VACANCY&COLLECTION LOSS % OF PGI -2.00% ($320) OTHER MISC INCOME 1.00% $160 (Application Fees&Late Fees) EFFECTIVE GROSS INCOME. $15,860 LESS: ANNUAL EXPENSES: % OF PGI Insurance -4.50% ($721) Rental License -3.00% ($481) Maintenance&Cleaning -5.00% ($801) Reserves for Repairs -2.00% ($320) TOTAL ALLOWANCE -14.50% ($2,003) ANNUAL NET INCOME $11,534 RETURN ON &OF PERSONAL PROPERTY $1,500 HOUSEHOLD @ 12% ($180) NET INCOME TO REAL PROPERTY $11,354 CAPITALIZATION: CAPIITALIZATION RATE 6.00% EFFECTIVE TAX RATE AVERAGE 1.66% * OVERALL CAP RATE 7.66% 7.66% 2010 CAPITALIZED VALUE OF PROPERTY $148,230 For Ad Valorum Tax Calculations, property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation. Monthly rent does not include utilities. Tenants are responsible for paying water, gas, electric, garbage, maintaining lawn and snow removal. Comparative Market Analysis Fr ay,April 9, 2010 I Summary of Comparable Listings 1 y sis. This page summarizes the comparable listings contained In this market anal i Sold Listings Built Style said Date DOM CDOM Address Price Bde Bth TFOF $13q S= 5312 Howe Lane / $50,000 3 1 958 $52 1959 ONEST 06/1912009 27 27 5013 68Th Avenue i $83,500 3 3 2,490 $33 1959 ONEST 11/10/2009 23 23 $312 63Rd Avenue / $98,000 3 2 1533 $e4 1969 ONEST 10/02/2009 j 9 9 5224 657h Avenue i- $70,600 3 . 1 968 $74 1968 ONEST 07/15/2009 7 125 5200 Howe Lane 1� $74,800 4 2 1968 $38 1969 ONEST 10/14/2008 2 9331 nit Avenue s $40,000 2 1 1231 $85 1958 ONEST 12114/2008 30 30 U y / 6418 Quail Avenue t $76,000 3 2 1576 $48 1958 ONEST 10/09/2009 14 141 510166Th Avenue 1S $101,195 3 1 1437 $70 1959 ONEST 08/1412009 51 16 4812 Howe Lane 0 3 $89,200 2 1 1022 See 1959 ONEST 06/11/2009 61 61 6318 Quail Avenue 7 $84,000 4 2 1260 $87 1958 ONEST 07/30/2009 i 11 11 6430 Unity Avenue !S $95,000 3 1 2294 $41 1958 ONEST 0713012009 1 134 134 5201 Eleanor Lane (S $79,900 4 3 1948 $41 1958 ONEST 10/0212009 85 85 5208 83Rd Avenue 5107,000 3 2 1513 $71 1958 ONEST 12/31/2009 28 196 5208 Paul Drive 0 3 . $95,000 4 2 1704 $Be 1958 ONEST 05/18/2009 17 122 5308 Howe Lena ,1 $9$,000 4 2 1755 $58 1959 ONEST 08/19/2009 i 117 377 6219 66Th Avenue $98,700 3 2 1627 $86 1999 ONEST 07/31/2009 I 14 14 5130 86Th Avenue I S $104,200 3 1 1138 $92 1959 ONI+ST 1 211 112 00 9 i B B 6413 Regent Avenue i,,5- $98,000 3 2 2038 $47 1958 ONEST 03/13/2009 33 388 6419 Quail Avenue &0 $100,000 2 1 2016 $50 1958 ONEST 00!19/2009 4 4 5016 66Th Avenue 1 S $102,D00 4 2 17013 $80 1959 ONEST 05/20/2008 4 552 5206 667h Avenue - Q3 $100,001 3 2 1222 $82 1969 ONEST 03/09/2010 I 26 26 5125 887h Avenue ;S $50,000 4 2 1760 $28 1969 ONEST 08/03/2009 6 6 5325 Eleanor Lane $/s' $140,000 2 2 1641 $86 1968 ONEST Ot/03/2010 28 200 5200 887h Avenue o a $121,000 3 1 1200 $101 1959 ONEST 01/0712010 20 20 141,000 4 2 1900 $74 1959 ONEST 03/11120 I D 8 8 5200 Howe Lane .�$ 5101 86Th Avenue , 137 000 4 1 1481 $94 1959 ONEST 01/291,2010 127 127 uv $ 77 239 4812 667h Avenue $147,000 3 2 2048 $72 . 1958 ONEST 09/30f2009 Ob ' 6418 Quell Avenue_aU $182,700 4 2 1723 684 1858 ONEST 03/i8/2010 1 70 70 5306 64Th Avenue (,+o Yy,,, $164,000 4 2 1920 . $85 1958 ONEST 09/24/2009 ; 140 182 Averages: 1100,890 3.7 1.7 1919 $65 1969 38 113 Median of Comparable Listings: $98,000 Average of Comparable Llstings: $100,890 On Average,the'Sold'status comparable listings.sold in 38.38 days for$100,890 . i Ile f1 Pr%cf in Y c�Ryr NCN-TylfJ �J � Rpr 0.9 2010 1 : OOPM HP LRSERJET FRX p• 1 r CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19,2010 through April 9, 2010 You must return this application by April S. 2010, to be placed on the Agenda for the Local Board of Appeal and Equalization held April 19, 2010 at 7:00 P.M. Name(s) Daytime Contact Number: (�/�� - `�� 2 - Property Address /p41 �& Ilfv Property Identification Number ..64, CC'? -7 Assessor's 2010 Estimated Market Value °a Is your property residential, commercial or mufti-family? � If you are appealing a commercial, multi-family or residential rental property you must include inoome and expense data for calendar year 2009 with your application. What is the reason you are appealing your 2010 assessment? Gil 1s : c y p�►,y,�, c,�X& 97, IW),44,4.47 Le -/& 2_e, r,> 1,?6n'%kj /-?wo-r/200 Whearc cr fr l'G �i e-Gt.7 f7JrA/ n did you purchase your home? Date of Purchase Purchase Price l�C � Did you purchase your property from a bank, as a foreclosure or short sale? Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. �J Have you had a recent appraisal for refinancing, purchas market analysis by a real estate agent completed within the last year? Yes orC If so, what was the determination of value? - Moti e, i/4r/V1r r IfSk I-�.. 144 . ,�' 4►, t ;4,4-.IA.I. � c. What do you think the market value of your property should be? � �- Please provide any documentation supporting your claim of overvaluation or erroneous classification with this application. In order to appeal your valuation an a�VOintment to view the property w111 be required. Rpr 09 2010 1 : OOPM HP LRSERJET FRX p• 2 Comparative Market Analysis Friday.April 9.2010 Summary of Comparable Listings This page summarize the comparable ilstzngs contained In this market analysis. Sold Uetines Address Price We 10 TFSF $Xq SuBt JtYls Sold Dab DOM ODOM S■ 8012 June Avenue 3 $48,000 3 2 1492 $31 1956 ONEST 041172009 20 20 8012 Pearson Drive t5 $55,100 3 2 1620 Jae 1955 ONEST 08/00/2009 48 307 3824 61 81 Avenue 1S $85,000 3 2 1,512 J43 1955 ONEST 04272009 7 121 5901 Halifax Avenue: 5 $53,000 3 2 1100 $57 1955 ONEST 03/182009 7 173 4201 Janet Lane 1-5- $107,500 3 2 1964 $54 1958 ONEST 012312009 7 370 5916 Halifax Place-3 $91,000 3 1 1040 $83 1955 ONEST 0820/2009 13 13 6025 Brooklyn Boulevard 15 $74,900 3 2 1780 $42 1955 ONEST 12/3112009 46 46 4007 Joyce Lane (z) $98,000 3 2 1708 511% 1960 ONEST 00/01/2009 7 188 4018 62Nd Avenue 1j $76,800 3 2 1926 $40 1960 ONEST 03120/2009 35 35 6000 June Avenue i.:) $8811500 3 1 1050 $82 1957 ONEST 04117/2009 40 40 3412 02Nd Avenue(5- $87,000 3 2 1206 $72 1958 ONEST 01112/2010 82 264 3812 62Nd Avenue 1,5- $62,500 3 2 1080 855 1950 ONEST 03/0242009 28 28 5013 Pearson Ddn-3 J' $126,000 3 2 1840 880 1955 ONEST 06/012009 10 168 6142 Brooklyn Boulevard h $95,000 3 2 2580 837 1955 ONEST 07102!2009 7 184 3813 02Nd Avenue i�- $90,000 3 2 183E $49 1980 ONEST 08/21/2009 26 26 5805 Pearson Drive 15' $93,000 3 2 2332 $40 1955 ONLST 0728/2009 83 83 5913 Admiral Lane 1 $90,900 2 2 1840 $53 1055 ON6ST 02/182010 7 74 $105,000 3 2 1502 $68 1965 FOURM .96d4i0111"s 9 503 6118 Kyle Avenue&ee ia:O-F- thL-5 $114,500 2 2 1$00 $81 1958 ONEST 03/232010 146 146 5813 Halifax Avenue Zl.v $128,900 3 1 1360 $95 1955 ONEST 11/17/2009 20 20 $140.500 3 2 2027 $89 1656 ONEST fiW"241i. 17 147 .3fi=Say=:aNa'=n :134,000 3 2 .1360 =7 1961 ONEST 91169"Galilm 17 17 $135.000 3 2 2090 $86 1966 ONEST .990891J999w 44 44 5135,000 3 2 1706 $79 1955 ONEST ^"�n..,..,�Mme+ 110 110 $137,000 2 2 1594 Me 1955 ONEST J2ilS9/SOOa. 38 38 $150,000 3 2 1244 $121 1951 ONEST WON Mies- 63 264 $160,400 3 2 1516 $106 1956 ONEST Aligd.Z099+ 15 115 3518 Boas Lake Road z-e $125,500 3 2 1910 $08 1955 ONEST 08/31/2006 19 19 Averages: $103,891 2.9 1.9 1672 $66 19" 34 124 Medlan of Comparable Listings: $07,450 Average of Comparable Listings: $103'"3 On Average,the'Soli'mWus comparable listings*old in 34.29 days for$103,893 Apr 08 2010 1 :OOPM HP LRSERJET FAX p. 3 9,24 AM CEL Mcnton, LLC D4109110 Profit & Lose ceeh Basis 6413 June Jsn-Doe 09 Ordinary Income/Expense Income 4100-Rsnfal Inaorne 8,375.00 Total incorne 8,37a.00 Expense 3100•insuranoe 5110 property Insurance 255.71 6100•Insurance-Other 253.71) Total 6100-Insurance 522.41 3200-Interest Expense 6120 -Loan Interest 714.45 Total 5200-Interest Expense 714.45 6300-Repairs 6310-Building Repair 123.60 6300-Repairs-Other 5,574.97 Total 0300•Repairs 5.698.47 6400•llt0ldes 5410-060 280.40 5420•water 185.81 5430 -ElecWc 81.22 5400-Utilities-Other 142.04 Total$400-Utl6tles 889.47 6000-MATERIALS 2,939.66 4200,Tax" 6230-Property Texas 2,124.16 Total 4100•Taxes 2,124.16 4500•Professional Few 300.00 7010-Bank Service ChsW 4.00 7040-Llosness and Permits 1,800.00 7060-Property Maintenance 522.30 7054.L"as Bones 200.00 Total Expense 15,522.01 Net Ordinary Incorns -7,147.01 Net Income .7,147.01 Pape 1 Review Of 6413 June Ave N PID#34 119 2132 0097 For Cel Monton LLC 2010 Board of Appeal and Equalization z s a �y x r / v .: "G r re6 3 fl3 / City of Brooklyn Center A Millennium Community TO: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID#34-119-21-32-0097 Cel Monton LLC 6413 June Ave N. Brooklyn Center, MN 55429 A representative of Edlich Realty contacted the 2010 Local Board of Appeal and Equalization regarding the 2010 estimated market value of the property located at 6413 June Ave N. by telephone on April 8, 2010. This property has a 2010 estimated market value of$129,200 with an improvement of$5,000. The board directed Mr. Edlich to schedule an appointment for an interior review with the Assessor's office. A review of the property was scheduled on April 22, 2010 with an appraiser from the Assessor's office. The subject property is a 1,012 sq ft three level split property with 572 sq ft of basement area and a detached one car garage in average condition. The main level includes a living, kitchen, three bedrooms and a large updated full bath. The basement level has full daylight windows, ceramic the floor,new sheetrock ceiling with recessed lights, and sheetrock walls. This basement level family room is currently being used as a master bedroom. The basement bath is located in the unfinished laundry area and includes a stool and freestanding shower stall. The property has its original gas forced air furnace, and no air conditioning. Recent updates to the home include an updated main bath with new fixtures, ceramic tile floor and vinyl tub surround. This main bath is larger than the typical home in Brooklyn Center. Additional updates include a new sheetrock basement ceiling with recessed lighting installed. After review of the property, changes were made to physical characteristics which included the addition of a direct vent gas fireplace that had previously been omitted. After changes, the estimated market value calculates at $131,500. A $5,000 improvement was included for the 2010 assessment as an estimate of condition/quality changes based on the prior review in September, 2008, which indicated water damage, and a designation of"uninhabitable" from Housing and Community Standards. No permits were pulled to bring this home back to average condition. There was no indication of p P g g changes to the "uninhabitable" designation until we received the rental license approval in May 2009, which indicated the property should be brought back to average condition as occupancy status had been approved. Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was provided to the council in the initial appeal packet from the owner. Three actual documents were provided to the Assessor's office with actual rent figures of$1,175, $1,150 and a total 2009 annual income of$8,375. Due to 6301 Shingle Creek Parkway Recreation and Community Center Phone& TDD Number Brooklyn Center, MN 55430-2199 (763) 569-3400 City Hall & TDD Number(763) 569-3300 FAX(763) 569-3434 FAX(763) 569-3494 www.cityofbrooklyncenterorg discrepancies in the numbers, the average market rent of$1,200 for a typical three bedroom home was used as 2009 rent. Additional comments indicated rents were decreasing as owners renew yearly leases. The subject property was purchased on February 17, 2009, and the rental license was issued on May 13, 2009. It is assumed that the original lease amount is still in effect. In discussion with the Assessor Mr. Wahl indicated that the tenants were responsible for all utilities, maintaining the yard, and snow removal. Due to the lack of itemization of repairs and materials deducted for operating expenses, and the inclusion of utilities, the owner's documentation was reviewed, but not felt reliable for use in calculating the income approach. As the majority of single family residential properties in Brooklyn Center are owner occupied, more weight is given to the sales comparable approach rather than the income approach. A market derived income approach of a single family three bedroom rental property has been included with this report. Mr. Edlich provided a comparative market analysis listing of one story homes in Brooklyn Center with the initial appeal application for the subject property. A copy of the analysis was included with this report, as rejection codes and open market sales were noted. The comparative listing provided open market useable sale information for five rambler and one multi-level sale within the sale study period. The open market sales were; 6237 June Ave N., - I, Sold 5/15/2009 for$105,000, 3912 Joyce Lane—Sold 05/27/2009 for$134,000, 5843 Pearson Dr. —Sold 09/30/2009 for$135,000, 4219 Janet Lane—Sold 06/29/2009 for$137,000, 5821 Drew Ave N. —Sold 07/02/2009 for$150,000 and 5931 Halifax Ave—Sold 06/04/2009 for $160,400. All other sales listed were rejected for the state sales ratio study, or did not fit within the sales date range. This gives a sales range of open market transactions from $105,000 to $160,400. There were no open market sales of three level split properties during the 2010 assessment study period. The enclosed sales comparable detail completed by the Assessor's office compares the property to three 4-level split homes in Brooklyn Center. Comparable number two is considered to be the most comparable to the subject property in condition and amenities. The enclosed sales comparable detail indicates a range of value for the subject property from $119,615 to $138,655. It is the recommendation of the Assessor's office to increase the 2010 estimated market value on this property from $129,200 to $131,500, and retain the $5,000 improvement, for taxes payable in 2011. Respectfully submitted, Nancy Wo i , SA City Assessor SUBJECT PROPERTY 6413 June Ave N Cel Monton LLC PID# 34-119-21-32-0097 O , kMu r fit, % s c ,y 4" Pig' a Land Characteristics Land Area 10,050 sq. ft. Building Characteristics Style: Split Level 1,012 sq. ft. Main Level Room Count: 5 / 3 / 1 Full Bath Below Grade Room Count: 1 / 0 Bed / 112 Bath Garage: 1 Car Detached Fireplace: Gas Fpl Porches/Decks/Misc. : Patio Central Air Conditioning: None Report Name: Images City of Brooklyn Center Printed: 4/28/2010 PID: 34-119-21-32-0097 Page: 1 Property Images E Oilr �q yid r,. � i PW u�ll ill�lil lull�Illlil�ll'I� �,,,I,,iili llii ii', �fl III Iff If�iiprl II I 1�1I Report Name: Images City of Brooklyn Center Printed: 4/28/2010' PID: 34-119-21-32-0097 Page: 2 Property Images a i �•I I I I I I S r s Report Name: Images City Of Brooklyn Center Printed: 4/28/2010 P U 34-119-21-32-0097 7: a Property Images �\ ^ Report Natue: Taxpayer Inquiry City of Brooklyn Center Printed.4!15,;2010 Display P1 House Nb SLISAAW" Taxpayer Inquiry 34-119-21_32.0097 6413 June Ave N 55429 1 glSt ml der 'raxpave tRg`ijSn( Ce1 Manton LLC Y Y N ronlag UfthW HxarSjdj HipbtSWe ELWidth EM DjWh ogwM.Area Acregge milt Eje -cjde &bUU1 i. t Watershed r Built 75 134 75 134 75 134 10,050 0.00 R1 0279 14 1957 Year Ylr Hsubl Land Value Bldg Va jW Mach Vain lot M.lst,Yalgrt T Call Hmstd Midy RIW ffj %Ow P/C 2010 1 1 47,000 82,200 0 129,200 1,292 N N N R t) N 2009 1 1 58,900 38,900 0 97,800 978 N N N 11 0 Y 2008 1 1 61,700 110,100 0 171,800 1,718 N N N R t) Y Lot- 006 Blacks 001 Addition: Miner's Nordiview Heights .Y i • Y LOGIS -Property Data System -City of Brooklyn Center -Fites an HC Servers, <Vrogram FilesTogisIPOIS cs* Property ID ttr et'hla e trr t 12 tar s)on file Today`s fie.AIQW2410 _- terase3 I _ fie 1.ltT,Q4 ( '34-119-21-32-0097'-" 34.113-21 32-t ? 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Loud on user: 9@PEt d4 . .. tAssessina-JU Bre3rrna fP19SP 'O-gwe PiD 1 Parcel Sear 2 Clear 3 Pry 4 View Photos Parcel Status:ACTIVE + ,;,.9 P�celAdmirristr�ior► - Values Admstricm Values Inimmation 140masteadUpdate Assessment Year: 2C11Q Manual Assessmant I� Manual Land F " Last Awaited L Land � LMV Update ' Tax Capacities Updatt 1 Ste Tt3H Update Fare y to Q7, ... lSpht Le I.., +: - = Sales Adr strati r � 12 onia ge Property R 1 ' Lard Basic Rate:' r M38 Inspections edRate: $56,54 -> EA.Wall V, r 0,6 Shape X f 1,0 Resdential Adj Rate GBA: $57,623✓ Add Baserrwit, � SgFt @ tCt Commercial 1 i ie l ` Multi-Fad Ded Urd,GBA; Q SgFt @ J'$3 t1, 0 Field Cd Print . i Inspections Mass Add A*sted Total: $63,343 ` Property Mass Update Rewienw Mass Add Addlive Amount r { 1 Garage: $5,540 Dormers: � $t) Patio[doors: -:j C4MA LAMA# acts Air Cond Decks: $t► � I ` Market Value Reskier Pais: $215 Porches: $t1 Pools ' Mast Vale Cry - _ Market Value MukF4 B $11,t Firess �$3,t F Hsmt: $1tI,3 4 Rate T s,Land Total Cost: $33,423 Ktchem $C1 y ` Hate Tables•Rehr t AMA-Lard AdjuArAents X 973 ---? Depeciation X 45 l ss"1: tl COMA�R B t , ... Reports and Inquiries System R s-Pr ..w.... V .Mkt,Vacua: Local RR arts s V R Lewd Mkt,V $47.t Ad4ioc QUWY Total MkL Val: F $131, eft t lets m i !GIS -Property Data of Brooklyn rg r + 1 � ���, ,,,,, ...�. EY��';,:. i�g� ,.F�3',.,,, � ,•.� €#� �i';�?�t� 1 �J�+.iMS4.V�P1�+��� else: 1-07,9 I ESY:I: r n3 d'Cur �� ;> Parcel Statmv, T4 AC w'r CAMA�1 Inquiry :S Rf y � pdt As, 11 a F� 'T� q k .« 9''. { "., y2 E p� +fie• �« [ �vr 67 K ,+� ` der + �i� +°i +�' » tAR7 z Tm O •� r�E \ MOO fin 4 patp a z.. 41 jiliilia' R 01 Hwy' 7�N4`S`'.'' Ski. J'1,¢�� �, x•. iq k a zit, �c r"i ON Kk✓/ 2 , . z s: Jg�a $ City of Brooklyn Center PID: 34-119-21-32-007 Property Type"; R-Residential Value info: Residential Meld Gard Property Address:61413 June Ave N zoning: R1 YearNersion: 2010/ 1 Printed 4!2312090 Lot 1 Block: OW 1001 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Miller's Northview Heights Owner($): Cal Monton LLC Bldg 82,200 Version: 1 District; Tatar 129,200 Neighborhood: 0053 Exterior 1 - `.t '' � : a I ,, � '�� Pte 3rd F(c ;.. : Totals Model, Garage tl1 Area(SgFt): 572 Kitchen Rtg: Standard Interior; Interior; Res.Cond: Average Placement: Detached Type: Regular Interior, Plaster Trim; Trim; Dwell Type: Single Family #of Cars: 1 Finished 95 Trim Painted Floor: Floor: Int.Layout: Standard Floor Area 352 Quality: Very Good Floor,: Wood Avg.Clear,Height; Avg Clear.Height: Adjacent Property Equal Caen: Average #of Fireplaces; Avg,Clear,Height: #of Fireplaces: #of Fireplaces: Manual Assess: N Exterior Walls: Wood Fpic.Quality: *of Fireplaces: 1 Fplc,Quality: Fple.Quality: View: Equal Avg.Clear,Height: FpIc.Quality. Very Good Actual Age: 1957 Elec,Svc: Standard Arch/Appeal, Average Htg Forced air,gas fired Effective Age 1980 Garage Walkout: Quality: Sol Placer ma Walkout Quality Ist Oaths tit uallty) 2nd Baths(#/Quality) 31d Bath(*Quality) Renovated Age: #of Cars; Spa: i Spa: 1 Spa: 1 Shape: Irregular Floor Area: Dix: 1 Dix: I Dlx: 1 Functional Condition: Fult 1 d Very Good Fult 1 Full 1 Style: Split Level Exterior Walls: 314: 1 34 I 304: t Economic%: Basement Baths(*Qual.) 112: 1 1/2: 1 112: 1 Construction: Wand Frame porch Building Areas Spa: 1 Exterior Watts: Wood Glazed Area: Dix: 1 1st Roots Count 2nd Room Count 3rd Room Count Untin, 1st GSA: Quality; Full: 1 Bedrooms; 3 Bedrooms: Bedrooms: Unfin 2nd GSA: Exterior Trim: Brick Screened Area: 314: 1 Baths: 9 Baths: Baths: Unfin.3rd GBA: Quality: 112: 1 1 Average Family: tither: Other; Unfin.Total GBA Roof Type: Hip {)pen Area Living: 9 -Total Rooms: Total Rooms: Quality: Dining 1st Floor Area: 1,012 Roof Cover: Shingles Basement Room Count Kitchen 1 2nd Floor Area: Patio Bedrooms. Other: 3rd Floor Area Winslow Type VDouble Flung Baths: 1 Total Rooms. 5 Total GSA: 1,012 Patio 1 Area: 216 Family: 1 Window Type 2: Quality: Very Good 0chert Flat Value Patio 2 Area: Other: 1 Value: Air Conditioning. No Quality: Total Rooms; 2 Desc: Total Rooms Dormer Length° Dack Bedrooms: 3 Let lls � t,Pn Batas: 2 Deck 1 Area: Family: 1 Dormer Qualit)r Quality: ate: 0211712009 Appraiser 0, 21 Appraiser ID: Livia 1 y' Price: '$51,000 Appraisal Date: 04122t2010 g Patio Doors: Deck 2 Area: Dining Code: 15 Reason Board of Review Appraisal Date; I Quality: Kitchen: 1 Desc: Forced Sala Result Interior 1 Last Interior inspection: 04122/2010 Reason Other: Total: 7 Paul Result: Pool 1 Area: Quality: Pool 2 Area: Left Tag Yes 1 No Quality, Comm ORIG WINDS,NO WRAP AVG Ct3ND. WOOD SOFFITS, ORIG EXT IN AVG COND,IRREGULAR STONE PATIO.COVED CEIL,6 PANEL At[tertltl DOORS. PAINTED ORIG GAS S&CT COUNTER IN EAT IN KITCH GAS FPL,LG UPDATED MAIN BATH W/NEWER CT FLR„FIXTURES, NEW TUB&VINYL SUR. SSMT FR USED AS MSR W/CT FLR,SHRK WALLS,NEW SHRK CEIL W/REC LIGHTS,FULL DAYLIGHT=VG. BSMT BATH LOCATED IN LAUNtMECH RM, HUGE ORIG FURN.AVG GEFNL COND,RENTAL., City of Brooklyn Center PID.* 34119-21-32-0097 Property Type: R-Residential Value Info: Residential Field Gard Property Address;6413 .tune Ave N Zoning: R1 YeatNersiorr 20101 1 Printed: 4123/2010 Lot i Block: 0061001 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Miller's Northvlew Heights Owner(*): Get Monton LLC Bldg 82,200 Version: 1 District. Totat: 129,200 N+e ighborhoock 0053 Land, 8u Attributes Influences Building Dimensions Land Type: Standard Lot Frontage: 75 Park: Gas Length Width Sq Ft, Land Quality, B05-Land Left Side: 134 Park Quality: Paved Street 20 22 440 Area Rating Very Good Rear Side: 75 On Lake: Sewer Available 22 26 572 Site Rating: Good Right Side::: 134 Labe Quality:: Water Available 0 0 0 Zoning R1 Effective WOW, 75 On Riven: 0 0 0 Contamination Effective Depth: 134 River Qualify. 0 0 0 Flood Plain Map Ref: Effective Water: Landscape Quality: 0 0 0 PUD Ref: Property Area(SgFf): 10,050 0 0 0 Allowable Units., Acreage: Not Buildable: N Excess Land(;gFt): Adjacent Owner: N Usable SgFt: Flood Plain; N Flat Desc: Zoning Variance: N Flat Amount: Manual Lanai: N „1 ` PATIO 216 5lt 352 sf essom�n# rust nloas #, 572 st `1042 st 22, 22` 24 Report Name: City of Brooklyn Center Printed:4/28/2010 Sales Comps Details Sales Comps Details Page: 1 Item Subject Comol Comp2 ComV3 ,_. !11111P,44 PID 3411921320097 3511921330037 3411921410023 3511921320046 Address 6413 June Ave N 2807 Nash Rd 3118 64th Ave N 2706 64th Ave N District Sale Price $51,000 $127,000 $160,000 $149,000 Sale Date 02/17/2009 08/07/2009 08/31/2009 08/03/2009 Cash Equivalent $155,000 Price Per Sq.Ft. $50.40 $120.27 $146.78 $129.34 Dwelling Type Single Family Single Family Single Family Single Family Style Split Level Split Level Split Level Split Level Property Area 10,050 9,525 9,375 9,525 Actual Age 1957 1958 1959 1959 Effective Age 1980 1980 1985 1980 Quality Class . B07 B07 B07 B07 1st Floor Area 1,012 1,056 1,056 1,152 Total GBA 1,012 1,056 1,056 1,152 Finished Area 1,555 1,738 1,816 1,786 Basement Area 572 1,033 1,056 1,056 Basement Finished(%) 95% 66% 72% 60% Total Bedrooms 3 3 3 3 Total Bathrooms 2 2 2 2 Garage 1 Floor Area 352 322 288 288 Garage 14 of Cars 1 1 1 1 Garage 1 Placement Detached Tuck Under Tuck Under Tuck Under Total#of Cars 1 1 1 1 Walkout Type Air Conditioning No Central Central Central Pool Area-Total Fireplaces 1 2 Deck Area-Total Porches River Lake Influences Sq.Ft.Adj $52,149 ($1,312) ($2,789) ($5,171) Add BsmtAdj $5,177 ($4,172) ($4,644) ($4,380) Ded Unfin GBA Adj Site Adj $47,000 Garage Adj $5,014 $127 $127 Walkout Adj Patio Adj $195 Bath Adj $9,955 ($453) ($2,135) Air Conditioning Adj ($1,911) ($1,964) ($2,085) Porch Adj Fireplace Adj $2,715 $2,715 ($1,005) $2,715 Deck Adj Fin Bsmt Adj $9,343 ($2,379) ($4,092) ($1,551) Misc.Adj Total Adj $131,548 ($7,385) ($16,629) ($10,345) Market Adj Value $119,615 $138,371 $138,655 X z n htt A ow , 3C LAfw Z , Ae�+# x +►t kwr!oi Plwk Sot A�w M b{ !y#y 4 Ayi h 41 SC t�rt � park � Awa b w1 v . 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Avo x 0300 Avaf 243rd Aaa1 K Ono s, I� tat Av*W + Ate. 020 Am to imA"V �, '� •..� _ A t ,...0 k All COMPARABLE SALES MAP COMPARA15LE #1 2807 Nash Rd COMPARABLE#2 3118 64"'Ave N COMPARAUE #3 2706 64"'Ave N Report Name: Saleslnfonnation Printed,412K./2010 Clay of Brooklyn Center Sales :information Deport Page: 1 34-119-21-32-0097-6413 June Ave PV Sale Date Sale Price Cash Eguiv Sale TyUs �g It Ratio COMMtHts I —NS—r r yff 02/17/200 551,000 80 01-Warranty Deed 1.5-Forced Sale 2009 1 0 0 0$!()1/2003 $172.000 $0 11-Other 00-Good Sale PPS=4000 2005 1 ) t) I I i Report Name: Permit List City of ,Brooklyn Center 11ri€itcd 04!0&'20 10 we: Permit Lisle !'ag Permit List far: 6413 JUNE AVE N IWO15523 S4,7190 Building Residential Single Fanil Replace l AR(WF/RFR(X)F 05.'0812(") 05./2412t)00 HCO07218 $1,500 Mechanical Furnace Replace FURNACE' 12Y0211,1096 11/071,1 M'0042k)9 $$00 Mechanical Furnace FR `FSTAND 12,106/191,44 OWI111495 1.1111 PLACT, Permit Count: 3 i CITY OF BROOKLYN CENTER. LICENSE INFORMATION I'ID; 341192132009,17 License Information: License Number: 01004528 License Status: A License Type: Rental License Location, Business Applicant: Company: Douglas Allen Wahl Business Address: 1845 Stinson Parkway NE, Business City: Minneapolis Business State: MN Business Zip: 55418 Telephone: 6127828888 Assigned gates: Applied: 4/1/2009 Inspected: 4128/2009 Council: 5/11/2009 Issued: 5113/200 Expiration: 4/30/2011 2010 INCOME APPROACH ANALYSIS Single Family Residential Rental YEAR OF CONSTRUCTION: 1957 PID: 34-119-21-32-0097 Owner(s): Cel Monton LLC 9413 June Ave N Brooklyn Center, MN ACTUAL MARKET Unit Type #Bedrooms RENT RENT 0 STUDIOS $0 $0 0 1 BEDROOMS $0 50 0 2 BEDROOMS $0 $0 1 3 BEDROOMS $1,175 $1,200 0 4 BEDROOMS $0 0 1 Garages $0 $35 Garage stalls Included in rent MONTHLY ADJ. RENT $1,235 TOTAL ANNUAL ADJ. RENT $14,824 GROSS BUILDING AREA 1,012 LAND AREA 10,050 CAPITALIZATION PROCESS MARKET POTENTIAL CROSS RENT{P!GQ $14,820 LESS:VACANCY&COLLECTION LOSS % OF PGI -2.00 ($206) OTHER MISC INCOME 1,00% $148 (Application Fees& Late Fees) EFFECTIVE GROSS INCOME $14,672 LESS: ANNUAL EXPENSES: %OF PGI Insurance -4,50% ($667) Rental License -3,00° ($445) Maintenance&Cleaning -5.00% ($741) Reserves for Repairs -2.00% f'$296) TOTAL ALLOWANCE -14,50% ($1,B53) ANNUAL NET INCOME $10,670 RETURN ON &OF PERSONAL PROPERTY $1,500 HOUSEHOLD @ ($180) NET INCOME TO REAL PROPERTY $10,490 CAPITALIZATION: CAPIITALIZATION RATE 6.00° EFFECTIVE TAX RATE AVERAGE 1.66° " OVERALL CAP RATE 7.66% 7,66% 2010 CAPITALIZED VALUE OF PROPERTY $136,950 For Ad Valorum Tax Calculations, property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation. Monthly rent does not€ncl t q utilities. Tenants are responsible for paying water,gas,electric,garbage, maintaining lawn and snow removal. �r 09 2010 1 : 00PM HP LRSERJET FAX p. 2 Comparative Analysis Friday,April 9.2010 Summary of Comparable Listings This page summarizes the comparable listings contained In this market analysis. Sold Lletinga Address Priee Oda 132h TFSF $18q Suitt Style Sold Hate DOM ODOM S■ 8012 June Avenue 3 .448,000 3 2 1402 $31 1966 ONEST 04/17/2009 20 20 8012 Pearson Drive $55,100 3 2 1520 936 1855 ONEST 08108/2009 48 307 382481St Avenue $65,000 3 2 1512 $43 1866 ONEST 04/272009 7 121 5901 Halifax Avenue!1) $63,000 3 2 1100 $57 1955 ONEST 0311842009 7 173 4201 Janet lane 15 $107,500 3 2 1984 $54 1056 ONEST Q9/2312009 •7 370 5919 Halifax Place 3 $22'000 3 1 1040 $88 1955. ONEST 0812012008 '13 13 6025 Brooklyn Boulevard I 874,900 3 -2 1780 S42 1866 ONEST 1213112009 46 46 4007 Joyce Lane.15 B $ 6,000 3 2 1788 ifib 1980 ONEST 00/01/2009 7 188 4018 62Nd Avenue 1 $76,800 3 2 1926 $40 1960 ONEST 03/20/2009 35 35 6000 June Avenue I 566 ,600 3 1 1050 $82 1957 ONEST 04117/2009 40 40 3412 2 S 9 Nd Avenue I $87.,000 3 2 1208 372 1958 ONEST 01/12/2010 82 284 3812 62Nd Avenue L) $92,500 3 2 1860 $55 1960 ONEST 0=212009 26 26 5013 Pearson Drive :Z $126,000 3 2 1840 $68 1955 ONEST 08101!2009 10 168 0142 Brooklyn Boulevard $95,000 3 2 2360 $37 1955 ONEST 07/02/2009 7 184 3813 02Nd Avenue I5 $90,000 3 2 1834 $49 1860 ONEST 06/21/2009 20 28 5605 Pearson Drive 15 $93,000 3 2 2332 $40 1065 ON69T 07/28/2009 83 83 5913 Admiral Lane 1S =96,900 2 2 1840 $53 1955 ONEST 02/18/2010 7 74 6237 June Avenue�0i? $105,000 3 2 1602 $66 1966 FOURNI ,061152009- 9 503 8118 Kyle Avanue&e. fjt" Ihc,5 $114,600 2 2 1890 $81 1958 ONEST 03/23/2010 146 146 5813 Halifax Avenue Z(.v $128,900 3 1 1380 $95 1855 ONEST 11/17/2009 20 20 8038 June Avenue..CoOOP $140,500 3 2 2027 9 1958 ONEST 03101$/2010_: 17 147 3912.Jo oe:Lona.WOO Y $134,000 3 2 •1380 897 1961 ONEST 03/27/2009... 17 17 5843 Pearson:Drive('00,0 $135,000 3 2 2090 $65 1955 ONEST =09/30/2009 44 44 8206 Broaklyn.Bouleverd60Dp 5135,000 3 2 1706 $79 1908 ONEST 11/01/2010 110 110 _4219 Janet Lana-(�k�1+� $137,000 2 2 1694 $86 1958 ONEST <OW20/2000!.' 38 38 .5821--Drew-Av&nua (0600 $150,000 3 2 1244 $121 1951 ONEST -0710212006. 53 284 5931 Haltfax.Avrnud°C 'Ja $160,400' 3. 2 1519 $106 1959 ONEST BJO4�2d09 15 15 3516 Bags Lake Road 21-e $126;S00. 3:- .2 1910 $00 1955 ONEST 08/3.1/2008 '`19 19 Average': $103,493 1,1 1.9 1172 $16 1966 34 124 Medlan of Comparable Listings: $97,41$0 Average of Comparable Listings: $103,493 On Average,the'Sold'status comparable listings sold in 34.29 days for$103,a93 Hpr Uy eulu 1 : Ulvm HH LHbENJL1 FHX p, y CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2010 Assessment APPLICATION FOR APPEAL March 19, 2010 through April 9, 2010 You must return this application by April 9 201 to be placed on the Agenda for the Local Board of Appeal and Equalization held April 19, 2010 at 7:00 P.M. Name(9) !�?e� tl�` 7/Tt7�� Daytime Contact Number; Property Address 6114 V-1QK01y7" 1-q11L A/0 Property Identification Number Assessor's 2010 Estimated Market Value goo, M Is your property residential, commercial or multi4amily? chC1`rr If you are appealing a commercial, multi-family or residential rental property you must include income and expense data for calendar year 2009 with your application. What is the reason you are appealing your 2010 assessment? 1"r /r 4A frvs r 4Ti=YE; 0�4 r 24►nl //6.41Do Awl err /3?r1� /ham "e., c—..( -a+," cr►*•, t/1 Cu�t+yFJ V w,7�•► , 9SiC- • T heo� !� E, �►�.✓ Lt.i� r C.,7 o w'� >�tea' A.w7D /�' I1' � tit T1G! ..�✓� s:'7� 7► �i 4 W When did you purchase your home? Date of Purchase Purchase Price ��3"�•�' Did you purchase your property from a bank, as a foreclosure or short sale? Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. Al c rr ^,0 r►ti a. .�c Have you had a recent appraisal for refinancing, purchase or a market analysis by a real estate agent completed within the last year? If so,what was the determination of value? c. >�� ,,. , G•rotA «�...� n� � asxr..r r•,.�.,f L c n f-r� ,• ��;C �,� �,.+...,�.�•f �C.,,� f�i�- �,�.► - E gk What do you think the market value of your property should be? K Please provide any documentation supporting your claim of overvaluation or erroneous classification with this application. In order to appeal your valuation an appointment to view the prot3orty will be ryagired. Apr 09 2010 1 : 01PM HP LRSERJET FAX p. 10 CEL Monton, LLC Profit & Loss 6114 Dupont Jan•Mc 09 Ordinary IncomelExpsnee Income +4100•Rental Income 6,78D.00 4200-Fee Income 4280.Application Fees 35.00 Total 4200•the Income 35.00 Total Income 6,815.010 Expense 5100,Insurance 6110•Property Insurance 529.40 Total 0100•Insurance 529.40 8300•Repairs 7,843.41 5400•Utilities 1410-am 11.61 8400•Whirs•Other 53.08 Total 41400-Utilities 64.67 0000.MATERIALS 1,776.80 0200-Taxes 8230-Property Taxes 435.28 Total 6700 .Taxes 435.28 7010-Bank Service Charges 4.00 7040•Ucenses and Permits 1,095.00 7055-CradlUCrlminal cheeln 46.00 7090•Properly Maintenance 655.50 Total Expels t2,551.28 Net Ordinary Income .5,736.28 Not Income •5,7J8.28 Page 1 Review Of 6114 Dupont Ave N. PID#36 119 2134 0036 For Cel Monton LLC 2010 Board of Appeal and Equalization �f t c r. 7 4 7 ,,� ✓ 3JY �\::zz:vv City of Brooklyn Center A Millennium Community T0: 2010 Brooklyn Center Local Board of Appeal and Equalization RE: PID#36-119-21-34-0036 Cel Monton LLC 6114 Dupont Ave N. Brooklyn Center, MN 55430 A representative of Edlich Realty contacted the 2010 Local Board of Appeal and Equalization regarding the 2010 estimated market value of the property located at 6114 Dupont Avenue North by telephone on April 8, 2010. This property has a 2010 estimated market value of $133,900, with an improvement amount of$8,000. The board directed Mr. Edlich to schedule an appointment for an interior review with the Assessor's office. A review of the property was scheduled on April 22, 2010 with an appraiser from the Assessor's office. The property is a 1,184 sq. ft. expansion with a one car detached garage in average condition. The main level includes a living room, kitchen,two bedrooms, and one full bathroom. The second floor finish is wood tongue and groove walls, wood ceiling and is finished as one large bedroom. The kitchen cupboards are updated, with the upper cabinets painted white. The main floor full bath finish includes ceramic bath surround and a pedestal sink. There is no basement finish and a prior bathroom has been removed, leaving only a rough-in for plumbing. There are no egress windows. The property has a new gas forced air furnace and no central air conditioning. The last interior property review was completed in November, 2008, with the Realtors permission to review the mold abatement issues. After reviewing the property April 22, 2010,the property had been thoroughly cleaned to remove mold and some changes were made in physical characteristics. Changes to the property included the removal of all basement finish and to remove the basement bathroom. While most of the prior updates are intact, the newer kitchen cupboards had been painted to hide staining. An overall adjustment to the effective age of the property was made. After reflecting the characteristic changes the property calculates an estimated market value of$123,100. As requested, Edlich Realty provided a copy of the 2009 income and expense documentation for the subject property. The profit and loss information submitted was provided to the council in the initial appeal packet from the owner. Three actual documents were provided to the Assessor's office with actual rent figures of$1,250, $1,200 and a total 2009 annual income of $6,780. Due to discrepancies in the numbers, the average market rent of$1,200 for a typical three bedroom home was used as 2009 rent. Additional comments indicated rents were decreasing as owners renew yearly leases. The subject property was purchased in February, 2009, and the rental license was issued June 23, 2009. It is assumed that the original lease amount is currently still in place. 6301 Shingle Creek Parkway Recreation and Community Center Phone & TDD Number Brooklyn Center, MN 55430-2199, (763) 569-3400 City Hall& TDD Number(763) 569-3300 FAX(763) 569-3434 FAX(763) 569-3494 www.cityofbrooklyncenter.org In discussion with the Assessor, Mr. Wahl indicated that the tenants were responsible for all utilities, maintaining the yard, and snow removal. Due to the lack of itemization of repairs, materials and maintenance items, these expenses are not typical of a rental property, and are considered part of the initial investment of an income property. The owner's documentation was reviewed, but not felt reliable for use in calculating the income approach. As the majority of single family residential properties in Brooklyn Center are owner occupied, more weight is given to the sales comparable approach rather than the income approach. A market derived income approach of a single family three bedroom rental property has been included with this report. Mr. Edlich did not provide a comparative market analysis listing of comparable homes in Brooklyn Center with the initial appeal application for the subject property. The enclosed grid completed by the Assessor's office shows the subject property adjusted value at $122,181, but an additional flat charge of$1,000 should be added for the rough-in bathroom. This would give an adjusted value of$123,100 for the subject property. The comparable grid compares the subject property to three similar expansion in Brooklyn Center. Adjustments were made to all comparables for size, garage, basement, and amenities. Comparable number two required the least amount of adjustments to be similar to the subject property. The enclosed comparable sales grid indicates a range of value for the subject property from $120,329 to $136,710. It is the Assessor's recommendation to reduce the 2010 estimated market value of$133,900 to $123,100, and remove the $8,000 improvement, for taxes payable in 2011. Respectfully submitted, Nancy Woj k, SAMA City Assessor SUBJECT PROPERTY 6114 Dupont Ave N Cel Monton LLC PID# 36-119-21-34-0036 ., 107 ON t e9 'y as a s,/ice z Land Characteristics Land Area 10,312 sq. ft. Building Characteristics Style: Expansion 1,184 sq. ft. Main Level Room Count: 4 / 2 / 1 Full Bath Second Level Room Count: 1 / 1 / 0 Baths Below Grade Room Count: 3 / 1 / 3/4 Bath Garage: 1 Car Detached Fireplace: 0 Porches/Decks/Misc. : Deck Central Air Conditioning: None Report Name: Images City of Brooklyn Center Printed: 4/30/2010 PID: 36-119-21-34-0036 Page: 1 Property Images it I.i Report Name: Taxpayer Inquiry Printed:4/15/2010 City of Brooklyn Center Page: 1 Taxpayer Inquiry Display PID House Nbr Street Name Unit Zip e 36-119-21-34-0036 6114 Dupont Ave N 55430 Last Name First Name M1 Owner Taxpaye r Resident Cel Monton LLC Y Y N Fro tags Left Side Rear Side Right Side F&Width EM Depth Proper Area Acreage Zonjug pfd Exempt Code School Dist Watershed Yr Built 78 0 0 0 0 134 10,452 0.00 R1 0286 15 1954 Year Y-ff #Subs Land Value Bldg Value Mach Value Tot Mkt Value Tax Can Hmstd Midvr Rel H // %Own ELC 2010 1 1 47,000 86,900 0 133,900 1,339 N N N R 0 N 2009 1 1 58,900 57,400 0 116,300 1,163 N N N R 0 Y 2008 1 1 60,900 89,200 0 150,100 1,501 Y N N R 100 N 1 Lot: 009 Block: 003 Addition: Cederberg Addition I i Property 1 Brooklyn :' E F1 Praptyo ? '. ._.. " tr tare 1Ji1 Ptiarto�s)on file Today's date: 41120010 Sketcll(es�vn file felease: 1.0 :041 36119-21-34-0036 Address: 611+4 uptrrttA�aaN Assessor Com1'nents on file Lugged on user:tWYOJCIK h_- J : (As essina Nancy,1Noicik(PD Single PQ 1 Parcel Search 2 bear .Pn € P#oleos *� wa � Parcel 5totu-ACTIVE Tax Oar lr0 � [ Parcel Mass,Upda�a CAMA Inquiry U Values Adlninistratgn Values Informat�n'` , �Assessmenk`e� _ �+i n4a tAsses monk Martu alL#(sk r Hrepm nth Trar Homestead Update Building nd a ar+ gkc Homestead Rcfovet {� = [� phi y y? f 1,:."r tal u5l FQ4 Styl�'r 1 1 f Last1p}]ta&ed"I'8dr L �ri7E Trtal&8A 134x � Age9 Zoning F1 riShl, Utlet0,i�1t ` Tax � + ; c. T'OH. 1n�� E K t'� Adluted Fl , _ $ » AN: f� "'' AdI•,RatEs� �� � � � �BaSE?mt Q �" � ��t °�'; $1 Q Ve(ue$f�lee �er ' y Admit :R �%-� n �!ley Tk4• vl���' r� � ��'��i" C-1 Pt ert lc 4"A" t tiM!A ""Sx'.. .., ((is4aeCl 3 WYML� i..k 3.. •. E> (V. Addl C�S�I� tt, o . , Fiek!Cad lrtr>il - IrStohe ..,..: 1 �i-::'.{` rY R b Pro3, � M 7 0 k' �1 �9 , CAMAS , q ACIIlA3lrrlt „xs P f tz ice .t 3 FEN `u3 {,, 3 cttonal 4 �� l3�l Mar�4e b „-�€� z ,:N' -rz «>:'a-�J M > � 3�� .r„i. ii t s T vn ' Suild . 19 CAM A B $6 r?T @ w g k �� .LAMA? 3 n z, , CPMA .: , Y.. 5 A ?a M. RF C+7. firpraals 3 , All eg n M x- -Ma-, ,.,, 1 GIS - Property Data NBrooklyn on <C:XProgrdm w t1 ,, ..- .W, reef f me Unkt .� 2 Photo(sj on file',- Tway' date: 4 6F2U LLl PCoper tp douse#:„ elees : 9.O .g41 1ketcii(esj on file 136-119-21-34-0036 Addret 6114 > prr t `; j� ,1sessor.Cornments onfile ” Logged on used:MNC�JClK Angle PID, 1 Parcel Search 2 Cleer 3 F'nnt; 4 view Photos 11 f ssessina-Nancy Woicik tPD , �, ' Parcel status:ACTIVE C7 PrcalAdrttratrtt i "fir Parcel:lnfcTmat As$essor Comments Assessment Year•,: Parcell�rvrsioning Ma�uall�$sssrtr�nk Manr_allanck 11 I'll X010 Temporary PIC?UpdaF 11 Asesor Project Updfwlding Land Summary , Asse&sor Inquiry „ . lhrrg Type -style .Taacpayer#nquuy Ssrg� � fug Bl7? 1 1%4`;11 , M, ' slraSUpdate i':'i' �.., T.c�tal,aBEi ,. 3 3 `'.3 [T- 0 11 FI1 C ci14 � Ur74rat14n 11'1, Yakrex�!'�WrCrlcatlQn'71'r r �' 11 r a t ► cty Trar A fie. $ g ' :0 Shap .l Q,0 11 ,r ' Home efed Rc38aYO ; 134ta�:, R � � I r Ar�fd Baser' $t3Y3�A � 832.Scat � $10:00 rrrrr r �r�st�Mrt sedYear t: ped Ur .GBA r Q o sc 1-+� Q Q M1pdc�t@ c k /�y�/yy�yr��.ryt „-�''r "' Tc�tel; t ,r r k YYS! � tQ; 'fry iF 3 J: .s�'Y, N A L .5 y ! gn„ 'F t c ,':! "x..i�, ..:... n ead ` .?' 3,.1»a 3., 'i 3'� ;,.3>m �,E �3 ;3ni, �,C. Tan CePaa, tlpdab ,r 11 11 ' ua �, b rr T017 r u P er r ,:77,1.11 r 11 P `,m'_d_, tit Qtr a .n' �# Dormers A Patio�tt7ors; $5Q0 11 j , w : - s 3 3�- »yri 3>3' $,,F 53kh� '. 3y" 1. , 11 s r alkpuk,. , d 0 Alr fond 0 ©ecl�s: 3?60.-11 Sk]las ,, it tr a os 1' Por ass: ..,.. , 1 hhs P $Q r .. ads ` - inatttrn 11 k ths. Fire lace F.in.Bsmt: 0 11 p. ,�,�l, WS� , X� � , 'O r t! T I Cost Kitchen: $Q rrr r,Z rrrr k�1rr�Nlx bodes : u r FrireT�Aiutmeri r +. e r d i' fl :'. �+/ett 'atairreters . lustme B a 0 p r~ ak�n � 9 S In uences � 1.4..11 3 �� E 3 :i.11 Ccurr abies Batch U Functror�at ' 0 E�onomlC � a;fl,� 11 R U Rt a'rt ao r cs f1 B� + 8. �� `$Iji9."Nlkt.Value: $7B,1Q0 11 x ,,11� � �ldt1' „ 1 at3r! ?Ikt.' IUe: . QQI;11 hl�Ist , e Resider �� $ r t' alu 1, omrrrer :� 3 ���3 e.. ta�htkt �!aiue:" $110.,rr lwirkwt 9� ue M�,Ib�a� : g3 City of Brooklyn Center PID: 36-119-21-34-0036 Property Type`: R-Residential Value Info: Residential Field Card Property Address: 6114 Dupont Ave N Zoning: , R1 YearNersion: 2010/ 1 Printed: 4/27/2010 Lot/Block: 009/003 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Cederberg Addition Owner(s): Cel Monton LLC Bldg: 86,900 Version: 1 District: Total 133,900 Neighborhood: 0054 Model �r Area(SgFt): 832 Kitchen Rtg: Standard Interior: Paneling Interior. Res.Cond: Good Placement: Detached " Type: Regular Interior: Plaster Trim: Softwood Trim: Dwell Type: Single Family #of Cars: 1 Finished(%): Trim: Hardwood Floor: Other Floor: Int. Layout: Standard Floor Area: 280 Quality: Floor: Wood Avg.Clear.Height: 8.0 Avg.Clear.Height: Adjacent Property: Equal Condition: Average #of Fireplaces: 1 Avg.Clear.Height: #of Fireplaces: #of Fireplaces: Manual Assess: N Exterior Walls: Wood Fplc.Quality: Very Good #of Fireplaces: Fplc.Quality: Fplc.Quality: View: Equal Avg.Clear.Height: Fplc.Quality: Actual Age: 1954 Elee,Svc: Standard Arch./Appeal: Average Htg: Forced air,gas fired Effective Age: 1980 ,�� ., .� • Walkout: Renovated A� Quality: B07 Walkout Quality: g ty Placement: Y �,. ,M.�, ,.�'�� , w. ���.,. �S�.�Ith ��44��1)�!!). e: #of Cars: Spa: % Spa: / Spa / Shape: Square Floor Area: Dix: / Dix: / Dix: ! Functional%: Condition: Full 1 / Average Full / Full: / Style: 1 1/4 Exterior Walls: 3/4: / 3/4: / 3/4: / Economic%: 1/2: / 1/2: / 1/2: 1 Construction: Wood Frame `' „ u11t1t - . , Dix: it � '' .... Unfin. 1st GBA: f ._.�... �� Exterior Walls: Vinyl Glazed Area Via, Quality: Full / Bedrooms. 2 Bedrooms. 1 Bedrooms: Unfin.2nd GBA: Exterior Trim: Screened Area: Unfin.3rd GBA: 3/4: / Baths: 1 Baths: Baths: Quality: 1/2: / Family: Other: Other: Unfin.Total GBA: Roof Type: Gable Open Area: Living: 1 Total Rooms: 1 Total Rooms: Quality: .� 1st Floor Area: 832 ,,.- k ,;- ,�� o, �.„ Dining: 2nd Floor Area: 352 Roof Cover: Shingles + r. Kitchen: 1 Bedrooms. Other: 3rd Floor Area: Baths: Total GBA: 1,184 Window Type 1:Double Hung �' ' Total Rooms: 4 Patio 1 Area: 150 Family: 'Q Quality: Average Kitchen: Window Type 2: Casement � ,,,, ,,,,, Patio 2 Area: Other: Value. 1,000 Air Conditioning No Quality: Total Rooms: Desc: ROUGH IN BATH Dormer Length: Bedroo 3 Baths m 1 s Dormer Quality: Deck 1 Area: 470 Family. 0 Y Date: 02/17/2009 Appraiser ID: 11 Appraiser ID: Quality: Average Living: 1 Price: , pprasa#Patio Doors: 1 Deck 2 Area P $28000 Appraisal Date: 04/22/2010 Dining: 0 n a 15 R d oe: Reason: Board of Review Appraisal Date: Quality: C Kitchen: 1 Desc: Forced Sale Result: Interior Other: 0 Last Interior Inspection: 04/22/2010 Reason: Total 5 R" ��... . Pool 1 Area: Result Quality: Left Tag: Yes/No Pool 2 Area: Quality: 13y ,s „. n ,oa .. ,. .. WRAPPED NEWER WINDS. MFSF. GLASS BLK BSMT WINDS.UPDATED MF EXT IN GOOD COND. GAS INSERT TO BSMT FP. AQ(11tI± � REMODELED KITCH. 09ASMTNAC&MOLD PRESENT,PARTIAL VAL. 10ASMT/BACK TO FULL VAL. '10 REVIEW ONLY CLEANING REQUIRED AND REMOVAL OF BASEMENT FINISH WAS DONE. RI BSMT BATH&FP REMAIN. SOME OF THE REPLACED KITCHEN CABINETS WERE REPAINTED.NEW FURNACE,NO AC. City of Brooklyn Center PID: 36-119-21-34-0036 Property Type: R-Residential Value Info: Residential Field Card Property Address: 6114 Dupont Ave N Zoning: R1 YearNersion: 2010/ 1 Printed: 4/27/2010 Lot/Block: 009/003 Dwelling Type: Single Family Land: 47,000 Assessment Year: 2010 Addition: Cederberg Addition Owner(s): Cel Monton LLC Bldg: 86,900 Version: 1 District: Total: 133,900 Neighborhood: 0054 Land Type: Standard Lot Frontage: 78 Park: Curbs Thru Street L rt t Land Quality: B05-Land Left Sider Park Quality. Gas 32 26 832 Area Rating: Very Good Rear Side: On Lake: Paved Street 0 0 0 Site Rating: Good Right Side: Lake Quality: Sewer Available 0 0 0 Zoning: R1 Effective Width: On River: Sidewalk 0 0 0 Contamination: Effective Depth: 134 River Quality: Water Available 0 0 0 Flood Plain Map Ref: Effective Water: Landscape Quality: Average 0 0 0 PUD Ref: Property Area(SgFt): 10,452 0 0 0 Allowable Units: Acreage: Not Buildable: N Excess Land(SgFt): Adjacent Owner: N Usable SgFt: Flood Plain: N Flat Desc: Zoning Variance: N Flat Amount: Manual Land: N 10' ui DECK deck , a Gara e 1'50.0 sf o 200 Q s 280.0 rag- �., 32, 1pr..., PATI 150.0 s 321 rn first F1oar fD i 832.0 sf. ._..._. - Second Floor ," 0 04 f ° N Basement a- o deck 32 Sketch by Ppex MedinaTM Report Name: City of Brooklyn Center Printed:4/28/2010 Sales Comps Details Sales Comps Details Page: 1 Item Subject Comol Comn2 Comn3 PID 3611921340036 1011821120081 3611921340021 3611921340033 Address 6114 Dupont Ave N 5118 France Ave N 6101 Bryant Ave N 6101 Colfax Ave N District Sale Price $28,000 $130,000 $134,400 $152,500 Sale Date 02/17/2009 09/16/2009 08/10/2009 09/30/2009 Cash Equivalent $147,500 Price Per Sq.Ft. $23.65 $126.95 $112.75 $128.04 Dwelling Type Single Family Single Family Single Family Single Family Style 1 1/4 1 1/4 1 1/4 1 1/4 Property Area 10,452 9,977 10,050 10,318 Actual Age 1954 1955 1952 1953 Effective Age 1980 1980 1980 1985 Quality Class B07 B07 B07 B07 1 st Floor Area 832 768 832 832 Total GBA 1,184 1,024 1,192 1,152 Finished Area 1,184 1,408 1,608 1,776 Basement Area 832 768 832 832 Basement Finished(%) 50% 50% 75% Total Bedrooms 3 3 3 3 Total Bathrooms 1 2 1 2 Garage 1 Floor Area 280 600 528 396 Garage 1 #of Cars 1 3 2 1 Garage 1 Placement Detached Detached Tandem Detached Detached Total#of Cars 1 3 2 1 Walkout Type Air Conditioning No No Central Central Pool Area-Total Fireplaces 1 Deck Area-Total 470 108 280 Porches 128 River Lake Influences Thru Street Sq.Ft.Adj $52,179 $3,851 ($810) ($1,089) Add Bsmt Adj $7,446 $496 ($84) ($292) Ded Unfin GBA Adj Site Adj $47,000 Garage Adj $4,035 ($5,468) ($3,066) ($2,786) Walkout Adj Patio Adj $100 $100 $100 Bath Adj $4,923 ($6,390) ($1,865) ($5,307) Air Conditioning Adj ($2,158) ($2,143) Porch Adj ($2,664) Fireplace Adj $2,685 $2,685 $2,685 $2,685 Deck Adj $3,365 $2,583 $831 $3,365 Fin Bsmt Adj ($4,865) ($3,388) ($5,223) Misc.Adj $448 Total Adj $122,181 ($9,672) ($7,755) ($10,790) Market Adj Value $120,328 $126,645 $136,710 t V*f �6tl�Ava N "' "' ftre"ay Blvd 4th AV$N }C > _ A s 4411 A'*N t th Ave N R, _ 2 z Z Ava nt T 'cg n. d3rtl.Awe N Garden Brook kyy�Er! S Nie q�}� City Ptk sub, 110 z !Oct *mm,.a Kylawit' ��st Aya N asst Ave tv PaNlc GM Awe N a � Mnr N ndviow E 5 A"N Park? "Oh Aw N m z 3Utlt.iwAN 97" t a STMt A14 14 S Mt Alva N or litlrttt 4 x { Sdttt AWN Twin.... � ,� buen 4` 8g Or 2 Tlitms 5ftAv*N a Z �+atk -P at 54411Ave4 p Mm Avt N ? 5 u BeMm I n ; w i N 52nd Ave Oak St z 51*Ave N N 3t st AV* Awe ` AV*N !k?Ikk11N e N N St1Nr Aw E . 4 INI Aye N 49th Awl N N 4"AN mi COMPARABLE SALES MAP COMPARABLE #1 5118 France Ave N COMPARABLE#2 6101 Bryant Ave N COMPARABLE#3 6101 Colfax Ave N Report Name: SalesInformation Printed:4/27/2010 City of Brooklyn Center Sales Information Report Page: 1 36-119-21-34-0036-6114 Dupont Ave N Sale Date Sale Price Cash Equiv Sale Tvoe Sale Ratio Comments AL I[ Yu 9L Yr Qy.Ver 02/17/2009 $28,000 $0 01-Warranty Deed 15-Forced Sale 2010 1 0 0 07/01/1984 $59,000 $0 11-Other 00-Good Sale 2005 1 0 0 Report Name: Permit List City Of Brooklyn Center Printed: 04/08/2010 Permit List Page: 1 Permit List for: 6114 Dupont Ave N Permit# Unit Value Permit Type Sub Type Work Tvoe Description Cancelled Issued Date Final Date Dead Date Expiration Date Refund Date BC038212 $2,750 Mechanical Furnace Replace REPLACE FURNACE 06/03/2009 06/04/2009 AND DUCTWORK BC038188 $300 Plumbing Residential Replace REPLACE WATER 05/26/2009 06/04/2009 HEATER BC037950 $0 User Defined Vacant BuildingRegistr. Residential VACANTBLDG 04/24/2009 06/04/2009 REGISTRATION BC012890 $5,000 Building Residential Single Famil Replace TEAROFF/REROOF 06/15/1999 12/16/1999 BC007910 $4,500 Building Residential Single Famil Replace SIDING/TRIM/SOFFIT 05/20/1997 09/24/1997 BC007469 $2,175 Mechanical Undefined Addition DIRECT VENT 02/0611997 03/13/1997 FIREPLAC Permit Count: 6 i CITY OF BROOKLYN CENTER LICENSE INFORMATION PID: 3611921340036 License Information: License Number: 01004575 License Status: A License Type: Rental License Location: Business Applicant: El Company: Douglas Allen Wahl Business Address: 1845 Stinson Parkway NE, Business City: Minneapolis 1 Business State: MN Business Zip: 55418 Telephone: 6127828888 Assigned Dates: 0 Applied: 5/12/2009 Inspected: 6/4/2009 Council: 6/22/2009 Issued: 6/23/2009 Expiration: 5/31/2011 2010 INCOME APPROACH ANALYSIS Single Family Residential Rental YEAR OF CONSTRUCTION: 1954 PID: 36-119-21-34-0036 Owner(s) : Cel Monton LLC 6114 Dupont Ave N Brooklyn Center, MN ACTUAL MARKET Unit Type #Bedrooms RENT RENT 0 STUDIOS $0 $0 0 1 BEDROOMS $0 $0 0 2 BEDROOMS $0 $0 1 3 BEDROOMS $1,250 $1,200 0 4 BEDROOMS $0 $0 1 Garages $0 $35 Garage stalls included in rent MONTHLY ADJ. RENT $1,235 TOTAL ANNUAL ADJ. RENT $14,820 GROSS BUILDING AREA 1,184 LAND AREA 10,452 CAPITALIZATION PROCESS MARKET POTENTIAL GROSS RENT(PGI) $14,820 LESS:VACANCY&COLLECTION LOSS % OF PGI -2.00% ($296) OTHER MISC INCOME 1.00% $148 (Application Fees & Late Fees) EFFECTIVE GROSS INCOME $14,672 LESS: ANNUAL EXPENSES: % OF PGI Insurance -4.50% ($667) Rental License -3.00% ($445) Maintenance&Cleaning -5.00% ($741) Reserves for Repairs -2.00% ($296) TOTAL ALLOWANCE -14.50% ($1,853) ANNUAL NET INCOME $10,670 RETURN ON &OF PERSONAL PROPERTY $1,500 HOUSEHOLD @ ($180) NET INCOME TO REAL PROPERTY $10,490 CAPITALIZATION: CAPIITALIZATION RATE 6.00% EFFECTIVE TAX RATE AVERAGE 1.66% * OVERALL CAP RATE 7.66% 7.66% 2010 CAPITALIZED VALUE OF PROPERTY $136,950 * For Ad Valorum Tax Calculations, property tax is not deducted as an expense, but rather incorporated into the overall cap rate calculation. Monthly rent does not include utilities. Tenants are responsible for paying water, gas, electric, garbage, maintaining lawn and snow removal.