2023-01-08 Hofts Alexander and Jason-AppraisalAPPRAISAL REPORT
•'
CITY OF
BLAIR, NEBRASIKA
RE:
HOLLOW ROAD PROJECT
ALEXANDER HOFTS & JASON HOFTS
2374 HOLLOW ROAD
BLAIR, NEBRASKA
MIX
RUSS NELSEN
NELSEN APPRAISAL SERVICES, INC
710 South 19"' Street
Blair, NE 68008
SUMMARY OF SALIENT FACTS
Property
Size
Location
Date of Appraisal
Property Rights
Improvements
Estimate of Value of Taking
TAX LOT 224
Total Lot Size—19,166 SF
Taking — 3,485 SF
2374 Hollow Road, Blair, Nebraska
January 8, 2023
Fee Simple
One -Story House
$10,455
1 I Page
EFFECTIVE DATE OF THE APPRAISAL
The effective date of this appraisal is January 8, 2023.
DATE OF INSPECTION
The date of inspection is January 8, 2023.
PURPOSE OF APPRAISAL
The purpose of this appraisal is to establish an accurate and defensible market value of the part
being taken. This estimate will be of fee simple title of the subject property. This appraisal is of the
part taken only. Per client instruction, an appraisal of the entire property was not made.
PROPERTY RIGHTS APPRAISED
The property rights appraised are the fee simple title to the land and improvements which
comprise the subject property.
DEFINITION OF FEE SIMPLE
An absolute fee; a fee without limitations to any particular class of heirs or restrictions, but
subject to the limitations of eminent domain, escheat, police power, and taxation. An inheritable
estate.
Source: Byrl N. Boyce, Real Estate Appraisal Terminology - Revised Edition (Ballinger Publishing
Company, Cambridge, Massachusetts, First Printing 1981), p. 102.
2 1 Page
IMPROVEMENTS
The lot that includes a partial taking includes a one-story house.
LEVEL OF INSPECTION
This appraiser inspected the subject lot and the comparable sales. No inspection was made
of the improvements on the lot, I met with the lot owner on January 8, 2023.
It is unknown if any trees are to be removed. If that is the case, the owners to be
compensated per value of the trees.
SUBJECT LOT
The subject has a total of 18,295 SF. The lot is nearly street level.
PROPOSED TAKING
The proposed taking is a 33' wide strip of land adjacent to the north side of Hollow Road
that runs the width of the lot. The total taking contains .08 Acre or 3,485 SF.
ESTIMATED VALUE OF TAKING
The following sales taken from the master report are used to establish the estimated value of
the taking.
Sale #1
Size
8,935 SF
Price/SF
$4.70/SF
Sale #2
Size
24,887 SF
Price/SF
$3.21/SF
Sale #3
Size
9,081 SF
Price/SF
$4.74/SF
Sale 44
Size
14,736 SF
Price/SF
$3.06/SF
Sale #7
Size
11,250 SF
Price/SF
$2.22/SF
3 1 Page
The foregoing comparable sales range in size from a low of 8,935 SF to a high of 24,887 SF
with an arithmetic average of 13,778 SF.
They also range in price per square foot from a low of $2.22/SF to a high of $4.74/SF with
an aritlunetic average of $3.59/SF.
Placing most weight on comparable sales #2, #4, and #7, the subject has a called value of
$3.00/SF.
Value of Subject Taking: 3,485 SF @ $3.00/SF = $10,455
Value Called $10,455
Damage to remainder called = $0
Total Value of Taking = $10,455
Russ Nelsen,
Certified Appraiser
Nelsen Appraisal Services, Inc.
4 1 Page
ADDENDUM
12/7/2022
ParcellD:
890041146
Map Number
890041146
State Geo Code
2371-14-0-02371-000-1146
Cadastral #
TL224
Photo #1 Photo #2 Photo #3 Photo #4 Photo #5 Sketch #1
Images
Current Owner:
HOFTS, ALEXANDER & HOFTS, JASON
2374 HOLLOW RD
BLAIR, NE 68008
Situs Address:
2374 HOLLOW RD BLAIR
Tax District:
208
School District:
BLAIR SCHOOL 1, 89-0001
Account Tyke.
Residential
Legal Description:
14 18 11 BC TL 224 14-18-11 114 PC 11
Lot Width:
N/A
Lot Depth:
N/A
Total Lot Size:
19166.40 sq ft
Year
Total'
2022
$135,525
2021
$127,350
Yearly Tax Information
Year Amount Levy
2022 $2,499.44 1.950857
id Outbuilding Dwelling
$26,040 $0 $109,485
$26,040 $0 $101,310
Description Rate
CO HIST SOCIETY 0.00279100
JAIL BOND FUND 0.01780300
BLAIR CITY 0.33748300
ESU 3
0.01500000
METRO TECH
0.09500000
BLAIR SCHOOL 1
0.99000000
NRD
0.03475800
COUNTY GENERAL
0.33479100
COUNTY AG
0.00355400
BLAIR SCHOOL 1 BOND
0,08759100
BLAIR AIRPORT
0.02858800
PUBLIC SAFETY COMMUN
0.00349800
1 890041146
12/7/2022 9 Works
Property Classification
Status: Improved Location: Urban
Property Class: Residential City Size: 5,001-12,000
Zoning: N/A Lot Size. 10,000-20,000 sq. ft.
Land Information
Lot Width (ft) Lot Depth (ft) Description Lot Size
0.00 0.00 19166.40 sq ft
Zon�ina:
N/A
Condition:
Average
Year Built:
1940
Style:
100% One Story
Exterior:
100% Frame, Siding, Vinyl
Bathrooms:
1.00
Bedrooms:
2
Heating/Cooling:
100% Warmed & Cooled Air
Plumbing Fixtures:
5
Min Finish:
0 sq. ft
Basement Size:
960 sq. ft
Part Finish:
768 sq. ft
Building Size:
960 sq. ft
Garage 1:
Attached Garage(SF)
Quality:
Fair +
Garage 1 Size:
1232 sq. ft
Description
Units
Value
Wood Deck with Roof
480
$13,620
Wood Deck
60
$2,025
Wood Deck with Roof
120
$4,825
Yard Shed
200
$4,055
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TAX LOT 224 ROW AQUISITION
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SOUTH LINE OF TAX LOT 2241
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SEC. 14-TI8N-RlIE
THE SOUTH 33.00 FEET OF TAX LOT 224, LOCATED IN THE
NORTHEAST QUARTER OF THE SOUTHWEST QUARTER OF
SECTION 14 TOWNSHIP 10 NORTH, RANGE i 1 EAST, OF THE
6TH PRINCIPAL MERIDIAN, WASHINGTON COUNTY, NEBRASKA.
CONTAINING 0.08 ACRES, MORE OR LESS,
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3 of 14 12/6/2022, 3:00 PM
TL 224