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SUMMARY APPRAISAL REPORT <br />Uniform Residential Appraisal Report <br />File # 45110 <br />The purpose of this summary appraisal report is to provide the lendedclient with an accurate, and adequately supported, opinion of the market value of the subject property. <br />S <br />U <br />B <br />E <br />C <br />T <br />ProPertyAddress 4740 58TH AV city VERO BEACH State FL ZipCode32967 <br />Borrower N/A Owner of Public Record BROWN,PAULETTE CountyINDIAN RIVER <br />Legal Description INDIAN RIVER FARMS CO SUB PBS 2-12 N 145.95 FT OF W 323.46 FT OF N -11,0.1 A OF S 21.01 A OF TR 12, LESS RNJ (OR BK 707 PP 3019) <br />Assesso s Parcel # 32-39-21-00001-0120-00003.1 Tax Year 2017 R.E. Texos $ 1,438 <br />Neighborhood Name NORTHWEST VERO BEACH MapReference3I�2-39-21 CensusTrect0503.02 <br />Occupant I X I Owner I Tenant I 1 Vacant Special Assessments $ I I PUD HOA S I I per year I I per month <br />Property Rights Appraised X 1 Fee Simple J Leasehold I LOther (describe) <br />ril <br />Assignment Type ( I Purchase Transaction I Refinance Transaction I Xi Other (describe) ASSET ANALYSIS <br />Lender/Client INDIAN RIVER COUNTY Address 1840 25TH ST, VERO BEACH, FL 32960 <br />Is the subject property currently offered for sale or has it been offered for sale In the twelve months prior to the effective date of the appraisal? I 1 Yes I X I No <br />Report data sources) used, offering price(s), and date(s). MLS - <br />Operformed. <br />N <br />T <br />R <br />A <br />C <br />T <br />I IJ did I I did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not <br />Contract Prices Date of Contract Is the property seller the owner of public record? 1 1 Yes I 1 No Data Source(s) <br />Is there any financial assistance (ban charges, sale concessions, gilt or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? ❑ Yes u No <br />If Yes, report the total dollar amount and describe the items to be paid: <br />N <br />E <br />I <br />G <br />B <br />0 <br />R <br />H <br />0 <br />o <br />Note: Race and the racial composition of the neighborhood are not appraisal factors. <br />Neighborhood Characteristics <br />One -Unit Housln• Trends <br />One -Unit Housing <br />Percent Land Use % <br />Location <br />Urban <br />X <br />Suburban <br />Rural <br />Property Values <br />X <br />Increasing <br />Stable <br />Declining <br />PRICE AGE <br />One -Unit 80 % <br />Buitt-Up <br />X Over 75% <br />25-75% <br />Under25% <br />Demand/Supply <br />Shortage <br />X <br />InBalance <br />Oversupply <br />9(000 (yrs) <br />2-4 Unit % <br />Growth <br />Rapid <br />X <br />Stable <br />Slow <br />Marketing Time <br />X_ <br />Under 3 mtht <br />3.6 mthss <br />Over6mths <br />100 Low 2 <br />Multi -Family % <br />Neighborhood Boundaries BEYOND AND NEAR 58TH AVENUE TO THE WEST. 20TH STREET TO THE SOUTH, 27TH AVENUE <br />375 High 60 <br />Commercial % <br />TO THE EAST AND 33RD STREET TO THE NORTH. N <br />210 Pred. 35 <br />Other 20 % <br />Neighborhood Description SUBJECT NEIGHBORHOOD IS LOCATED NORTH & WEST OF VERO BEACH . HOMES ARE TYPICALLY <br />OF AVERAGE CONSTRUCTION WITH NEWER HOMES OF BETTER QUALITY. LEVELS OF MAINTENANCE AND UPKEEP ARE <br />CONSIDERED AVERAGE TO GOOD. "' SEE ADDITIONAL COMMENTS "' <br />Market Conditions (including support for the above conclusions) THE MARKET OVER THE PAST DECADE HAD BEEN DOMINATED BY <br />THE GREAT RECESSION, A BUST PERIOD THAT FOLLOWED HOUSING BOOM PERIOD OF THE MID 2000'S. "' SEE <br />ADDITIONAL COMMENTS "' <br />S <br />I <br />T <br />E <br />Dimensions 146.07Fx293.46LSx146.07Rx293.46RS Area 42866 sf Shape RECTANGULAR Mew A:TRAFFIC: <br />specific Zoning ClassificatiorRS-3, SINGLE FAMILY RES Zoning Description SINGLE FAMILY <br />Zoning Compliance FX 1 Legal J 1 Legal Nonconforming (Grandfathered Use) n No Zoning 1 I Illegal (describe) <br />Is the highest and best use of the subject property as improved(or as proposed per plans end apeclfcallons)the present use? 1 X I Yes 1 1 No If No, describe <br />Utilities Public Other (describe) Public Other (describe) Off-site Improvements—TypePublic Private <br />Electricity <br />Xi <br />Water <br />X <br />Street ASPHALT <br />X <br />Gas <br />^ NONE Sanitary Sewer <br />X <br />SEPTIC may NONE <br />FEMA Special Flood Hazard Area I—I Yes 1 X 1 N FEMA Flood Zone ZONE X FEMA Map No.1 2061CO239H FEMA Map Datel2/04/2012 <br />Are the utilities and off-site Improvements typical for the market area? 1 X 1 Yes I 1 No. If No, describe <br />Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? I 1 Yes 1 X 1 No If Yes, describe <br />SUBJECT FRONTS ON THE EAST SIDE OF 58TH AVENUE (4 LANE) WHICH IS A NEIGHBORHOOD ARTERIAL THAT <br />CARRIES LARGER VOLUME OF TRAFFIC. FOR RESIDENTIAL USE, TRAFFIC EXPOSURE IS A NEGATIVE INFLUENCE. <br />1 <br />M, <br />0 <br />V <br />E <br />E <br />N <br />T <br />S <br />General Description <br />Foundation <br />Exterior Description materials/condition <br />Interior materials/condition <br />Units X 1 One 1 IOne with Accessory Unit <br />X <br />Concrete Slab <br />Crawl Space <br />Foundation waits CONCRETE AVG <br />Floors TL/WD AVG+ <br /># of Stories 1.00 <br />Full Basement <br />_ Partial Basemen <br />Exterior Walls FR AL V S AVG <br />Walls DRWL/WD AV <br />Typo 1 X 1 Det. 1 IAtt.I I S-DetEnd Unit <br />Basement Area 0 sq. 5. <br />Roof Surface ASPHALT SHGL AVG <br />Trim/Finish AVG/AVG <br />X1 Existing! 1 Proposed 1 Under Const <br />Basement Finish 0 % <br />Gutters & Downspouts YES AVG <br />Bath Floor TIL AV <br />Design (Style) RANCH <br />I 1 Outside Entry/Exit 1 J Sump Pump <br />Window Type SH ALM AVG <br />Bath Wainscot Tl1L AVG <br />Year Bunt 1990 <br />Evidence of I I Infestation <br />Storm Sash/insulated NONE <br />Car Storage 1 I None <br />Effective Age (Yrs) <br />8 <br />1 I Dampness I I Settlement <br />Screens PAR IAL AVG <br />X Driveway # of Cars 6 <br />Attic <br />None <br />Heating I X 1 FWA 1 1 HWBBI 1 Radiant <br />Amenities <br />WoodStove(e)# 0 <br />Driveway Surface COIN <br />Drop Stair <br />Stairs <br />I 1Other 1 Fuel EL EC <br />X <br />Fireplace(s)#1 <br />Fence NONE <br />X <br />Garage #of Cars 2 <br />Floor <br />X Scuttle <br />Coding I I Central Air Conditioning <br />X <br />Patio/DOckD ECK <br />X <br />Porcb REC <br />Carport # of Cars 0 <br />Finished <br />, Heated <br />1 X 1 Individual I <br />1 Other <br />Pool NONE,Other <br />NONE <br />X <br />Att. 1 1 Det. 1 1 Built-in <br />Appliances' X 1 Refrigerator I X I Range/Ovenl X I Dishwasherl <br />Disposal' 1 Microwave) 1 Washer/Dryer I 1 Other (describe) <br />Finished area above grade contains: 8 Rooms 4 Bedrooms 3.0 Bath(s) 2,090 Square Feet of Gross Living Area Above Grade <br />Additional features (special energy efficient nems, etc.) SUBJECT IS AVERAGE QUALITY HOME WITH TWO CAR GARAGE. FLORIDA <br />ROOM AREA HAS WALL A/C AND USED FOR RECREATION. <br />Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). C3;Kitchen-updated-one to five years <br />aoo:Bathrooms-updated-one to five years aqo;SUBJECT HOME IS AVERAGE QUALITY WITH A FUNCTIONAL FLOOR PLAN <br />AND UPDATING IMPROVEMENTS MADE IN THE PAST IN BATHROOMS AND KITCHEN <br />Aro there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? 1 1 Yes 1 X I No If Yes, describe <br />Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? 1 xl Yes 1 I No If No, describe <br />Freddie Mac Form 70 March 2005 <br />UAD Version 9/2011 <br />Page 1 of 6 <br />Fannie Mae Form tf]OrMarch 2005 <br />Page 1 of 21 <br />