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2009 05-04 CCP Board of Appeal & Equalization Reconvene
2009 Brooklvn Center Board of Appeal and Eaualization Reconvene Agenda May 4, 2009 - 5:30 PM 1. Meeting called to order, roll call. (5:30 PM) Local Board of Appeal and Equalization (LBAE) Certification Form. 2. Appearances by taxpayers with appointments Eugene & Diane Wright 4416 69th Ave N. PID # 27-119-21-33-0017 Leo Schultz 3318 63rd Ave N. PID #34-119-21-41-0016 Steve Sines 3600 Woodbine La PID #27-119-21-42-0032 Michael Symons 6407 Orchard Ave N. PID #33-119-21-41-0037 My Bui Le - Que Viet Restaurant 6100 Brooklyn Blvd and adjacent parking lot PID's #03-119-21-12-0090 and #34-119-21-43-0047 Garden City Court Apartments 3407-3417 65th Ave N. PID #'s 34-119-21-42-0018, 0019, 0020, 0021,0024,0025, and 0026 Monte Hanson - Art Effects Inc. 3715 - 3721 50th Ave N. PID's #10-118-21-13-0063 and #10-118-21-13-064 Lauren Tollefson 6131 Regent Ave N. PID # 33-119-21-43-0016 9816 Palm St. LLC - Mr. Jason Elliott 6300 France Ave N. PID # 34-119-21-42-0008 3. Adjourn CITY OF BROOKLYN CENTER " RECEIVED AN 09.79 LOCAL BOARD OF APPEAL AND EQUALIZATION 2009 Assessment You Name(s) Daytime Contact Number: APPLICATION FOR APPEAL March 19, 2009 through April 10, 2009 must return this application by Aoril 10. 2009 to be placed on the Agenda for the Local Board of Appeal and Equalization April 20, 2009,7:00 P.M. v !S Z.-S4 S- 33-e Property Address 41-41(v ct4: A, e . Property Identification Number - 7j - 3 - r) 0 1'7 Assessor's 2009 Estimated Market Value /ZX q6 d What is the reason you are appealing your 2009 assessment? 1 fl -1;p A )-Z .y00 - UL tarct\~.S~d jar ~ot~. ZED - Oh. 7 tnr r Z"7 '?rD d When did you purchase your h me? Date of Purchase 44 Purchase Price Did you p rchas your %roperty frT a bank, as a foreclosure or short sale? Q Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. Q 4.A- atOL~J / IJ . \ n ♦ LC~C ~~u ~'(1(~~~T yy~, SG9t3 " c^ \ Lo yew c+J.~ pus dz Sal ~ 1516 v,~Q r o-~ ~ ,^L a 9 . Have you had a recent appraisal for refinancing, purchase or a market analysis by a real estate agent completed within the last year? Yes or~Z.1) If so, what was the determination of value? 'f"r /0 © xr~'e J What do you think the market value of your property should be? c~ /0 0 Please bring all documentation supporting your claim of overvaluation or erroneous classification to the Local Board of Appeal and Equalization. In order to appeal vour valuation an appointment to view the property will be reauired. RECEIYEC APR 2',4 M Eugene R. Wright 15100 Stone Road Wayzata, MN 55391 April 17, 2009 City of Brooklyn Center Local Board of Appeal and Equalization 6301 Shingle Creek Parkway Brooklyn Center, MN 55430 _Re: 4416 69'h Ave. N> Dear Members of the Board: I am hereby protesting the most recent value of the above referenced property as I am unable to appear in person as I will be out of town. The property was recently (settlement date of June 27, 2008) purchased for a substantially lower amount and limited improvements were made prior to January 2, 2009. Many other improvements were required and some have yet to be completed. The house was vacant since purchase and could not be lived in on January 2, 2009. It appears the city did not know of the sale or transfer of ownership. See legal documents attached and settlement statement showing purchase price of $68,250.00. Prior to January 2, the following costs were incurred: a new furnace and air conditioner, cost of $6,748; electric and plumbing repair, $818; painting, about $2,500, partially completed windows, doors, and siding, about $9,750. Therefore the auction price plus improvements puts the property value at about $88,100. Much more work remained to complete the house for occupancy, including finishing the siding and windows, replacing the garage door spring and opener, sanding the floors, replacing the kitchen counter top to replace the World War II version in the house when it was purchased, replacing and repairing rotted wood and tile in the kitchen behind the kitchen counter top, replace the bathroom stool and components and replacing plumbing from the bathroom going down into the basement, replacing and repairing the deck on the back of the house, replacing appliances, replacing kitchen fan and components, clean and seal tile and grout in bathroom and kitchen, caulk bathroom sink, unclog kitchen sink, inspect dishwasher, install light fixtures, install blinds and lights in kitchen, bedroom and closets, trim and sand base boards, patch window sills, sand, clean, tape, stain base boards and door frames, remove and replace shower door frame and replace tile, clean and replace bathroom light, install green board for bathroom, repair around bathroom sink, replace basement lighting. Yours truly, Eugehs~R. Wright Encl. 25-M LIMITED WARRANTY DEED Minnesota Conveyancing Forms• 025-mvl • Yaltey PC Services (9199) Corporation, Partnership or Limited Liability Company to Joint Tenants STATE DEED TAX DUE HEREON: $ a._-~Q0 Date: - aO --OR FOR VALUABLE CONSIDERATION, Deutsche Bank National Trust Company, as Trustee of Argent Mortgage Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2006-W5 under the Pooling and Servicing Agreement, dated as of May 1, 2006, a National Banking Association, under the laws of The United States Grantor(s), hereby convey(s) and warrant(s) to Diane Wright and Eugene Wright, Grantee(s), as Joint Tenants, real property in Hennepin County, Minnesota, described as follows: See Attached Exhibit "A" together with all hereditaments and appurtenances. This Deed conveys after-acquired title. Grantor warrants that Grantor has not done or suffered anything to encumber the property, EXCEPT: Subject to restrictions, reservations, covenants and easements of record, if any. Check Box if Applicable: ® The Seller certifies that the seller does not know of any wells on the described real property. ❑ A well disclosure certificate accompanies this document. ❑ I am familiar with the property described in this instrument and I certify that the status and number of wells on the described real property have not changed since the last previously filed well disclosure certificate. DEUTSCHE BANK NATIONAL TRUST COMPANY, AS TRUSTEE BY CITI RESIDENTL 1 LENDING, INC., ITS ATTORNEY-IN-FACT BY Everett Kellis Its: Vice President STATE OF California )SS- COUNTY OF San Bernadino ) The foregoing instrument was executed and acknowledged before me on. this 20th day of June, 2008 by Everett Kellis the Vice President of Citi Residential Lending. Inc.. as Attornev-in-Fact for Deutsche Bank National Trust Comoanv. as Trustee of Argent ModWe Secujities- inc.. Asset Backed Pass Through Certificates- 2006-W5 under the pooling and servicing agreement dated as of Mav 1.2006. a National Association under the laws of United States of America. on behalf of the National Association. KWARw STMV aRSEAL (OIL onIERnnEORRANK) See Attached Notary Acknowledgment SIGNATURE OF PERSON TAKING ACKNOWLEDGEb1ENT Chock here it pat or all of the land is Registced (Tonvcs) TaK St■temaus for the real property described in this instrument should be sent to (include acme and address of Grantee): THIS DOCLbO M' WAS DRAEIED RY (NM.Q AND ADDRESS) West Title, LLC Diane Wright 11660 Wayzata Boulevard F-CL Minnetonka, MN 55305 0 - (952)252-2500 1 ~J l J'tS►l 400 Fite 110805365 r".,.~3`tka" l m ~ '55 39 ACKNOWLEDGMENT State of California County of SAN BERNARDINO 1 On lam- C~8 before me, Lilv Huvnh Notary Public (insert name and title of the officer) personally appeared Everett Kellis who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/am subscribed to the within instrument and acknowledged to me that he/sheAhW executed the same in his/herheiF authorized capacity(ies), and that by hi%%eFAheW-signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 1 certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my and and official seal. Sign , re Lily H ~rt~aKt yn ~.{Cr ~ rV S~f 2~7' LILY HUYNH Commission # 1626295 Z Z Notary Public - California ~ Los Angeles County (Sea 9, Block t, SnseA M~,ar- A B. TYPE OF LOAN: U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT 1.0FHA 2C]FmHA 3.®CONV. UNINS. <]V 6. FILE NUMBER 7. LOAN NUMBER SETTLEMENT STATEMENT 0805365 B. MORTGAGE INS CASE NUMBER: ~G..,#OTE: This tam is furnished to give you a statement of actual seHbment costs Amounts paid to andby V* setflement apart are shown. !terns marked 7POCr were paid outside the dosing : Bray are shown here for adorm~onat purposes and are rot lnckj&d In ma totals. ie 398 (08o5385^..,--32) A. NAME AND ADDRESS OF BUYER E. NAME AND ADDRESS OF SELLER: F. NAME AND ADDRESS OF LENDER: Diane Wright and Doutsdre Bank National Trust Eugene Wright Company, as Trustee 15100 Strome Rd 10801 E. 6th SL S~ 130 Wayzata. MN 55391 Rancho G...d........a, CA 91730 G. PROPERTY LOCATION: H. SETTLEMENT AGENT: 41-1929678 I. SETTLEMENT DATE: 4416 - 6M Avenue North West Title, LLC Brooklyn Center. MN June 27, 2008 Hennepin County, Minnesota PLACE OF SETTLEMENT Lot 9, Block 1 11660 Wayzata Boulevard M4'rvretor". MN 55305 J. SUMMARY OF BUYER'S TRANSACTION K SUMMARY OF SELLER'S TRANSACTION 100. GROSS AMOUNT DUE FROM BUYEW 400. GROSS AMOUNT DUE TO SELLER 101. Contract Sales Price I 68.250.DO 401. Contract Sales Prix I 68.250.00 102. 7 : -.al Property I ! 402. Personal ProoMv i 103. Settlement Ch_ames to Buyer (tine 1400) ' 126.00 403. i 104. 1st Mortggage Pavoff I 4D4. I 105. I 405. AdUstrwrds For Hems Paid By Seger m advance 106. Association Dues to 107. County Taxes 06127/08 to 07101108 108. Assess Cart to Tax to 109. 110. 111. 112. 120. GROSS AMOUNT DUE FROM BUYER 200. AMOUNTS PAID BY OR IN BEHALF OF BUYER 2r'" -eposit or earnest money indpal Amount of New Loan(s) 2L _xistirw ban(s) taken subied io 204. 205. 206. 207. 208. 209. Seger Paid Closina Costs An(ushnents For Hems Unpaid By Softer 210. Association Dues to 211. County Taxes to 212. Assess Cert to Tax 07/01/08 to 01/01/09 x.213. 214. 215. 216. 217. 218. 219. 23.61 68,399.61 5.000.00 143.22 Aayusbnenb For hems Paid By Softer in advance 406. f - ' Son Dues to 407. CountvTa>~ 06127/08 to 07101108 408. Assess Cart to Tax to 409. 410. 411. 412. 420. GROSS AMOUNT DUE TO SELLER 500. REDUCTIONS IN AMOUNT DUE TO SELLER: 501. Excess Deposit (See Instructions) 502. Setilement Charges to Seger (Line 1400) 5D3. Existino ban(s) taken subiect to 504. Payoff of fast Mortgage 505. Payoff of second Mortoaue 506. 507. (Deposit dish. as , ..:.:s) 508. 509. Seger Paid C losina Costs An(usbnenis For Hems Unsaid By Salter 510. Association bum b 511. County Taxes to 512. Assess Cert to Tax 07101108 to 01101109 513. 514. 515. 516. 517. Escrow for Pro-Rub to West roe 518. Curative Fee to Fidelity National Default Systems 519. 220. TOTAL PAID BY/FOR BUYER I 5.143.22 520. TOTAL REDUCTION AMOUNT DUE SELLER 300. CASH AT SETTLEMENT FROMMO BAYER: 600. CASH AT SETTLEMENT TOIFROM SELLER 301. Gross Amount Due From Buyer (Line 120) 1 66.399.61 601. Gross Amount Due To Seller (Line 420) 302 Less Amount Paid ByfFor Buyer (Line 220) I( 5.14322 602 Less Reductions Due Seger (Line 5201 303. CASH ( X FROM) ( TO) BUYER 63.256.39 603. CASH ( X TO) ( FROM) SELLER 9ysiw0gpaps2ats*.,.. .r 3» sdagw dps mcWM da tae copyofpops i oftli's do papa OMB NO. M2-CM -Nr A 5.0(30NV.INS. 23.61 68,273.61 11.033.61 m 143.22 i I I I 2.500.00 I I 13,676.83 1 68.273.61 K 13,676.83 54,596.781 Review of 4416 69th Avenue North PID#27 119 21 33 0017 for Eugene & Diane Wright 2009 Board of Appeal and Equalization City of Brooklyn Center A Millennium Community TO: 2009 Brooklyn Center Local Board of Appeal and Equalization RE: Eugene & Diane Wright 4416 69th Ave N. Brooklyn Center, MN 55429 Mr. Wright contacted our office by phone on April 6, 2009 regarding his property at 4416 69th Ave N. Mr. Wright indicated that he had not received his 2009 tax statement or valuation notice. Assessing staff explained to Mr. Wright that the Assessor's office had not received a copy of a Deed or Certificate of Real Estate Value indicating a change of ownership. The current owner of record at the city and Hennepin County as of April 6, 2009 was Deutsch Bank National Trust. Mr. Wright stated that he had purchased the property June 27, 2008. Mr. Wright was told that a document of ownership would be required so the Assessor's office could verify that he was the owner of record. A copy of the ownership documents was provided on April 15, 2009. Mr. Wright was given the 2009 estimated market value of $128,900 for his property at 4416 69th Ave N. He stated that he had concerns with the value and was mailed sale information and an appeal application. Mr. Wright's appeal application was received on April 9, 2009, with his opinion of market value at $88,100. Mr. Wright has not provided any market documentation. The subject property is an 832 sq, ft, rambler home, with a single attached garage. Mr. Wright purchased the property June 27, 2008 for $68,250 at an auction. The property was taken by Sheriffs sale in February, 2008. Permit records indicate one permit for siding, doors and trim in October, 2008. A listing of open market rambler sales of homes similar in size and location has been included as reference material. On April 20, 2009 the Local Board of Appeal and Equalization directed the Assessor's office to contact Mr. Wright to schedule a review of the property. The Assessor's office made attempts to contact Mr. Wright on April 21, 23, and 28, 2009 to set up an appointment. Mr. Wright was not available and messages were left to notify Mr. Wright that an appointment was needed to review the property. On April 29, 2009, Mr. Wright called our office and scheduled an appointment for Thursday, April 30, 2009. An appraiser from the Assessor's office reviewed the property located at 4416 69th Avenue North on April 30, 2009. Mr. Wright's property was assumed in the last quintile review. The last interior inspection of the property was June 27, 2002. The subject property has new windows, siding, and a new furnace. There are wood floors in the living room, bedrooms, and a built in cabinet in the living room. The bathroom has new fixtures and the owner will be replacing the stool fixture. The kitchen is presently under renovation. Kitchen has new lighting and a new dishwasher. The basement finish includes paneling, a tile ceiling and painted concrete floors. After physical review of the property a change was made to the percent of 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 basement finish. After updating the characteristics of this property the calculated 2009 estimated market value is $127,600. The enclosed grid compares this home to open market rambler properties that sold within the state study period. In reviewing the sales of comparable properties, Mr. Wright's adjusted 2009 estimated market value of $127,600 falls within the indicated range of adjusted sales. The enclosed grid indicates a value range for the subject property of $124,300 to $147,700. It is the staff's recommendation to reduce the 2009 estimated market value of $128,900 to $127,600 for taxes payable in 2010. Respectfully, V-1z A-, Nancy Woj k, SAMA City Assessor SUBJECT PROPERTY 4416 69`" Ave No Eugene & Diane Wright PID# 27 119 21 33 0017 Land Characteristics Land Area 9,374 sq. ft. 2009 Land Value $ 58,900 2009 Building Value 70,000 TOTAL 2009 EMV $128,900 as submitted Building Characteristics Style: Rambler 832 sq. ft. Main Level Room Count: 4 / 2 / 1 Full Bath Below Grade Room Count: 1 / 0 / 0 Garage: 1 Car Attached Fireplace: None Porches/Decks/Misc.: Deck Central Air Conditioning: CAC Hennepin County Property Map - Tax Year: 2009 'fhb data contained on this page is derived from a compilation of records and maps and may contain discrepancies that can only be disclosed by an accurate survey performed by a licensed land surveyor. The perimeter and area (square footage and acres) are approximates and may contain discrepancies. The information on this page should be used for reference purposes only. Hennepin County does not guarantee the accuracy of material herein contained and is not responsible for any misuse or misrepresentation of this information or its derivatives. 142.48 6920, .6921 N g 6915 MA UR 6914 Nl` 75 ? 54.1 6901 W ft 04 1 t1 4416 4408 8 6900 9}' ~ r 76 76 69TH AVE N - 6845 6848 Selected Parcel Data Date Printed: 4/29/2009 3:55:23 PM Parcel ID: 27-119-21-33-0017 Current Parcel Date: 4/3/2009 Owner Name: DEUSTCHE BNK NTL TRST CO TR Parcel Address: 4416 69TH AVE N, BROOKLYN CENTER, MN 55429 Property Type: RESIDENTIAL Sale Price: $71,400.00 Homestead: HOMESTEAD Sale Date: 10/1997 Area (sgft): 9374 Sale Code: WARRANTY DEED Area (acres): 0.22 A-T-B: TORRENS Market Total: $153,100.00 Tax Total: $1,950.54 City of Brooklyn Center PID: 27-119-21-33-0017 Property Type: R - Residential Value Info: Residential Field Card Property Address: 4416 69th Ave N Zoning: R1 YearNersion: 2009/ 1 Printed: 04/30/2009 Lot / Block: 009 / 001 Dwelling Type: Single Family Land: , 58,900 Assessment Year: 2009 Addition: Sunset Manor Owner(s): Eugene Wright Bldg: 70,000 Version: 1 District: Diane Wright Total: 128,900 Neighborhood: 0051 Exterior 1 Exterior 2 Basement 1st Floor 2nd Floor 3rd Floor Totals Model: Garage #1 Area (SgFt): 832 Kitchen Rtg: Standard Interior: Interior: Res. Cond: Good Placement: Attached Type: Regular Interior: Plaster Trim: Trim: Dwell Type: Single Family # of Cars: 1 Finished 50 Trim: Softwood Floor: Floor: Int. Layout: Standard Floor Area: 240 Quality: Average 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: Vinyl Fpic. Quality: # of Fireplaces: Fpic. Quality: Fpic. Quality: View: Negative Avg. Clear. Height: Fpic. Quality: Actual Age: 1954 Elec. Svc: Standard Arch/Appeal: Average Garage #2 Htg: Forced air, gas fired Effective Age: 1985 Walkout: Quality: B07 Placement: Walkout Quality: 1st Baths (#/Quality) 2nd Baths (#/Quality) ird 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 1/2: / 1/2: / 1/2: / Construction: Wood Frame Porch Basement Baths (#/Qual.) Building Areas Spa: Exterior Walls: Vinyl Glazed Area: Dix: 1st Roam Count 2nd Room Count 3rd Room Count Unfin. 1st GBA: Quality: Full: ! Bedrooms: 2 Bedrooms: Bedrooms: Unfn. 2nd GBA: Exterior Trim: Screened Area: 3/4: / Baths: 1 Baths: Baths: Unfn. 3rd GBA: Quality: 1/2: / Family: Other: Other: Unfin. Total GBA: Roof Type: Gable Open Area: Living: 1 Total Rooms: Total Rooms: Quality: Dining: 1st Floor Area: 832 Roof Cover: Shingles Basement Room Count Kitchen: 1 2nd Floor Area: Bedrooms: Other: 3rd Floor Area: ' Window Type 1:Doubie Hung Patio Baths: Total Rooms: 4 Total GBA: 832 Patio 1 Area: Family: 1 Window Type 2: Quality: Kitchen: Flat Value Patio 2 Area: Other: Value: 1,500 Air Conditioning: Central Quality: Total Rooms: 1 Desc: Other Total Rooms Dormer Length: Deck Bedrooms: 2 Last Sale Last Inspection Current Inspec tion Baths: 1 Dormer Quality: Deck 1 Area: Quality: 150 Fair Date: 10/01/1997 Appraiser ID: 18 Appraiser ID: Family: Living: 1 1 # Patio Doors: 1 Deck 2 Area: Price: $63,900 Appraisal Date: 04/30/2009 Dining: 0 Quality: Code: 99 Reason: Board of Review Appraisal Date: Kitchen: 1 Desc: Conversion-X Sales Result: Interior Other: 0 Last Interior Inspection: 04/30/2009 Reason: Total: 5 Pool Pool 1 Area: Result: Quality: Left Tag: Yes / No Pool 2 Area: Quality: Comments CENTURY=F Newer garage door. Assumed 2007. Ext only. 08PERM/SIDING. 2009 Appeal Presently updating kitchen area. New lig hting Amenities and new dishwasher. Bathroom has new fixtures & will be re placing stool. New furnace and water heater. Bryant = F New windows and siding in 2008. Wood floors in living room and bedrooms and a built in cabinet in living room. Bsmt has paneling, tile ceiling and cement floors. RVShower=FC City of Brooklyn Center PID: 27-119-21-33-0017 Property Type: R - Residential Residential Field Card Property Address: 4416 69th Ave N Zoning: R1 Printed: 04130(2009 Lot I Block: 0091001 Dwelling Type: Single Family Assessment Year: 2009 Addition: Sunset Manor Owner(s): Eugene Wright Version: 1 District: Diane Wright Neighborhood: 0051 , w W Atbibut~~ Land Type: Standard Lot Frontage: Park: Gas Land Quality: B05-Land Left Side: Park Quality: Paved Street Area Rating: Very Good Rear Side: On Lake: Sewer Available Site Rating: Fair Right Side: Lake Quality: Water Available Zoning: R1 Effective Width: 75 On River: Contamination: Effective Depth: River Quality: Flood Plain Map Ref: Effective Water: Landscape Quality: Average PUD Ref: Property Area (SgFt): 9,374 Allowable Units: Acreage: 0.22 Not Buildable: N Excess Land (SgFt): Adjacent Owner: N Usable SgFt: Flood Plain: N Flat Desc: Zoning Variance: N Flat Amount: Manual Land: N 32' in r~ Basement s" 632' V' 32' 32' M Sketch by Apex IV- influences Thru Street First Floor 632' 32' Value Info: YearNersion: 20091 1 Land: 58,900 Bldg: 70,000 Total: 128,900 Building Dime nsions Length Width Sq Ft 32 26 832 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14' Deck 196' 12' 14' Garage -c°u rn 240' cv 12' ` Page: r Report Name: permit List uter City of Broo~Ln List C perms N 4416 69th Ave work'Fv'tg p S ib-T e ermit List tor: Replace r tt er le Family Residential Sing nut Building BC036888 Permit Count: 1 Do ition Replace siding, replace front and back door & trrm tssue~l Date t e 10/2112008 value Fin 1 D $12,500 0412812009 Mer - +4 Cif °f Br°°kn lnquiry z~de ISS ,,,0r u't 55429 Name: Assessor 1n4u'r`f D g~, N Reporte 4 1 Y N Y r guil Street Ne N Y Y W ater h d 1954 ist 14 HO° Nbr 69th A Y C de S h2 027 p14 la PI 4416 Fir t am N Eugene Ow 2~-119-'21-13 e Ronl 0 D' -0011 Are P Rem N c0 r R .22 S N 100 Dane PrO r Mid N uuoi m E e th ~ 9,314 a Ga H1 N 1l R 100 wri ide mow.- '-111 0 k 1 1,289 N R N ht i 1 hp 15 h Value of 129190 Q 531 Y N wr'g e t 1 0 153,100 1'53 t r " Val ld ~p 000 0 1'i5,300 _ a a #5jlb_s 6$ 200 91 Oqfj(j QQ t ° 2009 1 1 59300 d. Sunset Manor 2008 1 1 Ad rtion= BIOCk: ~ NO 1 001 f. Lot: 009" isEs' WL~ ski i. ~ ~ Oft- ~ "F'tf~'.~ yyi++6 r {~6 ~ ' « ~ . ~~:j •jk;.xi.-® ~+;p~.~ it ice...: F } Property ID House# Street Name 27-119-21-33-0017 Address: 4416 ingle PID ~1 Parcel Search 2 Clear I 3 Print I Unit 3 Phato(s) on file , 1* 1 Sketch(es) on file View Photos Today's date: 04130/2008 Release: 1.05.02G Lagged on n user: : K CASTO FAssessina - Karen Casto fPDS Parcel Status: ACTIVE i Last Appraised Year L ' LMV Update Tax Capacities Update I_=_? Sales Administration Sales Information Sales Ratios Comparables Informati M nMax_Codes Pr ice/T ime Adjustmen Weight Parameters Comparables Batch U )Ej Property Characteristics " " Land Inspections Residential Commercial ! Industria h ulti-Family F eld Card Print E-J" CAMA CAMA Inquiry Mar ;et Value Resider ` Mar cet Value Commer Market Value Multi-Fa " Rate Tables - Land Rate Tables - Resider LAMA - Land CAMA - Residential 3 Special Assessments Search Master Information Comments Mass Add Mass Comments Updt ` Mass Payoff Nnmher F'nnvev~inn Assessment Year: 2009 Building I Land Summary Dwelling Type: Single Family Total GBA: 832 Basic Rate: $54.84 Adjusted Rate: $55.38 Adj. Rate x GBA: $46,076 Adjusted Total: F $54;396 ManualAssessment F ManualLandr f- Quality: g07 Style: One Level/Rambler Age: 24 Zoning: R1 Ext. Wall X 0.0 Shape X 1.0 Add Basement: $8,320 = 832 SgFt @ 1$10.00 Ded. Unf.GBA: $0 = l 0 SgFt @ 1$30.00 Additive Amount: $21,352 Garage: $4,032 Dormers: $0 Walkout: $0 Air Cond- $1,800 Patios: $0 Porches: $0 Baths: $5,500 Fireplaces: $0 Total Cost: $75,748 Adjustments 5.1: 7.5 Depreciation 6.5 Influences .1.0 Functional X 1 0.0 Economic X 010 Building Value: $70,000 Flat Values: $0 Patio Doors: r- $500 Decks: ] $784 Pools: $0 Fin. Bsmt: $8,736 Kitchen: $0 CAMA Bldg. Mkt. Value: $70,000 Land Mkt. Value. $58,900 Total Mkt. Value: $128,900 EJ Parcel Administration i . Parcel Information ° Assessor Comments Parcel Divisioning Temporary PID Updat Project Update Assessor Inquiry Taxpayer Inquiry O -E3 Administration Values Information Hennepin County Trar Homestead Update Last Appraised Year L LMV Update Tax Capacities Update O •E]l Sales Administration Sales Information Sales Ratios Comparables Informati MinMax Codes Price/Time Adjustmen Weight Parameters • Comparables Batch U 81,~Ej Property Characteristics Land Inspections ' Residential Commercial) Industria Multi-Family Field Card Print CAMA CAMA Inquiry Market Value Resider Market Value Commer 'I. MtrkPtValiip Mijlfi-Fa . Assessment Year: 20091 Manual Assessment: r- Manual Land r Building Land S ummary Dwelling Type: S "gle Family Quality: B [ 7 Style: One LeaellRambler Total GBA: 832 Age: a24 Zoning: R1 Basic Rate: $54.84 Adjusted Rate: $55.38 Ext. Wall X 0.0 Shape V 1.0 Adj. Rate x GBA: $46,076 Add Basement: $8,320 = 832 SgFt @ 1$10.00 Ded. Unf.GBA: $0 = 0 SgFt @ 1$30.00 Adjusted Total: $54,396 A+dditiyeAmount $18,256 - > Garage: F $4,032 Dormers: $0 Patio Doors: $500 Walkout: $0 Air Cc n& $1,800 Decks: $600 Patios: $0 Porches: $0 Pools- $0 Baths: $5,500 Fireplaces: $0 Fin.Bsmt: $5,824 Total Cost: $72,652 Kitchen: $0 Adjustments -7.5 Depreciation' 4: -G-5 Influences 1.0 Functional 0.0 Economic X 0.0 Bui ding Value: $67,200 Flat Values: $1.500 CAMA Bldg. Mkt. Value: $68,700 Land Mkt. Value: $58,900 To al Mkt. Value: I $127,600 RESIDENTIAL SALES COMPARABLE ADJUSTMENT GRID APPRAISAL OF NAME ADDRESS PID Property Photo SALE PRICE Financing Adjustment Sale Price (Adjusted for Finance) SALE DATE Sale Price (Adjusted for Time) LOCATION SITE STYLE average growth from 2008 to 2009 annually -12% _ SUBJECT COMP. #1 Eugene IS Diane Wright 4416 Sett Ave N 7200 Major Ave N 27419-2133-0017 27-119-21-32-0037 y - < t z ri I $153,000 ($4,600) $148,400 Sep-08 ($4,500) SIZE (s.f.) Above Grade Room Count I BR ABOVE GRD BATHS YR BLT / EFF AGE oUALITY/COND N FIREPLACES HEAT / AIR C. BSMT BSMT % FIN / RMS I BATHS GARAGE 1fVcars) AMENITIES OTHER OTHER Net Adjustment Indicated Value 4416 69th Ave N Brooklyn Center PID# 27-119-21-33-0017 COMP. #2 4717 Azelia Ave N 10-118-21-32-0023 COMP. #3 COMP. #4 NAME 6907 Newton Ave N ADDRESS 26-119-21-43-0029 PIG 3631 Violet Ave 27-119-21-42-0108 $141,700 $158,000 ($8,500) $133,200 Apr-08 ($10,700) $158,000 Oct-07 ($21,100) $143,900 $122,500 $136,900 Average Average Avenge Average 9,374 sq.ft. 11,180 sq. N 11,839 sq. R 10.043 w. tL Rambler Ramber Rambler Rambler 832 sq. ft.1412 996 sq. ft.1513 ($4,100) 768 sq. ft.1412 $1,600 960 sq. ft.1513 ($3,200) 1 Full 1 Full 1 Full 1 Full 1954 1958 1955 1958 Average/Good Average/Good Average/Good Average/Good None None None None GFA/CAC GFAICAC GFAICAC GFA/CAC Full Full Full Full 50%/None 751/61314 Bath ($10,600) 50%1 None $1,000 No Finish/No Baths $4,900 1 Car Attached 2 Car Detached ($4,000) 1 Car Detached 2 Car Detached ($4,000) Deck None $600 None $600 None $600 Thru Street No influence ($1.5001 Commeriea0lndustrial Influence No influence ($1.500) -13.62% ($19,600) 2.61% $3,200 -2.34% ($3,200)) $124,300 $125,700 $133,700 I °-w J ~ ss~~ f t Property Photo I'r~i ~ ■BtW# =y Lt ti.» $161,500 SALE PRICE Financing Adjustment Sale Price $161,500 (Adjusted for Finance) May-08 SALE DATE Sale Price $161,500 (Adjusted for Tine) Average LOCATION 11,250 an. K SITE I FRONTAGE Rambler STYLE 912 sq. ft.1512 ($2,000) SIZE (s.f.) Above Grade Room Count I SR 1 Full ABOVE GRID BATHS 1954 YR BLT I EFF AGE Average/Good DUALITYICONDITION None N FIREPLACES GFA/CAC HEAT I AIR C. Full BSMT 75%/ FUII Bath ($10,300) BSMT FIN. ROOMS 1 Car Detached GARAGE tecers) AMENTIES Deck REMODELING No kdluence ($1.500) OTHER -8.64% ($13,800) Net Adjustment $147,700 Indicatetl value M Valuation Reconciliation: Value Ranoe $124.300 to 5147.700- Recommendation: Reduce EMV from 5128.900 to 5127.600. I COMMENTS The subject property is located at 4416 69th Ave N. The subject property is located on a thru street and is receiving a negative influence to account for heavy traffic levels. The subject property is a 832 sq. ft. rambler built in 1954. An interior review of this property was completed on April 30, 2009. The subject property has new siding and new windows in 2008. Home also has a new furnace and water heater. Home has wood floors in living room and bedrooms and a built in cabinet in the living room. Bathroom has new fixtures and owner will be replacing stool. Basement has paneling, ceiling file, cement floors and a shower. After reviewing the subject property an adjustment was made to the basement finish. This adjustment reduces the 2009 estimated market value by $1,300. It is the staffs recommendation to reduce the 2009 estimated maket value from $128,900 to $127,600 for taxes payable in 2010. G:tSOAROl20a9tKamnl[441649thAV NBOARD Grid 09 maste-1-juse this 09 04/30/2009 r• A. I1 Or N rM A. At ~ P~ 1c .,w Bow ° mti~r A too "Comp 4 19 -14 l~rl1 ` 6TmAv.v " r a z 4F s±e Ave As* Or Oft A" $4 *v*m IW 1C ' Ask! N ~ Garclvrr ~ Park "m I n V* Ave N 7C s ~ z ~ 104 5G S6tPa Aw N FO %t ti ova • tM . 9+lah krw K Ltrid ~ ~ x'!~f Aw +'i m "20W Am* a SW4 Ave $lotA00N 4514#Avr G p raw N $ Q Z ,7 !1 W* Ate ?k ~ 14gk Av. v ~ ~ ewe ~ Z -y,b vJ t X11 4m /frank Zaws w _ ~ 47>ay Aw N ~ ~ ~ i J Z r~ a ~ laafr ~ ~ ~ tr 4" Avs 1% t L yid AaM► p. ` w A..,; QW, TKeR fk 'Pa Y~Id#fYX low ""0 +t Avkt lE E cwt E Awk P1 ar # 9 NAYTC " COMPARABLE SALES MAP COMPARABLE #1 7200 Major Ave N, Brooklyn Center COMPARABLE #2 4717 Azelia Ave N, Brooklyn Center COMPARABLE #3 3631 Violet Ave N, Brooklyn Center COMPARABLE #4 6907 Newton Ave N, Brooklyn Center City of Brooklyn Center A Millennium Community TO: 2009 Brooklyn Center Local Board of Appeal and Equalization RE: Mr. Leo Schultz 331863 rd Ave N. Brooklyn Center, MN 55430 Mr. Schultz walked into our office regarding his 2009 valuation notice on April 10, 2009. His concern was the 2009 estimated market value of $150,200 on his home located at 3318 63rd Ave N., Brooklyn Center. Mr. Schultz was directed to complete an appeal application, if he intended to appeal his property valuation. Mr. Schultz indicated on his application that a new bus line on 63rd Avenue that includes a bus stop in front of his house, contributes to additional noise, vibration, litter and pedestrians. In addition, there has been an increase in the use of a commercial property next'door to his property that has also caused additional litter, noise and deliveries. Mr. Schultz was informed at the time that his property was receiving a negative influence for the busy road. Due to the receipt of this application on April 10, 2009, we were unable to complete a formal review of the property prior to the board. Mr. Schultz did not provide us with his opinion of market value, and did not provide any market documentation. Mr. Shultz's property is a 1,056 sq, ft. split level home, with a single tuck-under garage. Mr. Schultz purchased the property in June, 1987 for $74,900. Permit records indicate one permit for a re-roof in 1994. There were no open market sales of split level homes for the 2009 assessment. A listing of all residential open market sales of homes similar in size and located within the same neighborhood has been included as reference material. Mr. Schultz was contacted by phone April 21St, 2009 regarding the board's directive to obtain an interior review of the property in order to continue with the 2009 appeal of his home. During this phone conversation, Mr. Schultz verbally withdrew the appeal of his 2009 estimate of market value on his home at 3318 63rd Ave N. It is the Assessor's recommendation to sustain Mr. Schultz's 2009 estimate of market value at $150,200. Respectfully, e Nancy Wo"cik, SAMA City Assessor 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 Report Name: Assessor Inquiry City of Brooklyn Center Printed: 4/15/2009 Page: I Assessor Inquiry Display P1D House Nbr Street Name Unit Zip Code (±4), 34-119-21-41-0016 3318 63rd Ave N 55429 Last Name First Name M1 O wner Taxpayer Resident Nelson Craig I Y Y Y Schultz Leo J Y Y Y Frontage Left Side Re ar Side Right Side Eff. Width Eff. Depth ro rtv Area Acreage Zoning P/S Exemot Code School Dist Watershed Yr Built 82 130 82 130 0 0 10,660 0.00 R1 0279 14 1958 Year Ver #Subs Land Value Bldg Value Mach Value Tot Mkt Value Tax Cap Hmstd Midvr Rel H P/-T %Own P/C 2009 1 1 58,900 91,300 0 150,200 1,502 Y N N R 100 N 2008 1 l 61,700 107,000 0 168,700 1,687 Y N N R 100 N 2007 1 1 57,800 124,800 0 182,600 1,826 Y N N R 100 N Lot: 016 Block: 001 Addi tion: Garden City 2nd Addition Property ID Hause# Street t+lame Unit j 1 Photo(s) on file Today's date: 4115!2000 Release: 1 05 02G 34-119-21-41-0016 I Address: 3318 G #fd have N 1 Sketch(es) on file . . Lagged on user: NWOJCIK " fAssessina -Nancy Woicik (PD Single PID 1 Parcel Search 2 Clear I 3 Print 4 View Photos Parcel Status: ACTIVE Project Update I . , ssessor Inquiry A CAMA Inquiry Taxpayer Inquiry arcel Mass Update Assessment Year: 009 " „ Assessment Manual Lanct Manual" . EJ Values Administration - Values Information Building ~ Land ~ S mmary Hennepin County Trar'. Homestead Update Dwelling Type: Single Family ,quality` Skyle: ' B07 ,Split Level r Homestead Rollover Total GBA: 1056. Age 24 Zoning: R1 Last Appraised Year L' " LMV Update Basic Rate: µ SSN Future to Current; „ Adjusted Rate:.: . _ . :$58.88 Ei{t; 4Valli:" O0 Shape 00 . Tax Capacities Update;:; TOH Update Adj. Rate 177.:. $62 Add Basement'': . . _''"$10,OB0 1008 Sql t @ $10.00 Value Notice File " Ded Unf.GBA . 0 $30.00 T $0 ~ 0 SgFt Values Mass Update Sales Administration Adjusted T otol: $72,257 , Sales Information Sales Ratios AddjtiveAmvunt: _$26496 Garage::,; -:;:;$:410:.;;' Datiners: $0 Patio Doors:. „ $0: Compafables Informati: MinMax_Codes Walkout $0 Air Gond: $0 necks: $Q Price/T ime Adjustmen- Patios: rehes: . " $0 Pools: $0 Weight Parameters , Comparables Batch U'' Baths: 0 $9 000.. Fireplaces' ~ $ FinBsmt: $12,096 ~ f-I Property Characteristics Total Cost' $98,753 Kitchen: $0 " CA CAMA ~ CAMA Inquiry .,8 Adjustments 7.5 --5:. Depreciation, 4`. -6:5:::.<: , " . I nfluances 1 0 . Market Value Resider. ,e ~ • y Market Value Commet nal % Functiv Conomic [i B 0 0 Market Value M ulti-Fa Rate Tables Land - Buildin Value: 9 $9]>3Q0 CAMA Bldg. Mkt. Vahie: $91.300 Rate Tables - Resider COMA - Land Flat Values: $0 Land Mkt. Value: $58,900 CAMA - Residential Total Mkt. Value: $150,200 r1 SnPri.~l A~cPSSmwnts ` ,,...y . y.. , Residential Field Card Property Address: 3318 63rd Ave N Printed: 4/15/2009 Lot / Block: 016 / 001 Assessment Year: 2009 Addition: Garden City 2nd Addition Version: 1 District: Bedrooms: Baths: 1 Family: 1 Kitchen: Other: Total Rooms: 1 Neighborhood: 0053 Exterior 1 ' Exterior 2 Aasement 1st Floor 2nd Floor Model: Garage #1 Area (SgFt): 1,008 Kitchen Rtg: Standard Interior: Placement: Tuck Under Type: Regular Interior: Sheetrock Trim: Dwell Type:. Single Family # of Cars: 1 Finished 50 Trim: Softwood Floor: Floor Area: 288 Quality: Very Good Floor: Carpet Avg. Clear. Height: Adjacent Property: Equal Condition: Very Good # of Fireplaces: Avg. Clear. Height: # of Fireplaces: Exterior Walls: Other Fplc. Quality: # of Fireplaces: Fplc. Quality: View: Negative Avg. Clear. Height: Fplc. Quality: Elec. Svc: Standard Arch./Appeal: Average Garage #2° Htg: Forced air, gas fired Walkout: Quality: B07 Placement: Walkout Quality: # of Cars: Shape: Square Floor Area: Condition: Style: Split Level Exterior Walls: Basement Baths (#/Qual.) Construction: Wood Frame Perch. - / Spa: Exterior Walls: Wood Glazed Area: Quality: Dix: ! / Full: Exterior Trim: Screened Area: 3/4: / Quality: 1/2: 1 / Average Roof Type: Gable Open Area: Quality: 9OAement Room Count Roof Cover: Shingles Patio Window Type 1: Casement Patio 1 Area: Window Type 2: Quality: Patio 2 Area: Air Conditioning: No Quality: Dormer Length: Deck Dormer Quality: Deck 1 Area: Quality: # Patio Doors: Deck 2 Area: Quality: Pool Pool 1 Area: Quality: Pool 2 Area: Quality: Amenities Zoning: R1 Dwelling Type: Single Family Owner(s): Craig I Nelson Leo J Schultz 3rd Floor Interior: Trim: Floor: Avg. Clear. Height: # of Fireplaces: Fplc. Quality: 1st Baths (#Aluallty) 2nd Baths::(#/Quality) 3rd Baths (Muality) Spa: / Spa: / Spa: / Dix: / Dix: / Dix: / Full: 1 / Average Full: / Full: / 3/4: / 3/4: / 314: / 1/2: / 1/2: / 1/2: / 1st Room Count 2nd Room Count 3rd Room Count Bedrooms: 3 Bedrooms: Bedrooms: Baths: 1 Baths: Baths: Family: Other: Other: Living: 1 Total Rooms: Total Rooms: Dining: Kitchen: 1 Other:. Total Rooms: 5 Flat Value Value: Desc: Mast Sale Last Inspection Date: 06/01/1987 Appraiser ID: 21 Price: $74,900 Appraisal Date: 08/22/2005 Code: 00 Reason: Quintile Review Desc: Good Sale Result: Interior Last Interior Inspection: 08/22/2005 Current Inspection Appraiser ID: Appraisal Date: Reason: Result value into: Year/Version: 20091 1 Land: 58,900 Bldg: 91,300 Total: 150,200 Totals Res. Cond: Good Int. Layout: Standard Manual Assess: N Actual Age: 1958 Effective Age: 1985 Renovated Age: Functional Economic building Areas Unfin. 1 st GBA: Unfin. 2nd GBA: Unfin. 3rd GBA: Unfin. Total GBA: 1st Floor Area: 1,056 2nd Floor Area: 3rd Floor Area: Total GBA: 1.056 Total Rooms Bedrooms: 3 Baths: 2 Family: 1 Living: 1 Dining: 0 Kitchen: 1 Other: 0 Total: 6 Left Tag: Yes / No Comments GLASS BLK BSMT WINDOWS. ORIG WINDOWS, NO WRAP. BSMT FIN PANELING, TILE FLR, NO CEILING=VG FOR DAYLIGHT. MAIN BATH ORIG PLASTIC TILE. EAT IN KITCWORIG IN GOOD COND. #-ny or urOOKtyn tenter riu. J4- ra-41-41-vv w , Residential Field Card Property Address: 3318 63rd Ave N Printed: 4/15/2009 Lot / Block: 016 / 001 Assessment Year: 2009 Addition: Garden City 2nd Addition Version: 1 District: Land Land Type: Land Quality: Area Rating: Site Rating: Zoning: Contamination: Flood Plain Map Ref: PUD Ref: Allowable Units: Excess Land (SgFt): Usable SgFt: Flat Desc: Flat Amount: Neighborhood: 0053 Land Land Standard Lot Frontage: 82 Park: B05-Land Left Side: 130 Park Quality: Very Good Rear Side: 82 On Lake: Good Right Side: 130 Lake Quality: R1 Effective Width: On River: Effective Depth: River Quality: Effective Water: Landscape Quality: Property Area (SgFt): 10,660 Acreage: Not Buildable: Adjacent Owner: Flood Plain: Zoning Variance: Manual Land: ;r CV ;r N Zoning: R1 Dwelling Type: Single Family Owner(s): Craig I Nelson Leo J Schultz Attributes Curbs Gas Paved Street Sewer Available Sidewalk Water Available Average N N N N N 44' First Floor 1058 44' 44' ififluences Thru Street ;r CV Witu gar to Basement Garagec 4 04 1008 284 12' 20' 24' value nnu. YearNersion: 2009 ! 1 Land: 58,900 Bldg: 91,300 Total: 150,200 Building D ime nsions Length Width Sq Ft 20 24 480 24 22 528 24 2 48 0 0 0 0 0 0 0 0 0 0 0 0 Sketch by Apex IV"" City of Brooklyn Center Assessor's Office Comparable Sales - All Styles Bsmt Central Porch Total Total Sale Subject Property Style Age FF Area GBA Bsmt Area Finish Garage Location # Cars Air Deck Area Area Bdrm Baths Date Sale Price 3318 63rd Ave N. Split Level 1958 1056 1056 1008 50% Tuck Under 1 No 3 2 06/01/1987 $74,900 Brooklyn Center, MN 55430 Comparable Sales - All Styles No split Level Sales were available from 10/1/2007- 0913012008 Bsmt Central Porch Total Total Sale Cash Equiv. # Street Name Style Age FF Area GBA Bsmt Area Finish Garage Location # Cars Air Deck Area Area Bdrm Baths Date Sale Price 2800 Ohenry Rd Rambler 1957 1040 1040 1040 45% Attached 2 Yes 3 2 3/26/2008 $158,013 5900 June Ave N Rambler 1956 1042 1042 1042 50% Attached 1 Yes 3 1 4/25/2008 $150,000 3212 Quarles Rd Rambler 1960 1056 1056 1056 40% Attached 1 Yes 3 1 2/7/2008 $145,015 3606 61st Ave N Rambler 1955 1056 1056 1056 50% Attached 2 Yes 84 2 2 7/22/2008 $155,000 2806 Mumford Rd Rambler 1959 1056 1056 1056 50% Attached 1 Yes 3 2 8/4/2008 $143,100 5924 Beard Ave N Rambler 1955 1067 1067 976 75% Attached 1 Yes 166 2 2 9/2/2008 $185,000 5836 York Ave N Rambler 1960 1074 1074 1074 0% Detached 2 Yes 3 2 10/24/2007 $168,300 4012 Joyce La Rambler 1960 1081 1081 1081 75% Attached 2 Yes 2 2 6/19/2008 $188,000 5318 Howe La Rambler 1959 1105 1105 925 75% Attached 2 Yes 144 4 2 3/26/2008 $186,000 6342 Lee Ave N Rambler 1957 1111 1111 864 60% Attached 2 Yes 3 1 10/30/2007 $163,000 6606 France Ave N Expansion 1953 813 1113 - 813 40% Detached 1 Yes 3 2 10/26/2007 $160,000 6236 Scott Ave N Rambler 1958 1113 1113 1104 75% Detached 2 Yes 3 2 3/26/2008 $164,250 5306 Boulder La Rambler 1959 1152 1152 1152 80% Detached 2 Yes 210 3 2 7/25/2008 $178,500 6218 Kyle Ave N Rambler 1955 1161 1161 960 50% Attached 1 Yes 240 207 3 2 12/28/2007 $170,846 Avera ge Sale Price $165,359 Report Name: Sales Ratio Analysis City of Brooklyn Center Printed: 4/15/2009 Assessment Year: 2009 Page: 1 Version: I Sales Ratio Analysis User Name: N WOJCIK (2) Sales Ratio 10/1/2007 - 09/30/2008 Thru Street Infl Sales Ratio Dev Fr om Std Dev Ratio Sub# Sale Date P1D Dist Nbrhd Address Mkt Value Purch Price Ratio Rank Median Mean From Meng Code 33-1 19-21-42-0123 0053 5212 63rd Ave N 144,000 175,000 82.3 1 -12.3 -12.2 -1.71 00 10/26/2007 27-1 19-21-42-0022 0051 7100 France Ave N 135,100 150,000 90.1 2 -4.6 -4.4 -0.62 00 05/3012008 02-1 18-21-44-0071 0054 5300 Logan Ave N 129,500 140,900 91.9 3 -2.7 -2.6 -0.36 00 10/12/2007 33-1 19-21-42-0003 0053 5112 63rd Ave N 194,000 205,000 94.6 4 0.0 0.1 0.02 00 07/31/2008 36-119-21-31-0036. 0052 6414 Dupont Ave N 162,600 165,000 98.5 5 3.9 4.0 0.56 00 03/26/2008 01-1 18-21-21-0053 0054 6000 Dupont Ave N 152,700 149,900 101.9 6 7.2 7.4 1.03 00 07/28/2008 02-1 18-21-44-0076 0054 5455 Humboldt Ave N 183,200 179,100 102.3 7 7.7 7.8 1.09 00 06/30/2008 Arithmetic Average Values: 157,300 166,414 DECEIVED APR 10 W CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2009 Assessment APPLICATION FOR APPEAL March 19, 2009 through April 10, 2009 You must return this apalication by ADril 10.2009 to be placed on the Agenda for the Local Board of Appeal and Equalization April 20, 2009, 7:00 P.M. Name(s) ~ 1 /I/ F7 S Daytime Contact Number: (o 1-2 -70~V - 6--o-P Property Address , n4~7~96? 1,-1 e52047,40/ Property Identification Number Assessor's 2009 Estimated Market Value If What is the reason you are appealing your 2009 assessment? IT aL(- When did you purchase your h$~e? Date of Purchase A)/, 7 Purchase Price A)ZO41 Did you purchase your property from a bank, as a foreclosure or short sale? 11W Has your property physically changed since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. !1/1q Have you had a recent appraisal for refinancing, purchase or a market analysis by a real estate agent completed within the last year? Yes or C19 If so, what was the determination of value? I®r 4~ ° 1, What do you think the market value of your property should be? Please bring all documentation supporting your claim of overvaluation or erroneous classification to the Local Board of Appeal and Equalization. In order to appeal vour valuation an apvointment to view the vroverty will be reauired. Review Of 3600 Woodbine La PID#27 119 21 42 0032 For Steve Sines 2009 Board of Appeal and Equalization City of Brooklyn Center A Millennium Community TO: 2009 Brooklyn Center Local Board of Appeal and Equalization RE: Steve Sines 3600 Woodbine La Brooklyn Center, MN 55429 Mr. Sines appeared as a walk-in at the 2009 Board of Appeal and Equalization on April 20, 2009. He was concerned about the valuation of his property at 3600 Woodbine La. Mr. Sines property has a 2009 estimated market value of $171,100. The board directed Mr. Sines to make an appointment with an appraiser from the Assessor's office to review the interior characteristics of the property. An appraiser from the Assessor's office reviewed the property located at 3600 Woodbine La on April 22, 2009. Changes were made to the size of the first floor area and the basement bathroom quality. The property had been assumed from the last assessment cycle. After updating the characteristics of this property the new 2009 estimated market value is $170,800. The enclosed grid compares this home to open market rambler properties that sold within the state study period. In reviewing these sales of comparable properties, Mr. Sine's adjusted 2009 estimated market value of $170,800 falls within the indicated range of adjusted sales. The enclosed grid indicates a value range for the subject property of $168,600 to $184,900. It is staff's recommendation to reduce the 2009 estimated market value of $171,100 to $170,800 for taxes payable in 2010. Respectfully, Nancy Wojcik, SAMA City Assessor 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 SUBJECT PROPERTY 3600 Woodbine La Steve Sines PID# 27 119 21 42 0032 Land Characteristics Land Area 10,670 sq. ft. 2009 Land Value $ 58,900 2009 Building Value 112.200 TOTAL 2009 EMV $171,100 as submitted Building Characteristics Style: Rambler 1,154 sq. ft. Main Level Room Count: 5 / 3 / 1 Full Bath Below Grade Room Count: 2 / 0 / % Bath Garage: 1 Car Attached Fireplace: 1 Porches/Decks/Misc.: Walk out Central Air Conditioning: CAC t Hennepin County Property Map - Tax Year: 2009 The data contained on this page is derived from a compilation of records and maps and may contain discrepancies that can only be disclosed by an accurate survey performed by a licensed land surveyor. The perimeter and area (square footage and acres) are approximates and may contain discrepancies. The information on this page should be used for reference purposes only. Hennepin County does not guarantee the accuracy of material herein contained and is not responsible for any misuse or misrepresentation of this information or its derivatives. j » tiry , ~b 22 3618 t r'CID I 'V00 'i `A12, y~ ~ ft f 350 V 3 f i 3613 C' 0/ 3607 r 12 6 . r' ~r 3601 - t cs , 3519 7 _ _ 75.3 3513 3507 1. Selected Parcel Data Date Printed: 4/27/2009 8:15:21 AM Parcel ID: 27-119-21-42-0032 Current Parcel Date: 4/3/2009 Owner Name: STEVEN M SINES 3 Parcel Address: 3600 WOODBINE LA, BROOKLYN CENTER, MN 55429 Property Type: RESIDENTIAL Sale Price: $0.00 $ Homestead: HOMESTEAD Sale Date: / Area (sgft): 10670 Sale Code: Area (acres): 0.24 A-T-B: TORRENS Market Total: $197,900.00 Tax Total: $2,631.08 City of Brooklyn Center PID: 27-119-2142-0032 Property Type: R - Residential Value Info: Residential Field Card Property Address: 3600 Woodbine La Zoning: R1 YearNersion: 2009/ 1 Printed: 04/28/2009 Lot / Block: 008 / 001 Dwelling Type: Single Family Land: 58,900 Assessment Year: 2009 Addition: Palmer Lake Terrace 2nd Addition Owner(s): Steve Sines Bldg: 112,200 Version: 1 District: Total: 171,100 Neighborhood: 0051 Exterior 1 Exterior 2 Basement 1st Floor 2nd Floor 3rd Floor Totals Model: Garage #1 Area (SgFt): 1,uu0 Kitchen Rtg: Very Good Interior: Interior: Res. Cond: Good Placement: Attached Type: Regular Interior: Sheetrock Trim: Trim: Dwell Type: Single Family # of Cars: 1 Finished 75 Trim: Hardwood Floor: Floor: Int. Layout: Standard Floor Area: 294 Quality: Very Good Floor: Wood Avg. Clear. Height: Avg. Clear. Height: Adjacent Property: Positive Condition: Average # of Fireplaces: Avg. Clear. Height: # of Fireplaces: # of Fireplaces: Manual Assess: N Exterior Walls: Stucco Fplc. Quality: # of Fireplaces: 1 Fplc. Quality: Fplc. Quality: View: Positive Avg. Clear. Height: Fplc. Quality: Very Good Actual Age: 1958 Elec. Svc: Standard Arch./Appeal: Average Garage #2 Htg: Forced air, gas fired Effective Age: 1985 Walkout: Standard Walkout Quality: B07 Placement: Walkout Quality: Excellent 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 / Very Good Full: / Full: / Style: One Level/Rambler Exterior Wails: 3/4: / 3/4: / 3/4: / Economic Construction: Wood Frame Porch basement Baths (#/Qual.) 1/2: / 1/2: / 1/2: ! Building Areas Spa: / Exterior Walls: Stucco Glazed Area: Dix: ! 1st Room Count 2nd Room Count 3rd Room Count Unfin. 1st GBA: Quality: Full: / Bedrooms: 3 Bedrooms: Bedrooms: Unfin. 2nd GBA: Exterior Trim: Brick Screened Area: 3/4: 1 /Average Baths: 1 Baths: Baths: Unfin. 3rd GBA: 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: 1,154 Roof Cover: Shingles Basement Room Count Kitchen: 1 2nd Floor Area: Bedrooms: Other: 3rd Floor Area: Window Type 1: Double Hung Patio Baths: 1 Total Rooms: 5 Total GBA: 1,154 Patio 1 Area: Family: 1 Window Type 2: Casement Quality: Kitchen: FlatValue Patio 2 Area: Other: 1 Value: 500 Air Conditioning: Central Quality: Total Rooms: 2 Desc: SKYLIGHT Total Rooms Dormer Length: Deck Bedrooms: 3 Last Sale Last Inspection Current Inspection Baths: 2 Dormer Quality: Deck 1 Area: Quality: Date: 01/05/2001 Appraiser ID: 18 Appraiser ID: Family: Li i 1 # Patio Doors: 1 Deck 2 Area: Price: $1 Appraisal Date: 04/22/2009 v ng: Dining: 1 0 Quality: Code: 23 Reason: Board of Review Appraisal Date: Kitchen: 1 Desc: Sale < Min $ Amount Result: Interior Other: 1 Last Interior Inspection: 04/22/2009 Reason: Total: 7 Pool Pool 1 Area: Result: Quality: Pool 2 Area: Left Tag: Yes / No Quality: Comments MFSF. PORCH NOW APPEARS CONVERTED TO GBA W/GAS FPL, PATIO DR & SKYLIGHT. ORIG WINDOWS, NO WRAP, AVG. Amenities WALKOUT W/2 FULL SIZE WINDOWS & SERV DOOR. NEWER TIMBERLINE ROOF. 07ASMT/ASSUME NO RESP. NICE LOT Value Appeal 09 Kitchen updated in 2004. New kitchen cabinets, granite countertop, and new floor. 2002 Porch converted to family room has new gas fireplace, patio doors and skylig ht. Bsmt has paneling, tiled floor and ceiling in family room. Other bsmt room has pa neling, text ceiling and no floor finish. Backyard backs up to park/wetlands. Luxaire = F. City of Brooklyn Center PID: 27-119-2142-0032 Residential Field Card Property Address: 3600 Woodbine La Printed: 04/28/2009 Lot / Block: 008 / 001 Assessment Year: 2009 Addition: Palmer Lake Terrace 2nd Addition Version: 1 District: Neighborhood: 0051 Lands q Land, Labd: • -A Land Type: Standard Lot Frontage: Park: Land Quality: B05-Land Left Side: Park Quality: Area Rating: Very Good Rear Side: On Lake: Site Rating: Very Good Right Side: Lake Quality: Zoning: R1 Effective Width: 71 On River: Contamination: Effective Depth: 149 River Quality: Flood Plain Map Ref: Effective Water: Landscape Quality: PUD Ref: Property Area (SgFt): 10,670 Allowable Units: Acreage: 0.24 Not Buildable: Excess Land (SgFt): Adjacent Owner: Usable SgFt: Flood Plain: Flat Desc: Zoning Variance: Flat Amount: Manual Land: Property Type: R - Residential Zoning: R1 Dwelling Type: Single Family Owner(s): Steve Sines Attributes Wetland Gas Average Paved Street Sewer Available Water Available Average N N N N N 40' 14' First Floor 154- First Floor - 1000' Garage 40' 294' 14' 40" N Basemerd 1000" 40' Influences Value Info: Year/Version: 2009/ 1 Land: 58,900 Bldg: 112,200 Total: 171,100 Building Dimensions Length Width Sq Ft 40 25 1000 11 14 154 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Sketch by Apex IV^ of 13,roowxl Center City Permit List ReportName: Permit List BiNE LA 1 rkTyq9 List for 3600 WOOD - , RemodeltAlteration Permit L rml tial l &2 Family gesiden ily Addition P tt ~ tial single Fam Electrical geSiden BCO26"121 geplaee Building tial BC01915$ Residers plumbing BC008632 permit Count: 3 D 4 cMcjITSINEw P0,61- F PA1LY ROOM OD1PORC11 w AT'ER "EN'1ER t U01 -D 11 t-e $200 1ud oDge e 1011812005 $13,500 0311112005 0110912003 $500 0111012002 101231199? 091161199'1 Report Name: Assessor Inquiry City of Brooklyn Center Printed: 04/27/2009 Page: 1 Assessor Inquiry Disnlav PID House Nbr Street Name Unit Zip Code 27-119-21-42-0032 3600 Woodbine La 55429 Last Name First Name MI O wner Taxpayer Resident Sines Steve y Y Y Frontage Left Side Rear Side Right Side Eff. Width Eff. Depth Pronertv Area Acreage Zoning P/S Ex emnt Code School Dist Watershed Yr Built 0 0 0 0 71 149 10,670 0.24 R1 0279 14 1958 Year Ver #Subs Land Value Bldg Value Mach Value Tot Mkt Value Tax Cap Hmstd Midvr Re] H P/T %Own P/C 2009 1 1 58,900 112,200 0 171,100 1,711 Y N N R 100 N 2008 1 1 61,200 136,700 0 197,900 1,979 Y N N R 100 N 2007 1 1 58,300 151,000 0 209,300 2,093 Y N N R 100 N Lot: 008 Block: 001 Addi tion: Palmer Lake Terrace 2nd Addition r - . Property 1D tiouse# Street Name; Unit 1,Photo(s) on file Today's date: W2212009 J 17-119=21-42-0032 - A k-- ddress: 3600 gz : i ik l:. 3 1 Sketch(es) on file Assessor Comments on file Release: 1.05.020 Logged on user; 14CASTO 5 of 9 0 . 'I 1 Parcel Search 2 Clear 3 Print 4 View Photos fAssessina = Karen.Casto fPDS ' Parcel Status . ACTIVE Project Update _ "i i Assessorlnquiry W OMAN 46 Taxp 'ayer Inpuiry - Values Administration Assessment Year: 2009 " MenualAssessment ~ ManualLand: f Values Information Buifdin g L nd Summar r , Hennepin County Trat a ! Homestead Update Last Appraised Year L'' Dwelling Type: Single Family Qualityr: B07 Style: " One Level/Rambler: LMV Update Tax Cal Updat,,• Total GBA: 1140 Age= 24 won ing:R1 u Sales Administration Basic Rate: $53730.. $ales:lnformation Adjusted Rate: $54.59 ' Ext. Wall 2.0 Shape 1 0 Sales Ratios ...Comparables Informati: Ad i. RateG.BA $62,574 Add Basement: $10,000 . 1000 SqFt @ $10.00 MinMax_Codes P666/Ti6e Adjustmen ' Ded. Unf.GBA. - Q 0 SgFt. @ $30.00 Weight Parameters 4djusked Total; $721574 ; Compatables Batch U . Property Characterishcs Land ; AdditiueAro' unt: $44,390,. Garage: $4.860 Dormers: $0 Patio Doors $500 Inspections . Walkout: 16;500 Air Cond: $2.280 Decks: Residential Commercial l I ndustrie Patios: 0. Porches: $0 Pools: $0 i Multi Family . Baths. ' . ' $132000 Fireplaces: ' $3,000 Fin.Bsmt: ' $14,250 Field Card Print Total Cask; ~ $116,964 7, Kitchen: 40 A CAMA ...Z~, CAMA Inquiry . Market Value Resider Adjustments X 4.5 . Depreciation%; 6 5 - Influences • 2.0 Market Value Commer Functional % , 0:0 Economic 4: 0.0 MarketValue Multi-Fa Rate Tables - Land Rake Tables - Resider BuildingVaful $111,700 CAMA Bldg. Mkt. Value; $T12,200 CAMA - Land Flat Values: $500 Land Mkt. Value: $58,900 CAMA Residential Total Mkt. Value: $171,100 ~ Snari~lAssa~~mantc - - - Project U date Avessor Inquiry n ..W._..z Taxpayer Inquiry t Values Administration Assessment Year: 2009 IM, Values Information Hennepin County Trat Budding Land Summary " H.)mestead Update Dwelling Type: Sing le Family List Appraised Year L LMV Update Total GBA: 1154 Tax Capacities Updat, : - -7 ),zJ Sales Administration Basic Rate: $53.23 Saks Information Adjusted Rate: $54.62 Sales Ratios Comparables I nformati Adj. Rate ' G BA: 63,262 - F MinMax Codes Pricei rime Adjustmen Wei4t Parameters Adjusted Total: Comparables Batch U c~ E] Property Char Bc:eristics Additive Amount: Land inspections Residential Commercial J Industrit ML Iti-Family Fie d Card Print Total Cost: LAMA CAMA Inquiry Adjustments Market Value Resider Market Value Cormmer _ Market Value Mul:i-Fa Rate Tables - Lar d Building Value: Ra e Tabts - Resider Flat Values: ` CAV1A - Land CAMA - Residential ~.nPr;i~lAscr•::~smr~nrs $73,262 F $43,418 $116,680 4.5 F 111,400 $500 ManualAssessment F Manual Land F Quality: B 07 S4 e: 15ne LevellR ambler Age: 124 Zoning: R1 Ext. Wall 2.0 Shape X. 1.0 Add Basement: $10,000 = 1000 SgFt $10.00 Ded. Unf.GBA: $0 = f 0 SgFt @ $30.00 Garage $4,860 Dormers- $0 Patio Doors: $500 Walkout: $6,500 Air Cond. $2:308 Decks, $0 Patios: F $0 Porches: $0 Pools: $0 Baths: $12,000 Fireplaces: $3,000 Fin.Bsmt; $14,250 Kitchen: $0 Depreciation X -6.5 Influences x 2.0 Functional o: 0.0 Economic X 0.0 CAMA Bldg. Mkt. Value: $111,900 Land Mkt. Value: $58,900 Total Mkt. Value: $170,800 RESIDENTIAL SALES COMPARABLE ADJUSTMENT GRID APPRAISAL OF 3600 Woodbine La Brooklyn Center PID# 27-119-21-42-0032 NAME ADDRESS PID Property Photo SALE PRICE $199,900 $160,000 $205,000 $181,900 SALE PRICE Financing Adj,shnant ($6,000) ($3,000) Financing aljustmem Sale Price Sale Price [Adjusted ror Fkwnce) $193,900 $180,000 $205,000 $178,900 (Adwated for Finance) SALE DATE Nov-07 ($24,600) Sep-08 ($5,400) Jul-08 ($10,300) Aug-08 ($7,200) SALE DATE Sale Price Sale Price (Adjusted for Time) $169,300 $174,600 $194,700 $171,700 (Adjustedrornine) LOCATION Average Average Average Average Average LOCATION _ SITE / FRONTAGE 10,670 sq. ft 9,525 sa. n 12.975 ad. ?L _ 11,819 sy. tt _ 9.4126 sa. It SITE I FRONTAGE STYLE Rambler Rambler Rambler Rambler Rambler STYLE SIZE (s./.) Above Grade Room 1154 sq.111./513 1238 sq.11.1512 ($2,100) 1175 sq. ft.1613 1248 sq. ft./6/8 ($2,300) 1040 sq. W513 $2,900 SIZE (91.) Above Grade Room Count I BR Count I BR ABOVE GRD BATHS 1 FMII 1 Full 1 Fu111112 Bath ($2.5001 1 Full 1112 Bath 1$2.5001 1 Full )ABOVE GRD BATHS YR BLT I EFF AGE 1958 1964 1958 1958 1957 IYR BLT I EFF AGE QUALITYICOND Averaoe/Good Average/Good Average/Good Average/Good Average/Good IQUALITYICONDITION 9 FIREPLACES 1 None $2,000 2 ($2,000) None $2,000 None $2.0001# FIREPLACES HEAT I AIR C. GFAICAC GFA/CAC GFA/CAC GFAICAC GFAICAC HEAT I AIR C. BSMT Partial/1000 sq. ft. 1232 so. ft. Fu1111175 sq. ft. Full/1248 sq. ft. Fu1111040 so. ft. BSMT BSMT %FIN / RMS I BATHS 75%1314 Bath 75%61314 Bath ($2,600) 90%1314 Bath ($4,600) 75Y61314 Bath ($2,7001 75%1314 Bath BSMT FIN. ROOMS GARAGE (Scars) 1 Car Attached 2 Car Detached ($4,000) 2 Car Detached ($4.000) 2 Car Detached ($4,000) 1 Car Detached GARAGE bTHER Glazed Porch JW000) AMENTUES OTHER Park kdluence Park Influence None $2,300 Thru Street $3,500 _ None $2.300 OTHER OTHER walkout None $6,000 None $6,000 Walk Out None $6.000 OTHER Net Adjustment Net Adjuabnent 1 ) -0,41% ($7001 -2.75% ($4,800[ •7.19% 1114,000) 7.69% $13,200 Indicated Value I $168,600 $169,800 ( $180,700 I $184,900 IlnclaatedYaiuc lValuation Reconciliation: Value Ranae $168.600 to $184,900. Recommendation: Reduce EMV from $171,100 to $170.8001 COMMENTS The subject property is located at 3600 Woodbine La in an area of similar homes. Subject property is a 1,154 square foot rambler, built in 1958. An interior review of this property was completed on April 22, 2009. The interior of the home is in good condition. Kitchen was updated in 2004 and has newer cabinets, floor and granite countertop. The porch was converted into a family room in 2002 and has a skylight , gas fireplace. and patio doors. The full basment includes a walk-out with two daylight windows. Basment finishing includes paneling , ceiling tiles, and vinyl tile floor. One finished basement room has only concrete floor finish. Basement 3/4 bathroom is in fair condition. Subject property backs up to park/wetlands. After reviewing the subject property an adjustment in size was made to the first floor area and the basement bathroom quality. This adjustment reduces the 2009 estimated market value by $300. It is the staffs recommendation to reduce the 2009 estimated maket value from $171,100 to $170,800 for taxes payable in 2010. . %SOARD12009%Karm1fM00WoodUneSin BOARD Grid 09 nnster.xLSluse this 09 04/26/2009 SUBJECT COMP. #1 COMP. #2 COMP. #3 COMP. #4 Steve Sines 6919 Perry Ave N 7131 Halifax Ave N 5112 63rd Ave N 7012 Quail Ave N NAME 3600 Woodbine La 28-119-21-44-0007 27-119-21-31-0073 33-119-21-42-0003 283-119-21-44-0027 ADDRESS 27-119-21-42-0032 PID 761h Ave N ; e N i . Yo I a rtkt~pF . ~ " t3 r e hill11 ~ +y yy A a ryry ...y. ..»,,..A'ryMii 1~LH ' 1 k ~ ; i " 7 . a 5 x ~ . -s O 1. E r „""zxl I rt ,fie t d~1.: '~aa. ~33 F .S t a?thia Ln N N_ . j hve D Edsth Noe N Palmer Lake Environmental Area $7211 AV F4 z..,... n:atL tl ~ $6 Avrs N - • School idoa l n' t ~~t C [;h Ave N uttun Ave N. co " ~ - yglfits+ t 0 e< ~ t 65th Ave N N 4r.°r1h,Ave }.i,_,. '65(h Ave gi &.ith Ave N , ~ 7' m E '}tl~ 7p Ave N North xs Ave Ft . Licbrt ~ , t~, a <Fc Am 4.. Bark , . ~Ii_ 510A 604h Ave N i K5, !fir East, Pall w . = ' 09th A _I 7hu E Creek ga~, ~,c z 52 ~ ~h Ave 1•! , ~ , rrrnrarer t.n . ~ i ~uarr - -Q 4 65111 AY, `s, s Wh Ave N @$~'o ` ^ . f vd 54AhAwe N t<, N pD° M vtlrrrlveFl &^3td Rvs N ` r' ` Garden 63rd Ave N4 Air r> 'G 152 1 ! 7t °02,vA F. mom qye Rrtf" 2;,,:: Jane x` BtetAve 18 3 first Artt,i' x ' ' 9~h AV, I~J .t' } ii t s s J J ' tog Microsoft Corpvration512bf17AVfEQ 'd AND COMPARABLE SALES MAP COMPARABLE #1 6819 Perry Ave N, Brooklyn Center COMPARABLE #2 7131 Halifax Ave N, Brooklyn Center COMPARABLE #3 511263 rd Ave N, Brooklyn Center COMPARABLE #4 7012 Quail Ave N, Brooklyn Center -Hennepin County Oblique Aerials Images courtesy of: Microso Virtual EarthTM 2009 Flight Date: AWA 2006 WPM J k Y . 6r Y AV ANN", CITY OF BROOKLYN CENTER RECEIVED APR 10 2M LOCAL BOARD OF APPEAL AND EQUALIZATION 2009 Assessment APPLICATION FOR APPEAL March 19, 2009 through April 10, 2009 You must return this application by April 10, 2009 to be placed on the Agenda for the Local Board of Appeal and Equalization April 20,, 2.009, 7:00 P.M..1J Name(s) t Cv1 lYt1 S -flii4 1 m SYii'ts , Daytime Contact Number: 6 Property AddressLorb -7 lNrti_~G~ r~ ~1 V XJ Property Identification Number-33-1 W-0037 Assessor's 2009 Estimated Market Value ~z What is the reason you are appealing your 2009 assessment? -I)Ue7 OnCJ~CV9- fn bo ug (n~ 510-s- a00-Z0_tAr hp W. :b -3 4 When did you purchase yo r home? Date of Purchase Purchase Price Did you purchase your property from a bank, as a foreclosure or short sale? wo 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? L e or No If so, what was the determination of value? f ~ Q Gt ~ 1 1~ 0 C , 1 What do you think the market value of your property should be? R 1-3o Z)(5 Please bring all documentation supporting your claim of overvaluation or erroneous classification to the Local Board of Appeal and Equalization. In order to appeal vour valuation an appointment to view the property will be required. 4/5/2009 City of Brooklyn Center ATT: PROPERTY TAX APPEAL 6301 Shingle Creek Parkway Brooklyn Center, MN. 55430 Subject: 6407 Orchard Ave. N Brooklyn Center, MN. Dear Sir or Madam, I respectfully disagree with your real-estate comps due to the sales being too old. As we all know the national and local housing market has and still is depreciating at a rate never seen before. The comps enclosed to your office were submitted to and accepted as evidence by a Federal Bankruptcy Court Chapter 7 Proceedings 3/9/2009. Noting the comps I provided show several homes not sold and taken off the market due to no response by buyers, these examples were way under the market value your offices derived for my home. When I spoke to your tax contact person requesting help she told me that local tax base do not include homes foreclosed and or short sales. Many of those foreclosed homes in my neighborhood are being offered as low as $60,000. If foreclosed/ short sale homes would be included we would have a tax base of about $100,000 on most homes in my area of Brooklyn Center. My son lives in Brooklyn Park they devalued his taxes over $50,000 this year. I sincerely hope we can come to an amicable agreement in this matter. I look forward to our meeting April 20, 2009. Sincere Michael coons www.showco"mn.com & click thedocuments link on the main menu, print bankpa.PDF for all does needed tosubmit an offer* * t✓ 6% to 4V Image 1 of 10 AW 7324 Newton Avenue N , Brooklyn Park, MN 55444-2446 Slideshow • Open All List 3461556 Status: Expired Map Page/Coord:78/83 List Price: $149,900 List Date: 11/01/2007 Off Mkt Date:10/27/2008 Date Closed: County: Hennepin Style: (SF) Split Entry (BI-Level) Area: 363 -Brooklyn Center Bedrooms: 4 Total Baths: 2 Garage: 2 Total Fin SgFt: 1,740 Listing Agent: Genevieve L. Blomgren 612-770-7277 Listing Office: Keiser Williams Classic 763-463-7500 Appt Phone: 763-463-7600 Acres: 0.31 Yr Bit: 1976 Directions: Brookdale Drive To Newton Ave- South To Home. Agent Remarks: Nice property In quiet neighborhood. 4 bdrm spilt 2 up 2 down. Patio opens to deck w/ fenced rear yd, fin lower level w/ familyroom, dbl att garage w/ access to home. -Property subject to bank approval.* 6237 June Avenue N, Brooklyn Center, MN 55429-2467 Slideshow Open All List 3443044 Status: Expired Map Page/Coord:78/A4 List Price: ;159,000 List Date: 09/20/2007 Off Mkt Date:07/31/2008 Date Closed: County: Hennepin Style: (SF) Four or More Level Split Area: 363 - Brooklyn Center Bedrooms: 3 Total Baths: 2 Garage: 1 Total Fin SgFt: 1,602 Listing Agent: Gregory Kuntz 651-450-2163 Listing Office: RE/MAX Realty 100 651-455-1256 Appt Phone: 651-450-2165 Acres: O Yr Blt: 1956 Directions: 694 To Brooklyn Blvd, South To 63rd, West To 3une Ave Agent Remarks: Well maintained and up to date. 4 level with 38R on 1 level, 2 fireplaces, newer furnace & water heater, newer roof. Fenced backyard. All in a great convenient location. fr AL-840 6325 Brooklyn Drive, Brooklyn Center, MN 55430 Image 1 of 6 Slideshow • Open All List 3587832 Status: Expired Map Page/Coord:92/81 List Price: $169,900 List Date: 08/20/2008 Off Mkt Date: 11/30/2008 Date Closed: County: Hennepin Style: (SF) Four or More Level Split Area: 363 - Brooklyn Center Bedrooms: 4 Total Baths: 3 Garage: 2 Total Fin SgFt: 1,776 Listing Agent: Thomas L Herzog, CRS 952-844-1514 Listing Office: The Realty House 952-831-3201 Appt Phone: 952-844-1510 Acres: 0.22 Yr Bit: 1958 Directions: Brooklyn Boulevard To 63rd East To Brooklyn !Drive, North To Home Agent Remarks: Property is clean and nice, Cali it a "Grand Parents" Home.Home is being sold "as-is". Please check with listing agent on attorney requirements. Good home with lots of space, big garage, low maintenance exterior. http://matix.northstarmis.com/Matrix/HTMLReport.aspx?c=AAE.AAAD* * * * *AQAA.AA... 12/1/2008 i Image 1 of 6 rr A L.8 00 ~ ALdW A US 4W Image 1 of i 6231 Lee Avenue N , Brooklyn Center, MN 55429-2477 Slide shots Open All List 3553799 Status: Expired Map Page/Coord:92/A1 List Price: $124,900 List Date: 06/05/2008 11 Off Mkt Date:06/15/2008 Date Closed: County: Hennepin Style: (SF) Three Level Split Area: 363 - Brooklyn Center Bedrooms: 3 Total Baths: 2 Garage: 1 Total Fin SgFt: 1,795 Listing Agent: The Angela Larson Team 651-203-1788 Listing Office: Keller Williams Integrity RE 651-203-1700 Appt Phone: 952-473-1380 Acres: 0.22 Yr Bit: 1956 Directions: Brooklyn Blvd. To 63rd Ave No West To Lee To Hom Agent Remarks: BANK OWNED PROPERTY, SOLD AS IS. OFFERSOANGELALARSON.COM. FAX OFFERS TO 651-203- 1830 OR EMAIL. INCLUDE ADDENDUM THAT EM SHALL BE DEPOSITED WITHIN 15 BUS DAYS OF FINAL ACCEPTANCE. Seller does not allow inspection contingencies. 3118 64th Avenue N, Brooklyn Center, MN 55429 Slideshoar Open All List 3588786 Status: Expired Map Page/Coord:78/B4 List Price: ;125,900 List Date: 08/22/2006 Off Mkt Date: 11/20/2008 Date Closed: County: Hennepin Style: (SF) Four or More Level Split Area: 363 - Brooklyn Center Bedrooms: 4 Total Baths: 2 Garage: 1 Total Fin SgFt: 2,215 Listing Agent: Devon Walton 763-416-1173 Listing Office: Prudential Metrowide Realty 763-416-1166 Appt Phone: 763-416-1180 Acres: 0.22 Yr Bit: 1959 Directions: 694 West, Exit On Brooklyn Blvd, South To 63rd, East To Beard, North To 64th, Right Turn To Home Agent Remarks: Buyer to be preapproved by Countrywide but does not have to use Countrywide for financing. Contact listing agent for more details. 2600 64th Avenue N , Brooklyn Center, MN 55430 0 Slideshouv • Open All List 3540522 Status: Expired Map Page/Coord:78/84 List Price: $129,000 List Date: 05/09/2008 Off Mkt Date: 10/30/2008 Date Closed: County: Hennepin Style: (SF) Three Level Split Area: 363 -Brooklyn Center Bedrooms: 3 Total Baths: 2 Garage: 2 Total Fin SgFt: 1,775 Listing Agent: Ann M. Borseth 651-451-2850 Listing Office: Weichert, Realtors-North star A 651-451-2850 Appt Phone: 952-473-1380 Acres: 0.26 Yr Bit: 1958 Directions: 694/94 To Brooklyn Blvd., South To 63rd Avenue, East To Brooklyn Dr., N To 64th, W On 64th To Home Agent Remarks: Buyer agent to verify measurements. May be subject to 3rd party approval-Call before submitting offer. As-Is Addendum required. 38R, 2BA, 3 level split in a great location. Close to freeways, bus line, shopping and parks. I~ A LA 00 7119 Dallas Road, Brooklyn Center, MN 55430 Image i of 5 ;tideshmi • Opecc All List 3553773 Status: Expired Map Page/Coord:i/Al List Price: ;135,284 List Date: 06/04/2008 Off Mkt Date:10/04/2008 Date Closed: County: Hennepin Style: (SF) Three Level Split Area: 363 -Brooklyn Center Bedrooms: 4 Total Baths: 3 Garage: 2 Total Fin SgFt: 3,120 Listing Agent: Lori Reinert 320-333-4466 Listing Office: Showcase Properties 612-424-6001 Appt Phone: 612-424-6001 Acres: 0.22 Yr Bit: 1972 Directions: 252 To 73rd East To Dallas South To Home On Right. Agent Remarks: **For the bank owned pa & addendums go to http://matrix.northstannls.cam/Matrix/HTMLReport.aspx?c=AAEAAA *****AQAAAA... 12/1/2008 Image 1 of 4 Image 1 of 5 Review Of 6407 Orchard Ave N PID#33 119 21 41 0037 For Michael & Catherine Symons 2009 Board of Appeal and Equalization City of Brooklyn Center A Millennium Community TO: 2009 Brooklyn Center Local Board of Appeal and Equalization RE: Michael & Catherine Symons 6407 Orchard Ave N Brooklyn Center, MN 55429 Mr. Symons contacted the Assessor's office March 24, 2009. He was concerned about the valuation on his property at 6407 Orchard Ave N. An appeal packet was mailed March 24`h, 2009. Mr. Symons returned his completed application, copies of expired listings from MLS to illustrate market conditions, and a letter outlining his concerns on April 10th, 2009. Mr. and Mrs. Symons appeared before the Local Board of Appeal and Equalization on April 20th, 2009. The board directed Mr. Symons to make an appointment with an appraiser from the Assessor's office to review interior characteristics on his property. An appraiser from the Assessor's office reviewed Mr. Symons' property on April 21 st, 2009. Two negative condition issues were noted, a small area of staining on the living room ceiling requiring repair, and a slight crack in the plumbing drain from the kitchen sink leaking into an unfinished portion of the basement. This crack occurred over the winter, during a period of extreme cold per homeowner. A change in characteristics was also noted, the detached garage was found to have heat, insulation, and sheetrock. Garages with this level of finish are considered excellent quality. Should the update to characteristics for Mr. Symons property be included in the 2009 estimate of market value, The Symons property would calculate an estimated market value of $184,100. The City of Brooklyn Center did not have any open market sales of split level properties that occurred within the state study period. The enclosed grid compares Mr. Symons' home to open market split entry and rambler properties that sold within this time. In reviewing sales of comparable properties, Mr. Symons adjusted 2009 estimated market value of $184,100 falls within the indicated range of adjusted sales. The enclosed grid indicates a value range for the subject property of $182,600 to $205,800. It is staff's recommendation to sustain the 2009 estimated market value of $182,300 for taxes payable in 2010 due to the small areas of water damage, assuming these will be repaired. The updated characteristics will be used to calculate all future assessments. Respectfully, r JJ/ V Nancy W cik, SA A City Assessor 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.cityolbrooklyneeizterorg SUBJECT PROPERTY 6407 Orchard Ave N Michael & Catherine Symons PID# 33 119 21 41 0037 Land Characteristics Land Area 10,104 sq. ft. 2009 Land Value $ 58,900 2009 Building Value 123.400 TOTAL 2009 EMV $182,300 as submitted Building Characteristics Style: Split Level 1,200 sq. ft. Main Level Room Count: 6 / 3 / 1 Full Bath Below Grade Room Count: 2 / 0 / 1 % Bath Garage: 1 Car Tuck under & 2 Car Detached Fireplace: 2 Porches/Decks/Misc.: Deck Central Air Conditioning: CAC Hennepin County Property Map Print Page 1 of 1 Hennepin County Property Map - Tax Year: 2009 The data contained on this page is derived from a compilation of records and maps and may contain discrepancies that can only be disclosed by an accurate survey performed by a licensed land surveyor. The perimeter and area (square footage and acres) are approximates and may contain discrepancies. The information on this page should be used for reference purposes only. Hennepin County does not guarantee the accuracy of material herein contained and is not responsible for any misu se or misrepresentation of this information or its derivatives. E > LO C 6419 6418 6412 134.0E 135 6413 6412 6406 F ,y 5 1 v (36) '134.08 135 X 6406 ( P c' 400 '57 407 37} 0 r~ 1 3ID 4.9 0 35 z 1 H LO r 8 L ' 6401 6342 (38) &400 134.9' 135 6336 6343 O342 1 9) 9 - rr Selected Parcel Data Date Printed: 4/23/2009 8:12:12 AM Parcel ID: 33-119-21-41-0037 Current Parcel Date: 4/3/2009 Owner Name: WANDA SEAN ANDERSON ET AL Parcel Address: 6407 ORCHARD AVE N, BROOKLYN CENTER, M N 55429 Property Type: RESIDENTIAL Sale Price: $114,000.00 Homestead: HOMESTEAD Sale Date: 10/1998 Area (sgft): 10104 Sale Code: WARRANTY DEED Area (acres): 0.23 A-T-B: TORRENS Market Total: $204,400.00 Tax Total: $2,729.90 http://gis.co.hennepin.mn.us/HCPropertyMap/Locator.aspx?PID=3311921410037 4/23/2009 City of Brooklyn Center Residential Field Card Printed: 4/23/2009 Assessment Year: 2009 Version: 1 PID: 33-119-21-41-0037 Property Address: 6407 Orchard Ave N Lot / Block: 007 / 003 Addition: Bergstrom's Lynside Manor District: Neighborhood: 0053 Exterior 1 Exterior 2 Model: Garage #1 Placement: Dwell Type: Single Family # of Cars: Floor Area: Adjacent Property: Equal Condition: Exterior Walls: View: Equal Arch./Appeal: Average Garage #2 Quality: B06 Placement: # of Cars: Shape: Square Floor Area: Condition: Style: Split Level Exterior Walls: Construction: Wood Frame Porch Exterior Walls: Metal Glazed Area: Quality: Exterior Trim: Stone Screened Area: Quality: Roof Type: Hip Open Area: Quality: Roof Cover: Shingles Patio Window Type 1: Gliders Patio 1 Area: Window Type 2: Casement Quality: Patio 2 Area: Air Conditioning : Central Quality: Dormer Length: Deck Dormer Quality: Deck 1 Area: Quality: # Patio Doors: Deck 2 Area: Quality: Pool Pool 1 Area: Quality: Pool 2 Area: Quality: Ba ernent Area (SgFt): 1,200 Tuck Under Type: Regular 1 Finished 50 288 Quality: Very Good Average # of Fireplaces: 1 Masonite Fplc. Quality: Average Avg. Clear. Height: Elec. Svc: Standard Htg: Forced air, gas fired Walkout: Detached Walkout Quality: 2 616 Excellent Masonite Basement Baths (#/Quaff.) Spa: / Dlx: / Full: / 3/4: 1 / Very Good 1/2: ! Basement Room Count Bedrooms: Baths: 1 180 Family: 1 Average Kitchen: Other: 1 Total Rooms: 2 Last Sale 224 Very Good Date: 10/01/1998 Price: $114,000 Code: 00 Desc: Good Sale Gomm,grlts Property Type: R - Residential Zoning: R1 Dwelling Type: Single Family Owner(s): Catherine Symons Michael Symons 1st Floor 2nd Floor Kitchen Rtg: Very Good Interior: Interior: Sheetrock Trim: Trim: Hardwood Floor: Floor: Wood Avg. Clear. Height: Avg. Clear. Height: # of Fireplaces: # of Fireplaces: 1 Fplc. Quality: Fplc. Quality: Average 3rd Floor Interior: Trim: Floor: Avg. Clear. Height: # of Fireplaces: Fplc. Quality: Value Info: Year/Version: 2009/ 1 Land: 58,900 Bldg: 123,400 Total: 182,300- Totals Res. Cond: Good Int. Layout: Standard Manual Assess: N Actual Age: Effective Age: Renovated Age: Functional Economic 1st Baths (#ff.)CtBlity) 2nd Baths (#/Quality) 3rd Baths (#/Ouality) Spa: / Spa: / Spa: / Dix: 1 Dix: / Dlx: / Full: 1 / Very Good Full: / Full: / 3/4: / 3/4: / 3/4: / 1/2: / 1/2: / 1/2: / 1st Room Count 2nd Room Count Bedrooms: 3 Bedrooms: Baths: 1 Baths: Family: Other: Living: 1 Total Rooms: Dining: 1 Kitchen: 1 Other: Total Rooms: 6 Flat Value Value: Desc: Building Areas 3rd Room Count Unfin. 1st GBA: Bedrooms: Unfin. 2nd GBA: Baths: Unfin. 3rd GBA: Other: Unfin. Total GBA: Total Rooms: 1 st Floor Area: 2nd Floor Area: 3rd Floor Area: Total GBA: Last Inspection Current Inspection Appraiser ID: 21 Appraiser ID: Appraisal Date: 04/21/2009 Reason: Board of Review Appraisal Date: Result: Interior Last Interior Inspection: 04/21/2009 Reason: Result: Left Tag: Yes / No Total Rooms Bedrooms: Baths: Family: Living: Dining: Kitchen: Other: Total: 1958 1985 1,200 1,200 3 2 1 1 1 1 1 8 WRAPPED NEWER WINDOWS. MFSF. UPDATED MF EXT IN GOOD COND. NEWER BSMT GLDRS. HEAT/INSUL & SHRK IN DET GAR. Amenities CT ENTRY. NEWER COUNTERS, CABINETS, & CT BKSPLSH IN KITCH. UPDATED CT & FIXTURES IN MAIN BATH. BSMT FIN CEIL TILE & TONGUE IN GROOVE PANELING. BSMT BATH ORIG CT. ASSUMED 2006/PHONE CALL FROM OWNER STATING THEY ARE UNABLE TO TAKE TIME OFF FROM WORK DUE TO NEW JOBS. SMALL STAIN ON LR CEIL & SMALL LEAK TO KITCHEN SINK PRESENT AT 09 VALUATION APPEAL REVIEW. PROPERTY IN GENERALLY GOOD CONDITION. City of Brooklyn Center PID: 33-119-2141-0037 Residential Field Card Property Address: 6407 Orchard Ave N Printed: 4/23/2009 Lot / Block: 007 / 003 Assessment Year: 2009 Addition: Bergstrom's Lynside Manor Version: 1 District: Neighborhood: 0053 Land , . Land:...::? . U11d Land Type: S tandard Lot Frontage: 75 Park: Land Quality: B05-Land Left Side: 135 Park Quality: Area Rating: Very Good Rear Side: 75 On Lake: Site Rating: Good Right Side: 135 Lake Quality: Zoning: R1 Effective Width: 75 On River: Contamination: Effective Depth: 135 River Quality: Flood Plain Map Ref: Effective Water: Landscape Quality: PUD Ref: Property Area (SgFt): 10,104 Allowable Units: Acreage: Not Buildable: Excess Land (SgFt): Adjacent Owner: Usable SgFt: Flood Plain: Flat Desc: Zoning Variance: Flat Amount: Manual Land: Q2F a.~ ' ~ ",ate k Property Type: R - Residential Zoning: R1 Dwelling Type: Single Family Owner(s): Catherine Symons Michael Symons Attributes Curbs Gas Paved Street Sewer Available Water Available Average N N N N N 50' 12' Basement Xroarage T U ti 1200.0' 286.0' Value Info: YearNersion: 2009/ 1 Land: 58,900 Bldg: 123,400 Total: 182,300- Influences Building Dimensions Length Width Sq Ft - 50 24 1200 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 22' Garage r 12' 818.D' 50' 16' i ! l 18' i 22' ' I ' Deck 224.0' Patio b 180.0' ' 50, First Floor t 1200.0' 50' Sketch by Apex N m Page: i City o f Broodyn Center List Repo Name: Permtt List permit I' e r►t►A AftD AVE Ne 6407 ARCH TEAROFFIREROOPORCH it List for: Sub-fv e perm T ily Replace DECK13 SEASON P_ef le Fan' Residentiat5ing~ly Addition Mom nit Building Residential Single F~ BCOIS766 Building BC013419 Permit Count: 2 ran 1 ate 1fl11212001 0811111999 V alug final t $3,500 07(3112002 $2,000 0411912000 Report Name: Assessor Inquiry City of Brooklyn Center Printed: 4/27/2009 Page: 1 Assessor Inquiry Display PID House Nbr Street Name Unit Zip Code 33-119-21-41-0037 6407 Orchard Ave N 55429 Last Name First Name MI O wner Taxnaver Resident Symons Catherine y Y Y Symons Michael y Y Y Frontage Left Side Rear Side Rai ht Side Eff. Width Eff. Depth Property Area Acreage Zoning P/S Exemnt Code School Dist Watershed Yr Built 75 135 75 135 75 135 10,104 0.00 R1 0279 14 1958 Year Ver #Subs Land Value Bldg Value Mach Value Tot Mkt Value Tax Cap Hmstd Midvr Rel H P/T %Own P/C 2009 1 1 58,900 123,400 0 182,300 1,823 Y N N R 100 N 2008 1 1 61,700 142,700 0 204,400 2,044 Y N N R 100 N 2007 1 1 57,800 161,200 0 219,000 2,190 Y N N R 100 N Lot: 007 Block: 003 Addi tion: Bergstrom's Lynside Manor I �1 za a 1 �a cu" LO ao" 44 ko a- Cam' a. cc R �D G C7 p C7 O O C7 b4 C7 G4 C? p O O d• d m 'm M b9 F Cal aU 4J Cfl L7 Q a LL W RI v m o L L u n n c o I o I u o I LO o OD o o 0 Eai cY, a o c i ID r� m a Cr a E OL cu Ltt" i3 a C:) 94 OD U m Q..' r C3 i s a m 'cx to m ua tai to E a a �s LL r r LO `o M F d 0 L; c m C. 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IwMr F!' 1 0T{fR Aw► x t m#O A W& Are N r sol�rAat NQ.0 2C ttTE O ANNi COMPARABLE SALES MAP COMPARABLE #1 511263 rd Ave N, Brooklyn Center COMPARABLE #2 3013 Thurber Rd, Brooklyn Center COMPARABLE #3 7007 Logan Ave N, Brooklyn Center COMPARABLE #4 6731 Camden Ave N, Brooklyn Center a r CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2009 Assessment APPLICATION FOR APPEAL March 19, 2009 through April 10, 2009 You must return this application by April 10, 2009 to be placed on the Agenda for the Local Board of Appeal and Equalization April 20, 2009, 7:00 P.M. Name(s) My Bui Le Daytime Contact Number: (763) 560 -0215 Property Address 6100 Brooklyn Boulevard, Brooklyn Center, MN 55429 Property Identification Number 34- 119 -21 -43 -0047 AND 03- 118 -21 -12 -0090 Assessor's 2009 Estimated Market Value $251,300 AND $173,700 respectively." y What is the reason you are appealing your 2009 assessment? Proposed values are out of line waah similar properties and comparably located When did you purchase your home? Date of Purchase May 1987 Purchase Price $205,000.00 Did you purchase your property from a bank, as a foreclosure or short sale? No 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? Yes or No If so, what was the determination of value'? What do you think the market value of your property should be? 'total of $362,000 Please bring all documentation supporting your claim of overvaluation or erroneous classification to the Local Board of Appeal and Equalization. In order to appeal your valuation an appointment to view the property will be required SALITERMAN 8 SIEFFERMAN, P.C. ATTORNEYS AT 1AW US BANKPLAZA, SUITE 2000 220 SOUTH SIXTH STREET MINNEAPOLIS, MINNESOTA 55402 RICHARD A. SALITERMAN TELEPHONE (612) 339 -1400 FLOYD E. SIEFFERMAN, JR. FAX (612) 349 -2908 WWWSAUrERMAN- LAVCOM NICHOLAS IVL WENNER BORIS PARKER. MARK R. M ILLER FR MICHAEL E. MARKS MARGARET E NOUBLSSIE April 10, 2009 DANIEL. P. H. REIFF JAMES V.HARMON,orcowsa,r wmv Personal and Confidential KARL D. BREITBARTH, omaAOnmas m= Ms. Nancy Wojcik, SAMA City Assessor City of Brooklyn Center 6301 Shingle Creek Parkway Brooklyn Center, Minnesota 55430 Re: City of Brooklyn Center Board of Appeals and Equalization State of Minnesota by My Bui Le; Assessments for Year 2009; Property ID Number: 34- 119- 21 -43- 0047 and 03- 118- 21 -12- 0090; Our Office File No.: 100409 Again, I am deeply appreciative of being able to speak with you yesterday and today and the very valuable time you took to review the real property premises on behalf of our client My Bui Le. The enclosed Application for Appeal is being sent to you by facsimile and U.S. Mail. I look forward to being in touch with you in the very near future Again, thank you very much for your careful and expeditious attention to this matter. Very sincerely ur Richard A. Saliterman Attorney at Law RAS /jdb Enclosures as listed i Review Of Que Viet Restaurant PID# 34- 119 -21 -43 -0047 and 03- 118 -21 -12 -0090 For My Bui Le 2009 Board of Appeal and Equalization e :,�a�� v... �s�. ........E .u�<.... �A,v���•... J 1. 3� �z ..x<„ .+:.�1 City of .Brooklyn Venter A Millennium Community TO: 2009 Brooklyn Center Local Board of Appeal and Equalization RE: My Bui Le C/O Richard Saliterman 6100 Brooklyn Blvd, and an adjacent parking lot. Brooklyn Center, MN 55429 Mr. Richard Saliterman Attorney, representing My Bui Le contacted the Assessor's office on April 9 regarding the 2009 combined value of $425,000 on the Que Viet restaurant. The property structure and parking lot are located on two separate parcels due to the map section and school district boundary line. Due to this fact, the parcels cannot be combined. The owner is concerned that the property value is out of line with similar properties. A review by the Assessor's office was set up for the same afternoon. At 4:00 p.m. on April 9, 2009,1 arrived at the property and found the entrance doors of the restaurant were locked. Restaurant staff did not allow me access to review the interior of the property. i contacted Mr. Saliterman and informed him that a review of the property would be necessary along with an application of appeal. Mr. Saliterman returned an appeal application and letter that has been submitted as a written appeal. The owner indicated that the market value should be $362,000, however, there was no additional market documentation included with the appeal to indicate a change in the market value. A review of the property characteristics was completed on April 24, 2009. Property is a sit- down restaurant with 2,236 sq. ft. which includes a lobby, dining, kitchen, storage area, restrooms and walk -in cooler. Dining area allows occupancy for 70 seats. Property is in average condition with brick and cedar exterior. Interior finish includes the and carpet flooring, 10' ceiling t. and good lighting. The roe parcels include PI 03- 118 -21 -12 which g g c D -0090 c property rty P includes the building structure, trash enclosure and six parking stalls. The second parcel PID 34- 119 -21-43 -0 047, is an asphalt parking surface with 19 parking stalls. The parcel boundary between the two parcels is so close to the North side of the building structure that the adjacent lot is the only option for an access point to the restaurant. Due to the inability to combine the parcels into one, and building setback and parking requirements, PID #03-118-21-12-0090 is not marketable without the adjacent lot. Due to the property's primary use, the property is defined as a "restaurant" rather than a "fast food restaurant" when looking for comparable sales. There were four sales of similar sized properties during the sales ratio study period, however one sale was not used as its size and location were not similar to the subject. The enclosed sales comparison grid includes three sales from Hennepin County that represent small restaurant sales. Sale comparables one and 6301 Shingle Creek Parkway Recreation and Community Center Phone T.DD Number Brooklyn Center, MN 55430 -2199 (763) 569 -3400 City Hall TDD Number (763) 569 -3300 FAX (763) 569-3434 FAX (763) 569 -3494 wwwxityo fbrool: lyncenter. org two are most like the subject property. While restaurant sales are rarely open market and comparable, sales one and two included in the grid are very similar to the subject property. Comparable two also includes two parcels for the restaurant site. The comparable sale grid indicates a range of sale price from $96 to $219 per sq. ft. A 2007 vacant land sale located on Brooklyn Blvd. was included to indicate a land price of $7.97 per sq. ft. without adjustment. The subject property is not currently rented, but rather an owner occupied restaurant run by the family. A market derived income approach was completed on the property to arrive at an income approach to value, and has been included in the report. The market income approach is based on market rents as a percentage of sales. The actual income was not received by the Assessor's office for this report. The market income approach indicated a value of $394,000 or $176 per sq. ft. Due to the large variation in income from restaurants of this size, more weight was placed on the market sales approach to arrive at a value determination. In determining a value, the inability to market the primary parcel, 03- 118 -21 -12 -0090, solely, due to parking and building setbacks and the inability to combine parcels was considered. Therefore, it is my recommendation to reduce the 2009 combined estimated market value of $425,000 to $385,00. The breakdown of the recommendation would be as follows; PID 03- 118 -21 -12 -0090 Land $90,000 Bldg $150,000 Total $240,000 PID 34- 119 -21 -43 -0047 land $145,000 Bldg $0 Total $145.000 Grand Total $385,000 Respectfully, Nancy Wo cik, SAMA City Assessor o•. �o O Qj N IME zzz v a> O O O c 3 a A VUU U 00 00 zzz a zzz z z z xl C U k N V �N �000 r+NN e l o �z 0000 o ^s X000 W) pa y M b0 a Z x0000 x M H rA a o Q rn O rn 00 a p ui A s, H a N 00 Z A L~ 000 C C1�i AO w M CN N C a i N G-i O I z z z k: WW11 i iry i" 0000 C 4 UUU d N j a zzz o 1 zzz w v zzz In x _000 WI pa o ;a O a CD CD Z Z 0A o 0 0 o x O a QO M z s IC N O Q+ 0 0 0 p Q LY. A M a w M N N N o f Report Name: Images City of Brooklyn Center Printed: 4/28/2009 PID: 03- 118 -21 -12 -0090 Page: 1 Property Images TI E F 3 4 1g s. G s VI; V 34 Report Name: Images City of Brooklyn Center Printed: 4/28/2009 -PID: 03- 118 -21 -12 -0090 Page: 2 Property Images h c Ilil I i'�I I' I� I z a r o/ a. l V I 1 I �I Zt I 4,P e y r Y t y Report Name: Images City of Brooklyn Center Printed: 4/28/2009 PID: 03- 118 -21 -12 -0090 Page: 3 Property Images pr yA NO x a w h 3 9�1 I O b ti O W O O O n H O O W ti U U N i c G l E U U w O to C7 W 5i .O [a A Q Q U C O U Val H y h ti N U F Cd y U 1�n H W 1.. 4. r••. I L J••+ H N �N Q7 >w0Z >L aa>;3 0 0 •O o iv N a� O O O eO U� O O M M M N O y U r NN 0- a N N N 7 II. U b 3 mob• N x V O'D� U V fY� rn to 0. U d V� 0.U. cO C U 'L f1. cO U U U OA i U V N T v v ai t, v y bU N M 8 C p N N W V a. M +`n•' E r p C 0 NM n CL U NO O a ti E a�i a a�i U U V o y o g °o oL s ¢�maa caw way xxx LZ z awaOC7z 0.N th 0 0 0 c� Q Q Q N bq D, a, O O i y p 7 O Y N t M O O N O �D O O O v. U L o a,•� ai o 3 o a �x "a c y as .o o x x c o y o Q x v o ai to cn Cd Toy o A o U pp 8 Z 'a.0¢ a`Cinc� x wwa ¢z¢w E- ,'b z 'IT 'IT w 7 N .w L U Ri w .�Q y a d y y G O. .O cc lu ei a ai o `dviQxQ v d CG 0' It 3 y a v n •U a C. a v ti 'o 3 t o Q o$ d a x cG b a 3 i N¢�' n aUwa a� aOw.a U0 i i i M ,L O N E a �xxxxxxxxww V T U U N y d G c 3 a N O a m u, in in in v in 0 �v b o o� O p N a A i y 'C Cal O L C'. O t� I L wC,ZdAZ3 r L y L y U o C y oo eq O O. i y L y O L Qj O U U n y ob h G y q L Q Hennepin County Property Map Print Page 1 of 1 Hennepin County Property Map Tax Year: 2009 The data contained on this page is derived from a compilation of records and maps and may contain discrepancies that can only be disclosed by an accurate survey performed by a licensed land surveyor. The perimeter and area (square footage and acres) are approximates and may contain discrepancies. The information on this page should be used for reference purposes only... Hennepin County does not guarantee the accuracy of material herein contained and is not responsible for any misuse or misrepresentation of this information or its derivatives. it €E 22' c\ 61 y 7 <9 k j1 "Ii I r Ei g) 9 t i� Selected Parcel Data Date Printed: 4/28/2009 12:34:18 PM q Parcel ID: 03- 118 -21 -12 -0090 Current Parcel Date: 4/3/2009 ti Owner Name: MY BUI LE i Parcel Address: 6100 BROOKLYN BLVD, BROOKLYN CENTER, MN 55429 Property Type: COMMERCIAL -PREF Sale Price: $0.00 Homestead: NON HOMESTEAD Sale Date: Area (sgft): 10564 Sale Code: Area (acres): 0.24 3F A -T -B. TORRENS I Market Total: $251,300.00 3 Tax Total: $7,847.76 http: /gis.co. hennepin. mn. us/ HCPropertyMap/Locator.aspx ?PID= 3411921430047 4/28/2009 Hennepin County Property Map Print Page 1 of 1 Hennepin County Property Map Tax Year: 2009 The data contained on this page is derived from a compilation of records and maps and may contain discrepancies that can only be disclosed by an accurate survey performed by a licensed land surveyor. The perimeter and area (square footage and acres) are approximates and may contain discrepancies. The information on this page should be used for reference purposes only. f Hennepin County does not guarantee the accuracy of material herein contained and is not responsible for any misuse or misrepresentation of this information or its derivatives. j �a is �ddMa �4J ^2 r x Y �...4 __a.._ S elected PdrC @I Data Date Printed: 4/28/2009 12:32:20 PM Parcel ID: 34- 119 -21 -43 -0047 Current Parcel Date: 4/3/2009 ii Owner Name: MY BUI LE Parcel Address: 22 ADDRESS UNASSIGNED, BROOKLYN CENTER, MN 00000 Property Type: LAND COMMERCIAL Sale Price: $205,000.00 Homestead: NON HOMESTEAD Sale Date: 12/1986' Area (sgft): 18127 Sale Code: SALE INCLUDES MO 3� Area (acres): 0.42 A -T -B: TORRENS Market Total: $173,700.00 Tax Total: $6,087.06 http: /gis.co. hennepin. mn. us/ HCPropertyMap/Locator.aspx ?PID= 3411921430047 4/28/2009 Restaurant Sales Comparable Grid Hennepin County GBA from 1 to 4,500 sq. ft. MMIMM MOMMEMMUM Name: Que Viet Nadia AI- Hasnaw, LLC Citizen Cafe Victor Panora Address: 6100 Brooklyn Blvd 7401 -6405 Regent Ave N 2403 38th St. E. 1024 38th St E Brooklyn Center Brooklyn Park Minneapolis Minneapolis 03- 119 -21 -12 -0090 PID M 34-119 -21-43 -0047 28- 119 -21 -13 -0015 12- 028 -42 -12 -0119 02- 028 -24 -34 -0015 Year of Construction: 1972 1966 1941 1957 Effective Year: 1979 1980 1965 1962 Construction Quality Condition Avg. Avg. Avg. Avg. Good Avg. Good Good Exterior: Wood Brock Stucco Brick Roof: Flat Flat Flat Flat First Floor Area 2,236 4,200 1,558 1,085 Gross Building Area: 2,236 4,200 1,558 1,085 Basement: 0 0 0 0 Stories: 1 1 1 1 Average Story Ht I Clear Ht: 12' 13' n/a 10' Useable Land Area: 28,708 20,210 9,406 14,197 Parkin Lot: 25 15 15 20 LIB Ratio: 12.84 4.81 6.04 13.08 Sale Date Date of Deed): 10/15/2007 3/18/2008 11/7/2007 Sale Price: $550,000 $320,000 $290,000 Personal Property: $150,000 $50,000 $52,670 Property is prohibited from Property is a grocery and Sale also included the adjacent Buyer plans to run the combining parcels into one restaurant two tenant property. vacant parking lot at 12- 028 -24 restaurant. Personal property due to PID section and Buyer was the manager at the 12 -0118 The land size above consisted of kitchen school district boundary. grocery. Appraisal was is a combination of the 2 appliances, utensils, tables, Total parking slightly larger completed to determine a parcels. Sale was listed with a chairs umbrellas and misc. Additional Comments: than other small restaurants. basis for negotiating a sale restaurant broker. A detailed dining items. Buyer responded Land size listed is total of price. Appraised value was list of the personal property to a for sale sign posted on both parcels. $570,000. Special was included with an the property. assessments of $3976 were accountants estimate of value paid by buyer. at $50,000. Cash Equivalent of Real Estate: $403,976 $270,000 $237,330 Sale Price Per S Ft. GBA 1 1 $96 1 $173 1 $219 Market Indicated Value Range: $96 to $219 per s ft. PROPERTY USE: Vacant Land MUNICIPALITY: BROOKLYN CENTER ZONING: C1 RC: 00 INTENDED USE: 0344 Office Building COUNTY: HENNEPIN USE: L100 PROJECT NAME: ORIGINAL PIN #:03- 118 -21 -12 -0101 Seq 1 AREA: 37,020 ADDRESS:5950 Brooklyn Boulevard NEW PIN UNITS: 1 Warranty Deed AUDITOR ID: 954159 MULTI PID: N DIVISION: COMP: Y LOCATION AMENTTTIES: High Traffic COMMUNITY: NBRHOOD: RATIO: Y PROPERTY DESCRIPTION MARKET DATA Buyer: Tech Partners, L.L.C. Frontage: 162.0 Sq. Ft Estimated Seller: ESM Limited, L.L.C. Depth: 214.0 Sq. Ft Estimated Sale Data: Date of Sale: 5/30/07 Total Land Usage: 37,020.0 Sq. Ft 0.85 Acres Total Purchase Price: $295,000 Usable Land Area: 37,020.0 Sq. Ft 0.85 Acres Down Payment Amount: $295,000 Other Terms: Number of Buildable Units: 1 TERMS Shape: Rectangular Topography: Level Set 1 Zoning Description -After: C1 Assume Ind: N 2 Trackage: N PMT- INT- PMTS_ Site Utilities (Public or Private): All Available BALLOON DATE- Legal Description: LOT: BLOCK: Personal Property: $0 Cash Equivalent Price: 6.20% $295,000 Addition Name: PLUS: Special Assessments: Ind:Y $0 Metes /Bounds: LESS: Salvage Value: Actual $0 PLUS: Cost of Razing Imps: Actual $0 PLUS: Cost of Soil Corrections: Actual $0 Cash Equivalent Adj: Cash Equivalent of Real Estate: $295,000 Sale Analysis: Sale Price Per TOTAL LAND AREA: $7.97 Sale Price Per USEABLE LAND AREA: $7.97 Sale Price Per ACTUAL FRONT FOOT: $1,821 Sale Price Per BUILDABLE UNIT: $295,000 Sale Price Per TOTAL ACRES: $347,115 Summary Comments: Property is located on Corner of Brooklyn Blvd 60th Ave. Property was actively listed. Intended use is to construct an office building. Economic Market Income Approach Restaurant Analysis Name Que Viet Restaurant Address 6100 Brooklyn Blvd. PID# 03- 118 -21 -12 -0090 and 34- 119 -21 -43 -0047 G BA 2 Land Area 12.84 L:B Income Analysis: Indicated Indicated Economic Market Economic Rent Rent Per Sq. Sales: Income Assessment Total Sales Sales per S4. Ft 0-7% Ft. Year Year Estimated 2008 2009 $1,000 $447.23 $50 $22.36 Includes take out orders Conservative Market Income ProForma: Income: 2fl09 a .20�It! Rent (PGI) $50,000 $22.36 Vacancy -5.00% ($2,500) Effective Gross Income (EGI) $47,500 $21.24 Expenses: Reserves -2.00% ($950) Insurance -2.00% ($950) Leasing -5.00% ($2,375) Management -3.00% ($1,425) Total Expenses ($5,700) ($2.55) Net Operating Income: (NOI) $4 1,800 ETR 2.61% Capitalization: 8.00% 8.00% Overall Cap Rate 10.61% Indicated 2009 Value: $394000 Value /sf $176.21 C:IDocuments and Settin slnwojciklDeskto restaurant roforma.xlsx 9 I p�I Que Viet P I 4/30/2009 2009 RESTAURANT VALUATION Brooklyn Center, Minnesota 1 Oue Viet LAND 28,696 12.76 Land $275,000 $9.58 6100 Brooklyn Boulevard GBA 2,249 Building $150,000 $66.70 34-43-47 and 03 -12-90 AGE 1972 Total $425,000 $188.97 Change 0.00% $14.81 EMV Land 2 50's Grill LAND 48,476 9.73 Land $500,000 $10.31 5524 Brooklyn Boulevard GBA 4,980 Building $250,000 $50.20 03- 118.21 -41 -0015 AGE 1968 Total $750,000 $150.60 Change 0.00% $15.47 EMV Land 3 Boulevard Bar B Grill LAND 46,390 7.99 Land $475,000 $10.24 2545 County Road 10 GBA 5,808 Building $250,000 $43.04 02- 118 21-31-0049 AGE 1977 Total $725,000 $124.83 For Sale l2 /2008$ Change 0.00% $15.63 EMV /Land Vacant 4 IHOP LAND 43,200 10.39 Land $440,000 $10.19 5601 Xerxes Avenue North GBA 4,157 Building $350,000 $84.20 03-11821 -41 -0002 AGE 2002 Total $790,000 $190.04 Change -3.07% $18.29 EMVAand 5 Perkins LAND 51,417 9.52 Land $425,000 $8.27 5915 John Martin Drive GBA 5,400 Budding $180,000 $33.33 02. 118.2142 -0011 AGE 1972 Total $605,000 $112.04 Listed For Sat. $750,000 Change 0.00% $11.77 EMV /land 6 Davanni's LAND 38,576 10.33 Land $325,000 $8.42 5937 Summit Dr, GBA 3,734 Budding $265,000 $70.97 02418-21- 12-0009 AGE 1981 Total $590,000 $158.01 Change 0.00% $15.29 EMV4and 7 Coyote Grille LAND 92,550 12.82 Land $795,000 $8.59 2101 Freeway Blvd. GBA 7,222 Building $175,000 $24.23 35 -119- 2143-0008 AGE 1981 Total $970,000 $134.31 Vacant Change 0.00% $10.48 EMV /Land 8 Denny's LAND 44,431 8.32 Land $365,000 $8.21 6405 James Cir N GBA 5,338 Building $515,000 $96.48 35- 119 2142-0012 AGE 1996 Total $880,000 $164.86 Change 0.00% $19.81 EMV/land 9 Oak City LAND 172,497 25.07 Land $660,000 $3.83 $5.34 2590 Freeweay Blvd GBA 6,880 Building $315,000 $45.78 useable 35419. 2144 -0007 AGE 1996 Total $975,000 $141.72 land useable land 123,706 Change 0.00% New Tenam 12/07 Not Open useable /and 10 Bridgeman's LAND 49,232 11.80 Land $392,000 $7.96 6201 Brooklyn Blvd. GBA 4,173 Building $210,000 $50.32 34- 119 21-43 -0007 AGE 1964 Total $602,000 $144.26 Sold $625,000 3/412008 Change 4.70% $12.23 Restaurant! Office 14 American Legion LAND 31,500 10.45 Land $252,000 $8.00 $14.92 6110 Brooklyn Blvd GBA 3,013 Building $220,000 $73.02 34.119- 21+13-0042 AGE 1965 Total $472,000 $156,65 Liquor& Food EFF 2001 Change 0.43% $14.98 15 Applebee's LAND 5878 1.00 Land $60,000 $10.21 $161.28 1400 Brookdale Center GBA 5878 Building $955,000 $162.47 03- 118 -21 -41-0024 AGE 1997 Total $1,015,000 $172.68 EFF 1997 Change 7.07% $172.68 TOTALS LAND 652,843 Land $4,964,000 $7.60 GBA 58,832 Building $3,835,000 $65.19 Total $8,799,000 $149.56 Note: Additional Misc.Restaurants within shopping centers 4.09% Change LeAnn Chin's Cub Shops Center House of Hurs Humboldt Square Scoreboard Pius Humboldt Square Panera Bread @Shingle Creek Center Videos Opening in 2002 Shingle Creek Center GASPREDSH7L4 ssessor12009cra 9..0s12009 Rsasurent CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2009 Assessment APPLICATION FOR APPEAL March 19, 2009 through April 10, 2009 You must return this application by April 10 2009 to be placed on the Agenda for the Local Board of Appeal and Equalization April 20, 2009, 7 :00 P.M. Name(s) 6"V1 (.�f (o sy Daytime Contact Number: Property Address 0 3 7 3 tl7 6!S Property Identification Number 3 y I/9 l N "o e -219. 022-t-1/ 0)/ 002 YzM.2 S, ALL Assessor's 2009 Estimated Market Value �3 000 What is the reason you are appealing your 2009 assessment? r er f S k Yn e 7'T 1641'21 c e S u Ns' r ,v, D r to 6K— dc? gc� When did you purchase your home? Date of Purchase 196 Purchase Price Did you purchase your property from a bank, as a foreclosure or short sale? J0 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? or No If so, what was the determination of value? NA rr,.r* 7, rice 7 What do you think the market value of your property should be ,�i Please bring all documentation supporting your claim of overvaluation or erroneous classification to the Local Board of Appeal and Equalization In order to ap your valuation an appointment to view the property will be required I Ty! x q REAL ESTATE, LLC, Nancy, 4/15/09 Thank you for taking time to review the property tax situation at Garden City Court Apartments. I strongly believe that the fair market value for that project is $2,520,000, over $1,000,000 less than the estimated assessment. I have provided four years of financials, a strong rental comparison, and current listing information of the subject that I feel supports my value estimate. Market: In 2007, Garden City Court was listed for sale by Colliers Real Estate for $3,250,000. The i receive ea cel purchase agreement bu Y p t the sale fell through due to the constraints of the low income tax credits and the lack c of salability f those tax credits. The Colliers listing ex tY 9 fired in P Dec. 2008. Minnesota Brokerage Group, arguably the top apartment sales group in the Twin Cities, took over the listing January 2009, again for $3,250,000. To date there has been no activity on the project. Because the tax restrictions hamper marketability and when factoring in past operating numbers, the true marketable price the price I think it would sell at is $2,750,000 Comparlsont In a recent Sun newspaper article, the City publicly drew comparisons of- Garden City to two other low income properties in town, Centerpoint and Unity Place (see attached). The tax value for Centerpoint is $34,182 per unit and it consists mostly of 2 bedroom units with comparable rents to Garden City. Minnesota Brokerage Group also has the sale listing for Centerpoint and from my understanding it is set to close for less than $30,000 /unit. The tax assessed value for Garden City at $34,182 1unit is $2,461,101. Financials: I have provided four years of financials for Garden City Court Apartments. The property is older, has endured over 15 years of excessive wear and.tear that comes with low income restrictions, and requires a higher operating expense ratio in order to stay afloat. I feel that four years is a long enough time to show a consistent pattern of expenses (rather than one time capital imrovements) that is higher than most apartment projects. According to the financials, at a 7 cap rate the most Garden City Court could be worth is $2,000,000. Please le me know if there is more information we can provide. I look forward to hearing from you re gal in the property inspection Thank Y u, Wade hatze Prope Ma tiger 952 -2 -9 2 EqulMax Real Estate LLC 1161 Wayzata Blvd. #312 Wayzata. MN 55391 PH: 952-926-1541 PROPERTY MANAGEMENT ACQUISITIONS' BROKERAGE CONSULTING FAX: 952- 544 6892 wade@equimaxco.com Property Information Search by Property ID Result page Page 1 of 1 Hennepin County, M1 WWW. Us Prope Informati Search Result The Hennepin County Property Tax web database is updated daily (Monday Friday) at approximately 9:15 p.m. (CST) 2009 Assessme (For Taxe Payable 2010) ,p»x Property ID: 02-118-21-23 -0015 r Address: 2802 NORTHWAY DR Unit No.: Municipality: BROOKLYN CENTER Owner: BRKLYN CTR LEASED HSG ASSOC Property ID: Taxpayer Name Address: BRKLYN CTR LEASED HSG ASSOC 0211821230015 5402 PARKDALE DR STE #200 ST LOUIS PARK MN 55416 Search Clear Subrecord No. 1 Improvement Amount: Property Type: LOW INCOME RENTAL Homestead Status: NON HOMESTEAD Exempt or Deferred: Values Estimated Limited Land: 2,520,000 2,520,000 Building: 6,094,000 6,094,000 Machinery: 0 0 Totals: 8,614,000 8,614,000 Less Qualified Improvement: 0 Less Veterans Exclusion: 0� Total Taxable Market Value: 8,614,000 Hennepin County is providing this information as a public service. Tax related questions: taxinfo @co.hennepin.mn.us Need help locating a property on our site? Check out our Search Tips Home Your County Government I Licenses, Certificates, Registration i Employment Volunteering Health, Housing, Social Services i Law, Public Safety, Courts I Environment, Property, Transportation Copyright 0 2006 Hennepin County, Minnesota www.Hennepin.us Accessibility Policy Contact Hennepin County Security /Privacy Statement http: /wwwl6.co.hennepin .mn.us /pins/pidresult.jsp ?pid= 0211821230015 &assmt =l 4/15/2009 w d0 d m gyp.. 7. t, a� p CA a ,4,. y �y V y ^t3C o W C a a c aas8 bow cd y u b 10 a x r I W C u y o ti o Z d u W w E w w O O u p, a G 3 0° `a U u a u u fl c o w D CJ E m c .y .C. 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U c G �0 x m o u. o o a u o E i P4 A° 3 w o y U w E 3 w Garden City Page 1 of 2 I c< BACK TO LISTINGS PAGE CITY Brooklyn Center, MN d r 1 Est) UNIT 72 I w SALES PRICE 4. $3 250 ,000 DOWN PAYMENT $650,000 TERMS VIEW MORE PHOTOS Cash or Submit Garden City Court, situated on a 3.65 -acre park -fike campus, consists of six, brick stucco Three roofs bud Idirgs with 72 mostly two- bedroom apartments: The complex is completely self-contained In a residential cul-de -sac with each 3 -story building separated by landscaped lawns, mature Two water heaters trees and large shared parking areas. The asset also Includes a fenced -in outdoor pool flanked by a small maintenance building. Landscaping Front door entries are spacious and light with open staircases, wrought iron railings, and >a Outdoor pool upgrades ($25, 000) large two -gory windows off second floor landings. Each building Is also equipped with V Carpeting (many units) severed entries, separate laundry facilities and Individual tenant storage lockers. Apartments are well designed and include some nice appointments. Living and dining rooms feature neutraleolor finishes and plush carpeting. There is also plenty of closet space with VIEW FULL REPORT>> walk -in closets in the bedrooms, and full-wall metal bliokds in the living rooms. Kitchens are upgraded with Euro-style cabinets, white appliances and double stainless steel sinks. Baths offer vanities with lighted mirrors and ceramic floors and surrounds with decorative We Inserts. This POP is password protected. For the monthly access code, please contact Maddy Buster at 952.465.3572: Garden Court resides In a prime Brooklyn Center location adjacent to Garden City Elementary and Garden City Park. The park is a full recreation center with a shatter building, playgrounds, basketball hoops and a softball field. The convenient location oft Brooklyn Boulevard gives the property easy access to public transportation and to local shops and restaurants. SUMMARY http: mnbrokeragecom/GardenCity.htm 4/15/2009 Garden City Page 2 of 2 PROPERTY TYPE 3 -story brick 6 stu= bulk#ngs YEAR BUILT 1963 UM1TS I RENTS 7 -1SR 65 2 BR HEATING 6 AIR CONDITIONING Gas fired hot water LAUNDRY 6 washers 6 6 dryers (leased) ASSESSED MARKET VALUE $3,625,800 REAL ESTATE TAXES 2009 -$44,349 PARCEL S� 3.65acros PARKING Off sheet (assigned unit 8 Nslton ROOFS Flat, rubber membrane ®20M MMMEEOTA BROKERAGE GROUP Mr EY.CCLSIOR SLYD -SUITE 9M ?MWNEAPOLS 4,WAIG http:/ /mnbrokerage.com/GardenCity.htm 4/15/2009 Review Of Garden City Court Apartments Wade Shater, EquiMax Real Estate, LLC 3407 3417 65 Avenue N. PID #'s 34- 119 -21 -42 -0018, 0019, 0020, 0021, 0024, 0025 and 0026. For 2009 Board of Appeal and Equalization At A i, s City of Brooklyn Center A Millennium Community TO: 2009 Brooklyn Center Local Board of Appeal and Equalization RE: Mr. Wade Shatzer Property Manager Garden City Court Apartments 3407-3417 65 Avenue N. Brooklyn Center, MN 55429 Mr. Shatzer contacted the Assessor's office by phone on March 27, 2009 regarding the $3,697,000 estimated market value of the Garden City Court Apartments. The estimated market value of $3,697,000 indicates a value of approximately $51,300 per unit. Mr. Shatzer was told to provide 2008 income and expense information for a review of the income approach on the property. Mr. Shatzer responded to this request by email on April 13, 2009. Due to the timing of the receipt of income documentation a request for an appeal application was sent. Mr. Schatzer provided an appeal application, market information, a property listing and four years of income and expense documentation. Due to the confidential nature of the income documents they were reviewed by the Assessor's office but not included with this report. Garden City Court Apartment complex includes six, twelve unit buildings, for a total of 72 apartments. The Garden City Court Apartment complex includes seven separate parcels and two classifications per parcel. The six buildings have exterior finishes of brick or a mix of brick and stucco, and flat roofs. A 2008 aerial photograph from Hennepin County indicated that the roofs displayed drainage issues. The buildings are positioned on the property with two buildings facing 65"' Ave and the remaining buildings facing the cul- de-sac drive. The buildings do not have an electronic entry system, but only keyed entry is available. The unit mix in each unit includes 1-one bedroom and 11- two bedroom units. The apartments are significantly smaller than apartment units in the market. The one bedroom unit is comparable to a large studio apartment layout, and the two bedroom units have very small bedroom sizes. There are no garage stalls for the complex, only surface parking, however, there is adequate surface parking for all units. The interior unit finish includes newer carpet, white formica kitchen cabinet fronts, and original ceramic bathrooms. The complex also includes an outdoor pool, wading pool and maintenance garage. A review of the physical characteristics of the complex was completed on April 24, 2009, with the apartment manager. There were no significant changes to the characteristics made. Garden City Apartments currently receives the low income housing -HL and apartment classification on six of the seven parcels. In the valuation of apartment properties receiving the low income housing classification market rents are to be used as the basis of the income approach. 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.cityolbrooklyriceitter.org There were four apartment complex sales in Hennepin County that represent the age and size of the subject property. These sales have been included in a sales comparison grid. All sales occurred during 2008. Of the sales included, comparables one and two are most comparable in location, size and age to the subject. All sale comparables have a variety in unit mix in comparison to the majority of units in the subject being two bedroom units. Two bedroom units in the market typically demand more parking, garage space, and maintenance due to family occupancy. The indicated market value range was $44,500 to $71,000 per unit. Mr. Shatzer provided a four year history of income and expense information for review. A market derived income approach was calculated on the subject property using market rents. A review of the actual 2008 income indicated a significantly lower market rent than the market is collecting. Upon physical review the sizing of the units seems to be a clear indication of the current asking rents. The units appear more comparable in size to one bedroom and studio apartments in other complexes. The property manager indicated that the rents had been discounted the prior year to increase occupancy. In completing an actual income approach the subject came in lower than the market derived approach. A reconciliation of a market and actual income approach was included in this report with the actual figures hidden. The reconciled income approach indicated a value of $3,050,000 or $42,000 per unit. Due to the variations in the market sales approach due to location and unit mix, more weight has been placed on the income approach. It is the Assessor's recommendation to reduce the total 2009 estimated market value of $3,697,000 to $3,050,000 or $42,000 per unit for taxes payable in 2010. A summary of the recommendation by parcel has been included. Respectfully, Nancy Wojd SAMA City Assessor PID Land Value Bldg Value EMV 34 -119 -21-42 -0018 Sub 1 HL 81% 116,600 293,100 409,700 Sub 2 A 19% 27,400 68,700 96,100 34- 119 -21-42 -0019 Sub 1 HL 81% 116,600 293,100 409,700 Sub 2 A 19% 27,400 68,700 96,100 oil 34- 119 -21-42 -0020 Sub 1 HL 81% 116,600 293,100 409,700 Sub 2 -A 19% 27,400 68,700 96,100 34- 119 21.42 -0021 Sub 1 HL 81% 11 6,600 293,100 409,700 Sub 2 A 19% 27,400 68,700 96,100 34-119 -21-42 -0024 Sub 1 HL 81% 116,600 293,100 409,700 Sub 2 A 19% 27,400 68,700 96,100 34 -119 -21-42 -0025 Sub 1 HL 81% 116,600 380,400 497,000 Sub 2 A 19% 27,400 89,200 116,600 s ......E 34 -119 -21-42 -0026 Sub 1 HL 81% 12,300 12,300 Sub 2 A 19% 2,900 2,900 a GRAND TOTAL 879,200 2,170,800 3,050,000 o U U 0 a z o U S 4 (A D fA D Y O N d 4 N N o 0c tu3 d¢odd Q 4 or x z v Li �o Hood eq Y E a c p pYp O C O N Q d. .r r F ,ri w a a N C a g X c G' a� a es o c r a c c a U F= y ro e O C v tl� O9 O m d fi CA V a as y w L�a CrrC.. c 5 ';cvrn w y �y y C Y W W N 7 4 y U U U Q d Y W QV v W Y a�aaca WW WIo xxx aaa z �F .awwc) x 00 cn �Y Y •p o00 U k. b Qn (2101 c 3 r s Y q d a m ,ab iz MMO4�: OHO 9 v. 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La y 'm m m o c n m t w�N ¢n.�vEcaEa o a Z a `ova d m¢ o >g¢' o N ro ro YY ro p A ro o vxa3a e x Q U m O m U d N N m a d m d M C VZ m N M M N N d x l0 C N o N C to ZI 90 �I Q N W N I N O O V w N N l0 w w 0 o ro o 8 :3 m m g O g L m m o O m m m L N (A d G d N co cc 9 CD a r Q O d V W V M N O 7 O N N d d N O h CV m R N n Z N M pj r Lo N y 4) m, ro c N V M W M N w M m V w ro R Q r w C6 tl d p E mm a o m. C LU C a y A a c E d u ro C o�4m mc d o c d E d a> d A Q C OI G V d V O; C y w C 060 Q N M A b M A G d L C L O m y O d£« d O C Cl Y N 10 't Z V N 9 d` m¢ •o •O •Q C M G 4 o Q V N t0 tO m o c d u i a w c o v_ NO 09d0� O cd c'E o,oa' y >,d9 o C d i ro a y c E c m o R v 3 v IL c 2 `o_ LL m a d K d w o d R c c w cr o c ei w c c D a p a di v a d a d d t" d E v G d o Te E o m in Q e (3 m m o w R m a v m z U 'a w V w iL t7 at ac ve ae a a V a) W a a Q w PROPERTY USE: APT Low Rise MUNICIPALITY: MINNEAPOLIS COMPLEX NAME: COUNTY: HENNEPIN ADDRESS; 1318 14th Avenue 5 P IN 26- 029.2443 -OD41 Seq 2 AUDITOR ID: 978553 MULTI PID. N COM MUNITY: aNBRI OW; 99 PROPERTY DESCRIPTION MARKET DATA Buyer: Ventura Flats LLC Year ButtEffective Year Built: 1957 1967 Se #er� Apple Square LLC Const Quality/ Condition: AVERAGE AVERAGE Sate Data: Date of Sate: 7/25108 Const Class/ Bsmt Use: WD at Steel Stud Frm Total Purchase Price: $3,325.()W r Roof Type/ Exterior Type: Flat 8rck Doan Payment Amount° $0 Other Terms: 0 Roof Cvr/ 2nd Exterior Type: oar arui Graves Wood TERMS No, of Storied Bldg Height: 2.0 Ft No Data Available No. of Bldgs( Units Each: 1 Cash Equivalent Price: 6. 78% 53,325.000 Gash Equivalent Ady LESS: Personal Property: $75,000 smt Arent Finished: 14,138 Sq Ft Sq Ft Ist Fl Area/ GBA: 14,238 Sq Ft 42,414 Sq F# PLUS: Special Assessmen $ly Spl Assessrnent Verified Ind: lti! Perimeter R Casts Equivalent of Real Estate: $3,250,000 i tot Units/ Avg Sz: 73 Units Sq R Sale AnatysiS. Sale Price Per Unit: $44,521 1 `fist Rooms/ Avg Sz: Room$ Sq Ft Sale Price Per Room: Sal Price Per Sq. Ft. GAA: $76.63 11 i.fl 5I Y Ft Gr oss Rent Multiplier: 28K 1.00 fwsize: 3 Y Sq R If emm DOW EFF I.170 19 Y se Ft PRIVATE DATA Garage Stalls: ......w_�_ ReKtCs. P DATA Heat+ Part Hai Starter 100% �.r......._ 1 tadk l W water Trash Elevators; awkiN Surface/ Area: Asphaft 45 tontrol Entry Lauiscby: 3 `s P atio or Decks: .e or V Toth Land Area/ Excess Land: 37,375 Sq Ft N F U seable Land Area: Sq Ft j Zoning: R28 Units P Are/ Topography- 85.08 Environmental Concern Ind: Location Rating Factor: Anaentildoac. Po t The YIN next to the unit west indicate: (Stove A R aslw)-(Grta" Doosaly(Wa r A Diyer) of AN CoiWitioners Per UrA) of Fames). Good sate. Sold word of mouth, seller and buyer are experts in apartment property in the area. general repair needed fo#ovWng sate. UBLIC *ACE *PUBLI s 4 w PROPERTY i6E: APT LOW PASe MUNICIPALITY; NEW HOPE �:OMPLEXNAME: Continental Village COUNTY: HENNEPIN ADDRESS: 5600 5632 Boone Ave N, 8500 Wh Ave N PIN 9: 00-118-21-42-0005 Soq fir! 2 AUDITOR 10: 971,662 MULTI PU): Y COl4MUNrTY. NBRHOOD; F,1[41:Z3E3EW 3E3E3:k4 1-110 PROPERTY DESCRIPMOM MARKET DATA Buy Year Built /Effective Year Built-, 1968 1968 er: Merit Acquisition, LLC 5dlerI- Continental Village Property, LLP Const Quality/ Condition: AVERAGE AVERAGE Safe Data; Date of Sale: 3131/08 Const Class/ Bsmt Use: WD or Steel Stud Frm Total Purchase Price, $4,830,112 ,Roof Type/ Exterior Type; Flat Brick Down Payment Amount: $0, Other Terms. Root Curl 2nd Exterior Type: Tar and ;;ravel TERMS No, of Stories/ Bldg Height* 2.9 9 Ft I No. of SWgsl Units Each 3 VARIES set Assurne Ind: Y 1 $2,673,223 PKT- $16,198 INT-5.67% PMTS-128 ;Bsmt Areal Finished; Sq Ft Sq Ft BALLOON DATE-12/112018 ;1st F! Areal GBA: 29,828 Sq Ft 89,200 Sq Ft Cash Equivalent Price: 6.03% $4,761,498 ►thmeter-, 1,627 Ft Cash Equivalent Adj: $68,614 Tot Units/ Avg Sz: 86 Units 828 Sq Ft LESS: Personal Property: $86,OW i Tot Roams/ Aug Sz: Rooms Sq Ft PLUS: Special Assessments: $O SpI Assesunenot Verified Ind: Y WR 1.00 BA/ Size: 28 Cash Equivalent of Real E $4,675,498 Y Y Y N 1 0 700 Sq Ft Zfkq 1.00 SAr&n: 58 Y Y Y N 1 0 890 Sq Ft �ku kwlysw Sale Prim Per Unit $54,366 Detached Garage Stab: 88 Sale Prke Per Room: Sale Prke Per Sq. Ft. GSA: $52.42 �Primary "eatingif Pct Hawaw 100% Grow Rent Muftlpikr. Secondary Hea&W Pct FACM6 Daft: I sprw**W flovators: 0 I PMAM DATA Par" SurfaW Area: AVtk* A* Rents. Control Entry/ Laulvdry: Y YES PMATE DATA Wattel Trash Oabo or Docks. YES Ice or W": atal Land Area/ Exiom Land: 228,734 Sq Ft N F LAW Area: 228,734 Sq R R-5 AN pubk Wits P Acre/ Topography: 16.38 Ooped Environmental Concern Ind: Location Rating Factor: Ottw Aawkitim- The YIN nW to the unit desc k0cate (Stove Re(r4eraW)-(DWiWasher)-(G&baqe Deposal)-(Wadw 8 Dw)-(ft. of Air Cordborim Per Unit)-(NO. Of FkepkaiCeS). St monally CanwnenW Property had been held by se#er for 6 1/2 years. This is a average quality compin vAth some amenibm Half of the nxift have bew replaced during the last 5-6 years, Somie dedL% paw doors and lower level had been replaced due to rot aid fogged vandows. Jim said they stil had $400,000 of capttal imps. to do. That included one apt. tildg, and two garage roofs, more windows and decks. There is an outdoor heitted pool. $139,000 personal property deduction mcludes stove, findge, dishwasher and wal AC per unit plus laundry, pool and grounds mainterwce equipment. I used $1,000 W unit or $86,000. rm assuming ad the appliances were not new, either. During final negobationis, the se#ees escrow account was conbitluted to the property fbr condition Lmles, reducing the o(Vnal sale prim of 54,900,000. Occupancy was Pretty good the last 6 months and property cash flowed. lift Ain x- 06111t21420005 5eq a :d ar Rs� A �4syr a se PROPERTY oSE: APT low Rise 040NICIPALF17Y MINNEAPOLIS COMPLEX NAME CsQUNTY: HENNEPIN ADDRESS. 23W Pleasant Avenue PIN s: 3+029- 24- a-0130 Seq 4: AUDITOR ICI W2046 MuLTT PID: N COMMUNITY: NBkHOOD: 51 1 r (44 -111 -1.% a PROPERTY DESCRIPTION MARKET DATA Year 8uilLiEffective Year Suuilt: 1968 1968 &ryer: Uptown Plaza Apartments LLC Seder: Anthony Inc i Const Quality/ Condition: AVERAGE AVERAGE Sale Data: Date of Sale. 4/9/0€3 cons€ Gass€ 85rnt Use: WD or Steel Stud Firm Total Purchase Price: $3,550,000 Root Type/ Exterior Type: Flat Stucco Down P ayment Amount: 0 Roof Cur, 2nd Exterior T' Tar and graved Brick Other Tetras Cl TERMS' No, of Stories/ Bldg Height: 3.0 Ft No Data Available No. of 8kilgsl Units Each: 1 Cash Equivalent Price 6,46% $3,550,000 Cash EquivalentAdj: LESS: Personal Prop": $60,000 Bsnt€ Area( Finished: 28. Sq Ft Sq Ft PLUS: Spec Assessments: $0 1st Fl Area/ GBA: 14,896 Sq Fit 58,520 Sq Ft Spi Assessment Verified Trig: Perimeter: Fit Cash Equivalent of Real Estate: $3,490,000 Tot Units/ Avg Sz: 60 Units Sq Ft XaN Analysls: Sale Price Per Unit: $58,167 Tot Rooms/ Avg Sz; Rooms Sq Ft Sale Price Per Room: Sale Price Per Sq. Ft. GSA: $59,64 IBR 1.00 WSae: 42 Y Sq Ft Grass Rent f9ultiplier, 2BR 1.01 BA/Size: !2 Y Sq Ft Income Data EFF 1.00 Sloe. 6 Y Sq Ft PRIVATE DATA Garage Stalls; o Apt Re"ta. SATE DATA Heating/ €fit Steam 100% Hea Water T rash Heafingiif Pct Secondary Elevens: Viking SurfiKW Area: 29 Control Entry/ Laundry: Patio or Decks: E l Lake or View: Total Land Ar ea/ Excess Land:3S,5W Sq Fk N F Useable Land Area: Sq Ft Zon R5 des; Units P Acre/ Topography: 73,44 Enwronmervtal Concern Ind: Location Rating Factor; Otisier Amrrnrtltiss. x The YIN next to the unit aesc wkkX (Stave 61efrigeator) (Di r) (Garbage Dmposal) (wa5lser Drys )qNo, of Air mere Per unn) (No. of Fireplaces), Summary Gets: V al sale, adveir isedd for $3,650,000. prior to sale, the subject was in average minus condition with noticeable deferred maintenace, and substantial reapa rs and Upgrading needed. new owner started extensive extierw arx! interior rehabbing work aMmst immixhately following the safe. PUBLIC ***ACE **PUBLI &�vW E �Y m PROPERT`! USE: APT Low Rise MUNICIPALITY: ST. LOUIS PARK "OMPt.EX 14AAME: Park INt-A AWments COUNTY: HENNEMN ADDRESS: 1435 -1427 Colorado Avenue PIN 3+117- 21-32 -OD65 SeU x: 2 AUDITOR ID: 974314 MULTI PID: N COMMUNITY: N PROPERTY DESCRIPTION MARKET DATA Year Built( Effective Year Built: 1971 1971 Buyer: Anthony, Inc Seller: Park West Apartments SLP, LLC Const Quality/ Condition: AVERAGE AVERAGE Sale Data: Date of Sale: 4/25/08 Const Class/ Bsmt Use: WD or Steel Stud rim Total Purchase Price: $4,380,000 Pouf Typel Exterior Type; Flat ck Down Payment Amount: E Other Terms: Root Cvri 2 nd Exterior Type: Tar and vrav(4 LVotx: TERh1S No, of Storiesi Bldg Height: 3.0 9 Ft No Data Avaftble No. of Bldgs/ Units Each: 2 Cash Equivalent Price: 646% $4,380,000 Cash Equivalent Adj: 8smt Area/ Finished: Sq Ft Sq Ft LESS: Personal $120.000 PLUS: Special ments: $0 Ist Fl Areal GBA: 17,604 Sq Ft 52,235 Sq Ft Spi Assessment Verified Ind: Y Perimeter: Ft Cash Equivalent of Real Estate: $4,260,000 Tot Units/ Avg Sz: 60 units 721 Sq Ft Sails Analysis: Sale Price Per Unit. $71,000 Tot Rooms/ Avg Sz: Rooms Sq Ft Sale Price Per Roam: Sale Price Per Sq. Ft. GBA. $81.55' I OR IM 8A/Size: 36 Y Y Y N 624 Sq Ft Gross Rent Multl 28R 1.{7(} Size: 24 Y Y Y N am Sq Ft Inca n! DaU: letaci Garay Staffs: 22 PRNATE DATA Prignary Hc� Pct Hot Water 100% PRXVATE DA TA Dry Pct sockiii0i":_ Heat Watel Trash Sprinkl E arkktg Sur(a Area: Asphalt 84 Control Entry/ Laundry: Y Yes Patio or Becks: Decks Lak or View: Tats Laird Area/ Excess Land: 99,940 Sq Ft N Land Area: 99,940 5q Ft Zoning: R4- Mini- Farnfly Utilities: K"ic available Emits P Acre/ Topography: 26.25 Generally Level Environmental Concern Inds Location Rating Factor- 1 Ot1w Aawndt s: i its F The Y/N next to the urk desc wxkaW ISIS Del lgeratory {DWuvaser) Ddpasa+ }tWasfier Dryer) (No. of Air Wirers Per unit)-( Of fi Property was not openly marketed to the public. Buyer was running out of tim to use 1031 exchange funds a W was look" as another apartment in Brooklyn Park. The agent informed hint that he knew of a bung in SLP that may be available to purchase. An appraisal was done for f1mriding which supported the purchase price. the personal property listed above includes $60K which Ole buyer got back tram the seller after closing for repairs needed on tits building. He has already put 12K into a new water softener system and will reed to replace a boil which is est€nated to cost $10K. Pm x :042.721320065 See S:G II r z a r r s m 'eix °.awe' i is s 2.009: II�C?OME :APPROACH: ANALIFSIS APARTMENTS GARDEN CITY COURT YEAR OF CONSTRUCTION: 1963 3407 -17 65TH AVE N PID: 34-119-21-42-0018,19,20,21, 24, 25, 26(LA) ...........0 f......::.:.:.:.:ACTl ......:TOTAL 0 STUDIOS $550 $0 6 1 BEDROOMS $650 $3,900 66 2 BEDROOMS $775 $51,150 0 3 BEDROOMS $950 $0 0 GARAGES $50 $0 NO ACTUALS RECIEVED ECONOMIC ACTUAL MONTHLY ADJ. RENT $55,050 Actual Information was reviewed but not TOTAL ANNUAL ADJ. RENT $660,600 ;included due to its confidential nature. TOTAL NUMBER OF UNITS 72 GROSS BUILDING AREA 66,960 CAPITALIZATION PROCESS ECONOMIC ACTUAL POTENTIAL GROSS RENT (PGI) $660,600 Actual Information was LESS: VACANCY COLLECTION LOSS reviewed but not OF PGI 5.0% ($33 ,030) included due to its confidential nature OTHER MISC INCOME 2.0% $13,212 EFFECTIVE GROSS INCOME $640,782 Actual Information was reviewed but not LESS: ANNUAL EXPENSES Of PGI 48% ($317,088) included due to its LESS: RESERVES FOR REPLACEMENT 2% ($13,212) confidential nature TOTAL ALLOWANCE 50% $330 300 AIVI�fUAL NET INCOME: 310: 482: RETURN ON OF PERSONAL PROPERTY $11,520 $1,000 /UNIT 16% NET INCOME TO REAL PROPERTY $298.96 Tax Rates CAPITALIZATION MARKET TAX OVERALL RATE 7.00% AVERAGE TAX RATE 1.71% TOTAL CAP RATE 8.7% 8.7% Ail KET EI 0--: R V I_ tylw I R RTY N J............................. CAPITALIZED VALUE PER UNIT $47,667 LV per Unit BV p 2009 Land $879,200 $12,211 2009 Bldg $2,170,800 $32.42 RECONCILED MARKET AND ACTUAL INCOME APPROACH $3 050 000 2009 per 1/1. $45.55 2DQ9 per Unit $42,000 2009 BROOKLYN CENTER APARTMENT ASSESSMENT COMPLEXES 48 -75 UNITS 48 TO 75 UNIT COMPLEXES Apartments 2009 Unit 2008 Unit PROPERTY AREAS 2009 EMV Values 2008 EMV Values (Q Garden City Court HL Land 194,633 Land $879,200 $12,211 Unit $879,200 $12,211 Unit 3407 -17 65th Ave N. GBA 66,960 Building $2,817,800 $42.08 In $2,761,800 $41.25 [/J PID: 34-119-21-42-0018,19,20,21,24,25,26 Units 72 Total $3,697,000 $55.21 In $3,641,000 $54.38 14 Age 1963 Change 1.54% $51,347 Unit 0.0% $50,569 Unit >::::s:<:::;: .il aitE►. sxer �.a xand........... ...Ia............Ear�d€........ ,............ttl 4. M1' rl. i..' K.{.. 1Y. V 557............. W. S?................... W. i31F......` 7.?. i. 4�Y:.........:.::: iR$ 4�M::::.:::::::::. iC3.:::: i7'[}'? �5::.......... :.:::::n i::i:;:jC }i} .::iii::ii::•:::::•:::• ':iiiiiiii:J. .i: ::i:: }:ii fy.j�(,[ qq. i S? ::!iY'S{'7.¢::::::i::::T: ......PtS� �...'E :::::::::..Ef E3R�# 31![ VfIS�! F3A: �F. ES7. �1�°,. r: :::i::::i t�l......... i�........ EaB.::._::::::::: I�€#:::::::::::{ Cli::::::::..... ;:.;;:.i:.;:;.i:;.;;;ii:.i;: Ofd::::: 36 .6128.L1L�5G.Lt1i1VE....t31 TH 5:::::Lv1 i iii 1[.;i i i iiiiii: ;8?[iiiiiiiii i i 6A.............. 1 kcfits..: ...::...i...:.:::............ 11 #.:::::::::::..$4� 3.::::::::::: .Z. E.tiFiB.i::: r........................ f.:..:.......................................:.:............:....:.:.::::::::..: Per.. ca�a�.a g ?RNs.::::::::::. 1 �3n1>.: WILLOW LANE Land 131,615 Land $700,000 $12,069 Unit $700,000 $12,069 Unit 7015 BROOKLYN BLVD GBA 56,331 Building $2,347,000 $41.66 In $2,250,000 $39.94 PID: 27 -119 -21-33 -0010 Units 58 Total $3,047,000 $54.09 $2,950,000 $52.37 [/1 Age 1969 Change 3.29% $52,534 Unit 0.0% $50,862 Unit Sold 1212006 $3,000,000 (C E 50,725 ea) %'ElS ?PS2f`$' STERLING SQUARE Land 149,118 Land $675,000 $12,500 Unit $675,000 $12,500 Unit 6640 6700 HUMBOLDT GBA 48,504 Building $2,350,000 $48.45 [/j $2,350,000 $48.45 [IJ 1400 1401 67TH AVE N Units 54 Total $3,025,000 $62.37 [Q $3,025,000 $62.37 [/J PID: 36- 119 -21 -22 -0038, 0039 ,0043, 0044 Age 1968 Change 0.00% $56,019 Unit 0.0% $56,019 Unit Sold IV2002 (CE 3,186,000) BROOKHAVEN Land 115,160 Land $680,000 $12,593 Unit $680,000 $12,593 Unit 3907 65TH AVE N GBA 57,024 Building $2,351,000 $41.23 [q $2,327,000 $40.81 [q PID: 34-119-21-31-0081 Units 54 Total $3,031,000 $53.15 In $3,007,000 $52.73 [q Sold $2,932,000 July, ?002 (CE $2,878,000) Age 1968 Change 0.80%_ $56,130 Unit 0.0% $55,685 Unit Fire Ref air 3 Gal sid i W 2 S[ MARVktf: f3A1? 33ENS......_:.:. ai::::i:: nd:: 87'bt)0.; ?s 4� 8 #.'.:Y:: >'s >:Uiii1 Ix'{ 1E7d' :$<�8 »L►ni); apa::::::::::::: 9.:::::::::. 1,.....:.:. Z f72'OOQ: i:. 8710:ORGNARD:GA E: IwE::>:>::> a:::<:>:<:::>:: >::s's ?::C BI s::>::>:::: >:::934...... >:::::$ulldfn ...Y Krr,i:: i:::i:i: i a 8 >:::::4�1 1.;:::; 0;A°,:.;:.;:;;;.;:.:88: >:<::::<Llnt. 13.E »ta.�lne:.. 4e.t.Atc t� tl.ct r e::: >::19 .;:.;:.;;;:0:00"In.;;:;;;:;;.;: 1....:..:........ rst:.:................................$. g ov off BROOKDALE TOWERS Land 133,341 Land $625,000 $12,500 Unit $625,000 $12,500 Unit 6915 HUMBOLDT AVE N GBA 69,810 Building $2,227,000 $31.90 [Q $2,219,000 $31.79 [/p PID: 26-119-21-44-0070 Units 50 Total $2,852,000 $40.85 [Q $2,844,000 $40.74 Fire 12 uslita wnliveat;le 12128106 Age 1969 Change 0.28% $57,040 Unit 0.0% $56,880 Unit Eire Repair Completed prkor to 03 asmt Impros 840,000 Co. mplete window replacement Unit Unit V#cttsrta3cwnho»ies::.... Cana 2B ;400 Lohd. $6 k[01 43,02# �Jn� $62 p00 $13 LJnif 1. 8 40 G#ti1 S 1 4;A� q6A 57,562 $u�kt[t g:: 5 ,OOa $44 9$ �8 $z.iw 000 $a 30 K, 34 118 21 21+.44M6, l tills` T t611 3 ,#k00 �'r5;B 4' UI: 17$ 00 $55 I1; T.Yrsh?ine Age' 19 ?9 Giiige:' 1 X3 $<858. Una1 0°�, $x,146 Unit. �dF >.m t »34'x:: T OTALS Land 1,733,325 Land ::$fi,608,200 #DlVlfll U.riit $8,009,200 12,5t knit: and GBA 754,185 Building 24,G73 800 32 68 [t} $2x,349 AVERAGES i3rnts 518 Total $31,083,000 41 21 s [!j $30 853 x00 40 92 [Ej Cfiange 004 #,DIV 0 All Umts $59x73 All lJnits Tota�slrcludeReg &Tovv»fome Styles ftt +rvsee 206OB£4 $:6583 F u00 $1&266 Av ,453,667 61300 RegU »tt. $3x2 &778 513i3xt R6 U,ntE g Comm Gorrplex Value $66,300 ;THUnrt $6x2 i :,Enit e �saaetisrmmnssesso tzaoa�� rsr ae rs.xl�xl2ooa r�Mt $6T fi0Q. SR Apt 467,500. RA 4/30/2009 CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2009 Assessment Walk -in APPLICATION FOR APPEAL Local Board of Appeal and Equalization April 20, 2009, 7:00 P.M. Name s TC Daytime Contact Numbe t� Property Address LISM Property Identification Number nn 2009 Estimated Market Va Wh t is the reason for your 2009 assess t appeal When did you pur se your home? h Date of Purchase Purchase Pric cwt j C� Have you changed your property 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, purcha or a market analysis by a real estate agent completed within the last year? Yes "or No If so, what was the determination of value? Wha 's .thee 2009 estimated market value that you are requesting? J Please provide any documentation supporting your claim of overvaluation or an erroneous classification. In order to appeal your valuation an appointment to view the property will be required. C d 0` i_ 110 _..a p �t 3 St r Y) tr t-) En v� y S x c ]c* -_a -v D -v �t OD -o y_ �_N D i 44 0 �C' lei j j .'��p CL Im r CP a D' Ngg O g c A cn Z m m fCJ O in D Zy p ct'ir I ai O '►t m m v n D: a w Ul Q' �'n m co z y O rn 0 0l0�0 I o 4 -j x f Ln m m �c z z z:z?= A y c En m Z 4 t z i 'EI co y g z�zfz;z, cn ,^c A C 2. Ar CD a o D 0 a y ce CL O E6 A. V o 0 0 0 0 a p b N z z z Z: m can m my r4 EI -y R D CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2009 Assessment Walk -in APPLICATION FOR APPEAL_ Local Board of Appeal and Equalization April 0, 2009, 7:00 P.M. Name( -rc; Daytime Contact Number: '0 Property Address Property Identification Number 1 0 o 2009 Estimated Market Value 41)0 What is the reason for your 2009 assessment appeal? When did you purch2S your home? Date of Purchase Purchase Price Have you changed your property since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. l tt >N.... Have you had a recent appraisal for refinancing, purcha o a market analysis by a real estate agent completed within the last year? Yes or o If so, what was the determination of value? W hat is the 2009 estimated market value that you are requesting? 4 Please provide any documentation supporting your claim of overvaluation or an erroneous classification. In order to appeal your valuation an appoi ntment to view the property will be required. c tp 'OD AI ZA s-- j 1j o W m Ln Z ti L r� Z 0. Cri. p I In cn r w l -n a cn -n cn -pi`s' cn l� m c w m aD mC m Z N N) i w'w{ r _E Z v to en y n� t�ti cn,cn �Z OD c Q i cA O =i z cr m 2 Z' O O O .1O Z co F, co ML 0 Q m i 4 i 3 i O x m Ri —rr v mt --41m mom £'C Ziz Z'Z= 3 N t -n 9. Z z Z'z; o z z Z: Z: 14 Iz m m C o Z'' Q, ao rn m n h a+ Z z.Z Z D D c n rn a v r. Review Of 3715 3721 50` Avenue N. PID# 10- 118 -21 -13 -0063 and 10- 118 -21 -13 -0064 For Monte Hanson Art Effects, Inc. 2009 Board of Appeal and Equalization ,l City off'Brooklyn Center A Millennium Community TO: 2009 Brooklyn Center Local Board of Appeal and Equalization RE: Mr. Monte Hanson Art Effects, Inc. 3715 372150 Avenue N. Brooklyn Center, MN 55429 Mr. Hanson appeared before the Local Board of Appeal and Equalization on April 20, 2009, regarding the 2009 estimated market value of $1,205,000 on his property located at 3715 and 372150 Ave N., Brooklyn Center. Mr. Hanson indicated that his property was reviewed by a broker who had indicated a listing price of $1,100,000 with a potential sale around the $960,000 range. Mr. Hanson completed an appeal application with an opinion of value at $975,000 for the two parcels. Mr. Hanson was requested to set up an appointment for the Assessor to review the property valuation and provide any market documentation to support a value reduction, Mr. Hanson scheduled an appointment to review the property the next day. The property is a 20,274 sq. ft. structure with approximately 45% office /showroom finish. The property is a combination of two original buildings and an addition. The structure has been remodeled to accommodate one occupant. The original block load bearing wails from the original buildings do not allow the structure to be opened up into large useable areas. The property has varying clear heights from 8'8" to 14' throughout. The manufacturing and warehouse spaces have 14' and 17' clear heights. The office areas and showroom have 9' and 12' clear height. While this lower ceiling height is non typical for an industrial property, the office /showroom square feet area finished exceeds that of a typical industrial property use. Office area is typically a higher finish quality and demands a higher rent than warehouse finish area. The property includes three service utility doors for delivery, but no ramping. Two of the service doors are accessible for truck delivery, however the third door is extremely close to 50`" Avenue and deliveries would restrict street traffic. There is limited parking on site for the property so parking is available on the street and across the street in the NSP parking lot. Each original building area retains a parcel identification number. This boundary line runs through the property North to South from 50 Avenue, but there are no restrictions or boundaries restricting a combination of the parcels into one. in prior discussions with Mr. Hanson, it has been suggested that he combine the parcels into one. The market income approach reflects the market's expectations of typical rent and expenses to arrive at a net operating income. A market derived income approach to the property has been included that indicates a market derived value of $1,200,000. This market approach was using market retail rents for tenant spaces of similar size. As the property is currently owner occupied. A market derived income approach has been included for review. The market 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 derived income approach indicated a value of $1,200,000, or $59 per sq. ft. using typical market rents for office and warehouse finish. Within Hennepin County there were five sales of industrial /warehouse properties during the sale study period of this size. Three safes comparables are included in this report and are shown in the enclosed sale grid. Two of the five sales countywide were not used as one property was substantially smaller and the second property had a clear height of 19'. Mr. Hanson indicated that the property was less desirable in the market with the interior wall configuration, low ceiling heights and inadequate parking. The three remaining sale comparables all have lower ceiling heights. All sales occurred in the sales study period. Industrial sales remained flat during the sales ratio time period, so no time adjustment is required. The properties vary in size and office /warehouse mix but illustrate a range of market sale price for industrial properties of this size from $53 to $73 per sq. ft. After full review of the property characteristics, condition and market information it is my recommendation to sustain the 2009 estimated market value of $1,205,000 or $59.44 per sq. ft. for taxes payable in 2010. The owner will also be provided with documentation regarding the combination process. Respectfully, Nancy Wojcik, SAMA City Assessor I o a t iz�: oi c�vcl 0 .lzzz �t G n L' L Q000 Qj o 00 cd zzz F U zzz v il;l lil 3> al �zzz OI °oo U �kf kf r l Q o 0 0 �z r.1 CQ pOOO N O Cq O 0-0 ,Sr N Opr/J V] p y >zz 000 FBI �r�� OW WI pa o a H C7 a s o 0 0 W z °o0o �z a R a vi kr)� a C o Ow rn a, z z w W RNA Z o ¢O W cn o h c� e N m L 0 0 0 O O p` a? y rry L fit' O O Cl r O t' V M pp w xzzz i a ti j. zzz cl U O U a�000 W V yN 2 °00 „x 0 V A�N c O Z Z o 0 o x x X000 p� Z w� oMMN cW a as w Z a�000 p �000 u� C oC vi vi a w c x a oZ0 ...7 W a "0 z o w ¢I o p 3 w (V O G1 O m 000 h ONO p O� (�NNN aF 'i r v� 't' F t. i M r it f 9� ti 1 /t /CL I .'Wp Hennepin County Property Map Tax Year: 2009 Toe data contained on this page is derived from a compilation of records and maps and may contain discrepancies that can only be disclosed by an accurate survey performed by a licensed land surveyor. The perimeter and area (square footage and acres) are approximates and may contain discrepancies. The information on this page should be used for reference purposes only. Hennepin County does not guarantee the accuracy of material herein contained and is not responsible for any misuse or misrepresentation of this information or its derivatives. MEL 5000 5000- 3800 5000 22 22 5001- 3614 saTHrWEIN 'r II W r w 3721 3715 3 707 3701 3615 x V z or 0 77 I L 4911 r sue• 4912 't Selected Parcel Data Date Printed: 4127/2009 3:54:18 PM Parcel ID: 10-118-21-13-0063 Current Parcel Date: 4/3/2009 Owner Name: MONTE K HANSON Parcel Address: 3715 50TH AVE N BROOKLYN CENTER, MN 55429 Property Type: INDUSTRIAL -NON Sale Price: $480,000.00 Homestead: NON HOMESTEAD Sale Date: 11/2002 Area (sgft): 16303 Sale Code: Area (acres): 0.37 A -T -B: TORRENS Market Total: $775,000.00 Tax Total: $28,064.14 Hennepin County Property Map Tax Year: 2009 The data contained on this page is derived from a compilation of records and maps and may contain discrepancies that can only be disclosed by an accurate survey performed by a licensed land surveyor. The perimeter and area (square footage and acres) are approximates and may contain discrepancies. The information on this page should be used for reference purposes only. Hennepin County does not guarantee the accuracy of material herein contained and is not responsible for any misuse or misrepresentation of this information or its derivatives. 5000 36i1p 22 22 5001 30itt AV6 N wv t r a. fir. tl y. lo t AM d t Selected Parcel Data Date Printed: 4/28/2009 9:52:23 AM Parcel ID: 10- 118 -21 -13 -0064 Current Parcel Date: 4/3/2009 Owner Name: MONTE K HANSON Parcel Address: 3721 50TH AVE N BROOKLYN CENTER, MN 55429 Property Type: INDUSTRIAL -PREF Sale Price: $0.00 Homestead: NON HOMESTEAD Sale Date: Area (sgft): 13048 Sale Code: Area (acres): 0.30 A -T -B: TORRENS Market Total: $430,000.00 Tax Total: $14,318.78 z o o rn V 0 3 t O p C% N, aU+ I "6 C s 69 0 ,g7o, r y c`a •o a� •o w a W n C's O O }7 GL U z O Q E T q Q q Q y°' ro> o oaC7 E V O c fir" O. U cd 7 y i3 •U O N O G G G�a"�� iC N 0 L (D z V C7 R: v) Q CL U Q Q Q FG C•C Q Q LY. C4 Q C bA w y 3 a G. ca •Q U U U a 6� U o vi do w ma c' =nn N E 2 y `v 8 IUi mr d a o$ lu N U U F 'G ..a is v rl� O C C• q y A •'I'i aEi U G C C= N M w 0.Uii N w "q E U O O f C ti O L a v lu v GT1 W W a v i on05 Q F V cq O A Q Ic 0 00 M C11 U c W e0+ rl M O m O O U b 02 x L a bp U U O n O C G o v a r ai _a w v a c w w w o E a a 0.a dGZ3v� Z a04�UUa1 �cG w Wa dZQw EF N N L ^c7 z h O O M n «3 t� O O M i w a N M Q R V v N y E v eq Y 'o 9 .R o ea y ca Y Y d o Ob 4) CIS a U U bn a a ou C au p p d c E c,o o o °oQ o k•o a v a� a.? c v t c� i= N¢�v�.aUwaQ W Nw«.acGw W W W aQawO.aOcC.a Ut7c7...av�� L V� 6J '3 QI L U �r 00 C W W O U cu 3 o v anE c a V z cC U. rn ti ti ro O i O 75 o M M u y a a a N N o .;C7 QaUQ dd d d cL cG a o0 o o C x dd 0.> ca i to N p id un c a ti 00 ri cn o v�� o U c 2 euoncn wGa y pja dO a c5 U E Ew aaa Y C 0 0 0 0 O O� 10 z O y O d M d U U 00 cl .0 a O O O W is V o c o s A= a a. U x ui o o U U C o U V U F c a0.�1dAZ3ri� 003 z a Od�UUW aV) u: u: wwa dzdw H O O 00 ol t` O Ir N 1 N C O M U U o v c d ;0 c p ca a is r. �,o 3� °^vz.> >a� add V y •o E c oCa -2-- L� ou o c 0 0 o X o on v a� v ti Q 0 o WW C c y L �Uu ,adwNw.�r�c�wwwa`daaO..aOcG.a UC7..av�3 L 1 CJ a 0. d SKETCH/AREATABLE ADDENDUM Parcel No 1 Property Address 3715 3721 50th Ave N City Brooklyn Center County Hennepin State MN Zip Owner Monte Hanson Client Art Effects Client Address Same Appraiser Name Nancy Wojcik Inspection Date 04/03/2006 85' i 00 First Floor 680' g' Avg. Ht boo B. 118, 62' N 6` ir t 14' U, 6 r3 °%5) C D ):5 t First Floor First Floor 5808' �T 13786' 14' Height 20 0 Varying Ceiling Heights 8'8" to 177 20' 118' 48 n Total GBA 20,274 sq. ft. Scale: 1 32 r AREA CULATIONS'-SUMMARY: C omment Table 1 Code: Description:. 'Factor...„ Net <S'Ze :Perimeter �NetTotals GBAl First Floor 1.00 13786 516 j First Floor 1.00 5808 352 First Floor 1.00 680 186 20274 Commit,Tablea2 ommnt Table 3 I Net BUILDING Area (rounded w/ factors) 20274 I CITY OF BROOKLYN CENTER APEX SOFTWARE 800 -858 -9958 Apx7l w Apex Medina T !n o r Q' a L 3 0 3 6 uroccaL m a N d o QQ a� y v r cn o g o E m a m L o 0 N m W Q m N N O O S N N O O O C O yq J fV O r r l0 N E e- rL Y Q f» is 3 e m d N a a o o d ya m O E v d o p N m m m co o g O T c d rn 0 c 3 j °o O N O N h 0) O) co O N Oct OR p 'C N C O� N O CO N O O C O T N r r p a O f0 01 0 V C Q O) y tly C U N O) O V V O V M N W T O C O Y O N W O 32 r-L 'O O O c N f9 to a U a OI O- L f9 Cl d O V O y d N T1 O r N, C_ C E N L EfT a N.� O CL aR 1- 2 U m W `m n 3 N 3 cYi d o of o O 'o o R m o o cq o L�� om oo a 0 v s d p n ry N o 0 0 3 L o d m (0 C p) W O) t S N N N N M Cl! N c 3 N 0 0 N V oN Q c c�3dorn is d g� TO m N U N E o'o Q o 7 d N L d O N L 7 d O O F m New 3d U O G co O O N W Lo C v m d E c v W x N 3 C r g rn .0 CL FL m a o c m o m N p r 8 °m O U) 8 o o cn ,L„ E N O O f0 (9 J c Q 0) O) Cl) M c l .y. M N N Cl) r 7 n N Cl (n C'4 Q C fA to a O fA 0� CL Cl) O N O N 3 c a6i rn d N O O L N C N O) COO O L L �C O R a t� Ol L U, m Q d r r O N h C h C M M y N 0 N W S N N 0) 61 d O O O O Clt m d N C C Y Vl O N Q YO OD OD C N N O N 0. 3 o y L N to O O r C u) U 0 0 TL y R OD U d c an d rn M O O C Z' EO a v ig d 2 W Q d c O m d d L c U is u LL N m E `o a` `o Q m C E a E Q m c E m a, t o U) m o v a 3 R i 3 U a v m v `o c ui i J c i 0 a m cr a O m d m m W C o O 11! r d ik V b LL N E W C R' d L d O L d R �70k O x 3 W O N w A m m R R d V A A Z U d W 0 W LL 0 m F ik Q :3 a M N 0 (L Q U W PROPERTY USE: Ind. Light Mfg. MUNICIPALITY: ST. ANTHONY Code: 494 RC: 00 iCOMPLEX NAME: Parts Plus whse COUNTY: HENNEPIN GBA 13858 WD ADDRESS: 2917 Anthony Lane PIN 06- 029 -23-44 -0040 Seq 2 Ratio Y Comp: Y AUDITOR ID: 966969 MULTI PID: N COMMUNITY: NBRHOOD: PROPERTY DESCRIPTION MARKET DATA Year Built/Effective Year Built: 1967 1970 Buyer: Anthony Lane Partners, LLC Const Quality/ Condition: AVERAGE AVERAGE Seller: The Kunz Oil Company Const Class/ No. of Bldgs Masonry Bearing wan 1 Sale Data: Date of Sale:. 12/3/07 Exterior Type/ Roof Type: Concrete Block Flat Total Purchase Price: $730,000 2nd Exterior Type/ Roof Cvr: Brick Built -Up Membrane Down Payment Amount:. $D SIZE USES First Floor Area/ GBA: 13,858 SF 13,858 SF Other Terms: Total Floor Area/ NRA: 13,858 SF TERMS Bldg Perim./ Shape/ Units: 516 FT Rectangle No Data Available Mezzanine Area/ Use: SF Cash Equivalent Price: 6.23% $730,000 Bsmt Area/ %Fin/ SF 0% 0% GBA Cash Equivalent Adj: Bsmt Use: LESS: Personal Property: $g Bsmt Fin/ SF 0% GBA PLUS: Special Assessments: Ind:Y $0 j First Floor Use: office/warehouse Cash Equivalent of Real Estate: $730,000 First Floor SF/ 13,858 SF 100% GBA 2nd+ Floor Use: Sale Analysis: Sale Price Per Sq. Ft. TFA: $52.68 2nd+ Floor SF/ SF 0% GBA Sale Price Per Sq. Ft. GBA: $52.68 T O ff Ar 2,217 S F 16% GBA Sale Price Per Sq. Ft. NRA: Primary Heating/ Pct: Space Heaters 84% Sale Price Per Sq. Ft. Land Area: $18.81 Secondary Heating/ Pct: Package Unit 16% Sale Price Per Room: Air Conditioning Pct: 16% Income Data: j Sprinklers/ Elevators: 0 Garage Ramp Spaces: PRIVATE DATA Surface Parking Space: 30 Parking Surface Type: Asphalt Rent Schedule: Multiple Tenancy: Y PRIVATE DATA Bldg Ht/ Avg Clear Ht: 14.0 FT 12.0 FT Stories: 1.0 Avg. Finished Ceiling Ht: 8.0 FT Total Land Area/ Topography: 38,800 SF level Useable Land Area: 38,800 SF Zoning/ Land Def Cd: Light Industrial F Trackage/ Utilities: N all public Land Big Ratio/ Excess Land: 2.80 to One N Environmental Concern Ind: Other Amenities: Summary Comments: This is a two tenant building that was listed for $800,000. Parts plus will remain as a tenant in half of the building. Newer parking lot. Office finish is original and is being redone and expanded somewhat in the new owner's space. Buyer is a mechanical contractor and had been leasing for the last seven years in New Brighton. Although records indicate the roof was replaced in 2001, a recent inspection indicated 5 to 7 years of remaining life. Price reflected this according to the buyer. Estimated replacement cost is $100,000 in today's Property sold in 4/2004 for $550,000. PUBLIC *ACE *PUBLIC s r PROPERTY USE: Ind. tight Mfg. MUNICIPALITY: MINNEAPOLIS Code: 494 C RC: 00 l OMPLEX NAME: COUNTY: HENNEPIN GBA 22060 WD ADDRESS: 815 Cedar Ave PIN 25-029 -24 -33 -0159 Seq 2 Ratio Y Comp: Y AUDITOR ID: 975297 MULTI PID: N COMMUNITY: Long NBRHOOD: Sewd Tal :9 PROPERTY DESCRIPTION MARKET DATA Year Built/Effective Year Built: 1963 1975 Buyer: The After Midnight Group LLC Const Quality/ Condition: AVERAGE AVERAGE Seller: Franklin National Bank Const Gass/ No. of Bldgs: Masonry Bearing wan 1 Sale Data: Date of Sale: 5/30/08 Exterior Type/ Roof Type: Concrete Block Flat Total Purchase Price: $1,200,000 2nd Ext Type/ Roo C vr: Brick Tar and Gravel Down Payment Amount: i SIZE USES Ot her Terms: First Floor Area/ GBA: 22,060 SF 22,060 SF TERMS Total Floor Area/ NRA: 22,060 SF No Data Available Bldg Perim./ Shape/ Units: FT Multiple Angles Cash Equivalent Price: 6.46% $1,200,000 Mezzanine Area/ Use: SF Bsmt Area/ %Fin/ SF 0% 0% GBA Cash Equivalent Adj: Bsmt Use: LESS: Personal Property: Bsmt Fin/ SF 0% GBA PLUS: Special Assessments: Ind:N $0 First Floor Use: Shop and showroom Cas Equivalent of Real Estate: $1,200,000 First Floor SF/ 22,060 SF 100% GBA 2nd+ Floor Use: Sale Analysis: Sale Price Per Sq. Ft. TFA: $54.40 2nd+ Floor SF/ SF 0 GBA Sale Price Per Sq. Ft. GBA: $54.40 Tot Off Area: SF 0% GBA Sale Price Per Sq. Ft. NRA: Primary Heating/ Pct: Forced Air 50% Sale Price Per Sq. Ft. Land Area: $44.92 Secondary Heating/ Pct: Space Heaters 50% Sale Price Per Room: Air Conditioning Pct: 100% Income Data Sprinklers/ Elevators: 100 Garage/ Ramp Spaces: PRIVATE DATA Surface Parking Space: 26 Parking Surface Type: Asphalt Rent Schedule: Multiple Tenancy: N PRIVATE DATA Bldg Ht/ Avg Clear Ht: 12.0 FT 11.0 FT Stories: 1.0 Avg. Finished Ceiling Ht: FT Total Land Area/ Topography: 26,713 SF Useable Land Area: SF Zoning/ Land Def Cd: I2 F Trackage/ Utilities: N Land Big Ratio/ Excess Land: 1.21 to One N Environmental Concern Ind: Other Amenities: Summary Comments: The buyer bought the property from a bank but did not know of a foreclosure status. The property was marketed through a broker. Pin #:2502924330159 Seq #:2 R. r PROPERTY USE: Warehouse Storage MUNICIPALITY: GOLDEN VALLEY Code`. 406 RC: 00 �OMPLEX NAME: Reddy Warehouse COUNTY: HENNEPIN GBA 14716 WD ADDRESS: 900 Colorado Avenue PIN 04- 117 -21 -23 -0004 Seq 1 Ratio Y Comp: Y AUDITOR ID: 968249 MULTI PID: N COMMUNITY: NBRHOOD: PROPERTY DESCRIPTION MARKET DATA Year Built/Effective Year Built: 1959 1969 Buyer: Reddy Investments, LLC Const Quality/ Condition: AVERAGE AVERAGE Seller: Humphrey, John W., ETAL Const Class/ No. of Bldgs: Masonry Bearing wan 1 Sale Data: Date of Sale: 12/14/07 i Exterior Type Roof Type: Concrete Block Flat Total Purchase Price: $916,800 2nd Exterior Type/ Roof Cvr: Brick Down Payment-Amount: $916,.800 SIZE &USES Other Terms: First Floor Area/ GBA: 14,716 SF 14,716 SF Total Floor Area/ NRA: 14,716 SF TERMS Bldg Perim./ Shape/ Units: FT Rectangle No Data Available Mezzanine Area/ Use: 0 SF Cash Equivalent Price: 6.00% $916,800 Bsmt Area/ %Fin/ 0 SF 0% 0% GBA Cash Equivalent Adj: Bsmt Use: LESS: Personal Property: $10,000 Bsmt Fin/ SF 0% GBA PLUS: Special Assessments: Ind:N $0 First Floor Use: Office /Warehouse Cash Equivalent of Real Estate: $906,800 First Floor SF/ 14,716 SF 100% GBA 2nd+ Floor Use: Sale Analysis: Sale Price Per Sq. Ft. TFA: $61.62 2nd+ Floor SF/ 0 SF 0% GBA Sale Price Per Sq. Ft. GBA: $61.62 Tot Off Area: 848 SF 6% GBA Sale Price Per Sq. Ft. NRA: Primary Heating/ Pd: Space Heaters 95% Sale Price Per Sq. Ft. Land Area: $28.07 Secondary beating/ Pct: Package Unit 5% Sale Pr-ioa- =Per- Room: Air Conditioning Pct: 100% Income Data: Sprinklers/ Elevators: 100 Garage/ Ramp Spaces: 0 o PRIVATE DATA Surface Parking Space: 25 Parking Surface Type: Asphalt Rent Schedule: Multiple Tenancy: N PRIVATE DATA Bldg Ht/ Avg Clear Ht: 14.0 FT 12.0 FT Stories: 1.0 Avg. finished Ceiling Ht: FT Total Land Area/ Topography: 32,304 SF Level Useable Land Area: 32,304 SF Zoning/ Land Def Cd: I -394 F Trackage/ Utilities: N All Public Land Big Ratio/ Excess Land: 2.20 to One N Environmental Concern Ind: Other Amenities: Summary Comments: Property has been on the market with broker for several years. Buyer had adjacent office property under contract when he made offer on this one. Madhu said seller did not know he was in the process of buying the adjacent property and that he did not have to pay more than market value. The $916,800 price includes .$10,000 of personal property. PP is a forklift, racking, filing cabinets, chemical lock box, Etc. Except for a new roof in 2002 and the AC units, this property is very original. Parking lot has large holes and needs to be replaced. The 848 sf of office is modest and dated. Exterior is only partially painted and curb appeal is minimal. So far Madhu has spent $6,000 to trim the trees around the building. He plans to spend $200,000 total to modernize the property. He will then occupy with his business. 2 dock doors. Site visit on 3/25/08 found the building being gutted. UBLIC *ACE *PUBLIC I oil Rl UM F E z z g, PROPERTY USE: Ind. Light Mfg. MUNICIPALITY: ST. LOUIS PARK Code: 494 RC: 00 YCOMPLEX NAME: COUNTY: HENNEPIN GBA 15000 WD ADDRESS: 2635, 2637, 2641 Louisiana Avenue South PIN 08- 117 -21-42 -0198 Seq 2 Ratio Y Comp: Y AUDITOR ID: 965415 MULTI PID: N COMMUNITY: NBRHOOD: PROPERTY DESCRIPTION MARKET DATA Year Built/Effective Year Built: 1957 1973 Buyer: K7 Realty, LLC Const Quality/ Condition: AVERAGE AVERAGE Seller: Timberland Group Inc Const Class No. of Bldgs: Masonry Bearing Wall 1 Sale Data: Date of Sale: 10/30/07 Exterior Type Roof Type: Brick Flat Total Purchase Price: $1,100,000 2 n d E x te rior Type/ Roof Cvr: Built -Up Membrane ,�,x _pDwn Payment Amount;, SIZE USES Other Terms: First Floor Area/ GBA: 15,000 SF 15,000 SF Total Floor Area/ NRA: 15,000 SF TERMS Bldg Perim./ Shape/ Units: 400 FT Rectangle No Data Available Mezzanine Area/ User SF Cash Equivalent Pricer 6.44% $1,100,000 Bsmt Area/ %Fin/ 0 SF 0% 0% GBA Cash Equivalent Adj: Bsmt Use: LESS: Personal Property: Bsmt Fin/ SF 0% GBA PLUS: Special Assessments: Ind:Y $0 First Floor Use: Ca Equivalent of Real Estate: $1,100,000 First Floor SF/ %i 15,000 SF 100% GBA 2nd+ Floor Use: Sale Analysis: Sale Price Per Sq. Ft. TFA: $73.33 1 2nd+ Floor SF/ SF 0% GBA Sale Price Per Sq. Ft. GBA: $73.33 T O ff Area`: 4,090 SF 27% GBA Sale Price Per Sq. Ft. NRA: Primary Heating/ Pct: Space Heaters 67% Sale Price Per Sq. Ft. land Area: $60.20 Secondary Heating Pct: Forced Air 33 Sale-Price-Per Room: Air Conditioning Pct: 27% Income Data: Sprinklers/ Elevators: 0 Garage/ Ramp Spaces: PRIVATE DATA Surface Parking Space: 4 Parking Surface Type: Asphalt Rent Schedule: Multiple Tenancy: N PRIVATE DATA Bldg Ht/ Avg Clear Ht: 12.0 FT 11.0 FT Stories: 1.0 Avg. Finished Ceiling Ht: FT Total Land Area/ Topography: 18,271 SF Level Useable Land Area: 18,271 SF Zoning/ Land Def Cd: Cl- Commercial F Trackage/ Utilities: N Public Available Land Blg Ratio/ Excess Land: 1.22 to one N Environmental Concern Ind: Other Amenities: Summary Comments: Property was not openly marketed. Buyer and seller knew each other. Buyer bought business and RE from seller and the CRV is reflective of the RE only. An appraisal was done to set real estate price and for financing that supported the 1.1 mil purchase price. Building is in excellent condition according to buyer. At one time this was a multi- tenant building but according to the buyer it is currently a single owner occupied building. UBLIC *ACE *PUBLIC a? s A r INCOME WORKSHEET 2009 Pa 2010 Y y F. Q PID.1#1.1.1€3.21.133 -0063 arid: 10.118.211.13.1308:::::::`:::: ffe :1:1:1:1:1:1:1:1:1:1:1:;:;:1:1: 1:1:1:1:1:1:1:1:1:1:1:1:1:1:1:1 RR€ 3l ECT; NAMEss;;.. A.......... r1c, S 1 i.:... c �t CTUALS. Z ...........................E... 1:1::: 1 .V )r cone Apj oa ..h.... NOT k............................., ..Mon.. e'. Hanson PROPERTY TYPE CC: INDUSTRIAL /WAREHOUSE I YEAR BUILT Built 1952 INCOME ANALYSIS GROSS BUILDING AREA 20,274 OFFICE INCOME $94,350 NET RENTABLE AREA WAREHOUSE INCOME $42,815 MEZZANINE INCOME $0 Blended Rent' OFFICE AREA 10,200 48% PGI $137,165 6.77 Sq Ft GBA WAREHOUSE AREA 10,074 52% MEZZANINE AREA 0 0% LESS: VACANCY $10,973 OFFICE /SHOWROOM RATE $9.25 EGI (before concessions) $126,191 WAREHOUSE RATE $4.25 MEZZ. RATE LESS: RENT CONCESSIONS $0 VACANCY ALLOWANCE 8.00% FREE RENT $0 SQUARE FEET VACANT 1,622 SQUARE FEET OCC. 18,652 EGI $126,191 OF EG RENT CONCESSIONS 0.00% LESS: EXPENSES $5,677 4.50% FREE RENT 0.00% LEASING $9,886 7.83% TURNOVER RATE 30.00% TENANT IMPROVEMENTS $10,792 8.55 TENANTS REMAINING 70.00% RESERVES $4,055 3.21% AV. LEASING PERIOD 5 MANAGEMENT $6,310 5.00% TOTAL EXPENSES $36,718 29.10% '7 89 1 1 1 1 1 1 1 1 1 1 EXPENSES /S 3 1: >1:1<: 1: 1:> 1: 1 MANAGEMENT 5.00% TENANT IMP. COST NEW $15.00 21tS$ AiP(T`ItiLI E tT LU A00. RENEWAL $10.00 PER SQ.FT. GBA $59.19 EXPENDABLE VAL. OF TI 50.00% PER SQ.FT. NRA $59.19 Capitalized value of reserve $54,363 RES. FOR REPLACEMENT $0.20 SQ FT EXPENSE RATIO 29.10 LEASE COMMISIONS -NEW $3.00 SQ FT LAND AREA 59,625 RENEWAL $2.50 SQ FT EFFECTIVE TAX RATE 2.61% :CAP RATE 7:25 TAX.IATI a1a; 2009 Assessed Value $1,200,000 RATIO 11 OVERALL RATE....: 7.46 /Q'. PER SQ.FT. NRA $59.19 1.00 4/28/2009 art effects proforma.xlsxArt Effects Market Inc 82 50TH AND FRANCE INDUSTRIAL; BROOKLYN CENTER MN. Y 2008 ASSESSMENT CIr. Ht Use: Ya Q ::::2 0@ Uhif. lUe LOCATIOIV: :c«ie :::�:zao9.unz. aiu o 1 5001 France 36 LAND 271,740 Land 51,500,000 $5.52 Land $7,500,000 $5.52 5001 France Ave. n. 407 GBA 121,640 Building 52,800,000 523.02 Building $2,800,000 t23.02 PID 10-118-21-24-0002 Total i4,300,000 $35.35 Total $4,300,000 $35.35 Age-1965 useano 2.23 Change ...;E;:;t1<OOh:; Change 14.40% tr..�rov S .O,i;00 2 Wickes 32 LAND 548,213 Land 52,900,000 $5.29 Land $2,900,000 5529 4837 Azelia Ave. N. 407 GBA 203,040 Building 56,913,700 $34.05 Building $6,913,700 $34.05 10-11a-21-23-0006 Total 59,813,700 $48.33 Total $9,813,700 $48.33 :�:r.^.a:s.7 .k::gus;, 7.u07 UB RATIO 2.70 Change :;;:Q.OD �j,!; Change 14.17 im� rav 3iKC,ii(!0 3 Stoner8 Associates t3 �AND 21,760 Land $130,000 $5.97 Land $730,000 $5.97 5001 Drew Ave N 453C GBA 4,906 Building 5330,000 $67.26 Building $330,000 567.26 10-118-21-13-0003 NRA 4,906 Total $460,000 593.76 Total $460,000 393.76 FierodeEc-G i.^. ^O.�i2 L:B Ratio 4.44 Change ':�i�;0i;0U�;: Change 6.48% $93.76 :J??ic� F3e� 4 BreakTraditionUniforms i;;;i9:f�;:;:;:;:;;LAND 22,984 Land $735,000 $5.67 Land $135,000 $5.87 3607-SOthAve.N. 494A GBA 3,680 Building E155,000 542.72 Building E129,000 $35.05 PID 10-118-21-13-0059 Total $290,000 $7B.60 Total E264,000 571.74 Age-7951 useario 6.25 Change ;:;___..._:;::;:;9;8��; Change 14.34% w:-;::=::<i:'?:R::�i�:::�:;�. v.4.� �•:v:tv.:u�.::i-::':l'i+ .n\ .iti:iiv.ti.} �'�i4 v: •}i. ti... :.}•:::ni'^i+i:""{:.;v::.; ::}:::w::::::::::.w:::{: :::::::::::::........:::::::::::i:A:?•::�ii:i?•:iiiiiiiv �i::::.i:.:f•iv:'�i:.:i:i'.i�•ni:iy :::::::::::::::::n::..40ii:ii�:::�:+�:::�:::: --.�\.....;�.}::::::::n�....;.... .:p .•w::.::•::•:_.:::.: 6.67 >::9:i><:>s B: Land $100 000 WEhif �§�B•::::::::•::::•::•::•::•::•::;;; :............��1L .:..�5..�: :�::o::;:�::: w.� w..•.c. 6 0 3.46 ;�:�:i:_??::3A`�5���i�}�i!�i':-0��:�;:o:�::�::�::�::�•�:::�:�::�:�::�::�:?E541A�'r::;�8Pt�;;�;i:�;:`•:::;:;:; Y�.,• Di�:�: Buildin $1 00 0 $4 ::::::::::::::::::::::::::::::::::_.............:::::::::::::::::::::::::::::::::::::::::.:::.i,'�'i,,,,B$�„� 9 o I 260 00 0 70.65 T ta S .��t.�.�� r.��:; a x� x s::�s:;:s:�r •.:::.:a• ::r.;•:;::::;•:::�•:w :..,..........:ii-ii:._.. ..�::::::::�?:_:::::?;i:::iii;:''� e 14.59%. .::.:::.�E:;#9, ::::::::::::::�:::.�'.tFB rta .$.621......... Chang o o::•::o-::;•::•::•>r..............::. ..h .y Oyy;y. S Y Si�:v�'v� �a.v4. If .F� LF �}`k.:•}rr?iiii:•:'v:viii:vt:i:iiii:i::<:i:vi.:?i:;:'iiiiii:4�.iiiiiii:}T}i:•ii'r':•iiiiii:iiii±ii:?'vi:•i?:•:�i:�:i:•T:•}:•:i::•i:•:: ...Ey+v+.Y ................................n....:.::n:::::::r::::::::::::::::::T�::::::::: •._:::::::::::::::::::n��. i; ii'•:y';iii::�:.;v._;: ;.:_A;_.:�.};:::.;�. r t� a c. t '`'t <::::t:.\.. ii::tx'::�'>:::t::t;it:::::iE::::it i;[?i .t:�::;+ �:fi2-::�::::fii?::::;:::::::�::�::f;'•;:�: f:?f:�:f::�::�: 5::�: ffi�:i�Sf: i�::=::=::=::=i:=:=:i:=:::;::::::::::?:::�:`::�r:�::::�:i�::�:�::�i�::�:�::�:�: t:t::�::�::�::�::�;:ai�: i�:i�::$i�:i� :ii ;f::�f:�:S::q:::::-F:::=:=::�:: ::�::�ir::�:::i:�:i::�i::Si::S:tr:�::t: f�t::�: :>:.�::_;:!k3�s"�.#4tf�:3�:�s�..�S�''.a�`.�4'. .£f3..•�i�S6:•::�:::..:..:"""""''SxYlNk�:•:::??::�•:::: •::•:�'��i3>::�>i;::ii�:::?::a':c'::::> 7 D�rSr���ViltelEa a8 :tANA tSiiETO; Land �98;060 $H93: Gand $9a0tW:: $6.fi3; ;�Xat .5o#ii Ave tt 4�iA' df7A �S$EY <8undtng �1f[O;p4a $36?ic: F.��±itpiag 5loQQQQ; Ss8,76 ;PE41�-i#e�413-fl4&i' Totaf ��85040 g7�'�4: 'f:�tta4 3i8$flQO;: 87G7+L; Jlge 1954:; ;>u�enrro-,;; SH9 Ckange.., 06RYr Gliange ��sSK,i 8 Harkess Engineering 13 LAND 15,000 Land $98,000 $6.63 Land $98,000 $6.53 3707-50thAVe.N. 392A GBA 5,604 Building 5300,100 $53.35 Building $300,100 $53.55 PID 10-116-21-13-0062 ToWI 5398,100 $77.04 Total $396,100 $71.04 Age -1952 L/B RATIO 2.68 Change ;1� p0'�i Change 16.44 9 Art Effects a 0 LAND t2,E98 I:and &73>000 55.81 Land $75,OOU S�.Bl 3715-50th:�t#@.M. a �82fk;;:G6i� 14.+�66: 9ull41�ng.: $T�lQiQOG� S�C838:; i3U3tdlp� i-$749�QQA;: 5488,�:; I S PlP t0-418-24-13-9t163 7'Dt�# �7T5,OD4 �5387 'fotat $T75�500:: 5��.�T; A�e 1952 usraar�n {�89 Ghange i70D� Ci�a.Flge tA9fi/e: �.�:�i7tta4�dlA!tigw#riewalGbeNdeeatotalfs .��.54 $59�ETh I I ..c i� .�i .:;i e i: 40 ;ArtEifec� ..:e �8 -.;F.ANJP t298S.;. 3>ak�4 �73:4U0 S�St: �:a�d_ i1S�3Qb:= Ss$4: 372i �SOth:Ave Pl. 484A .;GSA; S Bfl8 �dttldiag �BS�S;flI1fJ 9�> Bui[cfufg $395,i10A,. $G412 P►a so i�a:7a �s-oos� a ��ai ra�tt,ona tota► �t3u�ioo; ;���ua: a <:Age f95�:: Ls�ariu::" 2'G Chaifg� t� 04Yo- Ghartq�..:.:.:.` �552%: Comb��ed7'atalaf£luild�ngs rorx�asa; 2Q,1D.3: T $i.?DSOAIt �`sB�9: S'��05i�00: ;S�B4 ;;:kand35;���$5_8! bu��s,:c[�avarH s b Oa% 2� 44%: t1 DouglasMetalSpecialties 1B19 LAND 64,528 Land 5355,000 85.50 Land $355,000 $5.50 4906 France Ave. n. 494A GBA 25,619 Building 51,145,000 $44.69 Building $1,145,000 $44.69 PID 10-118-21-13-0072 Total 51,500,000 $58.55 ToWI $1,500,000 $58.55 Age •1951,1971 &2003 L/8 RATIO 2.52 Change 0 OQ°y;i Change 22.48% i� T+n�ai.akes Bus�nessall-Gafi�oa ?6 FJFt�D �7+i,$55 �ctd J� OOQ $�A7: I.and $4 90�,40b: $5A7:- 3�Q(YLakeRirezzel�ve �Ff11'C .;�A 41t�2�X Batldin� �,a6Q,50Q $�?`�5, Bu3Ed�»� �a95�,�00 537�65; :REU1�t96�2#��4-�iQ�W 3BT "fot�E ��tiSASqQ �54,9C�; 7'Ctai 3&D505�::; gS+LgQ;; ;CarfRsou <C'igRn7'ic>;:"� 661---� -:Ghange flODh -Ci�an,ge tA3�p; 13 :;l'�a l.akes BuSUi�ss:=$tdg 1f 24 <�.k[4D 259 ;1:9i�Yd �'r9 55fli0AQ'. $T� 46,: f.and, S� $5i9,.Q00 $5.18 >483ff/�zelidAuet� AO'1C :;G9A ia�,59� :Bq�Gitrg �#:at�,4>3D0 $38:�5:': �la3ft[+t�9 $4,98�.940 S38.OS: tQ-148-27=24-RU3A '�otal �S7't�,9a(F $SX1.5;: Total `SS,?74,940; 552:19> MTIToro! Ghange 1�.OD'l CMa'n'9e 2.i33'o: :rYs�°:4tv�' x tsknl3i.�ff>: 14 Con Agra Fertilizer 15 LAND 211,969 Land 51,070,000 $5.05 Land St,O50,OW $4.95 4821 Xerxes Ave. n. 406 GBA 18,964 Building 5100,000 $5.27 Building $100,000 $5.27 PID 10-718•2141-0020 Total 51,170,000 $61.70 Total 51,150,000 $60.64 Age-1981 �BRano 11,18 Change ,-";i;;iA;:T�yy: Change 19.29% Potential Land Site Redevelopement 3 Structures Remaining To be Razed ::k?QtEIlff�l;fi,tftFt2)tdffa#3Gtt:�tlhr�:Cord REVtSM+ 50TH AND FRANCE INDUSTRIAL; BROOKLYN CENTER MN. 2008 ASSESSMENT Clr.Ht 4se 2008 Unit:V.aFue u �C4�A�I:Oi�f coae :�::suu�iiR�ivaiPe 15 BOS Partners LLC 22 LAND 284,147 Land 57,505,000 $5.30 Land $1,505,000 55.30 4810 Lilac Dr. N. 391B GBA 75,712 Building 51,375,000 $18.16 Building $1,375,000 $18.16 PID 10-118-2142-0039 Total 52,880,000 $38.04 Total $2,880,000 $38.04 53i� C'.12CJ4 �'L,3;O,CUC L/B RATIO 3.75 Change ;:;;;iY,i00?k: Change 18.03% 16 Cass Screw (Old K 8 K) 16 LAND 149,295 Land $825,000 $5.53 Land $825,000 $5.53 4800 Lilac Dr. N. 494 GBA 40,309 Building $870,000 821.58 Building $1,080,000 $26.79 PID 1 0-1 1 8-21 13 2-0 04 6 Total $7,695,000 $42.05 Total �$1,905,000 547.26 Age-1 9 5 611 9 80 L/BRATIO 3.70 Change At;fi2'!�: Change 6.64% adj to land ROW 17 Omni Tool 17 LAND 64;450 Land 5375,000 $5.82 Land 5375,000 55.82 3500 -46th Ave. n. 494B GBA 27,017 Building 51,165,000 543.12 Building $1,165,000 $43.12 PID 10-116-21-02-0042 Total 51,540,000 $57.00 Total $1,540,000 $57.00 Age -1967-94 us Rnrio 2.39 Change ::...........;;:;:;;:F��3CI%�: Change 10.41 18 Bergman� Machinery 12 LAND 25,025 Land $146,000 $5.83 Land $146,000 $5.83 3420 -48th Ave. n. 494A GBA 9,312 Building $390,000 $47.88 Building 5409,500 343.98 PID 10-118-21-42-0017 Total $536,000 $57.56 Total 5555,500 $59.65 Age-1961 venaiio 2.69 Change ;;;,,,,,,,,,;;;;;::�;54�1a; Change 9.48% 19 Midwest Screw 13.5 LAND 24,000 �and E146,000 $6.06 Land $146,000 56.08 3410 -48th Ave. n. 494 GBA 9,312 Building t390,000 $41.88 Building 5409,500 $43.98 PID 10-118-21 32-0018 Total $536,000 $57.56 Total $SS5,500 $59.65 Age-7961 uBRA710 2.58 Change i;,,.......:;;;i;:;::3[5t:�: Cbange 10.00% 20 Premier Electrical 20 LAND 30,300 Land 5775,000 55.78 Land 5775,000 $5.78 3400 -48th Ave. n. 392C GBA 9,648 Building $480,600 $49.81 Building $480,600 $49.81 PID 10-116-2142-0079 Total $655,600 $67.95 Total 5655,600 $67.95 Age-1961/WaIIHt-20' us24no 3.14 Chanqe 51,136,200 Change 10.74% Remodeled 21 Sparky Abrasivesl Surly Brew 12 LAND 53,000 Land 5305,000 55.75 Land $305,000 $5.75 4817 Dusharme Dr. 406A GBA 23,380 Building 5800,000 $34.22 Building $785,000 $33.58 PID 10•116-2142-0021 Total 51,105,000 547.26 Total $7,090,000 $46.62 Age-1961 usenrio 2.27 Chan e""""""�'�'�1;38"{;. Change 15.64% ?;:;iG;?`?;;`i�;:::> yC3. lacar� t >F:fi� Yi? 22 Diversicolndustries ;i:i;i;;i4;�i;i;i;;;;LAND 30,360 Land 3178,000 $5.86 Land $178,000 $5.86 3401 -48th Ave.n. 4948 GBA 17,298 Building $730,000 $42.20 Building 5744,800 543.06 PID 10-118-2142-0015 Total 5908,000 $52.49 Total $922,800 553.35 Age-1967 uennno 7.76 Change i!.........;;:;;:;�f;;60!1q; Change 10.08% 23 Witt-Miller Inc. 14 LAND 31,440 Land E183,000 55.82 Land 5783,000 55.82 3415 -48th Ave. N. 494A GBA 10,000 Building t405,500 540.55 Building 5405,500 540.55 PID 10-118-2142-0014 Total 5588,500 $58.85 ToWI 5588,500 558.85 Age-1961 UBRATIO 3.14 Change ::...........:i;;E;;GlQNXe; Change 10.83% 24 MidwestScrew 15 LAND 31,440 Land 5781,000 55.76 Land 5182,000 55.79 3501 48th Ave. N. 4948 GBA 10,000 Building t406,500 540.65 Building 5406,500 540.65 PID 10-118-21�2-0013 Total 5587,500 556.75 Total 5568,500 558.85 Age-1961 usitnno 3.14 Change ;;;,,,,,,,,,;;;;i'AL1i7!f:; Change 11.67% 25 Milton Granquist 16 LAND 44,414 Land 5258,000 55.81 Land 5258,000 $5.61 3515 -48th Ave. N. 494 GBA 8,500 Building 5267,000 531.41 Building $267,000 $31.41 PID 10-118-27-42-0012 Total 5525,000 $67J6 Total $525,000 $67.76 Age-1961 L/BRATIO 5.23 Change ;,,,,,,,,,,,,;;£i;O;AQ°/: Chaoge 9.56% 26 Cass Screw 72 LAND 43,523 Land 5252,000 55.79 Land 5252,000 55.79 3615 48TH AVE &(3607) 494A GBA 15,184 Building i600,000 $39.52 Building $613,700 540.42 PID 10-118-21.12-0044 �(1;Q�5E;:;:; Total 5852,000 556.11 Total 5865,700 557.01 Age-1956/61/96 L�BRnTio 2.87 Change ;>::_`.+i5S8�i: Change 10.42% 27 Cass Screw 15 LAND 85,020 Land 5495,000 55.82 Land 5495,000 55.82 4748 France 494A GBA 35,970 Building 57,700,000 $30.58 Building $1,276,000 $35.47 PID10-118-2142-0007 i;:;fa495;i;; Total 57,595,000 544.34 ToWI 51,�71,000 549.24 ueRA7lo _236 ...::...........:Change.:.�. .Change 1007% ?:i:;::; 55�6'.' ;>::»::f4�� �t�:z>: ?:<;>.jSS:�> >:�::»s: <:�:aitid:'>s z:> �>i?>i?:�>?si?»?t»?s>?:�iisi?:�i?s»:�>??i?s>is»>i?>?'si:�>i:�:�>:�>:�>:«�>s:�:�>s>:�>?i?>:�i>i:�>t>"s»>; 2>?; �>'s>?»E�>i>i:�?ii?:�>?:�i>s>i?i??>i>i>?>:�»> �'»:�?>:Sisiis >s>??i??>::>:<� `>:�g»�as�:S�iew>:>:»:> >:<:»:<::»:�:»s»>LA�Kk:zz'>:»»>:':2�+'7��':?:'>:>:'>:>:�:':'»E�i�f':�:>::>::>i»::;><;;:9f�1�`SS 44>:>:::»>:: �sisir„i: ::.:.::,:r::>s>:�»;»;:..; a: s a>:::<:;:<::<::<=:«<: s a>::: s xaa..�sq 3!. .:.:.::.:.:.:i��TS,!�!�!::.::::::::::5�.;,6'�...:::.:::�u:4iRl9::::.:...:._......�.............::::::_:::::::::::: .87 Q:<sis>::<i: 65 Oas: 56;BIY: t; i::>: i> :ata9si>i»>:;<=: E ;<;<::€::PlII>�:0-7'28< l=A3<OODB:>:<::<?::>::<z:?<;ifo:495>:;:;:;:;:;:;:;;;;;;;;;;;;;;;;;;;;;;;r,:;>:o;;;::Talat??E<i??i>i:iii:iii??: 6'QUD";?;:<:>:::< �1....:4Q......................t..... ;;�:;':�p :::::::::�:�;:�:�i:�:�:�:�i:�i:�;:�:: .;>;::8 >::a�.t r a�s7::<:>:::::<:::>::::::>::::::>::>:::<::z:>::::::>:::::::<:>::::>::>::::>::>::»>: �:::>:«;«::::::>:;:::>::::>:i:«::::««:>::>::>::::>::::>::::>::::>�� :�:���:;�i:-:;� :.::::::::::::::.:::�.�:.:::�.:�:.:�.::::::�:::::,::::::::::::f.��RAT1#:.� :.::::::,:::::::::::::::::::::.:�.'X.:��Yo......................:::........................::::::::::::::::::::::::::::::::::::::::::::::::: 50TH AND FRANCE INDUSTRIAL; BROOKLYN CENTER MN. 2008 ASSESSMENT Clr Ht �:1.lSB 8 e e L:()�ATIQN coae ::::::-:soasu��� zoo..u.�ty.!�.. io�a�;s �,a;�uQ '��8aS,3r0 �ana s�s,aaspoa �s��; iand s�s taz uo�z:: s� 3s:: I ��,92A s+,rta��� �aa�ss�� $sa oo:: �auad[n� �oe too: �3s,a9 �wse�sssvw�cj�Hnsr�scr�;i�peacrsc. ,TotaE �FSD&4BOQ $4959:: 3'otal $g829�tOLk:: 5�9.79: :mi:cir. 2,`+ :;vs�i� iLM�3,�. 5Gu '�fJ' Chaaye2608.Yp �Fi.�kd7 'l3.6i°k�: i: i� -Si�O'te liitl,lmprov, 33,69% incl.3cnprov_' C1TY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL ANb EQUALIZATION 2009 Assessment Walk-In APPLICATION FOR APPEAL Local Board of Appeal and Equaiization April 20, 2009, 7:OQ P.M. s Name(s) ���c �D �re�SO(1 Daytime Contact Number: 3 1G -�t;� Property Address 1 3 !t 'e 5�/l f �l/� (J 4 F'�//� 7� Property identification Number 3 3-�� �a 1-�13�0 2009 Estimated Market Value a a� s, D� What is the reason for your 2009 assessrr�ent appeal? ��me �-�Pra3� P.�u r� at�� l �DDO When did you purchase your home? Date of Purchase� ,�L�� Purchase Price ���i 00C� Have you changed your property since the purchase? (maintenance, uFgrades, remodeting or structural damage) Please list a brief description below with an estimated cost. NoN� Have you had a recent appraisal for refinancing, purchase or a market analysis by a rea[ estate agent completed within the last year? Yes or No If so, what was the determination of value? ��9,000 What is the 2009 estimated market value that you are requesting? D o Please provide any documentation supporting your claim of overvaluation or an erroneous classi�cation. In order to appeal your valuation an appointment to view the property will be required. 277-0046026 FileNO.�SSG14069 APPRAISAL OF r� LOCATED AT: 6137 Regant Avenue North Brooklyn Center. MN 55429-2351 FOR: ae�� n�onga9e 1000 Shelerd Parkway Suite 500 St. Louis Park, MN 55426 BORROWER: Lauren Toqefson AS OF: January 10. 2009 BY: Earl J. Foster 277-0046028 File No. SSC14069 siang�bellmortgage.net Bell Mort9age 1000 Shelard Parkway Suite 500 Sl Louis Park, MN 55426 File Number, ssc�aoss In_accordance with your request, I have apQraised the real ac 6131 Regant Avenue Nwth Brooklyn CeMer, MN 55429-2351 The pu�pose of this appraisai is to develop an opinion of the market value of the subject propeny, as improved. The property rights appraised are the fee simple interest in the site and improvements. In my opinion, the market value of the property as of January 10 zoos is: s�2o,o00 One HurWred Twenry Thousand Dollars The attached report contains the description, analysis and supportive data for the conclusions, finai opinion of value, descriptive photographs, limiting conditions and appropriate certifications .-�•�.Po��� Eari J. Fostar SSC Appreisals 277-0046028 Uniform Residential Appraisal Report F��eNO. ssc,4os9 Thp purpose of this summary appraisal repon is to proviAe the lentledclient wi[h an acarale, anO adequately supported, opinion of the market value of the subject property. Propertv AGdress 6131 Reqant Avenue North Citv Brooklvn Center State MN Zio Code 55429-2351 Borrower Lauren Tollefson Owner oi Puhlic Record HSBC Morteaoe Services Inc Countv Henneoin Leoal Descrioiion Lot 010 Block 001 Berasiroms Lvnside Manor 2nd Addition Assessor's Pa¢eI N 3311921430016 Tax Year 2008 R:E,�Taxes S 2.891.44 Neiahborhood Name $er��s Lvnc�de Manor 2nd Addition Man Reterence Kinos�Mao91 F1 Census Tract 0203.03 Occuoanl n6wner �I I �Tenant �I� Vacam Soecial Assessments f None �PU� HOA f N/A n oer vear noer mon[h Prouertv Riahts Aoo�ra i x I Fee Simqle n Leasehold n Other (Aesaibe� �Other Itlescribet Assianment Tvce 1 x 1 Purchase Transxtinn Refinance Transaction LentlerlClien[ Bell MOrtaaqe Address 1U00 Shelard Parkwav Suite 500. Sl. Louis Park. MN 55426 Is Ihe wbiect wooerlv currerHiv ofiered for sale or has il been otferetl lor sale in Ihe lwdve manths mia lo the efleclive tlate o( this aonraisal? nYes ��No Report daia wurce(s) usetl, offenng p�icelsj, and date(s). The subiect is currenkv listed, it was listed on 06/30/2008 For S. 164.900 and soid for $119,000 1� X] ditl U Aid nol anatyze the conlract Iw sale ior the su6jen purehase uansa�6�. Explain tl�e resNts of the analysis of the contract for ule or why Ne anatyvs was not performed Contract aooears tvoical. It has been siqned bv all oarties Conuact Price 8 119.000 Dale of Contract 12/19/2008 Is Ihe oronerN seller lhe owner ol ou6lic recor04 I� Yes n Na Data Source(5) CountV Is ihere any linancial assistance i�oan charges, sale concesvons, gifl or. tlownpaymen[ asssWnce, etcJ 10 L+e paid 6y any pany on behal( of the bamwer7 J�(]Yes No It Yes, report the tolal dollar amounl and describe the ilems lo be paid. S 5,300 Seller paid Glosin9 CostS Note: Rsce and the�racial comoosition�o( che neiqh6orhnotl are no[ aooraisal fac[ors. .c;r* ����C.t8Ci5U�6` M,.�a,.'+�'C �'����"'a�. .L'��:W"',''�y�, ,..�N1Rs.� 4 �?;1 Location JUrban I�X �Rural �PtouertvValues Incteasino ��Stable X1DecHni� PRICE AGE �One-Unit 75% BuiIPUO �Over TS% �x 125d5% Under 2596 I pema�ISuodv Shortaae X!In Balance Over SunaN SI0001 �Ivrs) 2-4 Unit� 5% GtOwlh RaDid I Jl 1 SWhIE 1 I Slow I Markelina Time Under 3 mlhs n 3�6 mths Over 6 mNs 75 Low 20 MWfi•Family 5%�� Neighborhood Boundaries The subiecYs neiqhbo�hood is boundetl an the nwth bv 175 Hiqh 60 Commerciai 5% 120 Pred 40 Other Varant 10 NeighbwhooU DescripUon is a quiet residential street. �94 a maior traffic arterv is bcated with in 1 miie and offers access ro shoppinq, schools, empbyment ceMers and freewavs leadinq to dovmtown MinneaoolislSt. PauL Procertv values are stable, demand is 000d: No aooarent averse factors noted Market ConOitirnis tiocluding wpport for the ahove co�clusions) Th�. neiqhborhood marketinp twne is 31a8 months, vihich is tvoical for the Twins-CitissMeVO area__ _.e_ Supplv and demand faclors aooear to be in balance for the orice ranqe of tha suGect Cornendonai, FHA and VA flnancina are tvoical in this area. No adiustments are necessarv for minor differences in financinn Dimensions 98 X 53 X 76 X 64 X 135 Area 120D0 Sf Shace Irteqular View Local Residential Scecific Zonino Classi�ica6on R1 B Zonina Descriaion Sinale FamiN Residantial Safetv Zor� B Zoninq ComWiance nLeual nLeaal Nonconformina fGrandfathered Use1 r �No Zonino nillenal (describel Is the highest antl best use of the subject properry as improved (m as proposed per plans antl specifications) the presenl use7 Yes No U No, describe. U[iii[ies Pub�ic OthRr (tlestti6el P Othes (describel Of4site Imwovements—Twe Public Private Elecvicitv (X� I Warer CitvService Street Asohafl �X� Gas X Sanitarv Sewer X Citv Service Allev None fEMA Soecial Flood HazaN Ares I- IYes X�NO FEMA flood Zone X FEMA Mao f 270151 0203E FEMA Mao Dale 09/02l2004 Are the uUlities antl ofl-sile imaovements Ndcal ior the market area7 �X�Yes C �NO If No, describe. �Are there aay a0verse site condiUOns �w extemal factors (easements, encroachments, ern'vonmerHal condiUOns, IarM uses, ek.)9 Yes QX No If Yes; tlexribe. No Adverse influences fe.a. easements restriaions, encum:.,a.,.,a�. �eases reservations, covenants, contracts, soecial assessmentsl an market value. Twical utilRv easements exista a of Slwies One Sforv X Full Basement Partlal Basemenl �'P �:�3� I�i� P�R=��� i�i3� ���34�e�j,`� Umts X�Ooe I One with Accessarv Unil Convete Slab �Crawl Soace FountlaUon Walls Conaete Avo Floors CameWi�vUAvq E�eria Walls MeWI/Ava Wafls Drvwall/PnUAva T e X Det. t� AlL I� 5-Det.lEnd I1nitl Basement Area 0 sa. ft. I Roo( Surface AsohaR /Ava TrimlPirrish Wood/S WAvp X Er�stina I I Pronosed .�1 Under Const Basement Finish 65 Gutters 6 Downsouuts Yes/Yes /Avo I� Batl� Floor CTilelAveraae Desian (Stvlel One Storv �Outside Envv �Sumo Pumo N(mdow Tvoe Crankout /Ava Balh Wainscot Fiberqlass/Averaae Year 8uilt 1952 I evidence of I Inlr.slatiun Storm Sashll�ulsted Yes! Ava Car Staaae None EIIecGve Aae 1Yrs140 �n Damoness Seulement Sveens Yes Ava X7privewav t o( Cars 6 Allic �None �HeatinalXIFWAI� IHWBBII IRadiantlpmenNies �WoodStovetslt �DdrewavSurfaceAsahait �Dmo Slau Stairs �Other Fuel Naturai Gas �nFiredace(sl 1 �Fence ��X�Garaae 1 utCars 2 Floa X Scu�le Coolino �CenUal Air Condifiwihw X�paGolDeck X JPach Season Caroort 3 of Cars JFinished I HeateA Jlndividual ILJW�er �POOI �Olher �nA�[. �.X�DeI ��Buill-in Aooliances �X�Re(riaeramr �X�RanpetOven �����ishwasher �Disoosal ����Mir�owave I �WashedDrver �Otherldesaibe) Finished area above ara0e contains: 6 Rooms 3 8etlrooms 1.00 eath(st 1.472 Sauare Feet of Grnss Liana Mea Above Grade AdtliGonal feawres (special energy efhcient items, etc.). 3 season porch, fireolace. and level bar in familv room. Desaibe the conAition of the property Gncluding needed repa'us, dereriwaiion, renovatians, remodelmg, em.). There is some pbvsical depreaation as suGect is bank owned and has not been occuoied for some time. The Sub�ect is in averaae condition. The subieq has averaqe functiaial utildv averaae construction. Are there any physkal deficiencies w adverse conditions that aBect the IivahiGty, wimaness. a sVUClual integnty of Ihe propeny? LJ Yes U No 11 Yes, tlescrihe. No phVSical deflcie�cies or adverse conditions were noted that affed the Iivabiliiv. sour�ness and or struclural iMeqritv of the orooertv. Does �he property generatly contorm to Ne neigh6orhood (funcumal uGidy, style, conOiGon, use, consuucGon, ek.)9 �Yes UNo If No, desttibe�. The subied is in a neiahborhood of similar homes. Prooerties varv in desiqn. but aooeal is avereae. FreAdeMacFa1m70Merch2005 PrmcMUSngI�Q=okwaa.eOOtJtOElwiwrtrxeomn Fdm@Maefo11B1001Ma�th2�05 Pa¢ 1 d 6 Imt m a6t906 SSC Appraisals 277-0046028 Uniform Residential Appraisal Report F�eNo ssc,4os9 Clarification of Intended Use and Intended Usec The lntended User of this ao�raisal reoort �is the LendedClient. The Intended Use is to evaluate the orooertv that is the subiect of this a�raisal for a mortqape finance transadion, subiecl�to the stated Scoce of Work, ouroose of the aooraisel, reoortina reauirements of this aovraisal reoort�(am. and�Definition of Market Value. No additional Intended Users are identified bv the aoo2iser. �.�c.'����,_ c .;,,u.�. Provide adeauate informatim tor the lenderfdientto redicate the�betow rost fioures and cakulatians. Support for the opinion of site value (wmmary o( comparaMe land sales or other methods lor es�imating site value) Site value based on comoatable vacant IarM sales, �and using exVadion of site values from imoroved sales in the area. Site ro value retio is lvoical for area ESTIMATED I� REPRODUCTION OR n REPLACEMENT COST NEW I qpiMlpN OF SITE VALUE S 30.000 Sarce ot wst data Marshall Swift Md Local Buildars DweWnn 1472 Sa. Ft. S S QuaGt ratin from cost service Aver fBec6ve tlate ot cost data 7_008 Hsmt: 65 Sa. Ft. Sa Ft. S 3 0 Commems on Cosl Aoorwch laross livina area cakutations.deoreciatlm, elc.l Ske value is based on mmparable vacant land sales. and usirm exVaction of GamaelCamort 440 Sa. F� S S 0 site values from imoroved sales in the area. Land to value ratio is tvoical for he Total EsGmare ot Cost-New S 0 area. Less 75 Phvsical Functlonai E:ternai BuikJina fwures obtained from cost estimatinq handbooks and bcal builders. Deaecia6on S( 01 No funGionai or extemal doreciation was noted. Phvsical deoreciatlon based DeaeciateG Cost ot Imorwements f 0 on aae/upkeeo. Cost aooroach is intended for IENDER'S use onlv �d is �'qsis' Value of Site Imorovements S NOT intended for insurance ournoses Esumated Remaimno Econamic l'rfe tHUO and VA oMr1 50 Years INDI TED VALUE BY W5T APPROACH S 30,000 r >a. EsGmated Mon�hiv Markel Rent S X Gross Rent Mukidier S Indicate0 Value bv�lncome Aooroach Summary ol Income Approach (nciuding support fa market rent and GRM) w .ar�r= �x� ����,^,�a T! Is the devdooerffiudtler in contml ot lhe Homeowners' AssoaaUOn (HOA19 I IYes�� No Unit tvce(51 I Detached �AUached� Provitle Ihe fdlowino infamation for PUDs ONLY i( the develocedbudaer�is in convd d NeNOA and the wbiect orooertr is an attad�etl dwelNno unit Leoai name ol oroiecl Tatal number o( ohases ToUI number of units Total m+m6er of unils 5old Total number d unils rented Totai number of uniLS lor sak Oata sauce(sl Was the� oruiect created bv Ihe conversion of an exis6no buildino into a PUD"7 Yes No q Yes, date of comersioa i Does the oroiect contain anv mNti-dweUino unils? �Yes �I )No Dala saurce�s) Are the units, common elements, an0 reueauon factlities complele9 Yes U No II No. Oescrihe Ure stams ot comp�euon. Are [he common elemen[s leased to ar. by Ne Homeoxmers' AssociaUOn7 Yes No If Yes, deuriDe Ne rentai terms an0 opGons. �e5ctibe common�elemCnts 3nd�recreaUOna1 tacilitiei FieOAe A1at Fdm 70MaiN 20(IS RoaucN�um�q uG �dmae. Ym il� nn ww�r xoeo.cao Farrie Mae Fam 10U1 MaN 2U15 Page 3 d; IOD+ a5o62906 SSC ApPralsals 277-OD46028 Uniform Residentiai Appraisal Report F�eNO. ssc,4oss This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; inciuding a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. This appraisal repoR is subject to the foi{owing scope of work, intended use; intended user; definition of market value, statement of assumptions and limiting conditions, and certifications. Mod�cations, additions, or deletions to the intended use; intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the compiexiry of this appraisa! assignment. Modifications or deietions to the certifications are also not permitted. However, additionai ce�fifications that da not constitute material alteratiorts to this appraisal report, such as-those required by law or those related to the appraiser's continuing education ar membership i� an- appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisai assignment and the reNorting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1} perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the sVeet, (4) research, veriry, and analyze data ftom teliabie public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appreisal report. INTENDED USE The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MARKET VALUE: The most probable price which a propsrty should bring in a competitive and open market under ail conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummaUon of a sale as of a specified date and the passing of title from sellef to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the p�ice represents the normal consideration for the property sold unaffected by special occreative a 5nancing or sales concessions' granied by anyone associeted with the sale_ 'Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those msts which are normally paid by sellers as a resuit of Vadition or law in a market area; these costs are readily identifiable si�ce the seller pays these costs in virtually aii sales transactions. Special or creative financing adjustments can be made to the comparabie property by comparisons to financing terms offered by a third pariy institutional lender that is not aiready involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment STATEMENT OP ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: L The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the UUe to it, exceptfor information that he or she became aware of during the research involved in performing this appraisal. The ap�raiser assumes that the title is good a�d marketable and wiil not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisai report to show the approximate dimensions of the improvements. The sketch is induded only to assist the reader in visualizing the properly and understanding the appraiser's determination of its size. 3. The appraiserhas examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether a�y portion of the subject stte is located in an identified Special Flood Hazard Area. Because the appraiser is not a sunreyor, he or she makes no guarantees, express or implied, regarding this determinaGon. 4. The appraiserwill not give testimony or appear in court because he or she made an appraisal of the properry in question, unless speciBc arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiseP has noted in this appraisal �eport any adverse condidons (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless othenvise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical defiCiencies or adverse conditions of the properly (such as, but not limited to, needed repairs, deteriora6on, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or impfied. The appraiser wiil not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the fietd of environmental hazards, this appraisai report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conciusion for an appraisal that is subject to satisfactory completion, repairs, or alteratlons on the assumption that the compleYion, repairs, or alterations of the subject property will be performed in a professional manner. �eaae mac ram �o n+ara+mos nmYe.e ma �u .e�•�e www..aw.n.mm tane n�ae wm aoa os oazsos SSC NPPraisals 277-0046028 Uniform Residential Appraisal Report F��NO. ssc,4oss APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees thaY. t 1 have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this aPPraisal report. 2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. T identlfied and reported the physical deficiencies that could affect the livability, soundness, or structural integriiy of the property. 3. i performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice t�i�t were ado `ed a�d p� piomulgated by ihe"Apprais�T Standartls Boartl of The AppraisaF foundation and that were in piace at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on tNe sales comparison approach to value. I have adequate comparabie market data to devebp a reliable sales comparison approach for this appraisal assignment. I further certiTy ihat 1 considered the cost and income approaches to value but did not develop them, unless othervvise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject properry in the twefve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. I researched, verified, analyzed, and reported on the prior sales of the compareble sales foc a minimum of one year prior to the date qf sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used compareble sales that are locationally, physically, and functionally the most similar to the subject property. 8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the markeYs reaction to the differences between the subject: property and She comparable sales. 10. I verified, from a disinterested source, ail information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 1 L 1 have knowledge and experience in appraising this type of properly in this market area 12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as muitiple listing services, tax assessment records, public land recoMs and olher such data sources fo� the area in which the property is located. 13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into cansideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the deveiopment of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of duriog the research invofved in performing this appraisal. I have considered these adverse conditions in my analysis of the properry value, and have reported on the effect of the conditions on the value and marketability of the subject P�oPertY• 15: J have hot knowing�y withheld a�y sign�cant information from this appraisaf report a�d, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject onry to the assumpUons and limiting conditions in this appraisal report. 17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. i did not base, either partialiy or completely, my analysis andlor opinion of market value in this appraisal report on the race, color, religion, sex, age, marftal status, handicap, familial status, or national origin of either the prospective ovmers or ocaapants of the subject property or of the present owners or occupants oFthe properties in the vicinity of the subject propeRy or on arry other basis prohibited by iaw. 18. My empioyment and/or compensation for performing this appraisal or any future or anticipated appraisais was not conditioned on any agreement or understanding, written or othervvise, that I would report (or present analysis supporting) a predetermioed specific value, a predetermined minimum value, a range or diredion in vaiue, a value thaY favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approvaFof a pending mortgage loan application). 19. I personally prepared ail conclusions and opinions about the real estate that were set forth in this appraisal report. If 1 relied on significant real property app�aisal assistance from any individual or individuals in the performance of this appraisal or the preparetion of this appraisal report, I have named such individuat s and disclosed the s ecific tasks erformed in this a rersa! P P PP report. I certify that any individuai so named is qualified to pertorm the tasks. I have not authorized anyone 3o make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I wili take no responsibility for iC 20. I identified the lentlerlclient in this appraisai report who is the individual, organization, or agent for the organization Yhat ordered and wiil receive this eppraisal report. rreaae n�ac r ro ewm zaos r,oe�w �o �a,eie,,.n eaos�..ern.,ww.,awee<om Fame rnae ram iaw zms' Pa¢�Sd6 tow o5082906 ssc �+aw�sai5 z��-0oasoze Uniform Residential Appraisal Report F�eNo: ssc,4oss 21. The lender/ciient may disclose or distribute this appraisal report to: the borrower, another lender at the �equest of the borcower, the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professio�al appraisal organizations; any department, agency, orinstrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if appiicable} consent. Sucti consent musl be obtained before this appraisal report may be disclosed or distributed to any other party (including,but not limited to, the public through advertising, public relations, news, sales, or other media}. 22. I am aware fhat any disclosure or distributio� of this appraisal report by me or the lendedclient may be subject to certain iaws -.and regulations. Further I am-also subjecl-to the provisions�[ the Unifoem-Standards of Professionai Appraisal-Rraetice-Fhat pertain to disclosure or distribution by me. 23. The borrover, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, govemment sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance kransaction that involves any one or more of these parties. 24. If this appraisal report was transmitted as an "electronic record' containing my °electronic signature," as those terms are defi�ed in applicable federal andlor state laws (excluding audio and video recordings}, or a facsimiie transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shali be as effective, enforceabie and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may resutt in civil liability and/or criminal penalties i�cluding, but not limited to, Fne or imprisonment or both under the provisions of Title 16, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: t i directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisat report inGuding, but not limited to, the appraiser's analysis, apinions, statements, conclusions, and-the appraiser's certificaHon. f 3. The appraiser identified in this appraisal report is eithe� a sub-contractor or an empioyee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Unitorm Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundatioq and that were in place at the time this appraisal report was prepared. 5. !f this appraisal report was transmitted as an "electronic rewrd" containing my "electronic signature," as those terms are defined in applicable federai and/or state laws (exduding audio and video recocdings), or a facsimi�e transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effecGve, enforceable and valid as if a paper version of this appraisal report were detivered containing my original hand written signature. APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED� Signature �1"IJ,X/Y/ Signature Name Eari J. Foster Name Company Name SSC aaoraisais �LC Company Name Company Address tsz3o tvw Evans Street Company Address Eqc River. MinnesoW. 55330 Tetephone Number Ts3-2a�-seaD Te�ephorte Number Email Address eari�osterCd�msn.com Email Address Date of Signature and Report ov�sl2oos Date of Signature Effective Date of Appraisal ov�azoos State Certificadon State Certification Ce�tired Generai Procertv Ma or State License or State License aoo276G State or Other (describe) State ExpiraUon Date of CertificaUon or License State nnti Expiration Date of Certification or License oer3v2o�o ADDRESS OF PROPERTY APPRAISED SUBJECT PROPERTY si 3i Reaanc Avenue North Did not inspect subject property Brooklm Cenix, MN 55a29-235� Did inspect exterior of subject property ftom street Date of inspection APPRAISED VAI.UE OF SUBJECT PROPERIY t2o.000 Did inspect interior and exterior of subject property Date of Inspection LENDERlCLIENT Name siannCdibellmortoaae.net COMPARABLE SAIES Company Name Ben nnartqaoe Did not inspect exterior of comparable sales from sVeet Company Address t000 shelard Padcwav suae 500 Did inspect exterior of comparable sales from street St �ouis Park. MN 55a26 Date of Inspection Email Address ���eoae n�ac rwm �a e�mcn zoos Pmawa wnro na w Pw.�e rarr.e Mae ram a�a as oszens SSC A ra�sals LLC P P DIMENSION L1ST ADDENDUM Borrower. tauren ronerson File No.: ssciaoss Prooertv Address: s� s� Reaant aven�e Nortn Case No.: 2n-ooasoze Citv: arook�vn centet State: nnN Zi�: ssa2s-2a51 Lender: aen nnortoace GROSS BUILOING AREA (GBA) a:a�2 GROSS LIVING AREA (GLA) i.a�z Area(s) Area I %ofGLA %ofGBA Living 1.472 100.00 Level t 1.472 100.00 100.00 Leve(2 0 0.00 0.00 Levei 3 0 0 00 0.00 _r Other 0 0.00 0.00 GBA Bacement 0 Garage 440 D Area Measurements Area Type Measurements Factor To[al Level7 Level2 Level3 O[her Bsm[. Garage aa oo X 2a oo X�.00 ass_oo �x p p Q p 26_OD g� 16.00 x� 1.0 416.00 OX 22 00 g 20_(N.7 x 1.00 z 440.00 Q oX X O O O O O D x x-= O O O O O O z X-= O O O O D O X X_= O O O D O O X X_= O O D D p O X x_= O O D O O p C O p ,p x z 0 x x Q x x x x x X-_ O O O O O D x x__ p O O D D O x X_= D O O O O O x X-= O O O D D D x x O O D D D O X x o 0 0 0 0 0 x x_= O O D O D D x x-= D D O O O O X X—= o a o 0 0 0 X x-= O D 0 D O x x-- O O O D D O x x-= D O O O O O x x O O O O O O X X O O O O O O X X D O D O O X O O D O O O x X__ p D p p O p X O O D D O O x x O O D O O O x X D D O O D O x X-= O D D D O.O z O O D O O O z x O O O O O O X x-= O O O D O O O D O O O O X D O O D O O z x-= O D O O x p p D p p p x x-= D D p D O O X x_- O O O D O O x X-= O O O O D D x X-= p O p D p p x x-- D D p p D p X x-> O O O O O O X x-= O O O O D X X_= O O O O O O X x-= O O O O O D x O O O D D X X—= o 0 0 0 0 0 ��,�,�..,�t,,,,z,�,Y.��� SUBJECT PROPERTY PHOTO ADDENDUM Borrower. �a�re� ronerson FileNo.: ssctaos9 P�OpBf[VAdd[255: 6t 31 Reaant Avenue Nortn C852 NO.: 277-0046028 Ci[Y: Brooklvn Center $t2t0: MN ZID: 55429-2351 L@f1d2C Betl Mortgage FRONT VIEW OF SUBJECT PROPERTY AP��815Bd D8[E: January 70. 2009 Appraised Vafue: S �zo,000 �.�;���h� iVii9 ,fi, y ."t: i� �t =X s'n �.'q xt"�+ gn ���y� e 42j� ^Yt.. I F REAR VlEW OF r r rr�� SUBJECTPROPEI�TY a� k 1 STREET SCENE COMPARABLE PROPERTY PHOTO ADDENDUM 80ftOw0C Lauren Toliefson� fll8 NO.: SSC14069 Propertv Address: si si ReQanc.o�en�e Nortn Case No.: v�-ooaso2s CIiV: Brooklvn Center $t8I2: MN ZID: 55429-2351 Lender: sen Mongaoe 9Y ..".r� v a t4�rt4 r.� Ij COMPARAB�E SALE #1 x t ^s 5604 Perry Avenue North r. x Crystal Sale Da[e�l2rdr2oo6_ .:R.__. Sale Price: �zo,000 C(7MPAFtABLE SAt€#2 6331 Noble Avenue Brooklyn Park Sale Date: �z��azooa Sale Price: S �o3,eoo COMPARABLE SALE #3 5841 RegentAvenue North Crystal Sale Date: ionrzooa Sale Price: S �so,000 A �F.� a COMPARABLE PROPERTY PHOTO AODENDUM BOROwEF. Lauren Tollefson Fi12 NO.: SSC14069 PtOp2ftY Addf255: 6131 Reaant Avenue North C852 NO.: 277-0046028 CtN: Brodciyn Center $[2tE: MN Z�O: 55429-2351 �2I1d2C Be1f Mortgage COMPARABLE SALE #4 5206 WmchesterLane BrooMYn Park �y� $��@.Q8[2:.t1Y2412008 Sale Price: S ii�.000 7:� COTJtPtiRR$LE 5At€�k�'s 4206 62nd Avenue North Br�k�yn Park Sale Date: �a�a2ooa Sale Ptice: S i2s,000 y COMPARABLE SALE #6 4006 Janet Lane BrooWyn Park SaleDate: tvt7r2oos Sale Price: S ��s,000 M BOffOW2C Lauren Tolietson FIIB NO.: SSC14069 PfOD2rtV AddfBSS:613t ReoantAvenue North C258 N0.:277-0046028 CJ[4: Brooklvn Center St2[B: MN ZID: 55429-2351 L@Rd@C BeN Mort9aae ���i �i z, i S 3 �6 x t t. Y. 1 i a�fl x p 5 .1 �F: I I I I �II e k: »il, �p �'ui� .Y'M`+YG.�� .e..A�. j� V 4.���. k b w L PSry �'�g.�' X �S`:' .Ei 1 t� q� t Borrower. �auren rouesso� File No.: ssciaoss PfODErtV Addf2S5: 6131 Reqant Avenue North C85B NO.: 277-0046028 ��IIV: Brooklvn Center $i8i@: MN ZIO: 55429-2351 Lender: eeunnonqa9e x��� a" 4. _t_. A y... .r• s y� I t III��I II u y ��`1 I I'�� ,V:i i I�� Borrower. �auren ron�rson File No.: ssC�aoss PfO�@fIV�AdCI(C55:6131 ReoantAvenueNorth C25B N0.:277-0046028 CICV: Brooklvn Center $I2C@: MN ZID: 55429-2351 �@(1dBf: Bell Mortgage �e E�� i .::�.y x m y �d�, F i r �3Y.�,Y�.�:e ��w: J. '�...�M. e �4y 4 v�� yhyf' _�w s `F.3"� 3� y i2 ���'�MF ^i.. i'r r ,r�- s,a, "5 ea m, P -�J. y `�.i x y� y. FLOORPLAN BOCfOw@C Lauren Tollefson File NO.: SSC14069 P(OpBrtY AddlBSS: 6131 Reqant Averwe North C25B NQ.: 277-0046028 GN: Brooklvn Center $t2[e: MN Zip: 55429-2351 Lender: sen Mortaaae aa.o� 22.m Bedroom Betlroom Living Room o N Garage N v N �I(iif� KRehen eea�oom eatn o �22.0' Farriy 3-Season Porch 26.0' �4h�v^' C.. ,.....15: f1REA CALCULATIONS SUMMARY LIVING lCREA 8f2EAlfQOWN Cqde •Desod aon P „a� a. .-,xr>�, $feekdOwn "$ubtotals�� GLA1 Firat Floor 1d72.00 1C72.00 First Floot GAR Garage 040.00 ��0.00 2a.0 �x 44.0 3056.00 �16.0 x 26.0 C16.00 TOTAL LIVABLE (rounded} 1472 2 Calcuiations Total (rou�ded) 1472 PLAT MAP Borrower. �auren Tonetson File No.: ssciaoss Pro�ertv Address: sisi tteoanc,a�en�e Nortn Case No.: z��-oo4so2e CIN: Brooklvn Center $ta[B: MN ZID: 55429-2351 �Lend2C Beil Mortqaae� t i i �._#�i x �1� 1�� S1�� �r k 4� 4 rv r ��t�}�� z i MIR�� 61 �f� 613� '6� �rsr r 3 z '�j: 6� i 3� r s 2 h q za 3- a s� x ..za'� z a at <n a 9� P x.� p �a .a ^aY�`�a c d� r 3 'y�'�� z'� �z fi' j� j av 4 XL 3E6 ..M�I R �'z�° F1 S y-ji J 3 ��F ��Y�, ,1 �Y� 1!^I� YL ii� '�7 b ^u� j.' 'Y„ '3 k Y ,t 5 .%Y '.z' z Y�a a fi e� X 4 Y "3 r'� A ��a $�'z� 'ci �i� S: ,r,Y ��y 3: �,x€'�.�. �''y s. ws k y,�A a e�' S i t S a d a z �°r r�w�zh �"Fx, �r C" 'u.�' �s s f 3 x r T c F a� 7:'�" ��^s r v y 1 .rA� Y c x 5 C ��.d' a �w k� "�i�2� g�p a pS ��s�z� Y ��5� y •y �4: .5 s r x s '��"��5�� G 7i„�. c a� "ti:: �Y. e h� 3' �T" ,y ���T� ��a �,,.'n v 4 Y a i a �y 'a 4 m c a §t" �+-1 f s. F k -3C.�� x g n+s. 4 �'v Y' .3 Y �'6i2S�`���:� a r t .es� s� r ��12� ���11� ,c. 4x� �1 l��! t'+�' t �i yI `37 m.._ F Z J� 3 4 .t a .z..,.., �.�;Y..,, ,•3.�. h,., w LOCATION MAP Borrower. �auren rouetson Fife No.: ssCiaoss ProDertv Address: s� a� Reaar,t a�enue Nortn Case No.: 2n-0oasoza CItV: Brooklvn Center $t2[2: MN Z17 55429-2351 L8nd2C Bell Mortaaae f tra» tw v �an:gm�£es�a# t �srooic�yn-�+a,� �s� ..r. t.:� i �!_i.. ,�:W;.� i F r i s.�s i t+� '�#i �oa�a.� ��,�1 `''''�'t i� f,. �r i t'� �a GdAP 6 ConP 3 Y j. 4 6331: 8oble ltenue 42U6 B2ad tieeue }brt6 r r°�-.`�"�`'� Brookl�a Part, 191 �429 BrooklYa ParY, NH 65429 i r�. z ��I ,_i� coam z 1 5206 Wincheater Lene E sz q BrooklYr Park. MH 534Z9 a ti 1 C�9P ,g d 3-° �K{ t x r�` 4 ;:Jane Rark 8 �42 B r�k1Yn 4I 9 Snb3 ect I 1 ,.n 613L B�1ast. lvenue North Bi�ooklYa Ceater NN 53428� t �9, X �'�r",.�a�„ `y' x r ��=i 6�� "'�w.'�"�>-�` g ComP 1 i� a a� 5841 Reseet Arexue Hor�h F Ctystal, MN 559�9 ,a� ComP 4 l w a� �c:��, 4 8604 Eerr�! ,ireaue North CeYStal MB a''9d29 y 3� .-r•. t--s-i, ��,.y� X,�� j .9 r w �i ,5;, °g "Y_..�"�" �L.'_.�t ��1�, �`K. L �.t� �'E F�:S'�R mi Geavxw3J�ct.idF:ca�e. 264R OtLoma..51 Ce. stlR# USf+S 2llE5� �e. 0 ii t warw.:mkr!ne.eom .I4I4��C1.0`f} Osta2oo+�i2-0�. I I BOffOWCC Lauren Tollefson �FI�B NO.: SSC14069� Pi0p2rtV Addf2SS:6131 ReaantAvenue North C3S2 N0.:277-004&028 CIN: BrookNn Center $I2[6: MN ZIO: 55429-2351 Lender. een nnon�ae �a�`� .m� &�"i: ��r�TM+' 4 �{y t t�. '5; S 6 p�' "�,y 4 ��`°L �."G� y i' ��aSE �'i.;TS� 5 s w a kr g ,r�. i: i a 1 i ..,�.3, ,.,i�f �i��y a a F q �..z� ,r rt' x .izf -�s�'. +.as.� 8s9 1 F i i i z .�i �R ,i�° .°�p:. i:. K ,i' r i x Y e. -0 �w kR1���W���� y ti Borrower.�au�enTouetson FileNo.: ssciaoss PfOD2rtV Add�055: 6131 Reaant Avenue North C852 NO.: 277-0046028 CIN: Brodchm Center $tBIB: MN ZID: 55429-2351 LBfld2f. Bell Mortaaae G J Y Fek �e �'o,� �'9� m r a ti 70tlf.'. u' a,._ n 2 c 1 S 3 i iO A 3 y Ln BsihAVeN_._�..._�..�o z i r a 6 I i ry 130 t; m i &T f t �qi,�� g� i r N 6T� AV� �d x 5 .�rGmte� E igby �p� 'o� ---i 1 Ln i� ncn emer u� �..W 'ts p yq�y�q�,` I P IOr i �°A, s T I aG 2+ �y M `t�'' m s 1l2AveN y �oy m idPl Zh a�e mm �'Ub�86, 3 .w J i i t:'t Ava N Jah Ln ..,r^' ComTOdote Of �.xR N R esn avo k z m �5812i4xeN �j t s&I+ Ati+a F ,q CryatailurpartRG X y �s4 erda� Ave g 8utyueet �.na �r' z x.� e t z a �tiuoaG�A�e r a m_ �r z� o. T.' J tnirnv�sn z s� o �h K nr W L� win �ko 54th A�Y e i-� �Qt.t f WFsi ItBA_'m �;p� 1 1 RYeN ��',y 1 �y 5� -.�u �`r s �In� R s. P r�� FlosadM� Legend Fiaatf intorma.non FbOtl ZIN7+L�5 Gomrtur+rt}•: 27�:�7 -�R�ii:rtCLYM CENTER CIT" 3F Property U not ir, a F�A sp=_cial i3a�r_' �rea. 1ltist Y[�1QC11� dy.'.{OQ�y�lf 1�OD1�� 1�7� F�4R.�SK i{ 5 F S LZ.e�'J7� T�3ip �..ili: v��'w �i JA �ERe�: tY11�J�E FIPS: G}.�DS ww ae� �r m. oa �a aaa�r.,� �en+.ra zn,,.: x n.+u+n,rwary sooynnuneoe� rnaa wnarw ng �oo-y�sc neoainp wro� w�oey a�mra PNOaniy an�s Iveies�r T:arNaarRetica Fi�r: F4a:rC Certiiir�tiun tTFk�? t?e! RC! mz� �r.Y �epre�rstaEor.s m.rar�ntiz, ro: �Y D�Y �r.cErr,ir� ite �b[[2rt acc�rtcy a F1ooWrM on�s xMh+tiloa�Pj haestd a�rr=paier�a cf tt:� ':ba: 2aMt. ir:slu.m,c ar.'t !FrcarsU ai marctsFt�tilaY cr Artas WwidN�tmit»tl b+il possbM Ibod Mrards fitr.tss pact�ecLr purxisz. Nr[t�er TFtfC rz�r AG: ror �he s�ier �e �is !M.wct reoun �isall havear-.y 3aGility ta �.y� tha •r.� C�cY �r �ny �s_ ar rr,eszsx oi N4as nat m�Dp�d 8n tny�isFS�Q FIR�,1 tf+.� 'fa.: re�»: t. y i Review Of 6131 Regent Ave N PID#33 119 21 43 0016 For Lauren Tollefson 2009 Board of Appeal and Equalization �z ,a: y q �q� �y�n�,�'' i/� u i' .��T m l x �..,a,"3 p�� i ;a; r ,.�t i I�'G .:4 k y �.r h A5 YC �5� S F 9.3�e i a,\ �E ✓y A l -�''V2 �u a�a���. (+R«s �a' MNY. a �,iY......i ..:u.u�sr .�r„x,, K i t City of Brooklyn Center A Millennium Community TO: 2009 Brooklyn Center Local Board of Appeal and Equaiization RE: Lauren Tollefson 6131 Regent Ave N Brooklyn Center, MN 55429 Ms. Tollefson appeared as a walk-in at the 2009 Board of Appeal and Equalization on Apri120�', 2009 to appeal the 2009 estimated market value of $193,400 for taYes payable in 2010. Ms. Tollefson had recently purchased her home at 6131 Regent from HSBC mortgage servicing for $119,000. The board directed Ms. Tollefson to make an appointment with an appraiser from the Assessor's office to review interior characteristics on her property. Ms. Tollefson presented a copy of an appraisal that was used by herlender to obtain financing to purchase her home at 6131 Regent Ave N from HSBC mortgage servicing. This appraisal provided six comparable properties, however, all were lender mediated sales and not representative of open market transactions. An appraiser from the Assessor's office reviewed Ms. Tollefson's property on Apri121 st, 2009. Several changes in characteristics were noted, as this property had been assumed from the last assessment cycle. Once all characteristics are updated on this home, the new 2009 estimate of market value is $175,800. Tke enclosed sales comparable grid compares Ms. Tollefson's home to open market rambler properties that sold within the state study period. In reviewing these sales of comparable properties, Ms. Tollefson's adjusted 2009 estimated market value of $175,800 falls within the indicated range of adjusted sales. The enclosed grid indicates a value range for the subject property of $175,300 to $192,400. It is staff's recommendation to reduce the 2009 estimated market value of $193;400 to $175,800 for taxes payable in 2010. Respectfully, t� Nancy Wo�cik, SAMA City Assessor 6301 Shingle Creek Parkway Recreation and Community Center Phone TDD 1Vumber Brooklyn Center, MN 55430-2199 (763) 569-3400 City Hall TDD Number (763) 569-3300 FAX (763) 569-3434 FAX (763) 569-3494 www. cityo fbrooklyncenter. org SUBJECT PROPERTY 6131 Regent Ave N Lauren Tollefson PID# 33 119 21 43 0016 #C -ns" z" r S� w S L� r,J, a �I�� t F�' �1 ��t,�ti f -f .���9,� w`�� �1. r y �d�� �,4�{ 'u 1 t t 4: f L 4 Y 4 �T"�'� Y wk� F 4 p �����t� 4; x' �a=� r. f+�{+� .t >�.r s '1F,�. lt l —r A r: L x' �'4x i 4 t .w.. +i �n'...�'dS �..�trr� Land Characteristics Land Area 10,817 sq. ft. 2009 Land Value 58,900 2009 Building Value 134,500 TOTAL 2009 EMV $193,400 as submitted Building Characteristics Style: Rambler 1,472 sq. ft. Main Level Room Count: 7/ 3/ 1 Full Bath Below Grade Room Count: 2/ 0/ Stool Garage: 2 Car Detached Fireplace: 1 Porches/Decks/Misc. Porch with 4 skylights Central Air Conditioning: CAC 'Hennepin County Property Map Print Page 1 of 1 Hennepin County Property Map Tax Year: 2009 The data tontained on this page is derived from a compilation of records and maps and may con[ain discrepancies that can only be disclosed by an accurate survey performed by a licensed land surveyor. The perimeter and area (square footage and acres) are approximates and may contain discrepancies. The information on this pa9e should be used for reference purposes only. j? Hennepin County does not guaran[ee [he accuraty of material herein contained and is not responsible for any misuse or misrepresentation of this information or its derivatives E t;fi; r'� 4:, „i ...a Li� i� i ��3�.v�� ���III�II� �A��� ���J 1•�i i z m �W 3 13 Cl m� r"' ,,t, �130 6�31 a i 1 C'�* i' i �`.F uJ F ry V G f 6 r a L� :r f ,n fe bY, 3 t .r�,�r �r z. �fi' "�1:� y t V 3 2 I 11 �l 11�'� f� Selected Parcel Data Date Printed: 4/22/2009 4:21:35 PM Parcel ID: 33-119-21-43-0016 Current Parcel Date: 4/3/2009 Owner Name: LAUREN TOILEFSON Parcel Address: 6131 REGENT AVE N, BROOKLYN CENTER MN 55429 Property Type: RESIDENTIAL Sale Price: $119,000.00 I' Homestead: HOMESTEAD Sale Date: 01/2009 Area (sqft): 10817 Sale Code: Area (aCres): 0.25 A-T-B: TORRENS Market Total: $197,100.00 Tax Total: $3,051.36 http://gis.co.hennepin.mn.us/HCPropertyMap/Locator.aspx?PID=3311921430016 4/22/2009 City of Brookiyn Center PID: 33-119-21-43-0016 Property Type: R- Residential Value Info: Residential Field Card Property Address: 6131 Regent Ave N Zoning: R1 YearNersion: 2009 1 Printed: 4/23/2009 lot Block: 010 001 Dwelling Type: Single Family Land: 58,900 Assessment Year: 2009 Addition: Bergstrom's Lynside Manor 2nd Addition Owner(s): Lauren Tollefson Bidg: 134,500 Version: 1 District: Total: 193,400 Neighborhood: 0053 x.:,,,�, a���,��� .;u �e:�� .�`R,� y� ��r S'�i ��Q �C� '�/��i� '�Y'C����Ek�` i c .��i kf"�.� kT, ,I.. ."-'_'`...,.��.a� e.n, ,,,i :::\v.� ,�„c :>fr... ,,..>�.b,. .e,a a ModeL Garage#1 Area (SqFt): �1,056 Kitchen Rtg: Very Good Interior. Interior: Res. Cond: Average Placement: Detached 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: Carpet Avg. Clear. Height: Avg. Clear. Height: Adjacent Property: Equal Condition: Average of Fireplaces: Avg. Clear. Height: of Fireplaces: of Fireplaces: Manual Assess: N E�erior Walls: Metal Fplc. Quality: of Fireplaces: 1 Fpic. Quality: Fplc. Quality: View: Equal Avg. Clear. Height: Fpic. Quality: Average Actual Age: 1958 Elec. Sva Standard ArchJAppeal: Average a Htg: Forced air, gas fired Effective Age: 1980 Walkout: Quality: B05 Placement: Walkout Quality: 'lst �a����(#fK��i���r) j �nd �idtt�s (#fQra8l�ty:) 3rd ��ths �#IQu�lrf�+j Renovated Age: of Cars: Spa: Spa: Spa: Shape: L-Shaped Floor Area: Dlx: Dlx: Dix: Functional Condition: Full: 1/ Very Good Full: Full: Style: One Level/Rambler Exterior Walls: 3/4: 3/4: 3/4: Economic 1/2: 1/2: J 1/2: E3asemen� �ia,�is (#IQu�� Construction: Wood Frame p��� Y i� �r g����(��� q�,�� Exterior Wails: Metal Glazed Area: 288 ppa� 1�t F�p�,m �ut� ���t�m �GUrtt� 3rd t�oortt Gat�nt r� Unfin. 1 st GBA: Quality: Average Full: Bedrooms: 3 Bedrooms: Bedrooms: Unfin. 2nd GBA: Exterior Trim: Screened Area: Unfin. 3rd GBA: 3/4: Baths: 1 Baths: Baths: Quality: Unfin. Total GBA: 1/2: Family: 1 Other: Other. Roof Type: Hip �pen Area: Living: 1 Total Rooms: Total Rooms: Quality: Dining: 1 1 st Fioor Area: 1,472 Roof Cover: Shingles 2nd Floor Area: Kitchen: 1 3rd Floor Area: Bedrooms: Other: Quat �Ave a e Ktchen: Total Rooms: 7 r Total GBA: 1,472 Window Type 1: Gliders patio t Area: 260 Famil 1 I, Window Type 2: y 9 Patio 2 Area: Other: 1 Value: 4,000 Air Gonditioning: Central Quality: Total Rooms: 2 Desc: See comments `�t6tF1� ��C11$ i I Dormer Len th: Deck� 1 ea: ��s,� Famil oms. 2 g Y I �I Dormer Quality. Date. 01/05/2009 Appraiser ID. 21 Appraiser IQ Quality: Living: 1 Price: $119,000 Appraisal Date: 04/21/2009 Patio Doors: 2 Deck 2 Area: Dining: 1 Quality: Code: 21 Reason: Board of Review Appraisal Date: Kitchen: 1 Desc: Bank Sale Result: Interior Other: 1 Last Interior Inspection: 04/21/2009 Reason: TotaL• 9 Povl, ,;rt Pool 1 Area: Result: Quality: Left Ta Yes No Ar 9 Pool2 ea t��; 3 y QUB�Ity: �AR1111@71�S .v ��5� s ���a'm ,r aw..� WRAPPED ORIG WINDOWS, GOOD COND. NEWER WINDS ON ADDN. MFSF. GOOD EXT COND. PORCH W/4 SKYLIGHTS. KITCHEN �i� W/REFiN ORtG CABS, CT �LR, OPEN TO DR W/HWF ADDN. SUNKEN FR ADDN W/PERGO FLR BEAMED CEIL. ALL ORIG CT IN MAIN BATH. BSMT FIN SPRAYED CEIL, REC LIGHTS, TONGUE IN GROOVE. 3 FULL SZ GLOR WINDS IN BSMT=FUIL DAYLIGHT. CUSTOM WET BAR IN BSMT. STOOL IN BSMT+3 DAYLIGHT WINDOWS+4 SKYLiGHTS ON PORCH=F. SIDING 3/04. 05 REVIEW NO SHOW. 06REROOF. 09 VALUE APPEAL City of Brooklyn Center PID: 33-119-21-43-0016 Property Type: R- Residential Value Info: Residentiai Field Card Property Address: 6131 Regent Ave N Zoning: R1 YearNersion: 2009 1 Printed: 4/23/2009 !oi Block: 010 001 Dwelling Type: Single Family Land: 58,900 Assessment Year: 2009 Addition: Bergstrom's Lynside Manor 2nd Addition Owner(s): Lauren Tollefson Bldg: 134,500 Version: 1 District: Total: 193,400 V Neighborhood: 0053 .v.r r ::..�y. u _c: F�x� E `��S`k �p;�. a,..,,: R7"�j' �'a 3��d\�� ....,�j <�i�' ����,�w °���'w� f.?������E� �.�j r... _.....:3' T«, r .<3.-..�'� Land Type: Standard Lot Frontage: 98 Park: Curbs L.�ngkh Witlxh �'q Ft Land Quality: B05-Land Left Side: Park Quality: Gas 44 24 1056 Area Rating: Very Good Rear Side: On Lake: Irregular Shape 26 16 416 Site Rating: Good Right Side: Lake Quality: Paved Street 0 0 0 Zoning: R1 Effective Width: 81 On River: Sewer Available 0 0 0 Contamination: Effective Depth: 132 River Quality: Water Available 0 0 0 Flood Plain Map Ref: Effective Water: Landscape Quality: Average 0 0 0 PUD Ref: Property Area (SqFt): 10,817 0 0 0 Allowable Units: Acreage: Not Buildable: N Excess Land (SqFt): Adjacent Owner: N Usable SqFt: Flood Plain: N Flat Desc: Zoning Variance: N Flat Amount: Manual Land: N I I N Basemeot' n 1056 sf 2g' 18' 20� 18' ',°C' Porch °Q 268 sf 18� 18' F ati� i� Eirst Floar N �440 36$ sf 1472 sf y V ry Skeich by Ap�e% t�d'ma'+M Report Name: SalesInformation Clty Of BI'OO�yIl CeI1teP Printed: 4/27/2009 Page: 1 Sales Information Report 33-119-21-43-0016 6131 Regent Ave N �Sale Da�g �,le Price C'ash +T�puiv Sale'�,g Sale Ratio Comments �g Qy, Qy� er O1/OS/2009 $119,000 $0 04 Limited Warranry Deed 21- Bank Sate 2009 1 0 0 10/O1/1993 $88,580 $0 11- Other 00 Good Sale 2005 1 0 0 12/O1/1983 $78,900 $0 11- Other 99 Conversion-X Sales FAMILY SALE 2045 1 0 0 04/O1/1977 $51,000 $0 11- Other 00 Good Sale FROM MLS 2005 I 0 0 I I I I I I i i Report Name: Permit List Clty Of BrOO�IyIl CCIlteP Printed: 4/23/2009 Page: 1 Permit List Permit List for: 6131 REGENT AVE N Permit nit Permit Tv„�e ub-T e yVork Tv�g Descriution Cancel Datg issued Date Final Date, Value BCO304�9 Building Residential Singie Famiiy Replace TEAR OFF AND REROOF OS/23/2006 08/07/2006 $9,040 BCO24029 Building Residential Single Family Replace SIDING 03/15/2004 06/02/2004 $14,537 BCO20803 Building Residential Single Family Addition 16 X 18 SUNROOM 10/16/2002 12/19/2002 $22,508 BC016272 Mechanical Air Conditioning Replace ,vC 07/25/2000 OS/04/2001 $2,200 BC008206 Building Residentiat Single Family� Addition DECK 07I14/1997 0�/30/1997 $14,409 Permit Count: 5 i I I i Report Name: Assessor Inquiry Clty Of BPOOI�yil CeI1tCP Printed: 4/27/2009 Page: 1 Assessor Inquiry Disnlav PID House Nhr Street Name Ilnit Zin Code �±4j 33-119-21-43-0016 6131 Regent Ave N 55429 Last Name First Name MI Owner Taxpaver Resident Tollefson Lauren Y Y Y Frnnta�e, Left Side Rear Side Right Side Eff. Width �'f De t�h Pronertv Area Acrea�e Zoning P/S F.xemot Code Schonl Dist Watershed Yr Built 98 0 0 0 81 132 10,817 0.00 R1 0279 13 1958 Year Ver #Subs Land Value Bldu Vaiue Mach Vai�e Tat Mkt Value Taz Ca� Hmstd Midvr Rel H P/I' %Own P1C 2009 1 1 58,900 134,500 0 193,400 1,934 Y Y N R 100 N 2008� 1 1 61,700 135,400 0 197,100 1,968 Y N N R 100 N 2007 1 1 57,800 167,300 0 225,100 2,244 Y N N R 100 N Lot: O10 Block: 001 Addition: Bergstrom's Lynside Manor 2nd Addition I t I I Prapefty�IG EWause# ! �ufr et C^� rye Unit =I Fhdta( )an file, Today's date: 4Q3t2OO9 I Sketch(es)on file Release 1,0:5A2G 19-21-43-0016 Address: B11tA Lagged an uer:,IHREIt�JA 3 nnk, fAssessina-Jill Brenna fPDSJP Single PI0 1 Parcel Search Clear 4 View Photos Parcel Status:ACTIVE LMIV"Updake �_ d .Tax Capalie "IJpdat, TOO Update ° a Assesmank Year . E"'� 009" _ 7 Mnua1'Assessment Maanad Lend Saks�4dmiNskratiion Sales Information Building: Land " SuMITI y SaIRatirgs Co prables Informati �. .... . ..__. ielhng y Sin le Family W us btu;" 5© Style:, Bne LeuelJR ambler Min Nr wades ? g ` Pricea?1111 #diustmen - Total"CaBA.._r 14? Ate .` 10 Zoning. R1 Weight Parameters Basic Rate: Comparables Batch U . E E2 Property Characteristics Adjusted Rate: $523 --- Ext. V�alf 0:0 Shape 4: 1.0 Land Inspections Adj.Rate'GBA: $7711 --- Add Basement_ $10,560 1056 SgFt @ $10.00 Residential j Ded.Unf.GBA: $0 = 0 SgFt e $30 00 Co-r r�r ial l.lndustri tulk �amil Adiusked Total $B7,E7B ' ' Fiel"kard f'rirtit r�spepkiap ass Add �$49,54 Garage: $S.r� 2 Charmers } P;�#ia C?"oars $1,001 Additive Amicunk toper Mias'Update!," p y r � 2 . 2.944 Decks. $0 Resrdenbalf+�essAdd a Ai"Co Walkout., $0 nd G4MA Patios: $195 Porches: 6�4 , P 00 s; $0 fA Inquiry ,"ps, r Baths $15,000 Fireplaces ,,. >, ;$ {1100 Fin Bsmt: �'; $15,048 Market Value Resider 2 �arket Value;Cammer Total Cott " $137,221 Krkheri: $0 f+�arket Value Multi-Fa � 1' j�f RAR 6bles.Land 4, s. Adjustments%: 4.2 �- Depreciation 4. Influences 0, Rate Tables A seder Functional�: 0.0 Economic CAMA Land 0.0 LAMA Fles' ential Bp raj Assessmenks Buildng Value. . X131,400 OAMA Bic�g'Mkt:�lalue: $134,500 F1at-VI6 ues, 1111, Land Mk.Value:'" �. . 9 58,900 Master thfibrmation $ 100 ? Comments Totailki.Value: $193,400 r Rwnnr And I Inn iir.iac _ � � Ell OR, Prapert r ID House# .street Narrie U 1'Photo(s)on file Today's date: 25 2000 1 Sketch(es)on file Release 1','05,02G 7", At �33-119-21-43-0016• ( 1 Aridness: X131 � ,� i � -�� Logged on u"ser":JBRENNA "�' (Assessinra-Jill Brenna(PDSJP Single PID 1 Parcel Search 2 Clear ` 3 Rrint 4 View Photo$ Parcel Stat us:'ACTIVE LMV update j -Tani=Capa€ities Update TOH Update Assessment Year: Sales Administration 2009 'Manual Assessment �= Manuall-an& -- Sales information Building Land Summar Sates Ratios �' Comparables lnformati C+ elfn Type: Quality: Style: B05 One Level/Rambler MirM x_Codes Price/T ime Adjustmen Total GBA: 1472 Age: 29 honing: R1 ;Weighk Paramekers Comparables Batch U A 1.B8 Basic Rate: $ Property Characteristics Adjusted Rate: $02.39 ---> Ext.Fall X 0.0 Shape o: 1.0' Land Ins ections ! Adj.Hate'GBA: $77.118 -- > Add Basement: $10,560 = 1056 SgFt @ $10.00 Residential ; ned Unf.GBA: f $0 0 SgFt @ $30.00 - Commercial.'In d ustct�; Multi-Famrl Adjusted Total: $87.67$ Field Card Print F x Inspections Mass Addv � 'Addit ive $36;x44,1 »�-> Garage $6,732 Dormers. $ Patio Doors $1,000 Properky Mass Updaka � lalkout: $0 Air Con Residential Mass Add .944 Dec $fl �d: $2 LAMA Patios:- $195 Porches: X4,032 " $0 � CAMA Inquiry Market Value Resrder� ' Baths $7.500 Fireplaces: $2v000 Fit Bsmt $1 X039 Market Value Commer i Total Cost: $124119 Iitiiheri; $0 Market Value Multi 1=aj Rate TableLand `Adjuskmenks •9;0 ---> Depretti�ton .9.0 Influenpes�: . 00 Rake Tables Resider ` C4MA Lind Functional : 6.6 Economic%: 0 0 CA MA Resadenk�al- E71 Special Assessmeryts Building Value: $1"12,900 LAMA Bldg.Mkt.Value: X118.900 Search Flat Values: 4 000 d Mkt.Value. $ Lan $58,900 L,* Master Informs}ion _ Comments Total Mkt.Value: i75,800 RAnnrrs Anil lnniiila p�z '€ RESIDENTIAL SALES COMPARABLE ADJUSTMENT GRID APPRAISAL OF 6131 Regent Ave N Brooklyn Center PID#33 119 21 43 0016 verage growth from 2007 to 2008 annually-12% SUBJECT COMP.#1 COMP.#2 COMP.#3 COMP.#4 NAME Laure n Tollefson NAME ADDRESS 6131 Regent AveN 5112 63rd Ave N 3507 53rd PI 7018 Girard Ave N 7225 Morgan Ave N ADDRESS PID 33119 2143 0016 33 119 21 42 0003 03 118 21 43 0076 25 119 21 33 0069 26 119 21 42 0056 PID Property Photo •*, ,. Property Photo ry ^ N , SALE PRICE $205,000 $210,000 $206,000 $206,500 SALE PRICE Financing Adl.tment ($5,836) Financing Adjustment Sale Price Sale Price (AQW"for Fl-) $205,000 $204,200 $206,000 $208,500 (Adjured for Fim-) SALE DATE Jul-08 ($10,200) Jun-08 ($12,300) Aug-08 ($8,200) May-08 ($14,600)SALE DATE Sale Price Sale Price , (Adjusted for Time) 1 $194,800 1 $191,900 $197,800 $193,900 (A°N'ted for Tln'el SITE STANDARD LOT _ SIMILAR SIMILAR SIMILAR SIMILAR SITE STYLE RAMBLER RAMBLER RAMBLER RAMBLER RAMBLER STYLE SIZE(..f.)Above Grad. 1,472 SQ FT 1713 1248 SQ FT 1613 $$A= 1922 SQ IT 1719 $.1,800 1332 SQ FT 1613 $5,500 1556/7/3 ($2,100)SRE(..f.)Ab-Or." Room Card I BR Room Caul I BR ABOVE GRD BATHS 1 FULL BATH 1 FULL AND 1 112 $2,600 1 FULL BATH 1 FULL&1 112 BATH $2,600 1 FULL BATH ABOVE GRID BATHS R BLT I EFF AGE 1958-1980 1958-1995 195$-1990 1964-1985 1960-1980 YR RLT I EFF AGE QUALITYICOND AVERAGEIAVERAGE AVERAGEIGOOD $10,000 AVERAGE GOOD $10,000 AVERAGE/GOOD $10,000 AVERAGE/AVERAGE GUALITY/CONWIGN #FIREPLACES 1 0 $2,000 0 $2,000 0 Woo 0 $$000 0FUWLACES HEAT I AIR C. GFA I CAC GFA 1 CAC GFA I CAC GFA I CAC GFA I CAC HEAT I AIR C. BSMT PARTIAL 1056 SQ FT FULL 1248 SQ FT 1,900 PARTIAL 1122 SQ FT $600 PARTAL 1156 SQ FT $1,000 PARTIAL 1208 SQ FT $1,500 SSMT SI BATHS 60%12/STOOL 75%131314 BATH $8,000 80%121314 BATH $7,500 95%151314 BATH $8,700 60%1211 FULL BATH $7,900 BSMT FIN.ROOMS GARAGE$ears 2 CAR DETACHED 2 CAR DETACHED 2 CAR ATTACHED 2 CAR DETACHED 2 CAR DETACHED GARAGE(S-) AMENITIES PORCH WISKYLIGHTS PORCH NONE $8,000 NONE $8,000 NONE $8,000 AMENTIIES REMODELING REAR ADDN KITCHENIBATH REMODEL _ REAR ADDN REAR ADDN CONVERTED Art Ore ro GBA REMODELING OTHER DAYLIGHT B6MT VW WET BAR WALKOUT ($6,000) DAYLIGNTBSMTVWEGRESS DAYLIGHT BSMr MOTCHENErrE _ DAYLIGHT BASEMENT OTHER OTHER THROUGH STREET INFLUENCE $1,300 OTHER Not Adjustment .10.01% ($19,500) -2.24% ($4,300) -4.40% ($8,700) -0.77% ($1,500)Net Adjustment Indicated Value $175,300 $187,600 $189,100 $192,400 Indical.d V.lue Valuation Reconciliation: Value Range$175,300 to$192,400. Recommendation:Lower EMV to$175,80O COMMENTS: Subject property is a 1,472 sq.ft.rambler in average condition. Property has updated maintenance free exterior,including Gad windows. Rear addition is sunken family room with pergo floor&beamed ceiling,open to the kitchen&dining areas of the home. Kitchen has refinished original cabinetry,ceramic tile floor,and is open to dining area with hardwood floor. Rear porch includes 4 skylights. There are 3 full size glider windows in the basement, allowing for full daylight in the lower level. Basement finish also includes a custom wet bar. Main bath in home is original ceramic tile in average condition,shower surround has been updated with vinyl. Property was assumed for the 2006 assessment. Review shows no lower level bath,and less basement finish than was previously assumed. Property is in average condition,reflecting the normal wear&tear of properties of this age. After review of the property characteristics,Ms.Tollefson's property calculated an estimated market value of$175,800 for the 2009 assessment. The indicated value range for the subject property is$175,300 to$192,400. :IB0ARD12009UIIAT0LLEFSON APPEALgWARD Grid 08 TOLLEFSONALSluse tNa 09 4/27/2009 1 A 4 p ' V ` Or N Bt Avg N f 333 Piasa 77th Ave N Brookdale, eraakdele Dr NJ 7781 Ave N _ Pa t 78th Ave N Park 19h Ave h '130 y E'' Lock® 75th Ave N P Laka" 74th a N \` l 73rd Ave N x 73rd Ave 14 73id Ave N Y ; 152 T Comp 4 palow Q6 d 1 r LAO $ Z x " 13 69eh Ave N 'i �N 6"Ave N 12 S R �1R Avw N Eft Ave N 2 t:raal 2 a 87th Ave Dr N Namur In r Ss. :ter Dr Y m n N tv z 64M Ave N < Y I Ave H 1 W f < we N y Z''OM 1 z Ave N Wook"Carl % SWbj@Ct i Garden ' ° z 2 CtySE�Aitpotc Mac s ys�` Park A �6 j S1 Ram 1C ? z z y < z S7tlt Ave N w+ z ' Y. 58th Ave N ti i0 g Z 8 - < j y< � Ave N ups' p 2, Y eNAd Av!»: < V 54th Ave N l dke 1 < N 53M Ave ri .. 53rd Ave N 4" , + .�,�,. N MW Ave f 52nd Ave N yt� SitdAwN L.. N51stAve t4 _ I' SalhAwN----�• �. t ..•. Z aSf 50th Ave N 49th Ave N t N 49th Ave fop e N < ;d z y }` ti - 14y8fl x Y N 47gt Ave i I 471h Ave N Ldks +B 48pt Aw N r C44 ffi ®2009 �# N s 484h Ave N < ��t• . . . COMPARABLE SALES MAP COMPARABLE #1 511263 rd Ave N, Brooklyn Center COMPARABLE#2 350753 rd PI, Brooklyn Center COMPARABLE #3 7018 Girard Ave N, Brooklyn Center COMPARABLE #4 7225 Morgan Ave N, Brooklyn Center t CITY OF BROOKLYN CENTER LOCAL BOARD OF APPEAL AND EQUALIZATION 2009 Assessment Walk-In APPLICATION FOR APPEAL Local Board of Appeal and Equalization April 20, 2009, 7:00 P.M. Name(s) Daytime Contact Number: Property Address Property Identification Number '? //_ Z%Oaof 2009 Estimated Market Value /7% rZ�7o What is the reason for your 20099 assessment appeal? �i t..7 �ifitl�r When did you purchase your home? Date of Purchase d-zj'-o y Purchase Price l�f Have you changed your property since the purchase? (maintenance, upgrades, remodeling or structural damage) Please list a brief description below with an estimated cost. O ve� Have you had a recent appraisal for refinancing, purchase or a market analysis by a real estate agent completed within the last year? Yes or If so, what was the determination of value? What is the 2009 estimated market value that you are requesting? Please provide any documentation supporting your claim of overvaluation or an erroneous classification. In order to appeal your valuation an appointment to view the property will be required. a.: 1 The Real Estate Leaders 4/20/09 To: Board of Appeal of Brooklyn Center Jason Elliott has the right to represent 9816 Palm St LLC for property located at 6300 France Ave N, Brooklyn Center in regards to the appeal of the assessed value of the property. Wade Klick IV/.MIWAMe Results 2605 Campus Drive• Plymouth, MN 55441 • Office: 763-591-6000• www.minnesotahomes.com 4/17/2009 Property Full Report,Single Family Residential,MLS#: 3527724 5842 Vincent Avenue N, Brooklyn Center,MN 55430 g apPain Status: Sold A =f List Price: $149,900 Sold Price: $151,500 5842,Vincent A Original List Price:$154,900 i Map Page:92 Map Coord: B1 Directions:XERXES TO 59,EAST TO VINCENT-HOME FACES 59TH. TAX INFORMATION MLS Area: 363-Brooklyn Center Year Built: 1956 Property ID:0211821230001 Style: (SF)One Story Bedrooms: 3 Tax Year: 2007 Const Status: Previously Owned Total Baths: 2 Tax Amt: $2,606 Foundation Size: 1,176 Garage: 2 Assess Bal: $0 Above Ground Finished SgFt: 1,176 Acres: 0.00 Tax w/assess: $0 Below Ground Finished SgFt: 0 lot Size:75X135 Assess Pend: No Total Finished SgFt: 1,176 Fire#: Homestead: No List Date:4115/08 Received By MLS:4/15108 Days On Market: 30 Off Market Date: 05/03/2008 Selling Agent: Roberta J.Simpson Projected Close Date: 6112/08 Selling Office: Edina Realty,Inc. Date Closed: 6/12108 General Property Information Legal Description: HIPPS 4TH ADDN LOT 001 BLOCK 007 County: Hennepin School District: 281 Robbinsdale,763-504-8000 Complex/Dev/Sub: Common Wall: No Restrictions/Covts: Lot Description: Corner Lot Road Frontage: City Zoning: Residential-Single Accessibility: None Remarks Agent Remarks: TOTAL RENOVATION AND MINT CONDITION.3BR/2BA,LARGE CORNER LOT,2 CAR GARAGE,C/A, FORMAL DINING ROOM,BEAUTIFUL HARDWOOD FLOORS.PROPERTY IS READY FOR A NEW BUYER AT A LESS THAN MARKET PRICE.ITS A MUST SEE.QUIET,VERY CLEAN NEIGHBORHOOD. Public Remarks: TOTAL RENOVATION AND MINT CONDITION.3BR12BA,LARGE CORNER LOT,2 CAR GARAGE, C/A,FORMAL DINING ROOM,BEAUTIFUL HARDWOOD FLOORS.PROPERTY IS READY FOR A NEW BUYER AT A LESS THAN MARKET PRICE.ITS A MUST SEE.QUIET,VERY CLEAN NEIGHBORHOOD. Structure Information Room Level Dimen Other Rooms Level Dimen Heat: forced Air Living Rm Main 22X11 Main 11X09 Fuel: Natural Gas Dining Rm Main 11X06 Air Cnd: Central Family Rm Water: City Water-Connected Kitchen Main 10X07 Sewer: City Sewer-Connected Bedroom 1 Main 14X11 Garage Stalls: 2 Bedroom 2 Main 11X11 Garage Stall#: Bedroom 3 Main 12X08 Bathrooms: Total:2 Full:1 Other Parking: Bedroom 4 Pool: None 3/4:0 1/2: 1 114:0 Bath Description: Main Floor 112 Bath,Main Floor Full Bath Information Deemed Reliable But Not Guaranteed.0 2009 Regional MLS of Minn.,Inc.All Rights Reserved. Page 3 of 6 4/17/2009 Property Full Report,Single Family Residential,MLS#: 3527724 5842 Vincent Avenue N, Brooklyn Center, MN 55430 Dining Room Desc: Separate/Formal Dining Room Family Room Char: Fireplaces:0 Fireplace Characteristics: Appliances: Cooktop,Dishwasher,Disposal,Microwave,Refrigerator Basement: Full Exterior: MetalNinyl Fencing: Partial Roof: Asphalt Shingles Amenities-Unit: Hardwood Floors,Patio,Washer/Dryer Hookup Parking Char: Detached Garage,Driveway-Asphalt,Garage Door Opener Special Search: 3 BR on One Level Financial Cooperating Broker Compensation Buyer Broker Comp: 2.70004 Sub-Agent Comp:0% Facilitator Comp:0% Variable Rate: N List Type: Exclusive Right To Sell Sale Mortgage Information Sale Financial Terms: Other Sale Loan Amount: $146,700 Seller Contribution: $4,545 Owner is an Agent?: No Sellers Terms: Cash,Conventional Existing Fin: Listing Agent: Larry C.Kriedberg 612.770-1022 Listing Office:. Coldwell Banker Burnet Appt Phone:612-920-4949 Office Phone:612-920-5605 Co-List Agent: Gordon W.Nelson 612-532-4499 This Report Prepared By:Jason M.Elliott 952-212-4742 Information Deemed Reliable But Not Guaranteed.0 2009 Regional MLS of Minn.,Inc.Ali Rights Reserved. Page 4 of 6 4/17/2009 Property Full Report,Single Family Residential,MLS#: 3547000 2806 Mumford Road , Brooklyn Center, MN 55430-2030 Ma Status: Sold .. � List Price:$150,000 p„ Rd Sold Price: $150,000 63rd rrt JJ f m —2806'M uord l Original List Price:$160,000 I' � f �nYrk Map Page:78 Map Coord:B4 k _, Directions:Xerxes Ave N East on eK Mumford Home on left .152 I_ __ �260o Mie�s�Rbmp X2007 NA�LQ,iM i k atlx,MO. , rr t TAX INFORMATION MLS Area: 363-Brooklyn Center Year Built: 1959 Property ID:3511921330050 Style: (SF)One Story Bedrooms: 3 Tax Year: 2008 Const Status: Previously Owned Total Baths: 2 Tax Amt: $2,457 Foundation Size: 1,056 Garage: 2 Assess Bal: $0 Above Ground Finished SgFt: 1,056 Acres: 0.00 Tax Wassess: $2,457 Below Ground FinishedSgFt: 483 Lot Size:75x127x43 Assess Pend: No Total Finished SgFt: 1,539 Fire#: Homestead: No List Date: 6/20 108 Received By MLS: 5122108 Days On Market:49 Off Market Date: 07108/2008 Selling Agent: Rochelle L.Spiess Projected Close Date: 814/08 Selling Office:TheMLSonline.com,Inc. Date Closed: 8/4108 General Property Information Legal Description: Garden City 1st Addn Lot 016 Bilk 009 County: Hennepin School District: 279-Osseo,763-391-7000 Complex/Dev/Sub: Common Wall: No Restrictions/Covts Lot Description: City Bus(w/in 6 bilks),Tree Coverage-Light Road Frontage: City,Paved Streets Zoning: Residential-Single Accessibility: None Remarks Agent Remarks: Show&sell this fabulously updated home w/new roof,furnace,siding,carpet,water heater, windows w/LR bay&appliances.Fresh paint throughout.Move in ready.Immediate possession. Best Value in townl Agent to verify measurements. Public Remarks: $34K below value.Immediate occupancy.Fabulously updated home,3BR on 1 level,LL family room w/wood burning stove.Huge heated shop&attached garage.All newer roof,siding, furnace,H2O heater,carpet&MUCH MOREL Quiet neighborhood near city park. Structure Information Room Level Dimen Other Rooms Level Dimen Heat: Forced Air Living Rm Main 20x11 Porch Main 22x13 Fuel Natural Gas Dining Rm Main 12x8 Work Shop Main 22x15 Air Cnd: Central Family Rm Lower 23x21 Water: City Water-Connected Kitchen Main 10x13 Sewer: City Sewer-Connected Bedroom 1 Main 13x11 Garage Stalls: 2 Bedroom 2 Main 12x9 Garage Stall#: Bedroom 3 Main 10x10 Bathrooms: Total:2 Full: 1 Other Parking: 2 Bedroom 4 3/4:0 1/2: 1 1/4:0 Pool: Bath Description: 112 Master,Main Floor Full Bath,Walk Thru Information Deemed Reliable But Not Guaranteed.0 2009 Regional MILS of Minn.,Inc.All Rights Reserved. Page 5 of 6 4/17/2009 Property Full Report,Single Family Residential,MLS#: 3547000 2806 Mumford Road , Brooklyn Center, MN 55430-2030 Dining Room Desc: Living/Dining Room,Separate/Formal Dining Room Family Room Char. Family Room,Lower Level Fireplaces: 1 Fireplace Characteristics: Family Room,Wood Burning,Wood Stove Appliances: Dishwasher,Dryer,Range,Refrigerator,Washer,Water Softener-Owned Basement: Full Exterior: Metal/Vinyl Fencing: Partial Roof: Age 8 Years or Less,Asphalt Shingles Amenities-Unit: Hardwood Floors,Kitchen Window,Porch,Security System Parking Char: Attached Garage,Driveway-Asphalt,Garage Door Opener,Heated Garage Special Search: 3 BR on One Level,Main Floor Bedroom Financial Cooperating Broker Compensation Buyer Broker Comp: 2.5000' Sub-Agent Comp:2.5000 Facilitator Comp:0% Variable Rate: N List Type: Exclusive Right To Sell Sale Mortgage Information Sale Financial Terms: FHA Sale Loan Amount: $147,682 Seller Contribution: $7,000 Owner is an Agent?: No Sellers Terms: Adj.Rate/Gr Payment,Cash,Conventional,DVA,FHA,Special Funding Existing Fin: Listing Agent: Stacy Reynolds 612-616-7029 Listing Office: Edina Realty,Inc. Appt Phone:763-754-4700 Office Phone:763-755-1300 This Report Prepared By:Jason M.Elliott 952-212-4742 Information Deemed Reliable But Not Guaranteed.0 2009 Regional MLS of Minn.,Inc.All Rights Reserved. Page 6 of 6 4/17/2009 Property Full Report,Single Family Residential,MLS#: 3514911 6526 Ewing Avenue N, Brooklyn Center, MN 55429 Status: Sold List Price:$134,900 as Sold Price: $130,000 652Pit Ewing, V( Original List Price:$139,900 152 i fh Map Page:78 Map Coord:A4 Directions: Brooklyn Blvd to 65th Ave. : mow East to Ewing.North to home. ap i"`° `° TAX INFORMATION MLS Area: 363-Brooklyn Center Year Built: 1954 Property ID: 3411921130040 Style: (SF)One Story Bedrooms: 3 Tax Year: 2007 Const Status: Previously Owned Total Baths: 2 Tax Amt: $2,083 Foundation Size: 912 Garage: 1 Assess Bal: $0 Above Ground Finished SgFt: 925 Acres: 0.00 Tax Wassess: $2,083 Below Ground Finished SgFt: 0 Lot Size:75x135. Assess Pend: No Total Finished SgFt: 925 Fire#: Homestead: Yes List Date: 3120/08 Received By MLS: 3/20108 Days On Market: 111 Off Market Date: 07/09/2008 Selling Agent:Richard M.Sundby Projected Close Date: 7/21/08 Selling Office:The Home Buyers Inc Date Closed: 7121108 General Property Information Legal Description: Lot 007 Block 008 Brooklane County: Hennepin School District: 279-Osseo,763-391-7000 Complex/Dev/Sub: Common Wall: No Restrictions/Covts Lot Description: City Bus(w/in 6 blks),Tree Coverage-Medium Road Frontage: Zoning: Residential-Single Accessibility: None Remarks Agent Remarks: This is NOT a forclosure Public Remarks: Great 3BR rambler has much to offerl All 3 BR on 1 level.Hardwood floors,coved ceiling in Ig LR.Nice eat in kitchen.Unfinished LL has great potential.Newer roof,newer maint free siding. Wonderful mature trees.A must see.Home inspection&warranty. Structure Information Room Level Dimen Other Rooms Level Dimen Heat: Forced Air Living Rm Main 23x12 Fuel: Natural Gas Dining Rm Air Cnd: Central Family Rm Water: City Water-Connected Kitchen Main 12x10 Sewer: City Sewer-Connected Bedroom 1 Main 14x09 Garage Stalls: 1 Bedroom 2 Main 12x10 Garage Stall#: Bedroom 3 Main 08x09 Bathrooms: Total:2 Full: 1 Other Parking: Bedroom 4 3/4:0 1/2: 1 1/4:0 Pool Bath Description: 112 Basement,Main Floor Full Bath Dining Room Desc: Eat In Kitchen,Living/Dining Room Family Room Char: Fireplaces: 0 Fireplace Characteristics: Information Deemed Reliable But Not Guaranteed.0 2009 Regional MLS of Minn.,Inc.All Rights Reserved. Page 1 of 6 4/17/2009 Property Full Report,Single Family Residential,MLS#: 3514911 6526 Ewing Avenue N, Brooklyn Center, MN 55429 Appliances: Dryer,Microwave,Range,Refrigerator,Washer,Water Softener-Owned Basement: Full Exterior: Metal/Vinyl Fencing: Chain Link,Partial Roof: Age 8 Years or Less Amenities-Unit: Hardwood Floors,Kitchen Window,Washer/Dryer Hookup Parking Char: Detached Garage,Driveway-Asphalt,Garage Door Opener Special Search: 3 BR on One Level,Main Floor Bedroom Financial Cooneratina Broker Compensation Buyer Broker Comp: 2.7000' Sub-Agent Comp:2.7000 Facilitator Comp:2.7000 Variable Rate: N List Type: Exclusive Right To Sell Sale Mortgage Information Sale Financial Terms: FHA Sale Loan Amount: $130,000 Seller Contribution: $3,900 Owner is an Agent?: No Sellers Terms: Cash,Conventional,DVA,FHA Existing Fin: Conventional Listing Agent: Thomas R Walters 612-382-4607 Listing Office: Edina Realty,Inc. Appt Phone:763-569-5600 Office Phone:763-566-5770 Co-List Agent: Sandra L Walters 763-569-5708 This Report Prepared By: Jason M.Elliott 952-212-4742 Information Deemed Reliable But Not Guaranteed.0 2009 Regional MLS of Minn.,Inc.Al Rights Reserved. Page 2 of 6 a Review Of 6300 France Avenue North PID#34 119 2142 0008 For 9816 Palm St LLC 2009 Board of Appeal and Equalization u City of Brooklyn Center A Millennium Community TO: 2009 Brooklyn Center Local Board of Appeal and Equalization RE: 9816 Palm St. LLC 6300 France Ave N. Brooklyn Center,MN 55429 Mr. Elliott contacted the 2009 Local Board of Appeal and Equalization regarding the 2009 estimated market value of the property located at 6300 France Ave N.,as a walk-in appeal. Mr. Elliott's property has a 2009 estimated market value of$171,500. The board directed Mr. Elliott to schedule an appointment for an interior review with the Assessor's office. A review of the property was completed on April 23,2009 with an appraiser from the Assessor's office. The property is a 1,502 sq.ft. rambler with a two car detached garage in average condition. The main level includes a living,dining,kitchen, family room,three bedrooms, one full bathroom and a fireplace. The basement finished area includes one family room and two additional finished rooms,but no bedrooms. The property has a gas forced furnace and central air conditioning. After reviewing the property,changes were made in physical characteristics to the size of the basement area and quality of basement finish. The property was assumed during the last quintile review. After reflecting the characteristic changes the property has an estimated market value of$168,100. Mr. Elliott was requested to provide a copy of the 2008 income and expense documentation for the subject property as he had indicated that the property was currently rental. The information was provided however due to the confidential nature of the information it was reviewed by the Assessor's office,but not included in this report. An income approach to valuation was included in this report and indicated a value based on market rents. The indicated market rent used was at the higher end of the rental scale for a three bedroom unit to account for the two stall garage, large square footage, and useable finished basement area. The market income approach indicated a value of$160,000 for a 1,000 sq. ft.,standard three bedroom home in Brooklyn Center. More specific rental data was not available for a larger than average property. The enclosed grid completed by the Assessor's office compares the subject property to four similar homes in Brooklyn Center. While the subject property is larger than the average 1,000 sq.ft. home, adjustments were made to all comparables for size. Comparables number one and three 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$167,700 to$183,400. Mr. Elliott provided three open market sales for properties in Brooklyn Center with a range in value from$130,000 to $151,500. The sale comparables have been included as part of Mr. Elliott's report. However, of the three sold properties, 5842 Vincent was 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 � r only sale that had over 1,100 square feet, but it also had a smaller basement and no basement finish. If the property at 5842 Vincent Ave. were adjusted for time, size and basement finish, the comparable comes in with an adjusted sale price of$165,500. There was no adjustment made to the proximity to the apartment complex, but it could be an additional factor impacting the sale price. It is the Assessor's recommendation to reduce the 2009 estimated market value of $171,500 to $168,100 for taxes payable in 2010, as indicated by physical review, and sales comparables. Respectfully, Nancy Wojcik, SAMA City Assessor SUBJECT PROPERTY 6300 France Ave N 9816 Palm St LLC PID# 34 119 2142 0008 k y PAP k ivy AI Y' py F ? W H Land Characteristics Land Area 10,304 sq. ft. 2009 Land Value $ 58,900 2009 Building Value 112,600 TOTAL 2009 EMV $171,500 as submitted Building Characteristics Style: Rambler 1,502 sq. ft. Main Level Room Count: 7 / 3 / 1 Full Bath Below Grade Room Count: 3 / 0 / '/2 Bath Garage: 2 Car Detached i Fireplace: 1 Porches/Decks/Misc. : Patio Central Air Conditioning: CAC Hennepin County Property Map - Tax Year: 2009 i The data contained on this page is derived from a compilation of records and maps and may contain discrepancies that can only be disclosed by an accurate survey performed by a licensed land surveyor.The perimeter and area(square footage and acres)are approximates and may contain discrepancies.The information on this page should be used for reference purposes only. Hennepin County does not guarantee the accuracy of material herein contained and is not responsible for any misuse or misrepresentation of this information or its derivatives. � g € .+ � (y ww 63 1 1 6312 142'yf� pg€ � 6307 ' ji 77 y -„ � � X301 F �I� -.tG ■ ;'1q r�r �a'. s "' >� is.�' ,.� r'v. 5 .s� s ( '�rs aipi `i��rf�,t fi 630 1 Yk :. y XM VA", y t t } 63RD AVE N l 3 3 011, 15 C LU p r�a4 r37 4..a z 6243 LL > � Selected Parcel Data Date Printed:4/24/2009 12:27:59 PM Parcel ID:34-119-21-42-0008 Current Parcel Date:413/2009 Owner Name: 9816 PALM ST LLC Parcel Address: 6300 FRANCE AVE N,BROOKLYN CENTER,MN 55429 F 4 Property Type: RESIDENTIAL Sale Price: $185,000.00 Homestead:NON-HOMESTEAD Sale Date:08/2004 j Area(sgft): 10304 Sale Code: Area(acres):0.24 A-T-B:TORRENS Market Total:$177,600.00 Tax Total:$2,535.30 i I City of Brooklyn Center PID: 34-119-21-42-0008 Property Type: R-Residential Value Info: Residential Field Card Property Address: 6300 France Ave N Zoning: R1 YearNersion: 2009/-1 Printed: 04/28/2009 Lot/Block: 006/002 Dwelling Type: Single Family Land: 58,900 Assessment Year: 2009 Addition: Fair Meadows Owner(s): 9816 Palm St LLC Bldg: 112,600 Version: 1 District: Total: 171,500 Neighborhood: 0053 ,F PIM Model f, Area(SgFt): 1,250 KitchenRtg: Very Good Interior: Interior: Res.Cond: Average Placement: Detached Type: Regular Interior: Plaster Trim: Trim: Dwell Type: Single Family #of Cars: 2 Finished(%): 75 Trim: Hardwood Floor: Floor: Int.Layout: Standard Floor Area: 440 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: 1 Fplc,Quality: Fplc.Quality: View: Equal Avg.Clear.Height: Fplc.Quality: Average Actual Age: 1956 Elec.Svc: Standard Arch./Appeal: Average Gars a#2 Htg: Forced air,gas fired Effective Age: 1980 - Walkout: Quality: 605 Placement: Walkout Quality: ist #/ ,,,, ,,, 2 0' #It lIt, Ia 3rd Bat)s3 i�uality) Renovated Age: #of Cars: Spa: 1 Spa: / Spa: / Shape: Irregular Floor Area: Dix: / Dix: / Dix: / Functional W 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 Ba&ement Bot # 1 E as Exterior Walls: Wood Glazed Area: Spa: / Est Courtf Roo f I csunt 3rd ROOM Cgj1 y Unfin. 1 st GBA: Quality: Full: / Bedrooms: 3 Bedrooms: Bedrooms: Unfin.2nd GBA: Exterior Trim: Brick Screened Area: Unfin.3rd GBA: 3/4: / Baths: 1 Baths: Baths: Quality: 1/2: 1 / Average Family: 1 Other: Other: Unfin.Total GBA: Roof Type: Hip 9 Open Area: Living: 1 Total Rooms: Total Rooms: Quality: Dining: 1 1st Floor Area: 1,502 Roof Cover: Shingles I 4inent �co+ nt Kitchen: 1 2nd Floor Area: Bedrooms. Other: 3rd Floor Area: (,,,,, Baths: 1 Total Rooms: 7 Total GBA: 1,502 Window Type 1:Double Hung patio 1 Area: 220 Family: 1 Window Type 2: Quality: Average Kitchen: Flat Ya(gw- Patio 2 Area: Other: 2 Value: Air Conditioning: Central Quality: Total Rooms: 3 Desc: Dormer Length: Bedrooms: 3 y Date: „ 08/011200 Baths: 2 � ;; ,., ,,,,,,,E,, f Dormer Quality: Deck 1 Area: 4 Appraiser ID: 18 Appraiser ID: Family: 2 Quality: Living: 1 04/23/2009 t l D i 000 A $185 Price: , pprasaae: #Patio Doors: Deck 2 Area: Dining: 1 Code: 99 Reason: Board of Review Appraisal Date: Quality: Desc: Conversion-X Sales Result: Interior Kitchen: 1 Other: 2 Last Interior Inspection: 04/23/2009 Reason: Total: 10 Result: Pool 1 Area: Quality: Left Tag: Yes/No Pool 2 Area: Quality: '�' r y �;.... `', ;" i -� ^.� Updated Kitchen,Good size ceramic tile floor kitchen.Exterior requires painting. Deferred Maintenance exterior.04Perm/Assumed 10/01 & rsnit�es ,,, ,F 2006 2009 Appeal review 09/PERM/Furnace Replace Payne=F Bsmt has carpet,paneling,ceiling tile.Patio area behind garage. Adj bsmt fin area and adj bsmt area.Garage access on 63rd Ave N. City of Brooklyn Center PID: 34-119-21-42-0008 Property Type: R-Residential Value info: Residential Field Card Property Address: 6300 France Ave N Zoning: R1 YearNersion: 2009/-1 Printed: 04/28/2009 Lot/Block: 006/002 Dwelling Type: Single Family Land: 58,900 Assessment Year: 2009 Addition: Fair Meadows Owner(s): 9816 Palm St LLC Bldg: 112,600 _ Version: 1 District: Total: 171,500 Neighborhood: 0053 Burldang I3 nslgns Land Type: Standard Lot Frontage: 60 Park: Curbs Thru Street L n Wi Sq ,t Land Quality: B05-land Left Side: Park Quality: Gas 40 26 1040 Area Rating: Very Good Rear Side: On Lake: Paved Street 3 14 42 Site Rating: Good Right Side: Lake Quality: Sewer Available 14 12 168 Zoning: R1 Effective Width: 67 On River: Water Available 12 21 252 Contamination: Effective Depth: 124 River Quality: 0 0 0 Flood Plain Map Ref: Effective Water: Landscape Quality: Average 0 0 0 PUD Ref: Property Area(SgFt): 10,304 0 0 0 Allowable Units: Acreage: 0.24 Not Buildable: N Excess Land(SgFt): Adjacent Owner: N Usable SgFt: Flood Plain: N Flat Desc: Zoning Variance: N Flat Amount: Manual Land: N 12' s " 14' t, 20' I I 12' easement 1250' t �d 4 ~� i' a 40' � 12' Q' h 14. 20' Garage First Floor 1502' 20' 12' 40 Sketch by Apex I Report Name: Permit List City Of Brooklyn Center Printed: 04/28/2009 Permit List Page: 1 Permit List for: 6300 France Ave N Permit# Unit Permit Tyne Sub-Type Work Tyne Description Cancel Date Issued Date Final Date Value BC037818 Mechanical Furnace Replace FURNACE REPLACEMENT 04/09/2009 $2,100 BC037817 Plumbing Residential Replace REPLACE FURNACE 04/09/2009 04/09/2009 $2,100 BCO25531 Electrical Residential 1&2 Family Replace INSTALL SMOKE 09/22/2004 10/20/2004 $240 DETECTORS BCO24276 Building Residential Single Family Replace TEAROFF/REROOF 04/20/2004 06/01/2004 $1,500 BC005699 Mechanical Furnace Replace FURNACE 11/01/1995 01/25/1996 $1,610 Permit Count: 5 i Report Name: Assessor Inquiry City of Brooklyn Center Printed: 04/28/2009 Page: 1 Assessor Inquiry Display PID House Nbr Street Name Unit Zip Code 34-119-21-42-0008 6300 France Ave N 55429 Last Name First Name MI Owner Taxpayer Resident 9816 Palm St LLC Y Y N Frontage Left Side Rear Side Right Side Eff.Width Eff.Depth Property Area Acreage Zoning P/S Exempt Code School Dist Watershed Yr Built 60 0 0 0 67 124 10,304 0.24 Rl 0279 14 1956 Year Ver #Subs Land Value Bldg Value Mach Value Tot Mkt Value Tax Cap Hmstd Midvr Rel H P/T %Own P/C 2009 1 1 58,900 112,600 0 171,500 1,715 N N N R 0 N 2008 1 1 61,700 115,900 0 177,600 1,776 N N N R 0 N 2007 1 1 57,800 146,600 0 204,400 2,044 N N N R 0 N Lot: 006 Block: 002 Addition: Fair Meadows b� I I I I 1 e ee � 1 . e : ee e : � e_ e � el `-1,":1I I,11,",l,1,M,'Z,��;-1 1i"�",,4�l��,""z-,,,,�-,1 I�1�,���-1',11�'-1'1��I�I t,,-,,-,:,1,-1i-�"",1-i,,-,��4,,,''lI I 1I 1�A,W',",-i�"",,,l�,,E",`z"�',:z 1�,��,:,l"I'll I,",�,',,I�I I�1�,,,,'ll-,��L1�,,,:1,1,,-,;1K`'--� ,I,"U�111�,1 1�"��-�--p,.,,1-I',,,-"1'1"-'%,��4I1,��",-,-',�,-�I,"�,",",,,',,--���,,�,:--,-`",,:,"I,,",!���,',,,i�,1-'11-W,-"uI;�':,,,�-,�-,j ,,1�,,t Iz,�V,"-._�,'I r-.*i'1�W��-,,'xk.1-�I,e,,-H.*".`%,,1 I..-,,�,Q,l,I.,,,,_','1,,..,I��,, '�-,,,-,,-I''1�"I 1�,','�,i I I 1 I-",1'_-',��-,-J�",,1�1 1N',"'�-�1�z�,,,-�z",g I I�I�n',".�,,,,"i,.--I-I,�,,,�-,-�;,,,Z-.'",1,,,"1,-"'�,-,,II,'�d I.1-'",',�"'�,��I�'1--."1--,��i',4";-�.I 1�e1 Z�,,g.,".z1,�"",��-,�,T���1:-',1`,,,1",�,�,z,,.'z l-�"�;,�,z,' ,�-� 1,1',1,-;I�tI�',�-�,,,,,�z"1,,1,111,,�i,,.I-1-I!;,,����z,",�"',-�11,1,,,---z z��,=t 1�.-`,N,�"-,"��'J�,I z-"��1,,0,,,.--'-I`�z,��`,I��1-z,!-e N-`,�11,11,,-"�I,�-,,��,,��I-I"","�,,'�",,,,-- �1,- "�I�-��V�,-1 It A,�-,�����I,,,,�,I,:-�I-,",�",�-,,�I���,--,�I,-�,�1�-�"1"�1,,,,";,'1�,'0 I 1I,,,,z z1��-I1�-',,�`,,",,-�I",lI I","..-I,1,'�,,',I,��1,t�I Zr aI"�1�,,l,,,,I,,,,���,,q,-,:Z1:1,�-,I l�-,",,JI-��--,I,,,,l��Zl�",',1'-,',,�I,I"�-,,-,`��,,,-y`,I�,-,I,-,,I,,�"1'�,-I,-�,.,,,`�-1 1I"A',�.",",1 .�,J�",,1 I,�I',,--,1,,,,,I I�,,,;�,I,I-�-,�IF�i1I�1I-,��;, ,���"�,,-!I I I I,",--'-1z p,,I.-,",-,l z"U",." �.",-�:I"I-,1:I 1 1�6,'�0-"�r��"�"-�,'---I I��"-1',,1,�;.1'�I,,A,1,1,�-�&�.A,,k-7 1�,'r��,-"��:I.'-,,-,,'-�.�z1 I x.1,"I"�,,,�,�"'-.-,-I�,'�".-ZO��� �-,t,,,'1�I,.�r�� "II,,,�'I1,��II MN�-�zI l�i 1 N 1-�t�"I,I I�1,J,��-,.,'1 A!I,; . . . ,. . p . -I-;I,I""V,,�`��,I�-��,,,",,`",,'� ,, pro ert Id Muse# �treett+lme tanrt 9 I'hoto( onftle :: Toda;+s-date:04t2�#1t�09 -- -,1"���"�I,,,,,",,m1, -- Release 1 t7a 02C = 1 S 21 42 00 Address: 1 sketches)an.file 341, 08; �, 6300 n a �; s, Assessor Commer7ts on file v .. Lo gee or,user.KCAST© ,..:10 0#14 , �,�"��1 fA sessinca=Karen Lasko fpds ,- ���1 Q"-:,'1,,z"I 1�,,,",1;1 I,k I�,'',"".�11,"',,,I�1'�,1"�1�1,,-",`, i I�,� a e Sear 2Cear ' 3'Print 1 P rc I ch I 4 View Phokas �� ,- arcel5ta#uI ACTIVE S ,. ....,. .. - >- - - - - - ti -.- P a� arel�Admintstratton .. ParceI1nI maficn e , Assessor Comments i z arc-''I r+i AssessmentYear,, ;2009 _ ,Manual,►Nsessment ManualLarid ;1. P - sianmg Temporary RI,17 Updat ' ['I s' , "` Buddm g" Land, Summary f Protect Ll pdat 3, Assessor Inquiry -•: F,. R.weling.,Typey�_ „<,,,, [�ualty:'' Sktile. ,... Taxpayerin airy „ ,. y Sin 4eFamil 805 DnewellRambler Velues Admmis#ration h ,':, - TotaI.GBA.. 1502 ,. . Age 24 Zoning R1 Values Inform'akion Hennepin Couhty Trar�,,; Basic Rate $ 133 HomesteadU�� ate b' a Adjusted Rate. $4982 :. ;j --- Ext �s}al4° O.tl haRe�. 1:0 Lasf'Apprais, Year L ,,..�P`t�,,.,�,:,I I�,-.,:-I 11,,�-,v��.I��"�,�,I I-Z-�,�."Z�-I,,,'"..I;','-',I`���1I�.I��--r�,,,1-"�,t,I I I.,-,��-,"`,I n'1_'-z 11�,I 1 '-I,,j I 1-`I-",-z1 J-I 1,,I,,1,I�I�1,"",-I,-,,,,,-, 1 III�--" �"]I,,,-"'.��-,r 1 1"�.'-I I',",I,"z I-'�,,�i 1,I',.,i�,,F ll,'�,:,.,,;4,,,-,-!,,,,,�I 1',1I-�.,,-I",I,,',l,,,,,��",,'--,"'-,,-,_��,,_�-�,�,,I�",,,,�-,!'":-I-,I i 1�",� I,1 I'LMV Updake.. Adj.Rake CB A; $74,829 -- ; Add Basement $72,4Q0 X240 S'gFt $10.00 Tax Capacities Updat�v teed Unf:GBA $0 0 S,`qF# @ $30.00 Sales Administraktan , :` , z , Adtusted T c#ai, $87,229 „ ., a Sales lnforr>3ak(onii; Sates Ratios i3 g H cNn arables;.tnfor C :.P Additive: FropertytD, Hausa#: tr et Iarrfe- Una 1.'I?hoto(sj on file Today date"f NIIII 1'Sketch(es)on file Release. 1,C1S - ` 34,119 2142 000$ _ Address: EW h Assessor.Comments on file Logged on,user,KCAST�?N AI fAssessina-Kasen Casto l 1`0 af 1 �y Paresj"Search 2:Clear 3',Pnnt 4 Vie+ Phokas, " Parcel Status.A C71VE L Parcrl Adminlstmkion �, Parcellrit`oimahon Assessor Comments Parcel Dovisioimg I :4ssessmi?nt5'ear. 2009 ManualAssessment Manual Land Temporary PID U, t " B di wl n 9 Land" Summar s Pro eCk U. data y I P Assetsorinquuy _ Taxpayer Inquiry Dwelling Type: Single Family ua6ty; B05 S" rle fine LeuellFianbler Q ::- V'aluesApmmistration , 4 Total'GBA 1502 Age P9 on R1 Value Information Hennepin Gounty Trar El Basip Rate: WA3 Hampstead Update Adjusked Rake: $49 82 => Ext 'Mall : Last Appraised Year L 00 Shape . l.0 " LMV Update AdI.Rake GBA. $74,825 ---> Kidd Basement- $12,50D = 1250 SgFt @ $f0.00 - Tax GapII Updab Ded Urd l $0 = r0 SgFt $30.00 SalesAdrir,Inlskratron u �aales"lnfarmattorr , Adjusted Tokal $B7 329 : , R + Sales Rak�os _ Gom,ambles"Inforrriakr � �.�" :AdditlteAmaunk: �. $34>1722 > 1G.arage : $6.732 Dormers $[J Pakio;bpots ' 'MlnMax Codes A walkout $0 Air Cond 3 000 Decks" Prroe'TimeAdjustmer� ' = $ , $p weight Paramekers x y patios $11}5 Porchesp Pools -omparables Batch U Properly C�ierac#er,Istres �, uBaths $.3 0170 Fire laces " 2 Ot7a Fih.BSmt p $ $13125 Land q Total Mask $ 21 357Itckren $ lns{i ctions Residenklal p 9':0 Influences%: 7.0 Adjustments; : 1 B#} > De reC1a11an/ Commercial y lnduskrta � MultiLamily Functrona{/ 00 Economic/: fj.Cl Field t,ard Print LAMA Bur{dlhgv alue: .$103X10 CAMAEIdg.W.Value $�09OQ LAMA uy MatketValue Res lnqu rder Flat Velyes: $0 LandMWValue: _ $58900 M arket Value Commer; g Total MU V alue: $168.100 3 RESIDENTIAL SALES COMPARABLE ADJUSTMENT GRID APPRAISAL OF 6300 France Ave N Brooklyn Center PID#34-119-21-42-0008 average grmvth from 2007 to 2008 annually-8% SUBJECT COMP.#1 COMP.#2 COMP.#3 COMP.#4 NAME 9816 Palm St LLC 6406 Beard Ave N - 5112 63rd Ave N 5306 Boulder La 7225 Morgan Ave N NAME ADDRESS 6300 France Ave N 34-119-21-41-0123 33-119-21-42-0003 33-119-21-43-0053 26-119-21-42-0056 ADDRESS PID 34-119-2132-0008 PID P iii 1 rlii � i Pro Photo � Perty Property Photo q 8� wxr YPo I i SALE PRICE SALE PRICE Financing Adjustment $185,000 $205,000 $178,500 $208,500 Financing Adjustment Sale Price Sale Price Adjusted for Finance) $185,000 $205,000 Adjusted for Finance) $17ssoo $2os,5oo SALE DATE Apr-08 ($14,800) Jul-08 ($10,300) Jul-08 ($5,900) -08 Ma y ($14,600)SALE DATE Sale Price Sale Price (Adjusted for Time) $170,200 $194,700 $169,600 $193,900 (Adjusted for Time) LOCATION Averse Average Averse Average Average LOCATION _ SITE/FRONTAGE 10,304 s .ft. 13,137 sq.R 11,818 sq.N 10,162 sq.ft. 9,525 sq.a. SITE I FRONTAGE STYLE Rambler Ramber Rambler Rambler Rambler STYLE SIZE(s.L)Above Grade 1502 sq,ft.17/3 1256 sq.ft.1613 $6,200 1248 sq.ftJ613 $6,400 1152 sq.fL16 13 $8,800 1516 sq.ft.1713 SIZE(s.f.)Above Grade Room Count I BR _ _ _ Room Count I BR ABOVE GRD BATHS 1 Full -__ 1 Deluxe ($2,000) 1 Full/1 12 Bath 1 Deluxe ($2,000) 1 Full ABOVE GRD BATHS YR BLT/EFF AGE 1956 1959 1958 _ 1959 1960 __ YR BLT I EFF AGE _ QUALITY/COND Avera a/Averse Avers a/Good __�_ ($10,000) Avers a/Good - _.. ($10,000) Avers a/Average Avers a/Good $10,000)OUALITYICONDITION #FIREPLACES 1 None $2,000 None $2,000 None $2,000 None _ $2,000 #FIREPLACES HEAT/AIR C. GFA/CAC GFAICAC GFA/CAC GFA/CAC GFA/CAC HEAT I AIR C. IS Partial 11260 sq.ft. Full/1256 sq.ft. Full 11248 sq.ft. Full 1 1152 sq.ft. $1,000 Partial 11208 sq.ft. BSMT BATHS 75%1112 Bath _ 759/61314 Bath ($1,500) 75%/3/4 Bath___ ($1,500) 80°/11/2 Bath $300 60%/Full Bath -__ ($1,300)BSMT FIN.ROOMS GARAGE(#cars) 2 Car Detached 2 Car Detached 2 Car Detached 2 Car Detached 2 Car Detached GARAGE(#cars) AMENITIES _ Deck ($1,000) Glazed Porch _ $8,000 Screen Porch $1,500 AMENTIIEs OTHER Walkout $6,000 REMODELING OTHER Thru street(1200) Apartment $3,800 Thru Street No Influence $1,200 No Influence $1,200 OTHER Net Adjustment 4.47% ($2,500) 40.07% ($19,600) 4.36% $7,400 5.42% ($10,500)Net Adjustment Indicated Value $167,700 $175,100 $177,000 $183,400 Indicated Value I I I aluation Reconciliation: Value Range 1167,700 to$183,400. Recommendation:Reduce EMV from$171,500 to Ll 68 100. I COMMENTS The subject property is located at 6300 France Avenue North in an area of similar homes. The subject property is a 1502 sq.ft.rambler,built in 1956. An interior review of the property was completed on April 23,2009. The interior of the home is in average condition. The kitchen is good size with a ceramic tile Floor. The basement finish is carpeting,paneling,and ceiling tile finish.The basement has 1/2 bath in average condition. After reviewing the subject property an adjustment was made to the basement sq.ft.area and the quality of finishing. The subject property is located on the corner of France Avenue and 63rd Avenue North and is receiving an adjustment for the busy thru street. The subject property has a two car detached garage facing 63rd Avenue North. After updating changes to the physical characteristics the subject property shows a reduction in the 2009 estimated value of$3,400. it is the staff's recommendation to reduce the 2009 estimated market value from$171,500 to$168,100 for taxes payable in 2010. I G;IBOARD12009\Kamnl 300Fina AveNBOARD Grid 09 maste-Isx use this 09 x � R AVUJ 4..1-1 1 x 77th Avp (9 CdP j a s IN 152 Ar ii s� pt I End A' Aug �L r v 1 2 FA NVI-1- i7th 44MV s Y f'� R , �,"I"i a s + . �+ EJKVehfd n x t, COMPARABLE SALES MAP COMPARABLE#1 6406 Beard Ave N, Brooklyn Center COMPARABLE #2 511263 rd Ave N, Brooklyn Center COMPARABLE#3 5306 Boulder La, Brooklyn Center COMPARABLE#4 7225 Morgan Ave N, Brooklyn Center .... . 2009.INCOME APP OACH ANALYSIS:.:::..... . . RentaI.DW01in ..... . ..... ...... 9816 Palm St. LLC YEAR OF CONSTRUCTION: 1956 6300 France Ave N. PID: 34-119-21.42-0008 .................................................................... .................................................................... . . ...... . .. ETON;: ......AL .......... : :UNITS...... MIX. R iVT;:::: :AEAkT..... . At N ................................................................ 0 Studio $480 $0 0 1 Bdrm $575 $0 0 2 Bdrm $700 $0 1 3 Bdrm+ $1,500 $1,500 1 GARAGES $60 $60 ECONOMIC ACTUAL MONTHLY ADJ. RENT $1,560 TOTAL ANNUAL ADJ. RENT $18,720 TOTAL NUMBER OF UNITS 1 TOTAL FINISH AREA 2,440 TOTAL NUMBER OF BEDROOMS 3 COWI® AL Gross Rent Multiplier G.R.M. 9.00 9.00 CAPITALIZED VALUE OF PROPERTY $168,000 CAPITALIZED VALUE PER UNIT $168,000 LV per Unit BV per / 2009 Land $58,900 $58,900 2009 Bldg $109,100 $44.71 CORRELATED 2009 VALUE BY INCOME APPROACH $'F6&000 . :;: Zoos as ses ytztnt -118 21 t .. Vlu . j ' y ; > ............... ;;>;;:....:: : i `> !!>!! i `Y'`<:><` z: i>; < {i asi < <F'6& : . ;� ` I€>>2t1.. 5 ...$. ...PEA. .................................... L...::::::::::::.:..::::. . .::.: ::.:..::.. Totaf >< ? ?;<> > > iii%!r>< <:<<::::::<:>;?:::::::>: '«<::::»:::<?::::>�::::>; ......... :.: ... ..$ 8 gOD:.:. Bi18 1�Q ;;: $16..8 D04. 2D09.PEE�.U1>IIT X168 Q00.: