Fort Walton Beach Resolution — 88-37-Unclean Habitations, 19 Jonquil — reading text

areas with 46 000 im- 0 .. ho" p of " he subiect direct sales comDarison is not con- hi" hlv ..", in liohl", the subiect. IIOICATED VALUE BY SALES COMPARISOI APPROACH ....,...,.,....."........,...,.......,..,.'.,.'.,...".",.,.,.........".,..".,'.,'. $ 47 500 IDICATEO VALUE BY . ICOME APPROACH ( If Applicable) Estimated Market Rent $ N/ A / Mo, x Gross Rent Multiplier N/ A & $ N/ A This appraisal is made GJ " as is" 0 subject to the repairs, alterations, inspections or conditions listed below 0 completion per plans and specifications. Comments and Conditions of Appraisal: * See " Additional Features" on front of report form. Final Reconciliation: The '" OS" ann" h o,,'" is refZarded as the most reliable means of valuing the sub; ect n" y"" h",,,..<1" lIn" n in fonninfZ the final oDinion of value. This appraisal is based upon the above requirements, the certification, contingent and limiting conditions, and Market Value definition that are stated in o FmHA, HUD &/ 01 VA instructions. Q Freddie Mac Form 439 ( Rev, 7/ 86)/ Fannie Mae Form 1004B ( Rev. 7/ 86) filed with client 19 _ GJ attached, I ( WE) ESTIMATE THE MARIET VALUE, AS DEFilED, OF THE SUBJECT PROPERTY AS OF Fphrl1:t : 2'5, II ~ to be $ 6.7 500 ry I (' M!)certify: that to the best of my ( our) knowledge and belief the facts and data used herein are true and correct; that I ( we) personally inspected the subject property, both inside and out, and have made an exterior inspection of all comparable sales cited in this report; and that I ( we) have no undisclosed interest, present or prospective therein. ~ ~ Appraiser( s) SIGNATURE _ _ Review Appraiser SIGNATURE o Did 0 Did Not NAME T"_ if applicable) NAME ,_, Inspect Prooertv l!"_~ '. ( om 70 10/ 66 12Ch. Forms and worm~..<< o 315 Ave.. Now Haven, CT 06511 1( 800) 243-4045 Fannlc Mae Form 1004 10/ 86  o QAnDENDUM I ZONING, CODE VIOLATIONS, HIGHEST AND BEST USE, FUNCTIONAL AND PHYSICAL INADEQUACIES, DEFERRED MAINTENANCE is defined: As used in this report, highest and best use that supports the 1. The reasonable and probable use of vacant land or improved highest present value as defined, as of the date of the appraisal. property, of land or reasonably probable and legal use 2. The sites as though vacant, found to be physically poss- feasible, ible, appropriately supported, financially value. and that results in the highest present land 3. The most profitable use". * is located is zoned R- 2 ( Multifamily Dwell- The area in which the subject of Fort Walton Beach. Currently the subject ing District) by the City as a boarding house and according to Cliff Buffhan, property is utilized in R- 2 districts. the City, that use is allowed Chief Building Inspector for the building inspector, and Mr. Henry Owens 1988 Mr. Buffhan, On February 25, property and of the Fort Walton Beach Fire Department examined the subject which prevent legal building code and fire code violations noted numerous a boarding house. The violations which were spec- use of the subject as ified include the following: steps required. 1) Entry steps inadequate- permanent inward- doors are required to open outward. 2) Entry doors open additional door required. 3) Inadequate building egress- inadequate- one- hour fire rating 4) Numerous interior walls required for interior walls. 152 The Dictionary of Real Estate Appraisal, Pg. of the REal Estate Appraisers American Institute of Nov. 1986 National Association of Realtors,  ADDENDUM I I 0' _-' 5) Interior doors inad~quate~ solid core doors required. 6) Kitchen inadequate- commercial type ventilation system, automatic fire extinguishing system, automation gas and electricity shut off systems, door with self closer, etc. required. 7) No fire alarm system- alarm system with smoke detectors in each room required. 8) No emergency lighting- AC! DC emergency- exit lighting required. 9) Unused gas line plugged- gas line required to be capped. 10) Combustion air intake for gas wate~ heater partially blocked. 11) Structure wiring inadequate and dangerous. 12) Exterior storage shed located too close to main structure. observed at the subject property. Additionally, the following conditions were 1) Paint ~ ailure at gable ends, eave soffits and fascia boards. 2) Cracks in front concrete block wall of main structure. 3) Broken window