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Appraisal 2025-01-29 - 122 Florida Park Dr, Palm Coast, FL 32137.pdf
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| Property | 122 Florida Park Dr, Palm Coast, FL 32137 |
|---|---|
| Folder | Appraisal |
| Kind | |
| Updated | 2026-05-30 |
| Dropbox path | 01 - Appraisal/Appraisal 2025-01-29 - 122 Florida Park Dr, Palm Coast, FL 32137.pdf |
What This File Appears To Be
R Fadden Appraisals FHA/VA Case No. 2407282 File # 241108 SUBJECT The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property. Property Address 122 Florida Park Dr City Palm Coast State FL Zip Code 32137 Borrower Yhome Nursing LLC Owner of Public Record Goose Lfty0320 Dao Llc County Flagler Legal Description See attached addenda. Assessor's Parcel # 07-11-31-7007-00220-0110 Tax Year 2
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R Fadden Appraisals FHA/VA Case No. 2407282 File # 241108 SUBJECT The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property. Property Address 122 Florida Park Dr City Palm Coast State FL Zip Code 32137 Borrower Yhome Nursing LLC Owner of Public Record Goose Lfty0320 Dao Llc County Flagler Legal Description See attached addenda. Assessor's Parcel # 07-11-31-7007-00220-0110 Tax Year 2023 R.E. Taxes $ 3,345 Neighborhood Name Palm Harbor Center Ph 01 Map Reference 19660 Census Tract 0601.07 Occupant Owner Tenant Vacant Special Assessments $ 0 PUD HOA $ 0 per year per month Property Rights Appraised Fee Simple Leasehold Other (describe) Assignment Type Purchase Transaction Refinance Transaction Other (describe) Lender/Client Address 777 Yamato Road, Suite 510, Boca Raton, FL 33431 LendingOne, LLC 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 this appraisal? Yes No Report data source(s) used, offering price(s), and date(s). (MLS) According to MLS the subject has not been listed in the past twelve months. CONTRACT I did performed. 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 Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s) Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? If Yes, report the total dollar amount and describe the items to be paid. NEIGHBORHOOD Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics One-Unit Housing Trends Location Urban Built-Up Over 75% Growth Rapid Neighborhood Boundaries Suburban 25-75% Stable Rural Under 25% Slow Property Values Demand/Supply Marketing Time Increasing Shortage Under 3 mths Stable In Balance 3-6 mths Yes One-Unit Housing PRICE $ (000) Declining Over Supply Over 6 mths Present Land Use % AGE (yrs) One-Unit 2-4 Unit Multi-Family Commercial Other 200 Low 1 The neighborhood boundaries are the I-95 to the west, Old Trails Blvd to the 600 High 60 south, Colbert Ln to the east and Fleetwood Dr to the north. 300 Pred. 35 Neighborhood Description The subjects neighborhood consists primarily of single family homes on average residential sites. Area support facilities are located within three miles of the subject. Market Conditions (including support for the above conclusions) No 85 % 3% 5% 7% % See attached addenda . Dimensions 80x125 Area 11250 sf Shape Rectangular Specific Zoning Classification SFR3 Zoning Description Residential Zoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe) Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? Yes View N;Res; No If No, describe See attached SITE addendum Utilities Public Other (describe) Public Other (describe) Off-site Improvements - Type Public Private Street Asphalt Electricity Water Alley None Gas Sanitary Sewer None FEMA Special Flood Hazard Area Yes No FEMA Flood Zone X FEMA Map # 12035C0129E FEMA Map Date 06/06/2018 Are the utilities and off-site improvements typical for the market area? Yes No If No, describe Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe None noted from a visual inspection of the subject and surrounding areas. The appeal and marketability is considered average. IMPROVEMENTS General Description Foundation Exterior Description materials/condition Interior materials/condition Floors Foundation Walls Concrete Slab Crawl Space Units One One with Accessory Unit N/A Slab Tile/Good Walls Exterior Walls Full Basement Partial Basement # of Stories 1 CBS/Average Drywall/Average Trim/Finish Type Det. Att. S-Det./End Unit Basement Area 0 sq.ft. Roof Surface Shingle/Good Wood/Good Bath Floor % Gutters & Downspouts Alum./Good Existing Proposed Under Const. Basement Finish 0 Tile/Good Bath Wainscot Tile./Good Window Type Outside Entry/Exit Sump Pump Design (Style) Ranch Insulated/Good Storm Sash/Insulated N/A Evidence of Infestation Year Built Car Storage None 1985 Screens Dampness Settlement Effective Age (Yrs) 15 Driveway # of Cars Screens/Good 3 Heating FWA Attic None Woodstove(s) # 0 Driveway Surface HWBB Radiant Amenities Concrete Drop Stair Stairs Garage # of Cars Fence Wood Other Fireplace(s) # 0 Fuel Electricity 2 Floor Scuttle Carport # of Cars Porch Screen Patio/Deck Sc.Pat Cooling Central Air Conditioning 0 Finished Heated Att. Det. Built-in Other Cov.Entry Pool None Individual Other Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe) Finished area above grade contains: 7 Rooms 3 Bedrooms 2.0 Bath(s) 1,731 Square Feet of Gross Living Area Above Grade Additional features (special energy efficient items, etc.). The subject has a: covered entry; screened covered porch; screen enclosed patio; two car garage; three bedrooms; two baths; Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). C3;Kitchen-remodeled-less than one year ago;Bathrooms-remodeled-less than one year ago;The interior of the home was remodeled and upgraded. Quartz counter-tops. Tile flooring throughout. Upgraded fixtures. There does not appear to be any significant deferred maintenance on the subject property. This is not to be construed as a home inspection. The inspection took place after the recent hurricane (Milton) in the area. No damage was observed. Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe See attached addenda. Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe Functional utility appears to be acceptable, with adequately sized rooms, ample closet space and an efficient layout. This dwelling appears to fulfill the functional and aesthetic expectations of purchasers in this price range. Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 1 of 6 Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Fannie Mae Form 1004 March 2005 FHA/VA Case No. 2407282 SALES COMPARISON APPROACH File # 241108 There are There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ 269,000 comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ 210,000 FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 Address 122 Florida Park Dr Palm Coast, FL 32137 to $ 369,000 to $ 515,000 COMPARABLE SALE # 3 7 42 Proximity to Subject Sale Price Sale Price/Gross Liv. Area Data Source(s) Verification Source(s) VALUE ADJUSTMENTS Sales or Financing Concessions Date of Sale/Time Location Leasehold/Fee Simple Site View Design (Style) Quality of Construction Actual Age Condition Above Grade Room Count Gross Living Area Basement & Finished Rooms Below Grade Functional Utility Heating/Cooling Energy Efficient Items Garage/Carport Porch/Patio/Deck Porches,Pat, Cont... Pools etc... 89 Forsythe Ln Palm Coast, FL 32137 0.33 miles SW $ $ 23 Freemont Turn Palm Coast, FL 32137 0.43 miles W . . 20 Fordney Pl Palm Coast, FL 32137 0.14 miles SW $ $ $ 340,000 323,000 320,000 $ $ 198.60 sq.ft. 210.70 sq.ft. 172.41 sq.ft. StellarMLS#FC297138;DOM 27 StellarMLS# A4583755;DOM 120 StellarMLS#FC299776;DOM 38 Doc#2852-255/Public Records Doc#2846-987/Public Records Doc#2888-1936/Public Records sq.ft. $ DESCRIPTION DESCRIPTION N;Res; Fee Simple 11250 sf N;Res; DT1;Ranch Q3 39 C3 ArmLth FHA;0 s03/24;c02/24 N;Res; Fee Simple 10377 sf N;Res; DT1;Ranch Q3 36 C3 Total Bdrms. Baths Total Bdrms. Baths 7 6 3 2.0 1,731 sq.ft. 0sf +(-) $ Adjustment 3 2.0 1,712 sq.ft. DESCRIPTION 0 ArmLth Conv;0 0 s02/24;c01/24 N;Res; Fee Simple 0 10000 sf N;Res; DT1;Ranch Q4 0 31 C3 6 3 2.0 1,533 sq.ft. DESCRIPTION 0 0 0 +18,600 0 +18,600 Total Bdrms. Baths 0 +7,920 7 3 2.0 1,856 sq.ft. 0sf 0sf Adequate Central Typical 2ga2dw Entry +1,500 Sc.Porch None Adequate Central Typical 0 2ga2dw Entry +1,500 Sc.Porch None Net Adjustment (Total) + - $ + - $ 1,500 Adjusted Sale Price Net Adj. Net Adj. 0.4 % 7.7 % of Comparables Gross Adj. 0.4 % $ 341,500 Gross Adj. 7.7 % $ I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain +(-) $ Adjustment 0 ArmLth 0 FHA;10000 0 s07/24;c06/24 N;Res; Fee Simple 0 10000 sf N;Res; DT1;Ranch +15,300 Q4 0 31 C4 Total Bdrms. Baths 0 0 0sf Adequate Adequate Central Central Typical Typical 2ga3dw 2ga3dw Entry Entry Sc.Porch,Sc.Pa Sc.Porch None None +(-) $ Adjustment + Net Adj. 347,720 Gross Adj. 24,720 -5,000 0 +1,500 $ 33,700 10.5 % 13.7 % $ - 353,700 My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal. Data Source(s) Public Records My research did did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale. Data Source(s) Public Records/MLS Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3). ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3 Date of Prior Sale/Transfer 03/18/2024 Price of Prior Sale/Transfer $0 Data Source(s) Public Records Public Records Public Records Public Records Effective Date of Data Source(s) 11/08/2024 11/08/2024 11/08/2024 11/08/2024 Analysis of prior sale or transfer history of the subject property and comparable sales Recent prior sales including those within three years for the subject and one year for the comparables if any are listed in the grid above. The prior transfer of the subject was an unqualified quit claim transfer. Summary of Sales Comparison Approach See attached addenda. The GLA was Reported & Meets ANSI Standards Z765-2021 Appraisers are required to use the Square Footage-Method for Calculating: ANSI® Z765-2021 (American National Standards Institute®) Measuring Standard for measuring, calculating, and reporting gross living area (GLA) and non-GLA areas of subject properties for appraisals requiring interior and exterior inspections. The subject was measured to the nearest tenth of a foot. Indicated Value by Sales Comparison Approach $ 350,000 Cost Approach (if developed) $ Income Approach (if developed) $ 350,000 363,034 337,500 The Sales Comparison Approach was considered the most reliable indicator of value. Due to the age of the home the Cost Approach was not considered to be reliable. Due to the limited pool of reliable income data the Income Approach was not developed. RECONCILIATION Indicated Value by: Sales Comparison Approach $ This appraisal is made "as is", subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to the following required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair: Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting conditions,