PROPERTY EVALUATION (RESTRICTED REPORT)
LAND SALES ANALYSIS ADJUSTMENTS
Subject
Sale 1
Sale 2
Sale 3
Sale 4
Sale 5
Sale 6
Land Sq Ft
6,053
2,178
6,534
5,227
8,100
7,846
2,178
Shape
Irregular
Regular
Regular
Regular
Regular
Regular
Regular
Topography
Level
Level
Level
Level
Level
Level
Level
Sale Date
n/a
3/30/2019
1/30/2019
12/20/2018
12/5/2018
5/25/2018
For Sale
Golf Course Dr
Street
Ramon Rd
Navajo Trl
Via De Anza Wishing Well Trl
30th Ave
Ramon Rd
City
Cathedral City Cathedral City Cathedral City Cathedral City
Cathedral City Cathedral City Cathedral City
Zip Code
92234
92234
92234
92234
92234
92234
92234
Primary/Secondary Street
Secondary
Secondary
Secondary
Secondary
Secondary
Secondary
Secondary
Lot Condition
Paved Lot / Raw Land
RV Pad Finished Lot
Finished Lot
Finished Lot
Finished Lot
RV Pad
Median Housing Price
$
307,143
$
307,143
$
219,538
$
248,792
$
230,830
$
298,870
$
307,143
Entitlements
None
None
None
None
None
None
None
Zoning
RR
RR
R1
R1
R1
RR
RR
Unadjusted Price
$
45,000
$
50,000
$
28,000
$
50,000
$
65,000
$
53,000
Unadjusted Price/SF
$
20.66
$
7.65
$
5.36
$
6.17
$
8.28
$
24.33
Property Rights
0%
0%
0%
0%
0%
0%
Subtotal
$
20.66
$
7.65
$
5.36
$
6.17
$
8.28
$
24.33
Financing Terms
0%
0%
0%
0%
0%
0%
Subtotal
$
20.66
$
7.65
$
5.36
$
6.17
$
8.28
$
24.33
Conditions of Sale
0%
0%
0%
0%
0%
-8%
Subtotal
$
20.66
$
7.65
$
5.36
$
6.17
$
8.28
$
22.39
Market Conditions
0%
2%
2%
2%
5%
0%
Subtotal
$
20.66
$
7.81
$
5.46
$
6.30
$
8.70
$
22.39
Other Adjustments Location
Median Housing Price:
0%
20%
12%
17%
1%
0%
Primary/Secondary Street:
0%
0%
0%
0%
0%
0%
Physical Characteristics Size:
-25%
2%
-3%
8%
7%
-25%
Shape:
-5%
-5%
-5%
-5%
-5%
-5%
Topography:
0%
0%
0%
0%
0%
0%
Lot Condition:
-25%
0%
0%
0%
0%
-25%
Zoning:
0%
-5%
-5%
-5%
0%
0%
Total Net Adjustments
-55%
12%
-1%
15%
3%
-55%
Total Absolute Adjustments
55%
34%
27%
37%
18%
63%
Value Indication for Subject
$
9.30
$
8.74
$
5.39
$
7.21
$
8.99
$
10.07
No adjustments are warranted.
Property Rights:
All transactions were made on a cash equivalent basis.
Financing Terms:
Comparable #6 is a current listing rather than a closed transaction. As seen in the table below, the typical residential land property sells for +/-8% less than the initial asking price. As a result, we have made a downward adjustment of 8% to the comparable.
Conditions of Sale:
23
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