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Small Residential Income Property Appraisal Report (Freddie Mac Form 72)

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Header 76%
SMALL RESIDENTIAL INCOME PROPERY APPRAISAL REPORT
paragraph 84%
Zip Code 62704
paragraph 76%
Property Address Willowbrook Lane 1487_____________________________________
paragraph 76%
Legal Description 12, Block 3, Willowbrook Estates Subdivision Lot____________________________________________________________County Sangamon___________________________
paragraph 74%
Assessor’s Parcel No. 14-22-301-012______________________Tax Year 2025_______ R.E. Taxes $ 6,850___________ Special Assessments $
paragraph 78%
Tax Year
paragraph 83%
Neighborhood or Project Name Estates Willowbrook_____________________________ Map Reference 22-14N-4W____________ Census Tract 0012.00________________
paragraph 73%
Borrower Robert Ashford
paragraph 71%
Property rights appraised
paragraph 65%
Sales Price $ 285,000
☑ checked 70%
Property rights appraised 4 ❐ Fee Simple ❐ Leasehold Project Type ❐ PUD ❐ Condominium HOA$__________ /mo
paragraph 50%
Date of Sale
paragraph 77%
Lender/Client Heritage National Bank
paragraph 70%
Appraiser Nathan Reyes, Certified Residential Appraiser
paragraph 76%
Location
paragraph 73%
Built up
paragraph 77%
Growth rate
paragraph 79%
Property Values
paragraph 83%
Demand/Supply
paragraph 85%
Marketing time
☐ unchecked 83%
❐ Urban
☐ unchecked 84%
❐ Over 75%
☐ unchecked 83%
❐ Rapid
☐ unchecked 82%
❐ Increasing
☐ unchecked 82%
❐ Shortage
☐ unchecked 79%
❐ Under 3 mos.
paragraph 76%
Typical 2-4 family bldg. Present land use % Land use change
paragraph 68%
Typical rent $ 950 ________ 4 ❐ Stable ❐ Declining One family ❐ Likely
paragraph 68%
Est. neighborhood apt. vacancy 4____ % ❐ Declining 2-4 family ❐ In process to:
paragraph 52%
Rent controls □ Yes
☐ unchecked 79%
□ Likely
paragraph 89%
City Springfield
paragraph 74%
R.E. Taxes $ 6,850
paragraph 83%
Map Reference 22-14N-4W
paragraph 83%
Borrower Ashford Robert____________________________ Current Owner Ashford Robert________________________ Occupant ❐ Owner ❐ Vacant
☐ unchecked 82%
□ Leasehold
☑ checked 66%
Project Type
paragraph 86%
StateIL
paragraph 83%
County Sangamon
paragraph 83%
Special Assessments $ 0
paragraph 77%
Census Tract 0012.00
paragraph 77%
Occupant
☐ unchecked 80%
Condominium
☐ unchecked 78%
PUD
☐ unchecked 81%
Owner
paragraph 67%
HOAS
paragraph 78%
Sales Price $ 285,000_______ Date of Sale Description and $ amount of loan charges/concessions to be paid by seller N/A__________
paragraph 76%
Lender/Client National Bank Heritage_______________________________ Address Financial Plaza, Springfield, IL 62701 500___________________________________________________________
paragraph 80%
Nathan Reyes, Certified Residential Appraiser___________________________________ Address Oak Grove Drive, Springfield, IL 62702 1200___________________________________________________________
paragraph 60%
Single Family
paragraph 67%
Occupancy $(000) Occupancy $(000) (yrs)
☐ unchecked 84%
Owner
☐ unchecked 82%
Tenant
☐ unchecked 85%
❐ Vacant (0-5%) Predominant ❐ Vacant (0-5%) Predominant
☐ unchecked 55%
❐ Vacant (over 5%) ❐ Vacant (over 5%)
☐ unchecked 75%
Declining
☐ unchecked 70%
Declining
paragraph 76%
Rent controls ❐ Yes ❐ Likely If yes or likely, describe____________ Multi family _____
paragraph 80%
Note: Race and the racial composition of the neighborhood are not appraisal factors
paragraph 66%
Neighborhood boundaries and characteristics:
paragraph 79%
Proximity to employment centers in downtown Springfield (10 minutes), grocery, schools, and public transportation supports steady rental demand and _____________________________________________________________________________________________________________ Employment base is stable, anchored by state government, healthcare, and higher education employers. _____________________________________________________________________________________________________________
paragraph 76%
Factors that affect the marketability of the properties in the neighborhood (proximity to employment and amenities, employment stability, appeal to market, etc.): __________________________________________________________________________________________
paragraph 91%
competing listings within the immediate subject neighborhood were found to be materially superior or inferior; market conditions have been stable with No_____________________________________________________________________________________________________________ The following available listings represent the most current, similar, and proximate competitive properties to the subject property in the subject neighborhood. This analysis is intended to evaluate the inventory currently on the market competing with the subject property in the subject neighborhood and recent price and marketing time trends affecting the subject property. (Listings outside the subject neighborhood are not considered applicable) The listing comparables can be the rental or sale comparables if they are currently for sale.
paragraph 86%
Comparison of listings to subject propert:
paragraph 94%
Market conditions that affect 2-4 family properties in the subject neighborhood (including the above neighborhood indicators of growth rate, property values, demand/supply, and marketing time) and the prevalence and impact in the subject market area regarding loan discounts, interest buydowns and concessions, and identification of trends in listing prices, average days on market and any change over past year, etc.: _________________________________________________________________________________________________
paragraph 80%
150' x 200' irregular Dimensions____________________________________________________________________ Level Topography________________________________
paragraph 66%
Site area acres (30,000 sq. ft.) 0.69______________________________________________________________________ Size for area Typical______________________________________
paragraph 53%
ft.)
paragraph 73%
Specific zoning classification and description Two-Family Residential R-2,_________________________________________ Shape Rectangular____________________________________
paragraph 50%
Zoning compliance 4 ❐ Legal ❐ Legal nonconforming (Grandfathered use) ❐ Illegal ❐ No zoning Drainage adequate Appears__________________________________
paragraph 72%
Highest & best use as improved: 4 ❐ Present use ❐ Other use (explain) Residential View_________________________________
paragraph 60%
Utilities
paragraph 51%
Gas
☑ checked 55%
Sanitary sewer 4 ❐ Street lights Overhead_______________ 4 ❐ ❐Fema Map 17167C0210F No._________________________
paragraph 51%
Storm sewer 4 ❐
☐ unchecked 76%
Other use (explain)
paragraph 62%
Present use
paragraph 59%
Other
paragraph 80%
Off-site improvements
paragraph 72%
Street Asphalt paved
paragraph 68%
Gas Curb/gutter Concrete________________
paragraph 65%
Sidewalk
paragraph 75%
Street lights Overhead
paragraph 76%
Alley None
paragraph 78%
Comments (apparent adverse easements, encroashments, special assessments, slide areas, illegal or legal nonconforming zoning, use, etc): adverse easements or encroachments noted. Zoning conforms to current use. No_________________________________________________________________________________________________________
paragraph 100%
_____________________________________________________________________________________________________________
paragraph 73%
Type
paragraph 68%
Public
paragraph 84%
TopographyLevel
paragraph 80%
Size Typical for area
paragraph 76%
Shape Rectangular
paragraph 80%
Drainage Appears adequate
paragraph 78%
View Residential
paragraph 78%
Landscaping mature trees Typical,__________________________
paragraph 80%
Utilities Public Other Off-site improvements Type Public Private Driveway shared 2-car Asphalt,_____________________________
paragraph 74%
Street paved Asphalt____________________ ❐Apparent easements utility easements along Standard____________________
paragraph 63%
Fema Zone X
paragraph 74%
Fema Map No. 17167C0210F
paragraph 62%
Map Date
paragraph 79%
Predominant Single family housing Predominant 2-4 family housing
paragraph 53%
Age
paragraph 77%
Predominant
☑ checked 70%
2-4 Family
paragraph 65%
Occupancy
☑ checked 82%
❐ Owner 4 ❐ Owner
☐ unchecked 80%
Tenant
☐ unchecked 84%
Vacant (0-5%)
☐ unchecked 84%
Vacant over 5%
paragraph 76%
Present land use %
paragraph 57%
One family
paragraph 60%
2-4 family
paragraph 52%
Multi family
paragraph 61%
to the south, and Commercial
paragraph 67%
Land use change
☐ unchecked 60%
Likely
☐ unchecked 79%
In process to:
☑ checked 86%
4 ❐ Suburban
☑ checked 81%
4 ❐ 25-75%
☑ checked 84%
4 ❐ Stable
☑ checked 82%
4 ❐ Stable
☑ checked 84%
4 ❐ In balance
☑ checked 80%
4 ❐ 3-6 mos.
☐ unchecked 75%
❐ Rural
☐ unchecked 84%
❐ Under 25%
☐ unchecked 77%
❐ Slow
☐ unchecked 83%
❐ Over supply
☐ unchecked 83%
❐ Over 6 mos.
☑ checked 61%
Stable
paragraph 68%
2025
Header 79%
SUBJECT
Header 81%
NEIGHBORHOOD
☐ unchecked 77%
Vacant
paragraph 57%
/mo
paragraph 71%
2-4 family housing
paragraph 64%
Price
paragraph 59%
$(000)
paragraph 56%
Age
paragraph 50%
(yrs)
paragraph 52%
High 50
☐ unchecked 59%
Predominant
paragraph 57%
$(000)
paragraph 65%
❐ Tenant 260_____ High 45_____ ❐ Tenant High 50_____
☐ unchecked 51%
Predominant
paragraph 100%
typical
paragraph 100%
lot
paragraph 68%
Public
paragraph 55%
Sidewalk 4 ❐ ❐Fema Zone Map Date
paragraph 51%
☑
paragraph 65%
Private
footer 78%
Freddie Mac Form 72 Page 1 Fannie Mae Form 1025
footer 87%
National Association of Real Estate Appraisers
footer 92%
Page 1
footer 90%
Fannie Mae Form 1025