Property Report
Prepared by: [Your Name]
Date: [Date]
I. Property Description
A. Overview
This section provides a comprehensive overview of the property, emphasizing its size, location, and distinctive features. The property, a charming residential home, is well-suited for families seeking a blend of comfort and accessibility in a suburban setting. With modern amenities and a spacious layout, it caters to both relaxation and entertainment needs.
B. Physical Attributes
The property is a well-maintained two-story residential building, boasting 2,500 square feet of living space. It features:
Bedrooms: 4 spacious bedrooms, including a master suite with an en-suite bathroom and walk-in closet.
Bathrooms: 3 full bathrooms equipped with modern fixtures and tasteful finishes.
Basement: A finished basement that serves as a versatile recreational space or home office.
Garage: A two-car garage with additional storage space, accessible from the kitchen for convenience.
C. Location
Situated in the peaceful Green Meadows neighborhood, the property is strategically located within walking distance of:
Schools: Green Meadows Elementary and High School, both highly rated for academic excellence.
Parks: Several local parks, including Green Meadows Park, feature playgrounds, sports facilities, and picnic areas.
Shopping Centers: A variety of shopping options, including grocery stores, cafes, and retail outlets, are just a short drive away.
Transportation: Easy access to major highways (Interstate 95 and Highway 30) facilitates quick commutes to the city center and surrounding areas.
II. Ownership Information
A. Current Ownership
The property is currently owned by Mr. Johann Harvey and Mrs. Lyda Fadel, who acquired it in 2055 for $400,000. They have made significant improvements, including landscaping and interior renovations, enhancing both aesthetic appeal and property value.
B. Ownership History
The property has changed hands three times over the past two decades:
2050: Sold to the first owners for $320,000.
2055: Purchased by the second owners for $360,000.
2060: Acquired by the current owners for $400,000.
No existing liens or disputes have been reported, indicating a clear ownership history.
III. Market Analysis
A. Local Market Trends
The local real estate market has experienced a steady increase in property values over the past five years, primarily driven by demand from young families and professionals seeking quality housing in suburban areas. Recent developments in the neighborhood, including new parks and community facilities, have further boosted property attractiveness.
B. Comparable Properties
Property Address | Size (sq ft) | Price | Sold Date |
|---|
Miami, FL | 2,600 | $450,000 | March 2053 |
San Francisco, CA | 2,300 | $430,000 | January 2054 |
Seattle, WA | 2,550 | $445,000 | February 2055 |
Denver, CO | 2,400 | $420,000 | April 2053 |
These comparable properties showcase a range of prices and sizes, indicating a competitive market where well-maintained homes attract premium offers.
IV. Valuation
A. Current Market Value
The current market value of the property is estimated at $440,000, based on recent sales of comparable properties in the area. This valuation reflects both the physical condition of the property and the desirable location within Green Meadows.
B. Valuation Method
The valuation was determined using a comparative market analysis (CMA) approach. Factors considered include:
Age and Condition: The property is only eight years old and has been regularly maintained.
Recent Sale Prices: Prices of similar properties sold within the last six months.
Market Demand: An increasing interest in suburban living contributes to higher valuations.
V. Legal Information
A. Zoning
The property is zoned for residential use, permitting single-family dwellings. Specific restrictions apply to auxiliary structures, such as limitations on the size of sheds or the height of fences, ensuring that the neighborhood maintains its aesthetic appeal.
B. Encumbrances
Liens and Mortgages: No outstanding liens or mortgages were found on the property.
Legal Status: There are no known legal disputes or pending lawsuits affecting the property, contributing to its secure investment potential.
VI. Physical Condition
A. Structural Condition
A recent inspection conducted in August 2054 reports that the structural integrity of the property is sound. Key findings include:
No major defects were found in the foundation, roof, or load-bearing walls.
The roof is in good condition, having been replaced in 2051.
B. Maintenance and Repairs
Exterior Updates: The exterior paint was refreshed in 2051, enhancing curb appeal.
HVAC System: The HVAC system was serviced in 2053, ensuring efficient heating and cooling.
Plumbing: Minor plumbing repairs were completed in the kitchen and bathrooms in 2054, addressing common wear and tear.
VII. Photographs
Below are photographs illustrating key areas of the property, showcasing the interior and exterior aspects:
Front View: Captures the charming façade and well-maintained landscaping.
Living Room: Highlights spaciousness, natural light, and modern décor.
Kitchen: Displays updated appliances, cabinetry, and an inviting breakfast nook.
Master Suite: Features a large bedroom space with an en-suite bathroom.
Backyard: Shows a private yard with patio space, perfect for outdoor entertaining.
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