(Solved): Real-estate Appraisal Main Principles and Methods Case Study Assignment.Investment property located ...

Real-estate Appraisal Main Principles and Methods Case Study Assignment.Investment property located in "Salmiya" area with a plot size of 487.5 square meters, overlooking two internal streets corner location. The building is utilized to the highest and best use and contains a basement, ground floor, 8 typical floors and a roof. Upon inspection, it was found that the effective age of the building is 10 years and the remaining economic life is 25 years. The property has an above average material finishing, and the reproduction cost for buildings is as shown below, with indirect costs of 12% of the total reproduction cost. Similar size property overlooking one street was sold in "Salmiya" last week for (719,000 KD), The estimated difference between one street and a corner location land rate is (100 KD/m^2). subject property units are rented to Families only and the shop is utilized as a restaurant.Building areasReproduction cost (KD/M^2)Apartments area.130Service area75Basement area110Shop and guards quarter105 Please use basic assessment methods to arrive at a fair value for the property as of 03/31/2024. 1. Calculate the total reproduction cost of the existing building for both (direct and indirect) cost.2. Calculate the estimated depreciation rate.3. Calculate the depreciated reproduction cost of the building.4. Apply the comparison method to estimated value of the vacant land.5. Apply the cost method to estimated value of the property (Improvements + Land) cost.6. Monthly economic income for licensed areas only.7. Find the cap rate applied in the area for such property.Apply the income approach method calculate the final value of the propertyAPPRAISAL REPORT \table[[\table[[Applicant],[Owner ID]],,,

,\table[[??? ??????]]],[Location,Block,Plot,Plar,],[Land size,,Effect Age,Eco. R Life]] Improvement Description Date Inspected Property Final value KD Appraised By 0 Sr. R.E. Eng. M. App. Div.