25-002273.pdf

Matthew McCamman, Petitioner V City Of Kalamazoo, Respondent · 25-002273-TT

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Page 1

Acura Valuation, Inc. 

Real Estate Appraisers 

9500059303 

File No. 46921879-46921880 

APPRAISAL OF 

DUPLEX INCOME PROPERTY 

LOCATED AT: 

223 W Dutton St 

Kalamazoo, MI 49007-5112 

FOR: 

Consumers Credit Union 

7200 Elm Valley Drive 

Kalamazoo, MI, 49009 

BORROWER: 

Matthew McCamman 

AS OF: 

March 3, 2023 

BY: 

Robert L. Mulder 

State Licensed Appraiser 

709 Lodge Lane, Kalamazoo, MI 49009

Page 2

Acura Valuation, Inc. 

Small Residential Income Property Appraisal Report 

9500059303 

File No. 46921879-46921880 

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 223 W Dutton St 

city Kalamazoo 

State Ml 

Zip Code 49007-5112 

Borrower Matthew McCamman 

Owner of Public Record WDH LLC 

County Kalamazoo 

Legal Description Bleykers Addition E 37ft of Lot 95 

Assessor's Parcel # 06-22-153-001 

Tax Year 2022 

RE. Taxes § 3,587 

Map Reference Kalamazoo County 

Census Tract 0006.00 

I Neighborhood Name City of Kalamazoo 

[TT] Occupant 

[J owner 

[BE nant 

Vacant 

Special Assessments $§ 0 

[Jrup 

HOAS 0 

[Jperyear [Jper month 

Property Rights Appraised 

ee Simple 

[] Leasehold 

[] Other (describe) 

2 Assignment Type 

Purchase Transaction 

[] Refinance Transaction 

[] Other (describe) 

Lender/Client Consumers Credit Union 

Address 7200 Elm Valley Drive, Kalamazoo, MI 49009 

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). 

SWMRIC .. MLS#22051581 

.. List date December 29, 2022 

.. List price of $140,000 

| 

did J 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 performed. 

See Attached Addendum 

| Contract Price $ 130,000 

Date of Contract 02/15/2023 

Is the property seller the owner of public record? 

[Ives 

No 

Data Source(s) City records 

J Yes 

4 

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? 

o 

4 

s 

If Yes, report the total dollar amount and describe the items to be paid. 

$0 

No financial assistance 

Note: Race and the racial composition of the neighborhood are not appraisal factors. 

Neighborhood Characteristics 

2-4 Unit Housing Trends 

2-4 Unit Housing 

Present Land Use % 

Location 

Urban 

[0] Suburban 

[] Rural 

Property Values J Increasing 

Stable 

J Declining 

PRICE 

AGE 

One-Unit 

60 % 

Buit-Up 

[XJover75% [ J25-75% 

[ JUnder25% | Demand/Supply 

[ J Shortage 

In Balance [J Over Supply | 

$(000) 

(yrs) 

| 2-4 Unit 

29% 

i 

Growth 

J Rapid 

Stable 

J Slow 

Marketing Time 

J Under 3 mths 

3-6 mths 

J Over 6 mths 

40 Low 

20 | Multi-Family 

2% 

8] Neighborhood Boundaries Kalamazoo Ave to the North, Oakland Dr to the West, Howard St to the 

350 High 

120 | Commercial 

21% 

South and Portage Road to the East. 

149 Pred. 

100 | Other Vacant 

15 % 

%{ 

Neighborhood Description 

The subject is located in the City of Kalamazoo, just south of the Central Business District, close to Kalamazoo 

5] College and Western Michigan University. Area housing is a mixture of residential styles and ages. The area is located with in 10-15 

minutes of area shopping and employment centers. Kalamazoo School District buildings are located with in three mile radius of the 

subject. 2-4 Unit Housing criteria; 

1 mile radius; Duplex 

Market Conditions (including support for the above conclusions) 

Seller financing is generally found in closing cost and prepaid assistance for the buyer. 

MLS records indicate an average market time of 30 - 120 days, which 

is considered a reasonable exposure time for the subject if priced 

correctly. 

Dimensions 35.8 x 165.36 

Area 5920 Sq.Ft. 

shape Rectangle 

View N;Res; 

Specific Zoning Classification RM-36 

Zoning Description Multi Family Residential District 

Zoning Compliance 

Legal 

J Legal Nonconforming (Grandfathered Use) 

J No Zoning 

J lllegal (describe) 

Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? 

es J No 

 IfNo, describe. See Attached 

Addendum 

MW utilities 

Public 

Other (describe) 

lic 

Other (describe) 

Off-site Improvements—Type 

Public 

Private 

[= Electricity 

Water 

Street Asphalt 

J 

Gas 

J 

Sanitary Sewer 

[] 

Alley 

[ll] 

[] 

FEMA Special Flood Hazard Area 

J Yes 

No 

FEMA Flood Zone X 

FEMAMap# 

26077C0187D 

FEMA Map Date 02/17/2010 

Are the utilities and off-site improvements typical for the market area? 

Yes J No 

If No, describe. 

Are there any adverse site conditions or extemal factors (easements, encroachments, environmental conditions, land uses, etc.)? 

J Yes 

o 

If Yes, describe. 

Some utilities 

were in working order at the time of inspection because of ongoing construction 

.. Site has public water and sewer .. The proximity to 

commercial use properties does not affect the appeal or marketability of the subject because of other residential homes 

GENERAL DESCRIPTION 

FOUNDATION 

EXTERIOR DESCRIPTION 

 materials/condition | INTERIOR 

materials/condition 

Units 

Two 

[] Three 

J Four 

J Concrete Slab 

rawl Space 

Foundation Walls 

ConcBlock/Avg. 

Floors 

Cpt-Wd-TI/Avg 

[0] Accessory Unit (describe below) 

J Full Basement 

artial Basement 

| Exterior Walls 

Wood/Average 

Walls 

Plaster-Panel/A 

# of Stories 2 

# of bldgs. 

1 

Basement Area 

964 sq. 

ft. | Roof Surface 

AsphShgle/Avg. 

Trim/Finish _ Wood/Paint/Avg. 

Type 

Det. 

J At. 

J S-Det./End Unit| Basement Finish 

0 % | Gutters & Downspouts Aluminium/Avg. 

Bath Floor 

Vinyl-Tile/Avg 

Existing 

[] Proposed 

J Under Const. 

J Outside Entry/Exit 

J Sump Pump 

| Window Type 

DoubleHung/Avg. | BathWainscot Tile/Average 

Design (Style) Traditional 

Evidence of J Infestation 

Storm Sash/Insulated AlumComb/Avg. 

CarStorage 

Year Built 1916 

[ Dampness 

[ Settlement 

Screens 

Yes/Half/Average 

Effective Age (Yrs) 40 

Heating/Cooling 

Amenities 

[ll] Driveway 

 #of Cars 

Attic 

None 

FWA 

OJ HWBB 

J Radiant 

Fireplace(s) # 

1 

J WoodStove(s)#0 

| Driveway Surface 

J Drop Stair 

J Stairs 

J Other 

[ Fuel Gas 

J Patio/Deck None J Fence None 

J Garage 

# of Cars 

® J Floor 

J Scuttle 

J Central Air 

Conditioning 

J Pool None 

Porch Enclosed J Carport 

# of Cars 

bE [J Finished 

[Heated 

[Jother None 

[ 

Jat. 

[ 

Joet. 

[ 

JBuitin 

= 

# of Appliances 

| Refrigerator 

2 

I Range/Oven 

2 

I Dishwasher 

I Disposal 

I Microwave 

I Washer/Dryer 

1/1 

I Other (describe) 

Unit 

# 1 contains: 

4 Rooms 

1 Bedroom(s) 

1.0 Bath(s) 

1,050 Square feet of Gross Living Area 

Unit # 2 contains: 

5 Rooms 

2 Bedroom(s) 

1.0 Bath(s) 

1,398 square feet of Gross Living Area 

Unit 

# 3 contains: 

Rooms 

Bedroom(s) 

Bath(s) 

Square feet of Gross Living Area 

Unit #4 contains: 

Rooms 

Bedroom(s) 

Bath(s) 

Square feet of Gross Living Area 

Additional features (special energy efficient items, etc.). 

Upper level unit finished 3rd floor .. Fireplace in the lower level unit not sure whether in working order .. Basement has outside access 

Separate furnaces for each level 

.. Enclosed front porches 

.. Plenty of parking for tenants 

.. 

for Upper level unit and lower level has stairs for access. 

Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). 

than 10 years old per seller disclosure form), electricity was on but unable to verify that all outlets / light switches were in working order 

C4; At time of inspection; Furnaces were working (less 

because of the lack of light bulbs and remodeling that is on going 

.. Appraiser was not provided any expense or income information for 

this report but there was a copy of the new lease and City of Kalamazoo compliance report for the property 

.. The sale contract is 

subject to owner providing a city rental certificate for the lower unit, which was under construction at time of inspection. 

Freddie Mac Form 72 March 2005 

Produced using ACI software, 800.234.8727 www. aciweb.com 

Page 107 

Fannie Mae Form 1025 March 2006 

1025_05090909

Page 3

Acura Valuation, Inc.

9500059303

Small Residential Income Property Appraisal Report

File No. 46921879-46921880

Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property?

J Yes

If Yes, describe While no

adverse conditions appear

to exist that would affect livability, soundness or structural integrity were noted, such items are generally

I= beyond the expertise of the appraiser. See limiting condition #5 and comments on page three related to appraiser's definition of

I) "complete visual inspection." Please note condition paragraph concerning current condition.

u Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)?

Yes J No

If No, describe

Functional utility is

2 acceptable, with adequately sized rooms, ample closet space and an efficient layout.

Is the property subject to rent control?

J Yes J No

If Yes, describe

The following properties represent the most current, similar, and proximate comparable rental properties to the subject property. This analysis is intended to support the opinion of the

market rent for the subject property.

FEATURE

SUBJECT

COMPARABLE RENTAL NO.

COMPARABLE RENTAL NO. 2

COMPARABLE RENTAL NO. 3

223 W Dutton St

432 W Vine Street

319 Wall Street

609 Village St

Address Kalamazoo, MI 49007-5112

Kalamazoo, MI 49001

Kalamazoo, MI 49008

Proximity

to Subject

0.16 miles SW

0.28 miles SW

0.32 miles SW

Current MonthlyRent

| $

2,043

1,590

1,650

Rent/Gross Bldg. Area

| §

0.00 sq. ft.

1.13sq. ft

1.00sq. ft.

0.87 sq. ft

Rent Control

J Yes

Data Source(s)

SWMRIC/Owner

| SWMRIC / Public records

SWMRIC / Public records

Date of Lease(s)

Not applicable

Various

I Location

Urban

Kd Actual Age

107

117

133

147

Fi] Condition

[7]

Gross Building Area

2448 sq.ft.

1813 sq.ft.

1596 sq.ft.

1892 sq.ft.

;

Rm Count

Size

Rm Count

Size

Rm Count

Size

Rm Count

Size

B54

Unit Breakdown

Monthly Rent

Tot

|Br|

Sq.Ft.

| Tot

[Br|

Sq. Ft.

Tot

[Br]

Sq. Ft.

Tot

|Br|

Sq. Ft.

[=] Unit# 1

411/1.0]1,050[4

[1]

900]

8504

[2]

798%

79014

[2]

[1,162]$

950

3 Unit #2

512/10

/1398|5

[3]

913|$

1,193

[2]

798%

8004

[2]

730($

700

Unit#3

Unit#4

Utilities Included

Water/Sewer

Water and Sewer

Trash collection

Gas and Electric

Analysis of rental data and support

for estimated market rents for the individual subject units reported below (including the adequacy of the comparables, rental concessions, etc.)

Comparable rental

1 has all utilities included in their rent .. The 3 bedroom unit rental rates in the area are $350 to $450 per bedroom

The 2 bedroom unit rental rates in the area are $400 and $500 per bedroom

.. The

1 bedroom/studio rental rate in the area is $500 to

$750

.. The square feet rental rate range for properties where all utilities are included is $1.00 to $1.55 per sf with tenant paying gas

and electric the range is $.60 to $1.10

Rent Schedule: The appraiser must reconcile the applicable indicated monthly market rents to provide an opinion of the market rent for each unit in the subject property.

Leases

Actual Rents

Opinion Of Market Rent

Lease Date

Per Unit

Total

Per Unit

Total

Unit#

Begin Date

End Date

Unfurnished

Furnished

Rents

Unfurnished

Furnished

Rents

N/A

Vacant | §

850

N/A

Vacant

1,200

Comment on lease data

No Information

Total Actual Monthly Rent

0 | Total Gross Monthly Rent

2,050

provided by Owner/Realtor

Other Monthly Income (itemize)

Total Actual Monthly Income

0 | Total Estimated Monthly Income

2,050

Utilities included in estimated rents

J Electric

XJ Water

Sewer

J Gas J Qil

J Cable

Trash collection

J Other (describe)

Comments on actual or estimated rents and other monthly income (including personal property)

Does appear that units have separate electrical services based

on number of meters outside

.. There are 2 furnaces

.. No data on MLS for review

did

J did not research the sale or transfer history of the subject property and comparable sales. If not, explain

My research [lB] 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)

MLS and County 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)

MLS and County records

Report the results of the research and analysis of the prior sale history of the subject property and comparable sales (report additional prior sales on page 4).

ITEM

SUBJECT

COMPARABLE SALE NO.

COMPARABLE SALE NO. 2

COMPARABLE SALE NO. 3

Date of Prior Sale/Transfer

Price of Prior Sale/Transfer

Data Source(s)

SWMRIC

Effective Date of Data Source(s)

| 03/10/2023

03/10/2023

Analysis of prior sale history for the subject property and comparable sales

~~ The prior sales history of the subject and comparable sales revealed nothing

other than what appear to be arm's length transactions at sales prices consistent with competing properties. The local MLS and county

records were used as the primary source for the above prior sales data.

Freddie Mac Form 72 March 2005

Produced using AC! software, 800.234.8727 www.aciweb.com

Fannie Mae Form 1025 March 2006

Page 20f 7

1025_05090909

Page 4

Acura Valuation, Inc.

9500059303

Small Residential Income Property Appraisal Report

Fie No. 46921879-46921880

Thereare

comparable properties currently offered for sale in the subject neighborhood ranging in price from$

140,000

to$

415,000

There are

comparable sales in the subject neighborhood within the past twelve months ranging in sale price from$

47,000

to$

335,000

FEATURE

SUBJECT

COMPARABLE SALE NO.

223 W Dutton St

713 W Vine Street

124 Wall Street

419 W Walnut Street

Address Kalamazoo, MI 49007-5112

Kalamazoo, MI 49008

Kalamazoo, MI 49001

Kalamazoo, MI 49007

Proximity

to Subject

0.37 miles SW

0.26 miles SE

0.14 miles NW

Sale Price

130,000

122,000

153,000

130,000

Sale Price/Gross Bldg. Area

53.10 sq.ft

54.61

sq.ft

96.17 sq.ft

72.50 sq.ft

Gross Monthly Rent

1,280

1,750

1,325

Gross Rent Multiplier

0.00

95.31

87.43

98.11

Price Per Unit

65,000 | $

61,000

76,500

65,000

Price Per Room

14,444

13,556

19,125

16,250

Price Per Bedroom

43,333

30,500

38,250

65,000

Rent Control

[1B] Yes

J Yes

Data Source(s)

SWMRIC#22026605;D0M

SWMRIC#22014401;D0M 4

SWMRIC#22005863;D0M 79

Verification Source(s)

SWMRIC / Public records

VALUE ADJUSTMENTS

DESCRIPTION

+(-) Adjustment

DESCRIPTION

+(-) Adjustment

DESCRIPTION

+(-) Adjustment

Sale or Financing

Arms Length

Concessions

Conv;0

Conv;2600

-2,600

Date of Sale/Time

02/15/2023

s09/22;c06/22

s07/22;c04/22

s07/22;c05/22

Location

Urban

Leasehold/Fee Simple

Fee Simple

Site

5920 sf

13068 sf

-500 3093 sf

500 | 3267 sf

500

View

N;Res

N;Res;

N:Res;

Design (Style)

Traditional

Quality of Construction

9% Actual Age

107

158

[1298

118

Condition

BS Gross Building Area5

2448 sq.ft.

2234 sq.ft.

1,000 | 1591 sq.ft.

4,500 | 1793 sq.ft.

3,500

Unit Breakdown

Total

| Bdms.

Baths

Total

| Bdrms

Baths

Total

| Bdrms

Baths

Total

| Bdrms

Baths

Unit#

| 2

1.0

-2,00005

| 3

1.0

-4,000|

1.0

Unit #2

1.0

2,000]

1.0

2,000

Unit#3

Unit#4

Basement Description

Part./964 Sq.Ft.

|Part./1117Sq.Ft.

-500 | Part./814 Sq.Ft.

500 | Part./953Sq.Ft.

Basement Finished Rooms | Unfinished

Unfinished

Functional Utility

Typical

Heating/Cooling

FWA None

Energy Efficient Items

None

Parking On/Off Site

On Site

On site

Porch/Patio/Deck

Porches

0 | Porches

Porches

None

No Garage

None

Net Adjustment (Total)

2,000

3,500

3,400

Adjusted Sale Price

Net Adj.

-1.6 %

Net Adj.

2.3%

Net Adj.

2.6 %

of Comparables

Gross Adj.

33%|$

120,000 | Gross Adj.

75 %|$

156,500 | Gross Adj.

6.6 %|$

133,400

Adj. Price Per Unit

(Adj. SP Comp /# of Comp Units)

60,000

78,250

66,700

Adj. Price Per Room _ (Ad. SP Comp

/ # of Comp Rooms)

| $

13,333

19,563

16,675

Adj. Price Per Bdrm.

(Adj. SP Comp

/# of Comp Bedrooms) | $

30,000

39,125

66,700

Value Per Unit

60,000

2Units

120,000

|ValuePerGBA

60.00

2448 sq.ft. GBA

=§

146,880

Value Per Rm.

15,000

9Rooms =§

135,000 | Value Per Bdrms.

45,000

3 Bdrms. =§

135,000

Summary of Sales Comparison Approach including reconciliation of the above indicators of value. ~~ There was no appreciation considered nor was any value given

to any personal property

.. Comparables are in closing date order .. Some items in the grid are different from the MLS after review of

public records

.. Not all listings have interior photos for review .. Comparable

is given the most consideration requiring the least

amount adjustments, 3.3%

.. Comparable 3 is given the next most consideration requiring 5.4% in adjustments

.. Comparables 2 and 3

are given similar and the next most consideration requiring under 8% in adjustments

.. All comparables are in Kalamazoo School

District, have public water and sewer, like the subject .. Comparables 1, 3, 4 and 5, the tenants pay Electric and Gas, like the subject

Comparable 2 the pay Electric

Indicated Value by Sales Comparison Approach $ 135,000

Total gross monthly rent $

2,050

X gross rent multiplier (GRM)

85.00

174,250 Indicated value by the Income Approach

INCOME

Comments on income approach including reconciliation of the GRM

Based on comparable sales used and reviewed, GRM ranges from 70 to 125.

Indicated Value by:

Sales Comparison Analysis$ 135,000

Income Approach $174,250

Cost Approach (if developed) $ 0

The high quality of the data used in the sales comparison approach demonstrates its viability as the best value indicator and supported

by the Income approach. Cost approach was considered but deemed not reliable because of age of improvements

This appraisal is made

J "asis,"

J 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

OJ subject to the following required

inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:

~~ Sale contract is subject to lower unit receiving

City of Kalamazoo certificate of compliance for rental properties.

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, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property thatis the subject of this reportis

135,000

asof

03/03/2023

, whichis the date of inspection and the effective date of this appraisal.

Freddie Mac Form 72 March 2005

Produced using AC software, 800.234.8727 www.aciweb.com

Fannie Mae Form 1025 March 2006

Page 30f 7

1025_05090908

Acura Valuation, Inc.

Page 5

Acura Valuation, Inc.

9500059303

Small Residential Income Property Appraisal Report

Fie No. 46921879-46921880

Clarification of Intended Use and Intended User:

The Intended User of this appraisal report is the Lender/Client. The Intended Use is to evaluate the property that is the subject of this

appraisal for

a mortgage finance transaction, subject to the stated Scope of Work, purpose of the appraisal, reporting requirements of

this appraisal report form, and Definition of Market Value. No additional Intended Users are identified by the appraiser.

Use of Cost Approach for Insurance Purposes:

Replacement cost figures used in developing the cost approach are for valuation purposes only.

No one, client or third party, should

rely on these figures for insurance purposes.

The definition of "market value" on page four of this form is not consistent with definitions

of "insurable value." Actual reconstruction costs can easily exceed the replacement cost figures used in this appraisal.

REPORTING OPTIONS

Per prior agreement with the client, this is a Appraisal Report in Appraisal Report Form, which is intended to comply with the reporting

requirements set forth under Standards Rule 2-2 of the 2020-2021 Uniform Standards of Professional Appraisal Practice for a

Appraisal Report. As such,

it presents only summary discussions of data, reasoning, and analyses that were used in the appraisal

process to develop the appraiser's opinion of value. Supporting documentation that is not provided with the report concerning the data,

reasoning, and analyses is retained in the appraiser's file. The depth of discussion contained in this report is specific to the needs of the

client and for the intended use stated in the report. The appraiser is not responsible for unauthorized use of this report. No departures

from Standards

1 were invoked.

FNMA does not define what a "complete visual inspection” is; The routine inspection of the property and improvements is for the

= purposes of estimating the fair market value of the property. Attics and crawl spaces are not inspected. The property "inspection" is

really more of an "observation".

It is not intended to be regarded as a

full property inspection of the type to reveal defects in mechanical

systems, structural integrity, roofing, siding or any other property component. The appraiser claims no special expertise in these areas,

nor is the appraiser an expert regarding wood destroying (or other) insects, radon gas or lead base paint. UNLESS OTHERWISE

NOTED, the appraiser makes the extraordinary assumption that there is no adverse impact on value; should this prove to be untrue,

the value could be impacted. In short, the appraiser is not

a home inspector and the appraiser report is not a home inspection report.

The appraisal report should not be relied upon to disclose the condition of the property or the presence/absence of any defects. The

client is invited and encouraged to employ qualified experts to inspect and address any area of concern. If negative conditions are

discovered, the value estimate would likely require modification.

COST APPROACH TO VALUE (not required by Fannie Mae)

Provide adequate information for the lender/client to replicate the below cost figures and calculations.

Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)

~~ See Attached Addendum

§| ESTIMATED

J REPRODUCTION OR

J REPLACEMENT COST NEW

OPINION OF SIHTENVALUE

sssssonsnmnm

sume supe

susnsonsmsss

10,000

Source of cost data

Dwelling

3.412 So.Ft.@$

a Quality rating from cost service

Effective date of cost data

Bsmt: 964

So.Ft.@$

Comments on Cost Approach (gross living area calculations, depreciation, etc.)

GLA calculations are separate addendum

Garage/Carport 352

So.Ft.@$

Total Estimate of Cost-New

senses

Less

Physical

| Functional

External

Depreciation

=§(

Deprecated Cost of Improvements

...............cccceeeeeee....

"As-is" Value of Site Improvements.....................ccoee...

Estimated Remaining Economic Life (HUD and VA only)

40 Years | INDICATED VALUE BY COSTAPPROACH......................

=§

PROJECT INFORMATION FOR PUDs (if applicable)

Is the developer/builder in control of the Homeowners’ Association (HOA)?

J Yes J No

Unittype(s)

[] Detached

J Attached

Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.

Legal name of project

Total number of phases

Total number of units

Total number of units sold

Total number of units rented

Total number of units for sale

Data source(s)

=| Was the project created by the conversion of an existing building(s) into a PUD?

J Yes J No

IfYes, date of conversion.

Does the project contain any multi-dwelling units?

J Yes J No

Data source(s)

Are the units, common elements, and recreation facilities complete?

J Yes J No

If No, describe the status of completion.

Are the common elements leased to or by the Homeowners" Association?

J Yes J No

If Yes, describe the rental terms and options.

Describe common elements and recreational facilities.

Freddie Mac Form 72 March 2005

Produced using AC! software, 800.234.8727 www.aciweb.com

Fannie Mae Form 1025 March 2006

Page 4 of 7

1025_05090909

Page 6

Acura Valuation, Inc.

9500059303

Small Residential Income Property Appraisal Report

File No. 46921879-46921880

This report form is designed to report an appraisal of a two- to four-unit property, including a two- to four-unit property in a planned

unit development (PUD).

A two- to four-unit property located in either a condominium or cooperative project requires the appraiser

to inspect the project and complete the project information section of the Individual Condominium Unit Appraisal Report or the

Individual Cooperative Interest Appraisal Report and attach

it as an addendum to this report.

This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of

assumptions and limiting conditions, and certifications.

Modifications, additions, or deletions to the intended use, intended user,

definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work

to include any additional research or analysis necessary based on the complexity of this appraisal assignment.

Modifications or

deletions to the certifications are also not permitted.

However, additional certifications that do not constitute material alterations

to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an

appraisal organization, are permitted.

SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the

reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions

and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the

interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at

least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis,

opinions, and conclusions in this appraisal report.

INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of

this appraisal for

a mortgage finance transaction.

INTENDED USER: The intended user of this appraisal report is the lender/client.

DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market

under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is

not affected by undue stimulus.

Implicit in this definition is the consummation of a sale as of a specified date and the passing of

title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed

or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for

exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements

comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative

financing or sales concessions* granted by anyone associated with the sale.

*Adjustments to the comparables must be made for special or creative financing or sales concessions.

No adjustments are

necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily

identifiable since the seller pays these costs in virtually all sales transactions.

Special or creative financing adjustments can be

made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already

involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the

financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or

concessions based on the appraiser's judgment.

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the

following assumptions and limiting conditions:

The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title

it, except for information that he or she became aware of during the research involved in performing this appraisal. The

appraiser assumes that the title is good and marketable and will not render any opinions about the title.

The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements,

including each of the units. The sketch is included only to assist the reader in visualizing the property and understanding the

appraiser's determination of its size.

The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or

other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special

Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this

determination.

The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question,

unless specific arrangements to do so have been made beforehand, or as otherwise required by law.

The appraiser has noted in this appraisal report any adverse conditions {such as needed repairs, deterioration, the presence of

hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of

during the research involved in performing this appraisal.

Unless otherwise stated in this appraisal report, the appraiser has no

knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to,

needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that

would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or

warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or

testing that might be required to discover whether such conditions exist.

Because the appraiser is not an expert in the field of

environmental hazards, this appraisal report must not be considered as an environmental assessment of the property.

The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory

completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be

performed in a professional manner.

Freddie Mac Form 72 March 2008

Produced using ACI software, 800.234.8727 www.aciweb.com

Fannie Mae Form 1025 March 2006

Page 50f 7

1025_05 080909

Page 7

Acura Valuation, Inc.

9500059303

Small Residential Income Property Appraisal Report

File No. 46921879-46921880

APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:

| have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this

appraisal report.

| performed a complete visual inspection of the interior and exterior areas of the subject property, including all units.

| reported

the condition of the improvements in factual, specific terms.

| identified and reported the physical deficiencies that could affect

the livability, soundness, or structural integrity of the property.

| performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice

that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the

time this appraisal report was prepared.

| developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison

and income approaches to value.

| have adequate market data to develop reliable sales comparison and income approaches to

value for this appraisal assignment.

| further certify that

| considered the cost approach to value but did not develop

it, unless

otherwise indicated in this report.

| researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale

of the subject property in the twelve months prior

to the effective date of this appraisal, and the prior sales of the subject property

for

a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.

| researched, verified, analyzed, and reported on the prior sales of the comparable sales for

a minimum of one year prior to the

date of sale of the comparable sale, unless otherwise indicated in this report.

| selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.

| have not used comparable sales that were the result of combining a land sale with the contract purchase price of

a home

that has been built or will be built on the land.

| have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject

property and the comparable sales.

10.

| verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in

the sale or financing of the subject property.

11.

| have knowledge and experience in appraising this type of property in this market area.

12.

| am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing

services, tax assessment records, public land records and other such data sources for the area in which the property is located.

13.

| obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from

reliable sources that

| believe to be true and correct.

14.

| have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject

property, and the proximity of the subject property to adverse influences in the development of my opinion of market value.

| have

noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of

hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property

or that

| became aware of during the research involved in performing this appraisal.

| have considered these adverse conditions in

my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject

property.

15.

| have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all

statements and information in this appraisal report are true and correct.

16.

| stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are

subject only to the assumptions and limiting conditions in this appraisal report.

17.

| have no present or prospective interest in the property that is the subject of this report, and

| have no present or prospective

personal interest or bias with respect to the participants in the transaction.

| did not base, either partially or completely, my

analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap,

familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or

occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law.

18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned

on any agreement or understanding, written or otherwise, that

| would report {or present analysis supporting) a predetermined

specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the

attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan

application).

19.

| personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report.

| relied on

significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the

preparation of this appraisal report,

| have named such individual(s) and disclosed the specific tasks performed in this appraisal

report.

| certify that any individual so named is qualified to perform the tasks.

| have not authorized anyone to make a change to

any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and

| will take no responsibility for it.

20.

| identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered

and will receive this appraisal report.

21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower;

the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market

participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality

of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or

supervisory appraiser's {if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or

distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other

media).

Freddie Mac Form 72 March 2008

Produced using ACI software, 800.234.8727 www.aciweb.com

Fannie Mae Form 1025 March 2006

Page 6of 7

1025_05 080909

Page 8

Acura Valuation, Inc. 

9500059303 

Small Residential Income Property Appraisal Report 

File No. 46921879-46921880 

22. 

| am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws 

and regulations. 

Further, 

| am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that 

pertain to disclosure or distribution by me. 

23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, 

government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any 

mortgage finance transaction that involves any one or more of these parties. 

24. 

If this appraisal report was transmitted as an “electronic record” containing my “electronic signature,” as those terms are 

defined in applicable federal and/or state laws {excluding audio and video recordings), or a facsimile transmission of this appraisal 

report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a 

paper version of this appraisal report were delivered containing my original hand written signature. 

25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal 

penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 

1001, et seq., or similar state laws. 

SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 

1. 

| directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's 

analysis, opinions, statements, conclusions, and the appraiser's certification. 

2. 

| accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, 

opinions, statements, conclusions, and the appraiser's certification. 

3. 

The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser {or the 

appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 

4. 

This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and 

promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal 

report was prepared. 

5. 

If this appraisal report was transmitted as an “electronic record” containing my “electronic signature,” as those terms are 

defined in applicable federal and/or state laws {excluding audio and video recordings), or a facsimile transmission of this appraisal 

report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if 

a 

paper version of this appraisal report were delivered containing my original hand written signature. 

APPRAISER 

Signature 

Name Robeft 

L. Mulder 

Company Name Acura Valuation, Inc. 

Company Address 709 Lodge Lane 

Kalamazoo, MI 49009 

SUPERVISORY APPRAISER (ONLY IF REQUIRED) 

Signature 

Name 

Company Name 

Company Address 

Telephone Number 269-342-6615 

Email Address rmulder@acuravaluation.com 

Date of Signature and Report 03/10/2023 

Effective Date of Appraisal 03/03/2023 

State Certification # 

or State License # 1203001053 

or Other (describe) 

State # 

State MI 

ADDRESS OF PROPERTY APPRAISED 

223 W Dutton St 

Expiration Date of Certification or License 07/31/2023 

Kalamazoo, MI 49007-5112 

LENDER/CLIENT 

Name Carrie Harrison 

APPRAISED VALUE OF SUBJECT PROPERTY $ 135,000 

Company Name Consumers Credit Union 

Company Address 7200 Elm Valley Drive 

Kalamazoo, MI 49009 

Email Address carrie.harrison@consumerscu.org 

Telephone Number 

Email Address 

Date of Signature 

State Certification # 

or State License # 

State 

Expiration Date of Certification or License 

SUBJECT PROPERTY 

(J Did not inspect subject property 

Obid inspect exterior of subject property from street 

Date of Inspection 

(J Did inspect interior and exterior of subject property 

Date of Inspection 

COMPARABLE SALES 

(J Did not inspect exterior of comparable sales from street 

Obid inspect exterior of comparable sales from street 

Date of Inspection 

Freddie Mac Form 72 March 2008 

Produced using ACI software, 800.234.8727 www.aciweb.com 

P 

Fannie Mae Form 1025 March 2006 

1025_05 080909 

Acura Valuation, Inc.

Page 9

Acura Valuation, Inc. 

9500059303 

Small Residential Income Property Appraisal Report 

Fie No. 46921879-46921880 

FEATURE 

I 

SUBJECT 

COMPARABLE SALE NO. 4 

COMPARABLE SALE NO. 5 

COMPARABLE SALE NO. 6 

223 W Dutton St 

609 Village Street 

809 Oak Street 

Address Kalamazoo, MI 49007-5112 

Kalamazoo, MI 49008 

Kalamazoo, MI 49008 

Proximity to Subject 

0.32 miles SW 

0.33 miles SW 

Sale Price 

$ 

130,000 

$ 

140,000 

$ 

159,900 

$ 

Sale Price/Gross Bldg. Area| 

$ 

53.10 sq.ft | $ 

74.00 sq.ft 

$ 

70.97 sq.ft 

$ 

sq. ft 

Gross Monthly Rent 

$ 

0s 

1,650 

$ 

1,545 

$ 

Gross Rent Multiplier 

0.00 

84.85 

103.50 

Price Per Unit 

$ 

65,000 | $ 

70,000 

$ 

79,950 

$ 

Price Per Room 

$ 

14,444 | § 

14,000 

$ 

17,767 

$ 

Price Per Bedroom 

$ 

43,333 

[$ 

35,000 

$ 

31,980 

$ 

Rent Control 

[ves 

XINo 

[Ives 

[INo 

[l] Yes 

No 

[ves 

[No 

Data Source(s) 

SWMRIC#22027844;D0M 

1 

SWMRIC#23005654;D0M 13 

Verification Source(s) 

SWMRIC / Public records 

SWMRIC / Public records 

VALUE ADJUSTMENTS 

DESCRIPTION 

DESCRIPTION 

+(-) Adjustment 

DESCRIPTION 

+(-) Adjustment 

DESCRIPTION 

+(-) Adjustment 

Sale or Financing 

Arms Length 

Listing 

Concessions 

Cash;0 

Date of Sale/Time 

02/15/2023 

s05/22;c05/22 

Active 

Location 

Urban 

Urban 

Urban 

Leasehold/Fee Simple 

Fee Simple 

Fee Simple 

Fee Simple 

Site 

5920 sf 

10672 sf 

-500 | 3539 sf 

0 

View 

N;Res 

N;Res; 

N;Res 

Design (Style) 

Traditional 

Traditional 

Traditional 

Quality of Construction 

Q4 

Q4 

Q4 

Actual Age 

107 

148 

0]128 

0 

Condition 

C4 

C4 

c4 

Gross Building Area5 

2448 sq.ft. 

1892 sq.ft. 

3,000 | 2253 sq.ft. 

1,000 

Unit Breakdown 

Total | Bdms. 

Baths 

Total 

|Bdms.| 

Baths 

Total _| Bdrms. 

Baths 

Total | Bdrms 

Baths 

Unit# 

1 

4 

1 

1.0 

5 

| 

2 

1.0 

-2,000/ 

4 

| 2 

1.0 

-2,000 

Unit #2 

5 

| 2 

1.0 

5 

| 

2 

1.0 

5 

3 

1.0 

-2,000 

Unit#3 

Unit#4 

Basement Description 

Part./964 Sq.Ft. 

| Part./902Sq.Ft. 

0 | Part./1059Sq.Ft. 

0 

51 Basement Finished Rooms | Unfinished 

Unfinished 

Unfinished 

=y 

Functional Utility 

Typical 

Typical 

Typical 

= Heating/Cooling 

FWA None 

FWA None 

FWA None 

>] 

Energy Efficient Items 

None 

None 

None 

5] Parking On/Off Site 

On Site 

On site 

On site 

Porch/Patio/Deck 

Porches 

Porches 

Porches 

None 

None 

None 

No Garage 

1 Car Garage 

-2,000 | None 

None 

None 

None 

Net Adjustment (Total) 

[lB] + 

= 

$ 

1,500 

[] + 

i 

$ 

3,000 

[J+ 

[]- 

$ 

% 

Adjusted Sale Price 

Net Adj. 

-1.1% 

Net Adj. 

-1.9 % 

Net Adj. 

% 

of Comparables 

Gross Adj. 

54 %|$ 

138,500 | Gross Adj. 

3.1%|$ 

156,900 | Gross Adj. 

%|$ 

Adj. Price Per Unit 

(Adj. SP Comp /# of Comp Units) 

$ 

69,250 

$ 

78,450 

$ 

Adj. Price Per Room _ (Adi. SP Comp 

/ #of Comp Rooms) 

| § 

13,850 

$ 

17,433 

$ 

Adj. Price Per Bdrm. 

(Adj. SP Comp/ # of Comp Bedrooms) | § 

34,625 

$ 

31,380 

$ 

ITEM 

SUBJECT 

COMPARABLE SALE NO. 4 

COMPARABLE SALE NO. 5 

COMPARABLE SALE NO. 6 

Date of Prior Sale/Transfer 

Price of Prior Sale/Transfer 

Data Source(s) 

SWMRIC 

SWMRIC 

SWMRIC 

Effective Date of Data Source(s) 

| 03/10/2023 

03/10/2023 

03/10/2023 

Summary of Sales Comparison Approach. 

|, Robert Mulder, has not performed any services, as an appraiser or in any other capacity, regarding 

the property that is the subject of this report within the three year period immediately preceding acceptance of this assignment. 

| have 

no present or prospective interest in the property that is the subject of this report, and 

| have no personal interest or bias with respect to 

the parties involved. My compensation is not contingent on an action or event resulting from the analysis, opinion or conclusions in, or 

the use of, this review report. My analysis, opinions and conclusions were developed, and this report has been prepared, in conformity 

with the Uniform Standards of Professional Appraisal Practice. 

Appraiser estimates the "Exposure Time" of the subject property to be 30 - 120 days. "Exposure Time" is the estimated length of time 

that the property interest being appraised would have been offered on the market prior to the hypothetical consumption of a sale at 

market value on the effective date of the appraisal. 

It is the appraiser's opinion that no time adjustments, either negative or positive are necessary for sales that are over ninety days in this 

price range and neighborhood. 

In the scope of work of this pre printed form, 

it notes that appraiser has made an exterior inspection of the comparables; this is not true 

of every order received and the client's own scope of work. Appraising since 1987, appraiser has extensive knowledge of the greater 

Kalamazoo area and when completing a subject inspection spends time driving the immediate neighborhood searching for active 

listings, pending sales, and any new construction in the development. Therefore, when providing comparable photos some are original 

for this file, some are original file photos from previous reports or MLS photos; 

if MLS photos are used they are considered 

representative of the comparable at the time of sale and verified from public records when reviewing property information and public 

photographs. 

It is the appraiser's opinion that the no adjustment was necessary because of the different styles of housing in the report. 

Freddie Mac Form 72 March 2005 

Produced using AC! software, 800.234.8727 www.aciweb.com 

Fannie Mae Form 1025 March 2006 

1025_05090909

Page 10

ADDENDUM

Borrower: Matthew McCamman

File No.. 46921879-46921880

Property Address: 223 W Dutton St

Case No.: 9500059303

City: Kalamazoo

State:

Zip: 49007-5112

Lender: Consumers Credit Union

Analysis of the Sales Contract

Contract is dated February 2 with offer price of $130,000, lower unit must have rental certificate from the City of Kalamazoo

with a signed buyer lease of seller tenant at $900 per month price and upper unit to be vacant .. Signed by buyer on

February 8 .. Seller counter offer is dated February 14 indicating the closing to be no later than March 31, Seller and buyer

signed counter offer on February 15 with no changes.

Highest and Best Use

1} Legally permitted

- Yes,

it is legally permitted because it is a multi family investment property.

2) Financially feasible - Yes, improvements were built around 1916 and have a remaining economic life of at least 40 years

3) Physically possible - Yes, improvements have been maintained, with some updating and property meets zoning

guidelines

4} Provide more profit than any other use of the site would generate - Because of zoning, the highest and best use of the

property is its current use as a multi family investment property.

Site Comments

This site is typical of the neighborhood in terms of size, topography, view and general appeal. It provides a suitable setting

for the improvements and is consistent with market expectations in this price range. While no readily apparent adverse site

conditions or external factors were noted, many site-related issues are beyond the scope of this assignment.

Statements regarding zoning compliance are intended only in the most general sense. Zoning and building ordinances vary

significantly from one municipality to another and can be extremely detailed. The scope of this assignment does not include

a comparison of every potentially significant characteristic of the subject property's site and improvements relative to zoning

and building ordinances.

Unless otherwise noted, standard utility and right-of-way easements are insignificant to value. However, a current locational

or boundary survey, which was unavailable to the appraiser, may reveal encroachments, easements, zoning violations or

other matters of interest that could warrant modification of the appraisal.

Site dimensions are from survey .. Site has shared driveway to home to the west of the subject.

Comments on Sales Comparison

Comparable

1 listed June 28, 2022 for $119,329, prior to contract date.

Comparable 2 listed April 25, 2022 for $149,000, prior to contract date.

Comparable 3 listed February 26, 2022 for $139,900, prior to contract date.

Comparable 4 listed July 5, 2022 for $140,000, prior to contract date.

Comparable 5 is an active listing, listed February 23, 2023 for current list price of $159,900.

FINAL RECONCILIATION

The subject property is located 2 miles from my home office. This assignment requires geographic competency as part of

the scope of work.

| have spent sufficient time in the subjects market and understand the nuances of the local market and

the supply and demand factors relating to the specific property type and the location involved. Such understanding will not

be imparted solely from a consideration of specific data such as demographics, costs, sales and rentals. The necessary

understanding of local market conditions provides the bridge between a sale and a comparable sale or a rental and a

comparable rental.

The running debate on how various appraiser's read UAD standards, after a recent and specific continuing education class,

try to be more consistent in the use of the Q

ratings, based on the time when the home was built, the standards for that time

period whether it be style, design and or building materials. So to specifically changed any of the Q ratings on these

comparables to match other appraiser's opinion of UAD standards or in my case a change on how

| reflect on Q ratings from

past reports,

| will not make those changes.

Because of diversity and wording of sale contracts, in the past 18 to 24 months; buyer's paying seller closing costs,

escalation clause's, under sale price appraisal clause's, home warranty, radon mitigation, etc. Appraiser does not always

adjusts for seller concessions that are reported because these other items are not reported and the only sale price reported

to the public and shown on places like Zillow is the price recorded on the deed and shown on municipalities web sites.

Because of inflationary pressures, the war in Ukraine and anticipation of interest rate hikes,

it is the appraiser's opinion that

the market is leveling off with minimal appreciation in relationship to last years prices.

Effective on April 1, 2022, all single family homes must follow ANSI standards to determine GLA and non-GLA areas of the

subject and appraiser is confirming that ANSI was utilized. ANSI standards are for single family homes not income

properties

Appraiser only adjusted for bedroom or bathroom differential not room count.

If the subject or any of the comparables have a storage shed, the appraiser does not adjust either in the positive or negative

because of the lack of verifiable data as to the size, quality of construction or finish.

If the subject or any of the comparables have an in ground pool, above ground pool or hot tub, appraiser can not justify an

adjustment either in the negative or the positive because of limited seasonal use for such amenities, minimal number of

properties with such an amenity and the lack of verifiable data as the quality and size of such amenities.

Support for the Opinion of Site Value

In the past 12 months, there were 11 lot sales under an acre in Kalamazoo School District, and in the City of Kalamazoo or

Kalamazoo Township .. Sale price range $4,500 to $104,500 .. Median price $18,000 .. Average price $34,773

LICENSING;

Addendum Page 1 of 2

Page 11

ADDENDUM

Borrower: Matthew McCamman

File No.. 46921879-46921880

Property Address: 223 W Dutton St

Case No.: 9500059303

City: Kalamazoo

State:

Zip: 49007-5112

Lender: Consumers Credit Union

In Michigan, Appraisers are to be licensed by the State of Michigan Department of Licensing and Regulatory Affairs (LARA),

PO Box 30018, Lansing, Michigan 48909.

This report, analysis and information including personal information about above mentioned borrower(s} is in compliance

with the Gramm-Leach-Bliley Act. The act covers collection, use and disclosure of non public personal information by

financial institutions. The Final Rule of G-L-B states that "(a) personal property or real estate appraiser is a financial

institution because real estate and personal property appraisal is a financial activity." Non public personal information

includes personally identifiable financial information such as credit card data, salary and bank account information and any

information gained through an internet "cookie".

This appraisal utilizes digital signatures which is secured by a private pin number and is known only by the appraiser of this

"Summary Appraisal Report". Digital signatures are accepted by Fannie Mae, Freddie Mac, and USPAP.

USE OF COST APPROACH FOR INSURANCE PURPOSES:

If replacement cost figures are used in developing the cost approach,

it is for valuation purposes only.

No one, client or third

party, should rely on these figures for insurance purposes. The definition of "market value" on page four of this form is not

consistent with definitions of "insurable value." Actual reconstruction costs can easily exceed the replacement cost figures

used in this appraisal.

Flood information is provided for reference purposes only. Recommend a flood determination from an independent

company. Please note item 3 of the attached Statement of Limiting Conditions.

INFESTATION:

A visual inspection of exposed areas was done and no obvious evidence was noted. The appraiser is not considered an

expert in this area and not qualified to render an opinion. It is recommended an inspection by a certified pest control

company be obtained.

MARKET ANALYSIS: SELLER CONCESSIONS COMMENTS

The total number of all Comparable Active Listings is based on listings that were On Market for all or part of one of the

specified time periods above. Time ranges are based on a 360-day year commonly called the ‘banking year". Listings are

‘disqualified’ from the median value calculations when their Selling Date, Expiration Date, or Inactive Date is more than 360

days from the current date. Please refer to additional comments made under the Market Conditions section. Seller

concessions are common; FNMA's definition of market value is an expansion of the definition identified in FIRREA. The

definition is intended to assure that appraisals reflect value after adjusting for special or creative financing or atypical sales

concessions. If financing or concessions are typical, no adjusting should be applied. If they are not typical, adjustment

should not be an automatic dollar for dollar adjustment but should reflect the market's reaction to the financing or

concession.

Addendum Page 2 of 2

Page 12

Operating Income Statement

9500059303

One- to Four-Family Investment Property and Two- to Four-Family Owner-Occupied Property

46921879-46921880

Property Address

223 W Dutton St

Kalamazoo

49007-5112

Street

City

State

Zip Code

General Instructions:

This form is to be prepared jointly by the loan applicant, the appraiser, and the lender's underwriter. The

applicant must complete the following schedule indicating each unit's rental status, lease expiration date, current rent, market rent,

and the responsibility for utility expenses. Rental figures must be based on the rent for an "unfurnished" unit.

Currently

Expiration

Current Rent

Market Rent

Paid

Rented

Date

Per Month

Utility Expense

By Owner

By Tenant

Unit No. 1 Yes

No X

850

Electricity | []

Unit No. 2 Yes

No X

1,200

Gas

Unit No. 3 Yes

Fuel Oil

[0]

Unit No. 4 Yes

Fuel (Other) | []

[]

Total

2,050

Water/Sewer

[]

Trash Removal

[Il]

The applicant should complete all of the income and expense projections and for existing properties provide actual year-end operating

statements for the past two years (for new properties the applicant's projected income and expenses must be provided). This Operating

Income Statement and previous operating statements the applicant provides must then be sent to the appraiser for review, com-

ment, and/or adjustments next to the applicant's figures (e.g., Applicant/Appraiser 288/300).

If the appraiser is retained to complete

the form instead of the applicant, the lender must provide to the appraiser the aforementioned operating statements, mortgage insur-

ance premium, HOA dues, leasehold payments, subordinate financing, and/or any other relevant information as to the income and

expenses of the subject property received from the applicant to substantiate the projections. The underwriter should carefully review

the applicant's/appraiser's projections and the appraiser's comments concerning those projections. The underwriter should make any

final adjustments that are necessary to more accurately reflect any income or expense items that appear unreasonable for the market.

(Real estate taxes and insurance on these types of properties are included in PIT! and not calculated as an annual expense item.)

Income should be based on current rents, but should not exceed market rents. When there are no current rents because the property

is proposed, new, or currently vacant, market rents should be used.

Annual Income and Expense Projection for Next 12 months

Adjustments by

Income (Do not include income for owner-occupied units)

By Applicant/Appraiser

Lender's Underwriter

Gross Annual Rental (fom unit(s) to be rented)...

Other Income (include sources)

Total...

Less Vacancy/Rentloss

0.00( 0%)

(_%)

Effective Gross Income

Other Taxes or Licenses

CasualLabor

1,000

This includes the costs for public area cleaning, snow removal,

etc., even though the applicant may not elect to contract for

such services.

Interior Paint/Decorating

This includes the costs of contract labor and materials that are

required to maintain the interiors of the living units.

General Repairs/Maintenance 0

This includes the costs of contract labor and materials that are

required to maintain the public corridors, stairways, roofs,

mechanical systems, grounds, etc.

Management Expenses

These are the customary expenses that a professional manage-

ment company would charge to manage the property.

Supplies

200

This includes the costs of items like light bulbs, janitorial

supplies, etc.

1,000

Total Replacement Reserves - See Schedule on Pg. 2

640

Miscellaneous

4840

Page 13

9500059303 

46921879-46921880 

Replacement Reserve Schedule 

Adequate replacement reserves must be calculate regardless of whether actual reserves are provided for on the owner's operating 

statements or are customary in the local market. This represents the total average yearly reserves. Generally, all equipment and com- 

ponents that have a remaining life of more than one year-such as refrigerators, stoves, clothes washers/dryers, trash compactors, 

furnaces, roofs, and carpeting, etc.-should be expensed on 

a replacement cost basis. 

Equipment 

Replacement 

Remaining 

By Applicant/ 

Lender 

Cost 

Life 

Appraiser 

Adjustments 

Stoves/Ranges 

@$ 

500.00 

ea. 

25 

Yrs. x 

2 

Units=$ 

40.00 

§ 

Refrigerators 

@% 

1,000.00 

ea.: 

25 

Yrs. x 

2 

Units =$ 

80.00 

§ 

Dishwashers = @$ 

ea: 

Yrs. x 

Units =§ 

$ 

ACUnits = @$ 

ea.: 

Yrs. x 

Units =§ 

$ 

C. Washer/Dryers 

~~ 

@$% 

eas 

Yrs. x 

Units =$ 

$ 

HW Heaters 

@% 

500.00 

ea.: 

25 

Yrs. x 

2 

Units =$ 

40.00 

§ 

Fumace(s} 

= =. @$ 

1,000.00 

ea.- 

25 

Yrs. x 

2 

Units =§ 

80.00 

§ 

(Other) 

@$ 

ea: 

Yrs. x 

Units =§ 

$ 

Roof... 

.. @$ 

10,000.00 

 : 

_ 

25 

Ys. x One Bldg. = 

$ 

400.00 

§ 

Carpeting (Wall to Wall} 

Remaining 

Life 

(Units) 

Total Sq. Yds. @$ 

PerSq. Yd. 

= 

Yrs. = 

$ 

$ 

(Public Areas} 

Total Sq. Yds. @$ 

PerSq. Yd. 

= 

Yrs. = 

$ 

$ 

Total Replacement Reserves. {Enteron Pg. 1) 

$ 

640.00 

§ 

Operating Income Reconciliation 

0.00 

-$ 

4,840.00 

=% 

-4,840.00 

=12= 

§ 

403.33 

Effective gross Income 

Total Operating Expenses 

Operating Income 

Monthly Operating Income 

$ 

-403.33 

-$ 

=$ 

403.33 

Monthly Operating Income 

Monthly Housing Expenses 

Net Cash Flow 

(Note: Monthly Housing Expense includes principal and interest on the mortgage, hazard insurance premiums, real estate taxes, mort- 

gage insurance premiums, HOA dues, leasehold payments, and subordinate financing payments.) 

Underwriter's instructions for 2-4 Family Owner-Occupied Properties 

* 

If Monthly Operating Income is a positive number, enter as "Net Rental Income” in the "Gross Monthly Income” section of 

Freddie Mac Form 65/Fannie Mae Form 1003. 

If Monthly Operating Income is a negative number, 

it must be included as a 

liability for qualification purposes. 

* 

The borrower's monthly housing expense-to-income ratio must be calculated by comparing the total Monthly Housing Expense 

for the subject property to the borrower's stable monthly income. 

Underwriter's instructions for 1-4 Family Investment Properties 

* 

If Net Cash Flow is a positive number, enter as "Net Rental Income” in the "Gross Monthly Income" section of Freddie Mac 

Form 65/Fannie Mae Form 1003. 

If Net Cash Flow is a negative number, 

it must be included as a liability for qualification 

purposes. 

* 

The borrower's monthly housing expense-to-income ratio must be calculated by comparing the total monthly housing expense 

for the borrower's primary residence to the borrower's stable monthly income. 

Appraiser's Comments (including sources for data and rationale for the projections) 

No income or expenses information provided for review 

Robert L. Mulder 

03/10/2023 

Appraiser Name 

Date 

Underwriter's Comments and Rationale for Adjustments 

Underwriter Name 

Underwriter Signature 

Date 

Freddie Mac 

PAGE 2 OF 2 

Fannie Mae 

Form 998 Aug 88 

Produced using ACI software, 800.234.8727 www aciweb.com 

Form 216 Aug 88 

Acura Valuation, Inc.

Page 14

FLOORPLAN SKETCH 

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

State: MI 

Zip: 49007-5112 

City: Kalamazoo 

Lender: Consumers Credit Union 

Staircase 

Enclosed Porch 

19 

= 

3 

= 

E 

H 

Kit/Dining 

* 

Kitchen 

5 

5 

5 

5 

5 

Basement 

_ 

a 

Bedroom 

[Area: 954 

iF] 

Bath 

3 

2 

} 

Living Room 

Dining 

& 

Laundry 

. 

First Floor 

Staircase 

8 

[Area: 

1050 ft] 

p> 

Utility 

I] 

Second Floor 

H 

Third Floor 

= 

[Area: 982 #7] 

[Area: 416 7] 

= 

Storage 

Living Room 

F/P 

Bedroom 

Bedroom 

. 

Foyer 

8 

24 

24 

i 

141 

709 Lodge Lane, Kalamazoo, MI 49009

Page 15

DIMENSION LIST ADDENDUM 

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

GROSS BUILDING AREA {GBA) 

_ 

3M2 

GROSS LIVING AREA {GLA) 

3412 

Area(s) 

Area 

% of GLA | % of GBA 

Living 

3.412 

100.00 

Level 

1 

1,050 

30.77 

30.77 

Level 2 

982 

28.78 

28.78 

Level 3 

416 

12.19 

12.19 

Other 

GBA 

Basement 

0 

964 

— 

Garage 

O 

SE 

O 

Area Measurements 

Area Type 

Measurements 

Factor 

Total 

Level1 

Level2 

Level3 

Other 

| Bsmt. 

Garage 

14.00 

19.00 

1.00 

266.00 

2.00 

8.00 

1.00 

16.00 

24.00 

32.00 

1.00 

768.00 

14.00 

14.00 

1.00 

196.00 

24.00 

32.00 

1.00 

768.00 

14.00 

14.00 

1.00 

196.00 

1.50 

12.00 

1.00 

18.00 

32.00 

24.00 

0.50 

384.00 

32.00 

24.00 

0.50 

384.00 

8.00 

12.00 

1.00 

96.00 

32.00 

10.00 

1.00 

320.00 

OoO0O0000O000O00D000O000OD000000000000000000000000000000XKIM 

OoO0O0000O000O00D000000OD0000000000000000000000D0D0OXKNXOOD00 

O0O0O0000000O00D000OD0O0OD0000000000000000000O00ODKNOOO000000 

0 

O0O0O0000000O00D000OD0O0OD0000000000000000000O000D000000NNO00 

0 

Produced using ACI software, 800.234.8727 www.aciweb.com 

DIM 10072013

Page 16

46921879-46921880 

Zip: 49007-5112 

$140,000 

Case No.: 9500059303 

File No.: 

State: MI 

flarmis Wab 

Survey of Property 

223 'W Dutton Street Kalamazoo, MI 49007 

228/25, 714 AM 

MLS # 22051581 

Property Address: 223 W Dutton St 

Lender: Consumers Credit Union 

Borrower: Matthew McCamman 

City: Kalamazoo 

MAE 

i 

SON 

2 

T 2 SR 

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709 Lodge Lane, Kalamazoo, MI 49009

Page 17

SUBJECT PROPERTY PHOTO ADDENDUM 

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

FRONT VIEW OF 

SUBJECT PROPERTY 

Appraised Date: March 3, 2023 

Appraised Value: § 135,000 

REAR VIEW OF 

SUBJECT PROPERTY 

STREET SCENE

Page 18

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

a 

| 

VIEW FROM NORTHEAST 

VIEW FROM SOUTHEAST 

STREET SCENE WEST 

PARKING AREA (GARAGE IS NOT PART OF SITE) 

VIEW OF SHARED DRIVEWAY 

PARK ACROSS THE STREET 

Produced using ACI software, 800.234.8727 www.aciweb.com 

PHT

Page 19

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

ENCLOSED FRONT PORCH 

FRONT DOOR 

DINING ROOM WITH WINDOW SEAT 

LIVING ROOM WITH FIREPLACE 

BEDROOM 

VIEW OF FRONT DOOR 

Produced using ACI software, 800.234.8727 www.aciweb.com 

PHT

Page 20

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

BATHROOM 

BACK ENTRY AND STAIRS TO BASEMENT 

BASEMENT WATER HEATERS 

BASEMENT FURNACES 

BASEMENT LAUNDRY 

DAMAGED EXTERIOR SIDING 

Produced using ACI software, 800.234.8727 www.aciweb.com 

PHT

Page 21

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

2ND FLOOR LIVING ROOM 

2ND FLOOR BEDROOM 

2ND FLOOR BEDROOM 

2ND FLOOR BATHROOM 

KITCHEN 

/ DINING 

KITCHEN 

/ DINING 

Produced using ACI software, 800.234.8727 www.aciweb.com 

PHT

Page 22

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

3RD FLOOR FINISH 

3RD FLOOR FINISH 

STAIRCASE FROM ENTRANCE TO 1ST LANDING 

STAIRCASE VIEW FROM ENTRY INTO UNIT 

STAIRCASE TO RIGHT GOES TO 3RD FLOOR 

EXTERIOR ENTRANCE STAIRCASE 

Produced using ACI software, 800.234.8727 www.aciweb.com 

PHT

Page 23

LOCATION MAP 

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

-~ 

7} 

St. Augustine 

St Augustine Cathedral 

¥ Cathedral School 

w 

7 

E-- 

ee 

— 

7 

i 

2 

3 

a, 

Academy St 

R AcademySt = 

> 

hy 

‘Bronson Park 

2 

i 

= 

~ 

© 

- 

Kalamazoo Public 

N South St 

W South St 

Kalamazoo 

= 

Library - Central Library 

g 

Institute of Arts 

‘ 

@ 

+ 

C 

- 

- 

Faith Temple 

- 

-~ 

Wiovell St 

- 

-— 

= 

ElLovell St 

- 

§ 

Church of God 

@ 

§ 

Comparable Sale 3 

@ 

: 

419 W Walnut Street 

i 

7 

Kalamazoo, MI 49007 

| 

3 

= 

0.14 miles NW 

® 

W Cedar St 

Trinity Lutheran church @) 

i 

p 4 

= 

Comparable Sale 5 

2 

£ 

s Field 

809 Oak Street 

3 

2 

2 

Subject 

§ 

Kalamazoo, MI 49008 

2 

g 

Q 

223 W Dutton St 

i 

4 

on 

TER, 

0.33 miles SW 

| PE 

Kalamazoo, MI 49007-5112 J HAH 

@ 

— 

2 

= 

PEE 

AS— 

4 

[<] 

§ 

2 

Comparable Sale 1 

ES 

a 

713 W Vine Street 

z 

Dutton st «et 

3 

/ 

Kalamazoo, MI 49008 

2 

Tot Lot 

CR 

0.37 miles SW 

> 

g 

i’ 

Bro 

e— vo 

® 

F 

chil 

W Vine 

§ 

d 

Tt 

ine 

St 

T 

3 

A 

W Vine St 

E Vine St 

a 

® 

F 

§ 

8 

1 

Fo 

“raise Baptist church @ 

8 

: 

& 

3 Ranney St 

@ 

Village St 3 

§ Ln 

Comparable Sale 2 

g 

2 

2 

124 Wall Strest 

g 

® 

§ 

Kalamazoo. MI 49001 

Kala 

MI 45001 

3 

> 

© 

0.16 miles SW 

ED, 

z 

3 

T 

= 

0.26 miles SE 

L] 

Min 

Ave 

w 

Burr Oak St 

4 

[" 

v 

Comparable Sale4 

| 

2 

L 

o 

609 Vilage Street 

% 

Gad 

Upjonm 

ar 

i 

Kalamazoo, MI 49008 

ge 

wall St 

€ 

w 032 miles SW 

= 

[ 

= 

[1 

El 

2 

5 

2 

3 

| Comparable Rental 2 

2 

Axtell St'Q 

319 Wall Street 

> 

Kalamazoo, MI 49001 

ca 

3 

0.28 miles SW 

& 

— 

i 

Forest St 

py 

g 

3 

9 

ss 

i» 

a¢ 

% 

ES 

McCourtie St =- Den Adel Ct 

“4, 

3 

2 

(J 

E 

ad 

Ave 

E Stockbridg 

st 

§ 

oF 

eer 

Pioneer St a 

— 

3 

&- 

= 

Richard 

[7] 

rd 

Ave 

J 

Ae Creek 

= 

Michigan Works! 

/ 

, 

Balch St 

Southwest 

/ 

’ 

° 

4 

= 

/ 

Ed 

/ 

2 W Emerson St 

/ 

t 

£ Emerson St 

= 

2 

(Google 

le= 

/ 

CH= 

/ 

Map data ©2023 

709 Lodge Lane, Kalamazoo, MI 49009

Page 24

COMPARABLE PROPERTY PHOTO ADDENDUM 

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

COMPARABLE SALE #1 

713 W Vine Street 

Kalamazoo, MI 49008 

Sale Date: s09/22;c06/22 

Sale Price: § 122,000 

COMPARABLE SALE #2 

124 Wall Street 

Kalamazoo, MI 49001 

Sale Date: s07/22;c04/22 

Sale Price: $ 153,000 

COMPARABLE SALE #3 

419 W Walnut Street 

Kalamazoo, MI 49007 

Sale Date: s07/22;c05/22 

Sale Price: § 130,000

Page 25

COMPARABLE PROPERTY PHOTO ADDENDUM 

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

COMPARABLE SALE #4 

609 Village Street 

Kalamazoo, MI 49008 

Sale Date: s05/22;c05/22 

Sale Price: $ 140,000 

COMPARABLE SALE #5 

809 Oak Street 

Kalamazoo, MI 49008 

Sale Date: Active 

Sale Price: $ 159,900 

COMPARABLE SALE #6 

Sale Date: 

Sale Price: §

Page 26

COMPARABLE RENTALS PHOTO ADDENDUM 

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

COMPARABLE RENTAL #1 

432 W Vine Street 

Kalamazoo, MI 49001 

COMPARABLE RENTAL #2 

223 W Vine Street 

Kalamazoo, MI 49001 

COMPARABLE RENTAL #3 

609 Village St 

Kalamazoo, MI 49008

Page 27

AERIAL MAP 

File No.: 

46921879-46921880 

Case No.: 9500059303 

State: MI 

Zip: 49007-5112 

Borrower: Matthew McCamman 

Property 

Address: 223 W Dutton St 

City: Kalamazoo 

Lender: Consumers Credit Union 

Kalamazoo § 

{Valley Museum 

i 

St Augustine 

. 

ustine!Cathedral 

Cathedral;School 

Af fiKalamazoo DF 

Rates 

ip 

= 

ob 

- 

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‘Kalamazoo 

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ses 

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] 

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223 W Dutton St 

H 

; 

Kalamazoo, 

Mi 49007-5112 

& 

— 

| 

Bronson 

Mthodist! Hospitals 

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4 

. 

; Praise BaptistiChurch 

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| 

Michigan Works! 8 

Satithwaet 

709 Lodge Lane, Kalamazoo, MI 49009

Page 28

FLOOD MAP 

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

2 

van a a ayes 

i 

9g 

V LIDIETY - Lenual Liorary 

Western Michigal 

H 

5 

Univercity Homer. 

2 

g 

2 

BH 

“2 

Q 

«» 

= 

3 

8 % 

W Lovell St 

W Levell St 

a 

W Lovell St 

CG) 

E Lovell St 

E Lovell St 

2 

Faith Toh ioka 

4 

k) 

a 

e 

Cl 

2 

Po 

= 

KRERE Gtod 

i 

H 

B 

St Luke's 

§ 

H 

1) 

hy 

@ 

Episcopal Church 

8 

8 

g 

8 

+4 

% 

Qoronson obste 

ES 

2 

[=] 

2 

W Codar St 

W Codar St 

Wi Cedar St 

g 

) 

= 

PB 

a 

5 

Trinity 

Lutheran 

Church 

@ Annunciation 

T 

Bronsor 

? 

pg a 

ST 

- 

H§ 

H 

Forefront Dermatology 

for Heal 

g 

2 

a 

Gladys C1 

|) 

Kalamazoo 

@ 

2 

2 

Skyrise Fiderly 

= 

Apartments 

Codar Ct 

a 

[5] 

B 

§ 

on 

W Walnut st 

W Walnut St 

W Walnut St 

2 E Walnut St 

B 

Q 

| 

F 

9 

Bronson 

1 

g 

£ 

Methodist Hospital 

8 

Subject 

: 

Federsl Ct 

= grenson Ho 

ain 

p> 

z 

223 W DUTTON ST 

| 

KALAMAZOO, MI 49007 

W Dutton st 

hon st 

E Dutton St 

entary 

@ 

\/ 2 

H 

st 

7 

gi 

# 

=] 

kamsc 

a 

3 

© 

a 

Bronson 

0 

2 

Wd Er 

Children’s 

i 

w 

i 

if 

£ 

as 

W Vine st 

W Vine St 

E Vine St 

BH 

§ 

§ 

ae 

: 

2 

H 

8 

Praise Baptist Church 

§& (@@) First United 

5 

% WW Baptist Church 

[ 

= 

Ban9 Hot 

2 

2 

HS 

Yoga & Fitness 

5 

» 

o 

5 

2 

. 

Vilage St = 

£ 

4 

Roe PI 

H 

3 

= 

Hellman Ct 

id 

g 

Houston PI 

Fellows Ave 

: 

3 

° 

i 

= 

Q 

Minor Ave 

Minor Ave 

Burr Oak St 

Burr Ook St 

FH 

a 

[3 

2 

“w 

hd 

g 

= 

Westnedge 

2 

wall st 

8 

Park 

Wheaton Ave 

Park P! 

e 

z 

Ed 

2 

£ 

@e=gh 

& 

H 

FLOOD INFORMATION 

LEGEND 

Community: CITY OF KALAMAZOO 

Property is NOT in a FEMA Special Flood Hazard Area 

Map Number: 26077C0187D 

Panel: 26077C0187 

Zone: X 

Map Date: 02-17-2010 

FIPS: 26077 

Source: FEMA DFIRM 

Sky Flood™ 

A 

= FEMA Special Flood Hazard Area — High Risk 

[5 

= Moderate and Minimal Risk Areas 

Road View: 

= Forest 

= Water 

No representations or warranties to any party concerning the content, accuracy or completeness of this flood report, including any warranty of merchantability or 

fitness for a particular purpose is implied or provided Visual scaling factors differ between map layers and are separate from flood zone information at marker location 

No liability is accepted to any third party tor any use or misuse of this flood map or its data, 

709 Lodge Lane, Kalamazoo, MI 49009

Page 29

Appraisal License 

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

GRETTHEN WHITHER 

GO/ERNOR 

DEPARTMENT 

ROBERT 

LEE MULDER 

LICTNSE 

NY 

1203002053 

STATE 

OF MICHIGAN 

Q024161 

OF LICENSING 

AND REGULATORY AFFAIRS 

BUREAU 

OF 

PROFESSIONAL 

LICENSING 

STATE LICENSED 

APPRAISER 

LICENSE 

EXPIRATION DATE 

AUDIT NO 

THEE DOTNET 

3 CT BEER 

07/31/2023 

3483071 

SIER THE LAWS OF THE STATE 

709 Lodge Lane, Kalamazoo, MI 49009

Page 30

Errors and Omission Insurance - Page 1 

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

EA= 

7 

LIA administrators & Insurance Services 

APPRAISAL, VALUATION AND PROPERTY SERVICES 

SRE 

PROFESSIONAL LIABILITY INSURANCE POLICY 

DECLARATIONS 

Aspen American Insurance Company 

(Referred to below as the "Company") 

590 Madison Avenue, 7th Floor 

New York, NY 

10022 

877-245-3510 

Date Issued 

Policy Number 

Previous Policy Number 

[ 

12/19/2022 

AATNO4930-08 

AATO04930-07 

THIS IS A CLAIMS MADE AND REPORTED POLICY. COVERAGE IS LIMITED TO LIABILITY FOR ONLY THOSE 

CLAIMS THAT ARE 

FIRST MADE 

AGAINST THE INSURED DURING 

TIE 

POLICY PERIOD 

AND THEN 

REPORTED 

TO 

THE 

COMPANY 

IN 

WRITING 

NO 

LATER 

THAN 

SIXTY 

(60) 

DAYS 

AFTER EXPIRATION 

OR 

TERMINATION 

OF 

THIS 

POLICY, 

OR 

DURING 

THE 

EXTENDED 

REPORTING 

PERIOD, 

IF 

APPLICABLE, 

FOR 

A 

WRONGFUL 

ACT 

COMMITTED 

ON 

OR 

AFTER 

THE 

RETROACTIVE 

DATE 

AND 

BEFORE 

THE 

END 

OF 

THE 

POLICY 

PERIOD 

PLEASE READ THE POLICY CAREFULLY 

1. 

Customer ID: 

124782 

Named Insured: 

KALAMAZOO APPRAISAL SERVICE, INC, 

ACURA VALUATION, INC. 

709 Lodge Lane 

Kalamazoo, MT 49009 

2 

Policy Pedod: From: 

~~ 01/27/2023 

To: 

01/27/2024 

12:01 AM. Standard Time at the address stated in 

1 above. 

3. 

Deductible: 

$2500 

Each Claim 

4. 

Retroactive Date: 

01/27/1996 

5. 

Inception Date: 

01/27/2016 

6. 

Limits of Liability: 

A. 

$1,000,000 

Each Claim 

B. 

$2,000,000 

Aggregate 

Subpoena Response: 

$5,000 Supplemental Pagment Coverage 

Pre-Claim Assistance: 

$5,000 Supplemental Payment Coverage 

Disciplinary Proceeding: 

$12,500 Supplemental Payment Coverage 

Loss of Earnings: 

$500 per day Supplemental Payment Coverage 

n. 

Covered Professional Services (as defined in the Policy and/or by Endorsement): 

Real Estate Appraisal and Valuation: 

Yes 

No 

Residential Property 

Yes 

Commercial Property: 

Yes 

Bodily Laury and Property Damage Caused 

During Appraisal Inspection ($100,000 Scb.Limit): 

Yes 

[bie “ves”, added by endorsencas) 

Right of Way Agent and Relocation: 

Yes 

Machinery and Equpmear Valuation 

Yes 

Personal Property Appraisal 

Yes 

If "yes", added by endorsement) 

Real Estate Sales/ Brokerage: 

Yes 

If "yes", added by endorsement) 

Aspen American Tnsurance Company 

Page Lof 2 

LIADOL (04/19) 

709 Lodge Lane, Kalamazoo, MI 49009

Page 31

Errors and Omission Insurance - Page 2 

Borrower: Matthew McCamman 

File No.: 

46921879-46921880 

Property Address: 223 W Dutton St 

Case No.: 9500059303 

City: Kalamazoo 

State: MI 

Zip: 49007-5112 

Lender: Consumers Credit Union 

CERTIFICATE OF INSURANCE 

Producer: 

P.O. Box 1319 

Santa Barbara, CA 93102-1319 

LIA ADMINISTRATORS & INSURANCE SERVICES 

Issue Date: 12/19/2022 

This Certificate is issued as a matter of information caly and 

confers no rights upon the Certificate Holder. 

This Certificate 

doas not amend, extond or alter the coverage afforded by the 

policy below, 

Insured: 

124782 

KALAMAZOO APPRAISAL SERVICE, INC 

ACURA VALUATION, INC 

709 Lodge Lane 

Kalamazoo, MI 49009 

Fax Number: 269-344-5732 

COMPANY AFFORDING COVERAGE 

Aspen American Insurance Company 

Rote 

Autherized Representative 

by the insurance policy 

This is to certify thal the policy of insurance listed below has been issved to the Insured named above for the policy period indicated. 

Notwithstanding any requirement, term of condition of any contract or other document with respect 1 which this Certificate may be 

issued or may pertain, the insurance afforded by the policy described herein is subject to all the terms, exclusions and conditions 

of such policy. Limits shown may have been reduced by paid claims, 

DISCLAIMER: This certificate of insurance docs not affirmatively or negatively amend, extend, or alter the coverage afforded 

TYPE OF INSURANCE 

POLICY NUMBER 

EFFECTIVE DATE 

EXPIRATION DATE 

LIMITS 

Professional Lisbility 

AAlO04230-08 

017272023 

0172772024 

Fach Claim 

General Aggregate 

$ 1,000,900 

$ 2,000,000 

Professional Services as defined in the policy 

Description of Operations/locations/Special Ttems 

Certificate Holder: 

KALAMAZOO APPRAISAL SERVICE, INC. 

ACTIRA VALUATION, INC. 

709 Lodge Lane 

Kalamazoo, MI 49009 

Cancellation: 

SHOULD ANY OF THE ABOVE DESCRIBED POLICIES 

BE CANCELLED BEFORE THE EXPIRATION DATE 

THEREOF, NOTICE WILL BE DELIVERED IN 

ACCORDANCE WITH THE POLICY PROVISIONS. 

LIA00O1 (11/97) 

Insured Copy 

709 Lodge Lane, Kalamazoo, MI 49009

Page 32

Acura Valuation, Inc. 

Real Estate Appraisers 

9500059303 

File No. 46921879-46921880 

wikkkikik INVOICE *r¥+krwre 

File Number: 46921879-46921880 

Carrie Harrison 

Consumers Credit Union 

7200 Elm Valley Drive 

Kalamazoo, MI 49009 

Borrower 

: 

Matthew McCamman 

Invoice # 

: 

46921879-46921880 

Order Date 

: 

02/27/2023 

Reference/Case #: 

9500059303 

PO Number : 

223 W Dutton St 

Kalamazoo, MI 49007-5112 

Appraisal fee for Income property 

Form 1025 and Form 216 

Invoice Total 

State Sales Tax @ 

Deposit 

Deposit 

Amount Due 

Terms: 

Cash upon receipt ! 

Please Make Check Payable To: 

Acura Valuation, Inc. 

709 Lodge Lane 

Kalamazoo, MI 49009 

Fed. I.D. #: 38-2684192 

03/09/2023 

Thank you! 

We appreciate your Business 

! 

$ 

700.00 

LR 

$ 

700.00 

$ 

0.00 

(s 

) 

CI ) 

$ 

700.00 

709 Lodge Lane, Kalamazoo, MI 49009

Page 33

Form NIV5 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Paul Steele

Paul Steele

Certified Appraisers of Greater Kalamazoo, LLC

6335 Parkview Ave

Kalamazoo, MI 49009

269-329-0159

Client - Matt McCamman

Client - Matt McCamman

Address not Provided

, 

(269) 547-5991

mattmccamman@gmail.com

1210241

12/10/2024

1210241

1210241

Client - Matt McCamman

Client - Matt McCamman

N/A

223 W Dutton St

Kalamazoo

Kalamazoo

MI

49007

BLEYKERS ADDITION E 37 FT OF LOT 95

2-4 Unit Appraisal

800.00

800.00

12/16/2024

Paid in Full

800.00

800.00

0.00

INVOICE

FROM:

Telephone Number:

Fax Number:

TO:

Telephone Number:

Fax Number:

Alternate Number:

E-Mail:

INVOICE NUMBER

DATE

REFERENCE

Internal Order #:

Lender Case #:

Client File #:

Main File # on form:

Other File # on form:

Federal Tax ID:

Employer ID:

Lender:

Client:

Purchaser/Borrower:

Property Address:

City:

County:

State:

Zip:

Legal Description:

$

DESCRIPTION

FEES

AMOUNT

SUBTOTAL

PAYMENTS

AMOUNT

Check #:

Date:

Description:

Check #:

Date:

Description:

Check #:

Date:

Description:

SUBTOTAL

TOTAL DUE

Page 34

Form GA1 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

223 W Dutton St

BLEYKERS ADDITION E 37 FT OF LOT 95

Kalamazoo, MI 49007

Client - Matt McCamman

Address not Provided

12/31/2023

Paul James Steele

Certified Appraisers of Greater Kalamazoo, LLC

Opinion of Market Value as of 12/31/2023: $141,000

APPRAISAL OF REAL PROPERTY

LOCATED AT:

FOR:

AS OF:

BY:

Page 35

1210241

N/A

223 W Dutton St

Kalamazoo

Kalamazoo

MI

49007

Client - Matt McCamman

Cover Page .........................................................................................................................................................................................................................

Table of Contents ...............................................................................................................................................................................................................

GP 2-4 Unit ........................................................................................................................................................................................................................

Additional Comparables 4-6 ................................................................................................................................................................................................

GP 2-4 Unit Certifications Addendum ..................................................................................................................................................................................

Property History ..................................................................................................................................................................................................................

Subject Photos ...................................................................................................................................................................................................................

Photograph Addendum .......................................................................................................................................................................................................

Photograph Addendum .......................................................................................................................................................................................................

Photograph Addendum .......................................................................................................................................................................................................

Rentals Photos 1-3 .............................................................................................................................................................................................................

Comparable Photos 1-3 ......................................................................................................................................................................................................

Comparable Photos 4-6 ......................................................................................................................................................................................................

Building Sketch ...................................................................................................................................................................................................................

Aerial Map ..........................................................................................................................................................................................................................

Location Map .....................................................................................................................................................................................................................

Environmental Addendum ...................................................................................................................................................................................................

Multi-Purpose Supplemental Addendum ..............................................................................................................................................................................

Supplemental Addendum ....................................................................................................................................................................................................

USPAP Identification ...........................................................................................................................................................................................................

1

2

3

7

8

10

11

12

13

14

15

16

17

18

19

20

21

23

25

26

Form TOCNP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Borrower

Lender/Client

File No.

Property Address

City

County

State

Zip Code

TABLE OF CONTENTS

Page 36

Paul Steele

1210241

2-4 UNIT RESIDENTIAL APPRAISAL REPORT

223 W Dutton St

Kalamazoo

49007

Kalamazoo

BLEYKERS ADDITION E 37 FT OF LOT 95

06-22-153-001

2023

3,256.54

MCCAMMAN, MATTHEW

N/A

Kalamazoo City

28020

0006.01

The intended use of this appraisal is to obtain market value as of the effective date of this appraisal for taxation appeal purposes.

Client - Matt McCamman

Address Not Provided

Paul James Steele

6335 Parkview Avenue, Kalamazoo, MI 49009

300

157

150

The neighborhood boundaries are

Academy Street to the north, Howard to the south, Jasper to the east, and Oakland Drive to the west. The Subject neighborhood is an

suburban area, located within the City limits of Kalamazoo. The neighborhood is proximate to schools, shopping and employment.

Kalamazoo, Battle Creek, and Portage supply the area with steady employment. The neighborhood has average market appeal in this market

at this time. The appraiser has researched the market thru the local MLS, and has determined 2-4 unit values have remained stable. There

were 66 sales of 2-4 unit homes located in the Subject School district in the prior 12 months, as compared to 94 in the prior 12 months. An

analysis of the MLS indicates average marketing time of 1-3 months. Average days on the market for the Subject neighborhood is 79 days.

39.96x165

6,593 sf Sq.Ft.

RM-36

Residential Multi Family

Multi family residence

See addenda for highest and best use analysis.

Asphalt

City Standards

Asphalt

Yes

39.96

Level

Rectangular

Appears Adequate

Residential

26077C0187E

7/31/2024

The site is a level parcel located in Kalamazoo City and is serviced by Kalamazoo Public Schools. This home qualifies for the

Kalamazoo Promise. The Kalamazoo Promise guarantees college tuition for youths who gradate Kalamazoo Public Schools and attend

colleges and universities in Michigan. The driveway is shared with the neighbor to the west and no maintenance agreement is in place.

Traditional

107

Concrete

Wood

Shingle

Yes-Alum

Yes

None

Full

None Know

Typical

None Known

1,100

Open

Concrete

FWAx2

Gas

Yesx2

None

Vinyl-Wood/fair

Plaster-Drywall/avg.

Wood/avg.

Vinyl/avg.

Ceramic/fair

Wood/avg.

1 FP

None

Wood

Enclosed

None

Asphalt-Gravel

1,100

1,291

3,492

Form GP2-4 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:

SUBJECT

Property Address:

City:

State:

Zip Code:

County:

Legal Description:

Assessor's Parcel #:

Tax Year:

R.E. Taxes: $

Special Assessments: $

Current Owner of Record:

Borrower (if applicable):

Occupant:

Owner

Tenant

Vacant

Project Type:

PUD

Other (describe)

HOA: $

per yr.

per mo.

Market Area Name:

Map Reference:

Census Tract:

ASSIGNMENT

The purpose of this appraisal is to develop an opinion of:

Market Value (as defined), or

other type of value (describe)

This report reflects the following value (if not Current, see comments):

Current (the Inspection Date is the Effective Date)

Retrospective

Prospective

Approaches developed for this appraisal:

Sales Comparison Approach

Cost Approach

Income Approach

(See Reconciliation Comments and Scope of Work)

Property Rights Appraised:

Fee Simple

Leasehold

Leased Fee

Other (describe)

Intended Use:

Intended User(s) (by name or type):

Client:

Address:

Appraiser:

Address:

MARKET AREA DESCRIPTION

Location:

Urban

Suburban

Rural

Built up:

Over 75%

25-75%

Under 25%

Growth rate:

Rapid

Stable

Slow

Property values:

Increasing

Stable

Declining

Demand/supply:

Shortage

In Balance

Over Supply

Marketing time:

Under 3 Mos.

3-6 Mos.

Over 6 Mos.

Predominant

Occupancy

Owner

Tenant

Vacant (0-5%)

Vacant (>5%)

2 - 4 Unit Housing

PRICE

$(000)

Low

High

Pred

AGE

(yrs)

Present Land Use

One-Unit

2-4 Unit

Multi-Unit

Comm'l

Change in Land Use

Not Likely

Likely *

In Process *

* To:

Market Area Boundaries, Description, and Market Conditions (including support for the above characteristics and trends):

SITE DESCRIPTION

Dimensions:

Site Area:

Zoning Classification:

Description:

Zoning Compliance:

Legal

Legal nonconforming (grandfathered)

Illegal

No zoning

Are CC&Rs applicable?

Yes

Unknown

Have the documents been reviewed?

Yes

Ground Rent (if applicable)

Comments:

Highest & Best Use as improved:

Present use, or

Other use (explain)

Actual Use as of Effective Date:

Use as appraised in this report:

Summary of Highest & Best Use:

Utilities

Public

Other

Provider/Description

Off-site Improvements

Type

Public Private

Electricity

Gas

Water

Sanitary Sewer

Storm Sewer

Telephone

Multimedia

Street

Width

Surface

Curb/Gutter

Sidewalk

Street Lights

Alley

Frontage

Topography

Size

Shape

Drainage

View

Other site elements:

Inside Lot

Corner Lot

Cul de Sac

Underground Utilities

Other (describe)

FEMA Spec'l Flood Hazard Area:

Yes

No FEMA Flood Zone:

FEMA Map #:

FEMA Map Date:

Site Comments:

DESCRIPTION OF THE IMPROVEMENTS

General Description

# of Units

Accessory Unit

# Stories

# Bldgs.

Type

Det.

Att.

Design (Style)

Existing

Proposed

Und.Cons.

Actual Age (Yrs.)

Effective Age (Yrs.)

Exterior Description

Foundation

Exterior Walls

Roof Surface

Gutters & Dwnspts.

Window Type

Storm/Screens

Foundation

Slab

Crawl Space

Basement

Sump Pump

Dampness

Settlement

Infestation

Basement

None

Area Sq. Ft.

% Finished

Ceiling

Walls

Floor

Outside Entry

Heating

Type

Fuel

Cooling

Central

Other

Interior Description

Floors

Walls

Trim/Finish

Bath Floor

Bath Wainscot

Doors

Appliances

Refrigerator

Range/Oven

Disposal

Dishwasher

Fan/Hood

Microwave

Washer/Dryer

Attic

None

Stairs

Drop Stair

Scuttle

Doorway

Floor

Heated

Finished

Amenities

Fireplace(s) #

Patio

Deck

Porch

Fence

Pool

Woodstove(s) #

Car Storage

None

Garage

# of cars (

Tot.)

Attach.

Detach.

Blt.-In

Carport

Driveway

Surface

Unit # 1 contains:

Rooms;

Bedrooms;

Bath(s);

Sq.Ft. GLA Above Grade

Unit # 2 contains:

Rooms;

Bedrooms;

Bath(s);

Sq.Ft. GLA Above Grade

Unit # 3 contains:

Rooms;

Bedrooms;

Bath(s);

Sq.Ft. GLA Above Grade

Unit # 4 contains:

Rooms;

Bedrooms;

Bath(s);

Sq.Ft. GLA Above Grade

The Total Gross Building Area

for the Subject Property is:

Sq.Ft.

4/2007

Page 37

1210241

2-4 UNIT RESIDENTIAL APPRAISAL REPORT

No additional energy efficient items or special features noted.

The Subject displays average quality construction. The

Subject improvements appear to be in average to fair condition. Unit 1 is considered to be in fair condition, and Unit 2 is considered to be in

average condition. The appraised value included in this report will take into consideration the current as is condition of the Subject units. Per

Owner, recent improvements since purchase include: central air units. Unit 2 has access to a finished attic. More than normal physical

depreciation. No functional or external obsolescence.

223 W Dutton St

Kalamazoo, MI 49007

2,200

0.92

Owner

06/24-06/25

Average

Traditional

~88

Avg-Fair

3,492

2,391

1,100

1,291

Basement

Full

Garage

None

Other

Enclosed Por,Deck

435 S Westnedge Ct

Kalamazoo, MI 49008

0.23 miles SW

1,650

1.12

MichRIC #23001150;DOM 82

M to M

Average

Traditional

113

Avg-Good

-200

2,198

1,474

1.0

750

1.0

724

+50

Full

None

Covered Porch

-150

1,500

809 Oak St

Kalamazoo, MI 49008

0.33 miles W

1,545

0.69

MichRIC #23005654;DOM 31

M to M

Average

Traditional

128

Average

-50

3,312

2,253

1.0

1,194

-50

1.0

1,059

Full

None

Enclosed Porchx3

-100

1,445

436 S Westnedge Ct

Kalamazoo, MI 49008

0.23 miles SW

1,680

1.22

MichRIC #23001151;DOM 54

M to M

Average

Traditional

105

Avg-Good

-200

2,064

1,376

1.0

688

1.0

688

+50

Full

None

CovPor,Deck,Patio

-150

1,530

Rents vary by amenities offered, bedroom count, and utilities paid by lessor. Information was obtained from previous

MLS listings. The comparable rentals used have similar functionality and style as the Subject. There appraiser adjusted for the bonus room

Comparable rentals 1 and 3.

06/24

06/25

950

600

06/24

06/25

1,250

1,000

2,200

1,600

Lease data was

unavailable to the appraiser, and the data

above was provided by the owner.

The actual rents noted above were supplied via a conversation

with the current owner. The appraiser has researched typical rents for duplexes in the area and has determined the market rents are less than the owner

unverified rents. Rental amounts for 1 bedroom units range between $600 and $1030, and rental amounts for 2 bedroom units range between $630 and $1100.

The opinion of market rents will be used in the income approach noted below.

435 S Westnedge, Kalamazoo MI 49008

Unknown

165,000

1,650

100.00

809 Oak St, Kalamazoo MI 49008

Unknown

150,250

1,545

97.25

713 W Vine St, Kalamazoo MI 49008

Unknown

122,000

1,280

95.31

1,600

153,600

The GRM of 96 is typical for multi family homes of the Subjects age and

functionality and is supported by the recent sales noted above. The appraiser chose a market rent for unit 1 on the lower end of the range

noted above due to condition. The appraiser chose a market closer to the higher end for Unit 2 due to the bonus room (finished attic).

Form GP2-4 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:

IMPROVEMENTS (cont.)

Additional features:

Describe the condition of the property (including physical, functional and external obsolescence):

COMPARABLE RENTAL ANALYSIS

The following properties are representative current, similar, and proximate rental properties comparable to the subject property. This analysis is intended to support the

opinion of the market rent for the subject property.

FEATURE

SUBJECT

COMPARABLE RENTAL # 1

COMPARABLE RENTAL # 2

COMPARABLE RENTAL # 3

Address

Proximity to Subject

Current Monthly Rent

Less: Utilities

–$

Furnishings

–$

Plus: Rent Concess.

Adj. Monthly Rent

Adj. Mo. Rent / GLA

/sq.ft.

Data Source(s)

RENT ADJUSTMENTS

DESCRIPTION

+/– $ Adjust

DESCRIPTION

+/– $ Adjust

DESCRIPTION

+/– $ Adjust

Rent Control

Yes

Lease Date

Location

Design (Style)

Age

Condition

Total GBA

sq.ft.

Total # of Units

Total GLA

sq.ft.

Unit Breakdown

Tot. Bed.

Baths

GLA

Tot. Bed.

Baths

GLA

Tot. Bed.

Baths

GLA

Tot. Bed.

Baths

GLA

Unit # 1

Unit # 2

Unit # 3

Unit # 4

Net Rental Adjustment (Total)

–

Indicated Monthly Market Rent

Analysis of rental data:

SUBJECT RENT SCHEDULE

Rent Schedule:

The appraiser must reconcile the applicable indicated monthly market rents to provide an opinion of the market rent for each unit in the subject property.

Leases

Actual Rents

Opinion of Market Rent

Lease Dates

Per Unit

Total

Rents

Per Unit

Total

Rents

Unit #

Begin Date

End Date

Unfurnished

Furnished

Unfurnished

Furnished

Comments on lease data

Total Actual Monthly Rent

Total Gross Monthly Rent

Other Monthly Income (itemize)

Total Actual Monthly Income

Total Estimated Monthly Income

Utilities included in estimated rents

Electric

Water

Sewer

Gas

Oil

Trash collection

Multimedia

Telephone

Other

Comments on actual or estimated rents and other monthly income (including personal property)

INCOME APPROACH

INCOME APPROACH TO VALUE

The Income Approach was not developed for this appraisal.

Gross Rent Multiplier Analysis:

Address

Date

Sale Price

Gross Rent

GRM

Comments

Opinion of Monthly Market Rent $

X Gross Rent Multiplier

= $

Indicated Value by Income Approach

Summary of Income Approach (including support for market rent and GRM):

4/2007

Page 38

1210241

2-4 UNIT RESIDENTIAL APPRAISAL REPORT

MichRIC, Assessor

05/17/2023

130,000

Assessor,MLS

The Subject has transferred / sold in the 

past 36 months. This prior sale is evidenced by assessor records and MLS #22051581. Per MLS, none 

of the Comparable Sales / Listings used in this appraisal have sold within 12 months prior to the sale 

dated used in this appraisal, unless noted. 

223 W Dutton St

Kalamazoo, MI 49007

1,600

96

Inspection

Pub. Records

Fee Simple

Average

6,593 sf

Residential

Traditional

Average

107

Avg-Fair

3,492

2

2,391

4

1

1

5

2

1

Full

None

2 Unit

FWAx2/CACx2

None

6op

EncPor,Deck

Fence,Pool,Etc.

None

724 McCourtie St

Kalamazoo, MI 49008

0.59 miles SW

152,000

65.80

1,700

89.41

76,000

19,000

38,000

MichRIC #23023603;DOM 8

BS&A Internet Services

ArmLth

Cash;0

s07/23;c07/23

Fee Simple

Average

5227 sf

+683

Residential

Traditional

Average

118

Average

-7,600

2,310

2

1,530

4

2

1.0

-5,000

4

2

1.0

+5,000

Full

None

2 Unit

FWAx2/NoAC

+6,000

None

4op,Garage

-5,000

Cov Porch

None

-5,917

146,083

63.24

73,042

18,260

36,521

223 W Dutton St

Kalamazoo, MI 49007

Less than 0.01 miles 

130,000

37.23

1,600

81.25

65,000

14,444

43,333

MichRIC #22051581;DOM 48

BS&A Internet Services

ArmLth

Conv;0

s05/23;c02/23

Fee Simple

Average

6593 sf

Residential

Traditional

Average

107

Fair

+6,500

3,492

2

2,391

4

1

1.0

5

2

1.0

Full

None

2 Unit

FWAx2/NoAC

+6,000

None

6op

EncPor,Deck

None

12,500

142,500

40.81

71,250

15,833

47,500

809 Oak St

Kalamazoo, MI 49008

0.33 miles W

153,260

46.27

1,545

99.20

76,630

17,029

30,652

MichRIC #23005654;DOM 31

BS&A Internet Services

ArmLth

Conv;3000

-3,000

s04/23;c03/23

Fee Simple

Average

3528 sf

+1,532

Residential

Traditional

Average

128

Average

-7,513

3,312

2

2,253

4

2

1.0

-5,000

5

3

1.0

Full

None

2 Unit

FWAx2/NoAC

+6,000

None

5op

EncPorx3

None

-7,981

145,279

43.86

72,640

16,142

29,056

50.33

3,492

175,752

70,026

2

140,052

16,278

9

146,502

37,711

3

113,133

All of the Comparables have sold in the past 14 months and are located within the Subject 

neighborhood. Due to the lack of similar Comparable Sales located proximate to the Subject, Comparable Sales of varying square footage, 

garages, condition, and bedroom count had to be used. Equal consideration was given to all of the Comparables, with most weight given to 

Comparable sale 2 due to this being the last sale of the Subject, and Comparable sale 6 due to similarities in bedroom count. All of the 

Comparables are competitive duplex homes, located in or near the Subject neighborhood. The Subject is compatible with the immediate 

neighborhood. 

141,000

Form GP2-4 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:

TRANSFER HISTORY

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):

1st Prior Subject Sale/Transfer

Date:

Price:

Source(s):

2nd Prior Subject Sale/Transfer

Date:

Price:

Source(s):

Analysis of sale/transfer history and/or any current agreement of sale/listing:

SALES COMPARISON APPROACH

SALES COMPARISON APPROACH TO VALUE (if developed)

The Sales Comparison Approach was not developed for this appraisal.

FEATURE

SUBJECT

COMPARABLE SALE # 1

COMPARABLE SALE # 2

COMPARABLE SALE # 3

Address

Proximity to Subject

Sale Price

$

$

$

$

Sale Price/GBA

$

/sq.ft.

$

/sq.ft.

$

/sq.ft.

$

/sq.ft.

Gross Monthly Rent

$

$

$

$

Gross Rent Multiplier

Price per Unit

$

$

$

$

Price per Room

$

$

$

$

Price per Bedroom

$

$

$

$

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS

DESCRIPTION

DESCRIPTION

+/– $ Adjust

DESCRIPTION

+/– $ Adjust

DESCRIPTION

+/– $ Adjust

Rent Control

Yes

No

Yes

No

Yes

No

Yes

No

Sales or Financing

Concessions

Date of Sale/Time

Rights Appraised

Location

Site

View

Design (Style)

Quality of Construction

Age

Condition

Total GBA

sq.ft.

sq.ft.

sq.ft.

sq.ft.

Total # of Units

Total GLA

sq.ft.

sq.ft.

sq.ft.

sq.ft.

Total

Bdrms

Baths

Total

Bdrms

Baths

Total

Bdrms

Baths

Total

Bdrms

Baths

Unit Breakdown

Unit # 1

Unit # 2

Unit # 3

Unit # 4

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Parking

Porch/Patio/Deck

Net Adjustment (Total)

+

–

+

–

+

–

$

$

$

Adjusted Sale Price

of Comparables

$

$

$

Adjusted Price of Comparables per GBA

$

$

$

Adjusted Price of Comparables per Unit

$

$

$

Adjusted Price of Comparables per Room

$

$

$

Adjusted Price of Comparables per Bedroom

$

$

$

Ind. Val. per GBA

$

X

SF GBA = $

Ind. Val. per Unit

$

X

Units

= $

Ind. Val. per Room

$

X

Rooms = $

Ind. Val. per Bedroom

$

X

Bedrooms = $

Summary of Sales Comparison Approach

Indicated Value by Sales Comparison Approach $

Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.

4/2007

Page 39

1210241

2-4 UNIT RESIDENTIAL APPRAISAL REPORT

Due to the difficulties in estimating accrued deprecation on older

structures, the Cost Approach to value is not considered to be a credible

approach to value and therefor has not been developed.

141,000

153,600

Value derived from the Sales Comparison Approach. This approach is the most reliable. It reflects the negotiations and sale

price determination of typical buyers and sellers. The Cost approach to value was not deemed applicable and therefore was not developed.

141,000

12/31/2023

Scope of Work

Limiting Cond./Certification

Narrative Addendum

Photograph Addenda

Sketch Addendum

Map Addenda

Cost Addendum

Flood Addendum

Additional Sales

Additional Rentals

Income/Expense Analysis

Hypothetical Conditions

Extraordinary Assumptions

Client - Matt McCamman

mattmccamman@gmail.com

Address Not Provided

Paul James Steele

Certified Appraisers of Greater Kalamazoo, LLC

(269) 329-0159

appraisals@caogk.com

01/23/2025

1204005814

Certified Residential Appraiser

07/31/2025

12/16/2024

Form GP2-4 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:

COST APPROACH

COST APPROACH TO VALUE (if developed)

The Cost Approach was not developed for this appraisal.

Provide adequate information for replication of the following cost figures and calculations.

Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value):

ESTIMATED

REPRODUCTION OR

REPLACEMENT COST NEW

Source of cost data:

Quality rating from cost service:

Effective date of cost data:

Comments on Cost Approach (gross living area calculations, depreciation, etc.):

OPINION OF SITE VALUE

DWELLING

Sq.Ft. @ $

Garage/Carport

Sq.Ft. @ $

Total Estimate of Cost-New

Less

Physical

Functional

External

Depreciation

=$(

)

Depreciated Cost of Improvements

''As-is'' Value of Site Improvements

INDICATED VALUE BY COST APPROACH

Estimated Remaining Economic Life (if required):

Years

PUD

PROJECT INFORMATION FOR PUDs (if applicable)

The Subject is part of a Planned Unit Development.

Legal Name of Project:

Describe common elements and recreational facilities:

RECONCILIATION

Indicated Value by: Sales Comparison Approach $

Income Approach $

Cost Approach (if developed) $

Final Reconciliation

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,

subject

the following required inspection based on the Extraordinary Assumption that the condition or deficiency does not require alteration or repair:

This report is also subject to other Hypothetical Conditions and/or Extraordinary Assumptions as specified in the attached addenda.

Based on the degree of inspection of the subject property, as indicated below, defined Scope of Work, Statement of Assumptions and Limiting Conditions,

and Appraiser’s Certifications, my (our) Opinion of the Market Value (or other specified value type), as defined herein, of the real property that is the subject

of this report is:

, as of:

, which is the effective date of this appraisal.

If indicated above, this Opinion of Value is subject to Hypothetical Conditions and/or Extraordinary Assumptions included in this report. See attached addenda.

ATTACHMENTS

A true and complete copy of this report contains

pages, including exhibits which are considered an integral part of the report. This appraisal report may not be

properly understood without reference to the information contained in the complete report.

Attached Exhibits:

SIGNATURES

Client Contact:

Client Name:

E-Mail:

Address:

APPRAISER

Appraiser Name:

Company:

Phone:

Fax:

E-Mail:

Date of Report (Signature):

License or Certification #:

State:

Designation:

Expiration Date of License or Certification:

Inspection of Subject:

Interior & Exterior

Exterior Only

None

Date of Inspection:

SUPERVISORY APPRAISER (if required)

or CO-APPRAISER (if applicable)

Supervisory or

Co-Appraiser Name:

Company:

Phone:

Fax:

E-Mail:

Date of Report (Signature):

License or Certification #:

State:

Designation:

Expiration Date of License or Certification:

Inspection of Subject:

Interior & Exterior

Exterior Only

None

Date of Inspection:

4/2007

Page 40

1210241

ADDITIONAL COMPARABLE SALES

223 W Dutton St

Kalamazoo, MI 49007

1,600

96

Inspection

Pub. Records

Fee Simple

Average

6,593 sf

Residential

Traditional

Average

107

Avg-Fair

3,492

2

2,391

4

1

1

5

2

1

Full

None

2 Unit

FWAx2/CACx2

None

6op

EncPor,Deck

Fence,Pool,Etc.

None

823 Oakland Dr

Kalamazoo, MI 49008

0.67 miles W

139,500

57.84

1,675

83.28

69,750

17,438

34,875

MichRIC #23001086;DOM 5

BS&A Internet Services

ArmLth

Conv;0

s02/23;c01/23

Fee Simple

Average

3908 sf

+1,342

Residential

Traditional

Average

118

Average

-6,975

2,412

2

1,728

4

2

1.0

-5,000

4

2

1.0

+5,000

Full

None

2 Unit

FWAx2/NoAC

+6,000

None

4op

Cov Porch

None

367

139,867

57.99

69,934

17,483

34,967

944 Grant St

Kalamazoo, MI 49008

0.56 miles W

130,000

43.23

1,140

114.04

65,000

13,000

32,500

MichRIC #22046491;DOM 24

BS&A Internet Services

ArmLth

Conv;0

s01/23;c11/22

Fee Simple

Average

5227 sf

+683

Residential

Traditional

Average

113

Fair

+6,500

3,007

2

2,073

5

2

1.0

-5,000

5

2

1.0

+5,000

Full

None

2 Unit

FWAx2/CACx1

+3,000

None

2op,Garage

-6,000

CovPorx3,EncPor

None

4,183

134,183

44.62

67,092

13,418

33,546

1112 Oak St

Kalamazoo, MI 49008

0.46 miles SW

160,000

61.66

1,450

110.34

80,000

22,857

53,333

MichRIC #22033914;DOM 33

BS&A Internet Services

ArmLth

Conv;3200

-3,200

s10/22;c09/22

Fee Simple

Average

6534 sf

+30

Residential

Traditional

Average

147

Avg-Good

-15,680

2,595

2

1,878

3

1

1.0

4

2

1.0

+5,000

Full

None

2 Unit

FWAx2/CACx2

None

3op,Garage,Cport

-6,000

None

None

-19,850

140,150

54.01

70,075

20,021

46,717

Form GP2-4.(AC) - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

4

5

6

File No.:

SALES COMPARISON APPROACH

FEATURE

SUBJECT

COMPARABLE SALE #

COMPARABLE SALE #

COMPARABLE SALE #

Address

Proximity to Subject

Sale Price

$

$

$

$

Sale Price/GBA

$

/sq.ft.

$

/sq.ft.

$

/sq.ft.

$

/sq.ft.

Gross Monthly Rent

$

$

$

$

Gross Rent Multiplier

Price per Unit

$

$

$

$

Price per Room

$

$

$

$

Price per Bedroom

$

$

$

$

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS

DESCRIPTION

DESCRIPTION

+/– $ Adjust

DESCRIPTION

+/– $ Adjust

DESCRIPTION

+/– $ Adjust

Rent Control

Yes

No

Yes

No

Yes

No

Yes

No

Sales or Financing

Concessions

Date of Sale/Time

Rights Appraised

Location

Site

View

Design (Style)

Quality of Construction

Age

Condition

Total GBA

sq.ft.

sq.ft.

sq.ft.

sq.ft.

Total # of Units

Total GLA

sq.ft.

sq.ft.

sq.ft.

sq.ft.

Total

Bdrms

Baths

Total

Bdrms

Baths

Total

Bdrms

Baths

Total

Bdrms

Baths

Unit Breakdown

Unit # 1

Unit # 2

Unit # 3

Unit # 4

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Parking

Porch/Patio/Deck

Net Adjustment (Total)

+

–

+

–

+

–

$

$

$

Adjusted Sale Price

of Comparables

$

$

$

Adjusted Price of Comparables per GBA

$

$

$

Adjusted Price of Comparables per Unit

$

$

$

Adjusted Price of Comparables per Room

$

$

$

Adjusted Price of Comparables per Bedroom

$

$

$

Summary of Sales Comparison Approach

Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.

4/2007

Page 41

1210241

Assumptions, Limiting Conditions & Scope of Work

223 W Dutton St

Kalamazoo

49007

Client - Matt McCamman

Address Not Provided

Paul James Steele

6335 Parkview Avenue, Kalamazoo, MI 49009

STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS

- The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The

appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised

on the basis of it being under responsible ownership. The future operation of the property assumes skilled and adequate management but

are not represented to be historically based.

- The appraiser may have provided a sketch in the appraisal report to show approximate dimensions of the improvements, and any such

sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its

size. Unless otherwise indicated, a Land Survey was not performed.

- If so indicated, the appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or

other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area.

Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.

- The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific

arrangements to do so have been made beforehand.

- If the cost approach is included in this appraisal, the appraiser has estimated the value of the land in the cost approach at its highest and

best use, and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in

conjunction with any other appraisal and are invalid if they are so used. Unless otherwise specifically indicated, the cost approach value is

not an insurance value, and should not be used as such.

- The appraiser has noted in the appraisal report any adverse conditions (including, but not limited to, needed repairs, depreciation, the

presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property, or that he or she became

aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has

no knowledge of any hidden or unapparent conditions of the property, or adverse environmental conditions (including, but not limited to, the

presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are

no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will

not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such

conditions exist. Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as

an environmental assessment of the property.

- The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she

considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such

items that were furnished by other parties. All information furnished regarding rental rates, lease terms, or projections of income and

expense is from sources deemed reliable. No warranty or representation is made as to the accuracy thereof.

- The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional

Appraisal Practice, and any applicable federal, state or local laws.

- If this appraisal is indicated as subject to satisfactory completion, repairs, or alterations, the appraiser has based his or her appraisal

report and valuation conclusion on the assumption that completion of the improvements will be performed in a workmanlike manner.

- An appraiser's client is the party (or parties) who engage an appraiser in a specific assignment. Any other party acquiring this report from

the client does not become a party to the appraiser-client relationship. Any persons receiving this appraisal report because of disclosure

requirements applicable to the appraiser's client do not become intended users of this report unless specifically identified by the client at the

time of the assignment.

- The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public,

through advertising, public relations, news, sales, or by means of any other media, or by its inclusion in a private or public database.

- An appraisal of real property is not a 'home inspection' and should not be construed as such. As part of the valuation process, the

appraiser performs a non-invasive visual inventory that is not intended to reveal defects or detrimental conditions that are not readily

apparent. The presence of such conditions or defects could adversely affect the appraiser's opinion of value. Clients with concerns about

such potential negative factors are encouraged to engage the appropriate type of expert to investigate.

The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credible

assignment results, given the nature of the appraisal problem, the specific requirements of the intended user(s) and the intended use of the

appraisal report. Reliance upon this report, regardless of how acquired, by any party or for any use, other than those specified in this report

by the Appraiser, is prohibited. The Opinion of Value that is the conclusion of this report is credible only within the context of the Scope of

Work, Effective Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any

Hypothetical Conditions and/or Extraordinary Assumptions, and the Type of Value, as defined herein. The appraiser, appraisal firm, and

related parties assume no obligation, liability, or accountability, and will not be responsible for any unauthorized use of this report or its

conclusions.

Additional Comments (Scope of Work, Extraordinary Assumptions, Hypothetical Conditions, etc.):

Scope of Work:

The appraiser has at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the Subject property, (2)

inspect the neighborhood, (3) research, verify, and analyze data from reliable public and/or private sources, and (4) report his analysis,

opinions, and conclusions in this appraisal report.

Highest and Best Use Analysis Summary:

The four tests of highest and best use are: (1) legally permissible (2) physically possible (3) financially feasible and (4) most profitable.

The appraiser has researched allowed uses in the Subject zoning district and has determined the multi unit use is both legally permissible

and physically possible. It is not currently financially feasible to remove the improvements and improve with another home, therefor the most

profitable use is to keep the existing improvements. The highest and best use as improved is the current multi unit use.

The appraiser is using an assumption the home was in the same condition on the effective date of this report as the inspection date. If found

to be untrue, this may affect value.

Form GP2-4AD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:

Property Address:

City:

State:

Zip Code:

Client:

Address:

Appraiser:

Address:

1/2007

Page 42

1210241

Certifications

223 W Dutton St

Kalamazoo

MI

49007

Client - Matt McCamman

Address Not Provided

Paul James Steele

6335 Parkview Avenue, Kalamazoo, MI 49009

APPRAISER'S CERTIFICATION

I certify that, to the best of my knowledge and belief:

- The statements of fact contained in this report are true and correct.

- The credibility of this report, for the stated use by the stated user(s), of the reported analyses, opinions, and conclusions are limited only 

by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and 

conclusions.

- I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties 

involved.

- Unless otherwise indicated, I have performed no services, as an appraiser or in any other capacity, regarding the property that is the 

subject of this report within the three-year period immediately preceding acceptance of this assignment.

- I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.

- My engagement in this assignment was not contingent upon developing or reporting predetermined results.

- My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or 

direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence 

of a subsequent event directly related to the intended use of this appraisal.

- My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of 

Professional Appraisal Practice that were in effect at the time this report was prepared.

- I did not base, either partially or completely, my analysis and/or the opinion of value in the appraisal report on the race, color, religion, 

sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property, or of the present 

owners or occupants of the properties in the vicinity of the subject property.

- Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report.

- Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification.

Additional Certifications:

DEFINITION OF MARKET VALUE *:

Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite 

to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. 

Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions 

whereby:

1. Buyer and seller are typically motivated; 

2. Both parties are well informed or well advised and acting in what they consider their own best interests; 

3. A reasonable time is allowed for exposure in the open market;

4. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and 

5. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions 

granted by anyone associated with the sale. 

* This definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions 

Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System 

(FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), 

and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, 

FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated October 27, 1994.

Client - Matt McCamman

Client - Matt McCamman

mattmccamman@gmail.com

Address Not Provided

Paul James Steele

Certified Appraisers of Greater Kalamazoo, LLC

(269) 329-0159

appraisals@caogk.com

01/23/2025

1204005814

MI

Certified Residential Appraiser

07/31/2025

12/16/2024

Form GP2-4AD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

File No.:

Property Address:

City:

State:

Zip Code:

Client:

Address:

Appraiser:

Address:

SIGNATURES

Client Contact:

Client Name:

E-Mail:

Address:

APPRAISER

Appraiser Name:

Company:

Phone:

Fax:

E-Mail:

Date Report Signed:

License or Certification #:

State:

Designation:

Expiration Date of License or Certification:

Inspection of Subject:

Interior & Exterior

Exterior Only

None

Date of Inspection:

SUPERVISORY APPRAISER (if required)

or CO-APPRAISER (if applicable)

Supervisory or

Co-Appraiser Name:

Company:

Phone:

Fax:

E-Mail:

Date Report Signed:

License or Certification #:

State:

Designation:

Expiration Date of License or Certification:

Inspection of Subject:

Interior & Exterior

Exterior Only

None

Date of Inspection:

Copyright© 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited.

1/2007

Page 43

* COMPARABLE 12-MONTH PRIOR TRANSFER HISTORY *

(may include properties that were considered but not utilized as comparables)

724 Mccourtie St

-Transferred on 07/21/2022 for $0. It transferred from Kor Investments LLC to Koryto Cole C and John F and was a Quit Claim

Deed (Document #23862).

435 S Westnedge Ct

-No transfer history.

223 W Dutton St

-No transfer history.

809 Oak St

-No transfer history.

436 S Westnedge Ct

-Transferred on 07/06/2022 for $0. It transferred from Tardani Jacob A to Odyssey Beta LLC and was a Quit Claim Deed

(Document #24565).

-Transferred on 07/01/2022 for $85,400. It transferred from Sims David M and Judy A to Tardani Jacob A and was a Warranty

Deed (Document #24564).

823 Oakland Dr

-No transfer history.

944 Grant St

-No transfer history.

1112 Oak St

-Transferred on 04/26/2022 for $0. It transferred from Duisterhof Joseph and Marlena to Duisterhof Joseph J M and Marlena J

and was a Deed (Reg) (Document #21297).

713 W Vine St

-No transfer history.

* RENTAL 12-MONTH PRIOR TRANSFER HISTORY *

435 S Westnedge Ct

-Transferred on 05/19/2023 for $170,000. It transferred from Odyssey Alpha LLC to Osei Lewis and was a Warranty Deed

(Document #12980).

809 Oak St

-Transferred on 04/25/2023 for $153,260. It transferred from Curtis Brian to Folsom Zachariah and Corinne and was a Warranty

Deed (Document #9918).

436 S Westnedge Ct

-Transferred on 04/13/2023 for $175,000. It transferred from Odyssey Beta LLC to Madden Amber and was a Warranty Deed

(Document #7871).

Supplemental Addendum

Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

1210241

N/A

223 W Dutton St

Kalamazoo

49007

Client - Matt McCamman

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

File No.

Page 44

Form PICPIX.SR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Subject Photo Page

N/A

223 W Dutton St

Kalamazoo

Kalamazoo

MI

49007

Client - Matt McCamman

Subject Front

Sales Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

223 W Dutton St

2,391

9

3

2

Average

Residential

6,593 sf

Average

107

Subject Rear

Subject Street

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 45

Form PIC15 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Photograph Addendum

N/A

223 W Dutton St

Kalamazoo

Kalamazoo

MI

49007

Client - Matt McCamman

Front / Side

Front

Front / Side

Rear / Side

Rear

Rear / Side

Side / AC Units

Parking

Street

Enclosed Porch

Unit 1 - Living Room / Dining

Unit 1 - Living Room

Unit 1 - Bedroom

Unit 1 - Bath

Unit 1 - Bathtub

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 46

Form PIC15 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Subject Photograph Addendum

N/A

223 W Dutton St

Kalamazoo

Kalamazoo

MI

49007

Client - Matt McCamman

Unit 1 - Bath (2nd View)

Unit 1 - See comment

Unit 1 - See comment

Unit 1 - See comment

Unit 1 - See comment

Unit 1 - See comment

Unit 1 - Kitchen

Unit 1 - Kitchen (2nd View)

Basement

Basement

Basement

Mechanicals

Basement

Water Heaters

Furnace 1

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 47

Form PIC15 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Subject Photograph Addendum

N/A

223 W Dutton St

Kalamazoo

Kalamazoo

MI

49007

Client - Matt McCamman

Furnace 2

Unit 2 - Kitchen

Unit 2 - Kitchen (2nd View)

Unit 2 - Kitchen (3rd View)

Unit 2 - Hall

Unit 2 - Bath

Unit 2 - Bath (2nd View)

Unit 2 - Bedroom

Unit 2 - Bedroom

Unit 2 - Bedroom

Unit 2 - Finished Attic

Finished Attic (2nd View)

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 48

Form DLSTRNT.DS$C - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Rental Photo Page

N/A

223 W Dutton St

Kalamazoo

Kalamazoo

MI

49007

Client - Matt McCamman

Rental 1

Proximity to Subj.

GBA

Age/Year Built

435 S Westnedge Ct

0.23 miles SW

2,198

113

Rental 2

Proximity to Subj.

GBA

Age/Year Built

809 Oak St

0.33 miles W

3,312

128

Rental 3

Proximity to Subj.

GBA

Age/Year Built

436 S Westnedge Ct

0.23 miles SW

2,064

105

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 49

Form PICPIX.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Comparable Photo Page

N/A

223 W Dutton St

Kalamazoo

Kalamazoo

MI

49007

Client - Matt McCamman

Comparable 1

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

724 McCourtie St

0.59 miles SW

152,000

1,530

8

4

2

Average

Residential

5227 sf

Average

118

Comparable 2

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

223 W Dutton St

Less than 0.01 miles 

130,000

2,391

9

3

2

Average

Residential

6593 sf

Average

107

Comparable 3

Prox. to Subject

Sale Price

Gross Living Area

Total Rooms

Total Bedrooms

Total Bathrooms

Location

View

Site

Quality

Age

809 Oak St

0.33 miles W

153,260

2,253

9

5

2

Average

Residential

3528 sf

Average

128

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 50

Form PICPIX.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Comparable Photo Page

N/A

223 W Dutton St

Kalamazoo

Kalamazoo

MI

49007

Client - Matt McCamman

Comparable 4

Sales Price

G.B.A.

Age/Yr. Blt.

823 Oakland Dr

139,500

2,412

118

Comparable 5

Sales Price

G.B.A.

Age/Yr. Blt.

944 Grant St

130,000

3,007

113

Comparable 6

Sales Price

G.B.A.

Age/Yr. Blt.

1112 Oak St

160,000

2,595

147

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 51

Form SKT.BLDSKI - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Building Sketch

N/A

223 W Dutton St

Kalamazoo

Kalamazoo

MI

49007

Client - Matt McCamman

Borrower

Lender/Client

9'

24' 6"

9'

8' 6"

2'

7' 6"

2'

8' 6"

7'

32' 5"

7'

32' 5"

10' 2"

15'

14' 11"

5'

32' 5"

24' 6"

10' 4"

2'

12' 2"

2'

14' 8"

4' 6"

19' 6"

47' 4"

8' 6"

2'

7' 6"

2'

8' 6"

32' 5"

Enclosed Porch

Living

Kitchen

Bedroom

Kitchen

Bath

Bath

Dining

Bedroom

Living

Bedroom

Bonus Room

Unit 1

Unit 2

7' 1"

9' 1"

9'

5'

14' 11"

Uncovered Deck

TOTAL Sketch by a la mode

Area Calculations Summary

Living Area

Calculation Details

Unit 1

1100.08 Sq ft

 7.5 × 2

 = 

15

 32.42 × 5

 = 162.08

 47.33 × 19.5 = 

923

Unit 2

1063.67 Sq ft

 12.17 × 2

 = 24.33

 24.5 × 32.42 = 794.21

 14.92 × 15

 = 223.75

 4.5 × 4.75

 = 21.38

Unit 2

226.92 Sq ft

 32.42 × 7

 = 226.92

Total Living Area (Rounded):

2391 Sq ft

Non-living Area

Enclosed Porch

205.5 Sq ft

 24.5 × 7

 = 171.5

 2 × 8.5

 = 

17

 8.5 × 2

 = 

17

Wood Deck

122.58 Sq ft

 14.92 × 5

 = 74.58

 4 × 9.08

 = 36.33

 0.5 × 4 × 5.83 = 11.67

Property Address

City

County

State

Zip Code

Page 52

Form MAP.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Aerial Map

N/A

223 W Dutton St

Kalamazoo

Kalamazoo

MI

49007

Client - Matt McCamman

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 53

Form MAP.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Location Map

N/A

223 W Dutton St

Kalamazoo

Kalamazoo

MI

49007

Client - Matt McCamman

Borrower

Lender/Client

Property Address

City

County

State

Zip Code

Page 54

Form 69F - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Paul Steele

N/A

223 W Dutton St

Kalamazoo

49007

Client - Matt McCamman

Borrower

Lender/Client

ENVIRONMENTAL ADDENDUM

APPARENT* HAZARDOUS SUBSTANCES AND/OR DETRIMENTAL ENVIRONMENTAL CONDITIONS

Address

City

County

State

Zip code

*Apparent is defined as that which is visible, obvious, evident or manifest to the appraiser.

This universal Environmental Addendum is for use with any real estate appraisal. Only the statements which have been checked by the appraiser apply

to the property being appraised.

This addendum reports the results of the appraiser's routine inspection of and inquiries about the subject property and its surrounding area. It also states what assumptions

were made about the existence (or nonexistence) of any hazardous substances and/or detrimental environmental conditions.

The appraiser is not an expert environmental

inspector and therefore might be unaware of existing hazardous substances and/or detrimental environmental conditions which may have a negative effect on the safety and

value of the property. It is possible that tests and inspections made by a qualified environmental inspector would reveal the existence of hazardous materials and/or detrimental

environmental conditions on or around the property that would negatively affect its safety and value.

DRINKING WATER

Drinking Water is supplied to the subject from a municipal water supply which is considered safe. However the only way to be absolutely certain that the water meets

published standards is to have it tested at all discharge points.

Drinking Water is supplied by a well or other non-municipal source. It is recommended that tests be made to be certain that the property is supplied with adequate pure

water.

Lead can get into drinking water from its source, the pipes, at all discharge points, plumbing fixtures and/or appliances. The only way to be certain that water does not

contain an unacceptable lead level is to have it tested at all discharge points.

The value estimated in this appraisal is based on the assumption that there is an adequate supply of safe, lead-free Drinking Water.

Comments

SANITARY WASTE DISPOSAL

Sanitary Waste is removed from the property by a municipal sewer system.

Sanitary Waste is disposed of by a septic system or other sanitary on site waste disposal system. The only way to determine that the disposal system is adequate and in

good working condition is to have it inspected by a qualified inspector.

The value estimated in this appraisal is based on the assumption that the Sanitary Waste is disposed of by a municipal sewer or an adequate properly permitted alternate

treatment system in good condition.

Comments

SOIL CONTAMINANTS

There are no apparent signs of Soil Contaminants on or near the subject property (except as reported in Comments below). It is possible that research, inspection and

testing by a qualified environmental inspector would reveal existing and/or potential hazardous substances and/or detrimental environmental conditions on or around the

property that would negatively affect its safety and value.

The value estimated in this appraisal is based on the assumption that the subject property is free of Soil Contaminants.

Comments

ASBESTOS

All or part of the improvements were constructed before 1979 when Asbestos was a common building material. The only way to be certain that the property is free of

friable and non-friable Asbestos is to have it inspected and tested by a qualified asbestos inspector.

The improvements were constructed after 1979. No apparent friable Asbestos was observed (except as reported in Comments below).

The value estimated in this appraisal is based on the assumption that there is no uncontained friable Asbestos or other hazardous Asbestos material on the property.

Comments

PCBs (POLYCHLORINATED BIPHENYLS)

There were no apparent leaking fluorescent light ballasts, capacitors or transformers anywhere on or nearby the property (except as reported in Comments below).

There was no apparent visible or documented evidence known to the appraiser of soil or groundwater contamination from PCBs anywhere on the property (except

as reported in Comments below).

The value estimated in this appraisal is based on the assumption that there are no uncontained PCBs on or nearby the property.

Comments

RADON

The appraiser is not aware of any Radon tests made on the subject property within the past 12 months (except as reported in Comments below).

The appraiser is not aware of any indication that the local water supplies have been found to have elevated levels of Radon or Radium.

The appraiser is not aware of any nearby properties (except as reported in Comments below) that were or currently are used for uranium, thorium or radium extraction

or phosphate processing.

The value estimated in this appraisal is based on the assumption that the Radon level is at or below EPA recommended levels.

Comments

Page 55

Form 69F - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

USTs (UNDERGROUND STORAGE TANKS)

There is no apparent visible or documented evidence known to the appraiser of any USTs on the property nor any known historical use of the property that would

likely have had USTs.

There are no apparent petroleum storage and/or delivery facilities (including gasoline stations or chemical manufacturing plants) located on adjacent properties (except

as reported in Comments below).

There are apparent signs of USTs existing now or in the past on the subject property. It is recommended that an inspection by a qualified UST inspector be obtained to

determine the location of any USTs together with their condition and proper registration if they are active; and if they are inactive, to determine whether they were

deactivated in accordance with sound industry practices.

The value estimated in this appraisal is based on the assumption that any functioning USTs are not leaking and are properly registered and that any abandoned USTs are

free from contamination and were properly drained, filled and sealed.

Comments

NEARBY HAZARDOUS WASTE SITES

There are no apparent Hazardous Waste Sites on the subject property or nearby the subject property (except as reported in Comments below). Hazardous Waste Site

search by a trained environmental engineer may determine that there is one or more Hazardous Waste Sites on or in the area of the subject property.

The value estimated in this appraisal is based on the assumption that there are no Hazardous Waste Sites on or nearby the subject property that negatively affect the

value or safety of the property.

Comments

UREA FORMALDEHYDE (UFFI) INSULATION

All or part of the improvements were constructed before 1982 when UREA foam insulation was a common building material. The only way to be certain that the

property is free of UREA formaldehyde is to have it inspected by a qualified UREA formaldehyde inspector.

The improvements were constructed after 1982. No apparent UREA formaldehyde materials were observed (except as reported in Comments below).

The value estimated in this appraisal is based on the assumption that there is no significant UFFI insulation or other UREA formaldehyde material on the property.

Comments

LEAD PAINT

All or part of the improvements were constructed before 1980 when Lead Paint was a common building material. There is no apparent visible or known documented

evidence of peeling or flaking Lead Paint on the floors, walls or ceilings (except as reported in Comments below). The only way to be certain that the property

is free of surface or subsurface Lead Paint is to have it inspected by a qualifed inspector.

The improvements were constructed after 1980. No apparent Lead Paint was observed (except as reported in Comments below).

The value estimated in this appraisal is based on the assumption that there is no flaking or peeling Lead Paint on the property.

Comments

AIR POLLUTION

There are no apparent signs of Air Pollution at the time of the inspection nor were any reported (except as reported in Comments below). The only way to be certain

that the air is free of pollution is to have it tested.

The value estimated in this appraisal is based on the assumption that the property is free of Air Pollution.

Comments

WETLANDS/FLOOD PLAINS

The site does not contain any apparent Wetlands/Flood Plains (except as reported in Comments below). The only way to be certain that the site is free of Wetlands/

Flood Plains is to have it inspected by a qualified environmental professional.

The value estimated in this appraisal is based on the assumption that there are no Wetlands/Flood Plains on the property (except as reported in Comments below).

Comments

MISCELLANEOUS ENVIRONMENTAL HAZARDS

There are no other apparent miscellaneous hazardous substances and/or detrimental environmental conditions on or in the area of the site except as indicated below:

Excess Noise

Radiation + Electromagnetic Radiation

Light Pollution

Waste Heat

Acid Mine Drainage

Agricultural Pollution

Geological Hazards

Nearby Hazardous Property

Infectious Medical Wastes

Pesticides

Others (Chemical Storage + Storage Drums, Pipelines, etc.)

The value estimated in this appraisal is based on the assumption that there are no Miscellaneous environmental Hazards (except those reported above) that would

negatively affect the value of the property.

When any of the environmental assumptions made in this addendum are not correct, the estimated value in this appraisal may not be valid.

Page 56

Form MPA - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Paul Steele

N/A

223 W Dutton St

Kalamazoo

49007

Client - Matt McCamman

MichRIC, Owner

MichRIC, Assessor

05/17/2023

130000

2023-014037

WDH LLC

McCamman

26077C0187E

7/31/2024

Kalamazoo City

Borrower

Lender/Client

MULTI-PURPOSE SUPPLEMENTAL ADDENDUM

FOR FEDERALLY RELATED TRANSACTIONS

Property Address

City

County

State

Zip Code

This Multi-Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser with a convenient way to comply with the current

appraisal standards and requirements of the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of Currency (OCC), The Office of Thrift

Supervision (OTS), the Resolution Trust Corporation (RTC), and the Federal Reserve.

This Multi-Purpose Supplemental Addendum is for use with any appraisal. Only those

statements which have been checked by the appraiser apply to the property being appraised.

PURPOSE & FUNCTION OF APPRAISAL

The purpose of the appraisal is to estimate the market value of the subject property as defined herein. The function of the appraisal is to assist the above-named

Lender in evaluating the subject property for lending purposes. This is a Federally related transaction.

EXTENT OF APPRAISAL PROCESS

The appraisal is based on the information gathered by the appraiser from public records, other identified sources, inspection of the subject property and

neighborhood, and selection of comparable sales within the subject market area. The original source of the comparables is shown in the Data Source section

of the market grid along with the source of confirmation, if available. The original source is presented first. The sources and data are considered reliable.

When conflicting information was provided, the source deemed most reliable has been used. Data believed to be unreliable was not included in the report nor

used as a basis for the value conclusion.

The Reproduction Cost is based on

supplemented by the appraiser's knowledge of the local market.

Physical depreciation is based on the estimated effective age of the subject property. Functional and/or external depreciation, if present, is specifically

addressed in the appraisal report or other addenda. In estimating the site value, the appraiser has relied on personal knowledge of the local market. This

knowledge is based on prior and/or current analysis of site sales and/or abstraction of site values from sales of improved properties.

The subject property is located in an area of primarily owner-occupied single family residences and the Income Approach is not considered to be meaningful.

For this reason, the Income Approach was not used.

The Estimated Market Rent and Gross Rent Multiplier utilized in the Income Approach are based on the appraiser's knowledge of the subject market area.

The rental knowledge is based on prior and/or current rental rate surveys of residential properties. The Gross Rent Multiplier is based on prior and/or current

analysis of prices and market rates for residential properties.

For income producing properties, actual rents, vacancies and expenses have been reported and analyzed. They have been used to project future rents,

vacancies and expenses.

SUBJECT PROPERTY OFFERING INFORMATION

According to

the subject property:

has not been offered for sale in the past 30 days.

is currently offered for sale for $

was offered for sale within the past 30 days for $

Offering information was considered in the final reconciliation of value.

Offering information was not considered in the final reconciliation of value.

Offering information was not available. The reasons for unavailability and the steps taken by the appraiser are explained later in this addendum.

SALES HISTORY OF SUBJECT PROPERTY

According to

the subject property:

has not transferred in the past twelve months.

has transferred in the past twelve months.

has not transferred in the past thirty-six months.

has transferred in the past thirty-six months.

All prior sales which have occurred in the past twelve months are listed below and reconciled to the appraised value, either in the body of the report or

in the addenda.

Date

Sales Price

Document #

Seller

Buyer

FEMA FLOOD HAZARD DATA

Subject property is not located in a FEMA Special Flood Hazard Area.

Subject property is located in a FEMA Special Flood Hazard Area.

The community does not participate in the National Flood Insurance Program.

The community does participate in the National Flood Insurance Program.

It is covered by a regular program.

It is covered by an emergency program.

Zone

FEMA Map/Panel #

Map Date

Name of Community

Page 1 of 2

Page 57

Form MPA - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

MCCAMMAN, MATTHEW

1-3

Data received from the Southwest

Michigan MLS sold property data.

12/31/2023

01/23/2025

Paul James Steele

269

329-0159

1204005814

27-1434060

CURRENT SALES CONTRACT

The subject property is currently not under contract.

The contract and/or escrow instructions were not available for review. The unavailability of the contract is explained later in the addenda section.

The contract and/or escrow instructions were reviewed. The following summarizes the contract:

The contract indicated that personal property was not included in the sale.

The contract indicated that personal property was included. It consisted of

Estimated contributory value is $

Personal property was not included in the final value estimate.

Personal property was included in the final value estimate.

The contract indicated no financing concessions or other incentives.

The contract indicated the following concessions or incentives:

If concessions or incentives exist, the comparables were checked for similar concessions and appropriate adjustments were made, if applicable, so

that the final value conclusion is in compliance with the Market Value defined herein.

Contract Date

Amendment Date

Contract Price

Seller

MARKET OVERVIEW

Include an explanation of current market conditions and trends.

months is considered a reasonable marketing period for the subject property based on

ADDITIONAL CERTIFICATION

The Appraiser certifies and agrees that:

(1) The analyses, opinions and conclusions were developed, and this report was prepared, in conformity with the Uniform Standards of Professional

Appraisal Practice ("USPAP"), except that the Departure Provision of the USPAP does not apply.

(2) Their compensation is not contingent upon the reporting of predetermined value or direction in value that favors the cause of the client, the amount

of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event.

(3) This appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan.

ADDITIONAL (ENVIRONMENTAL) LIMITING CONDITIONS

The value estimated is based on the assumption that the property is not negatively affected by the existence of hazardous substances or detrimental

environmental conditions unless otherwise stated in this report. The appraiser is not an expert in the identification of hazardous substances or detrimental

environmental conditions. The appraiser's routine inspection of and inquiries about the subject property did not develop any information that indicated

any apparent significant hazardous substances or detrimental environmental conditions which would affect the property negatively unless otherwise stated

in this report. It is possible that tests and inspections made by a qualified hazardous substance and environmental expert would reveal the existence of

hazardous substances or detrimental environmental conditions on or around the property that would negatively affect its value.

ADDITIONAL COMMENTS

APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION

Appraiser's Signature

Effective Date

Date Prepared

Appraiser's Name (print)

Phone # ( )

State

License

Certification #

Tax ID #

CO-SIGNING APPRAISER'S CERTIFICATION

The co-signing appraiser has personally inspected the subject property, both inside and out, and has made an exterior inspection of all comparable sales

listed in the report. The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts

responsibility for the contents of the report including the value conclusions and the limiting conditions, and confirms that the certifications apply

fully to the co-signing appraiser.

The co-signing appraiser has not personally inspected the interior of the subject property and:

has not inspected the exterior of the subject property and all comparable sales listed in the report.

has inspected the exterior of the subject property and all comparable sales listed in the report.

The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts responsibility for the

contents of the report, including the value conclusions and the limiting conditions, and confirms that the certifications apply fully to the co-signing

appraiser with the exception of the certification regarding physical inspections. The above describes the level of inspection performed by the

co-signing appraiser.

The co-signing appraiser's level of inspection, involvement in the appraisal process and certification are covered elsewhere in the addenda section

of this appraisal.

CO-SIGNING APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION

Co-Signing

Appraiser's Signature

Effective Date

Date Prepared

Co-Signing Appraiser's Name (print)

Phone # ( )

State

License

Certification #

Tax ID #

Page 2 of 2

Page 58

Form SUP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

1210241

N/A

223 W Dutton St

Kalamazoo

49007

Client - Matt McCamman

The appraiser has chosen what are believed to be the most similar comparable sales from the marketplace. Adjustments in

the "Sales Comparison Approach" are based on market extraction and not cost. Occasionally it is necessary to use

comparable data that occurred more than six months, exceeds 25% gross, 15% net, and are located more than one mile

from the subject.

The appraiser has chosen the best available sales from the marketplace that meet typical investor underwriting guidelines,

and also meet standards set forth by The American Institute of Real Estate Appraisers, The National Association of Real

Estate Appraisers and The Foundation of Real Estate Appraisers.

Sale information was verified, when possible through public records, MLS records, exterior inspection and real estate

agents. This includes the verification of the comparables close sale dates and the transaction was at arms-length.

The appraiser has tried to assure the data is correct, and bases the findings on the assumption that all such data is

accurate.

The appraiser is not a qualified 'Building Inspector", and does not warrant or guarantee any structure, well, septic,

plumbing, electrical or the amount and adequacy of insulation or that the property will pass any local or federal regulations

or inspections.

The appraiser researched all MLS boards that service the subject area. Sales selected are felt to be the best

representation of value for the subject.

All sales were given consideration when establishing value via the "Sales Comparison Approach".

The photos are true and attested actual photographs of said properties, taken with a digital camera, and have not been

altered or enhanced other than the appraiser placing black stars over personal photographs. MLS photos were used to

better represent the Comparable sales at the time of sale.

The appraisal contains digital signatures which electronically prevent the report from being altered or changed.

Appraisers in Michigan are required to be licensed and are regulated by the Michigan Department of Licensing and

Regulatory Affairs, P.O. Box 30018, Lansing, MI 48909

Borrower

Lender/Client

File No.

Property Address

City

County

State

Zip Code

Page 59

N/A

1210241

223 W Dutton St

Kalamazoo

Kalamazoo

MI

49007

Client - Matt McCamman

APPRAISAL AND REPORT IDENTIFICATION

2-2(a)

2-2(b)

Comments on Standards Rule 2-3

I certify that, to the best of my knowledge and belief:

- The statements of fact contained in this report are true and correct.

- The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased professional 

analyses, opinions, and conclusions.

- Unless otherwise indicated, I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved.

- Unless otherwise indicated, I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year 

period immediately preceding acceptance of this assignment.

- I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.

- My engagement in this assignment was not contingent upon developing or reporting predetermined results.

- My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the 

client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.

- My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that 

were in effect at the time this report was prepared.

- Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report.

- Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of each 

individual providing significant real property appraisal assistance is stated elsewhere in this report).

1-3 months

Comments on Appraisal and Report Identification

Note any USPAP-related issues requiring disclosure and any state mandated requirements:

Paul James Steele

Certified Residential Appraiser

1204005814

MI

07/31/2025

01/23/2025

12/31/2023

12/16/2024

Form ID14E - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE

Borrower

Lender/Client

File No.

Property Address

City

County

State

Zip Code

This Report is one of the following types:

Appraisal Report

(A written report prepared under Standards Rule

, pursuant to the Scope of Work, as disclosed elsewhere in this report.)

Restricted

Appraisal Report

(A written report prepared under Standards Rule

, pursuant to the Scope of Work, as disclosed elsewhere in this report,

restricted to the stated intended use by the specified client or intended user.)

Reasonable Exposure Time

(USPAP defines Exposure Time as the estimated length of time that the property interest being

appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal.)

My Opinion of Reasonable Exposure Time for the subject property at the market value stated in this report is:

APPRAISER:

Signature:

Name:

State Certification #:

or State License #:

State:

Expiration Date of Certification or License:

Date of Signature and Report:

Effective Date of Appraisal:

Inspection of Subject:

None

Interior and Exterior

Exterior-Only

Date of Inspection (if applicable):

SUPERVISORY or CO-APPRAISER (if applicable):

Signature:

Name:

State Certification #:

or State License #:

State:

Expiration Date of Certification or License:

Date of Signature:

Inspection of Subject:

None

Interior and Exterior

Exterior-Only

Date of Inspection (if applicable):

Page 60

Greetings, I hope this letter ﬁnds you well. The purpose of this letter is to explain the 

valuation appeal for 223 W Dutton St Kalamazoo MI 49007. The property was listed for sale for 

6 weeks on the open market MLS for $140000. No oﬀers were submitted during the listing 

period. My oﬀer was accepted at $130000 and the home appraised at $135000. I did appeal this 

to the March board of review then to the Tribunal. I withdrew from the case to obtain another 

opinion on the valuation. 

 

On 12/16/2024 I had Paul Steele with Certiﬁed Appraisers of Greater Kalamazoo 

appraise the property. I had Paul appraise the home for the value on the date of 12/31/2023. 

The reasoning for valuing on 12/31/23 is in case this request gets denied and we need to 

proceed to the Tribunal. Using the recent valuation and the current multiplier the value of the 

home is 141000 * 1.031 = $145371. 

I would like to resolve this ourselves without escalation. At this time, I am asking for the 

adjustment of the taxable value for 2025 to be set to $72686. I have also included some 

comparable sales with the appraisal. I am not seeking this out of pride, I only do not wish to pay 

more tax than my property is valued. Thank you have a good day 

Matthew McCamman 

2618 Plainview St Kalamazoo MI 49009 

269-547-5991 mattmccamman@gmail.com

Page 61

Hello I hope this letter ﬁnds you well. I am bringing my property valuation to the Tribunal

for an honest and fair resolution to my rejected appeal from the City of Kalamazoo March Board

of Review. I have provided the purchase appraisal, seven comps, and an independent appraisal

to provide data and support to the valuation of the property.

223 W Dutton Street was listed for sale on 12/29/22 for $140,000 and sat on the market

until 02/15/23 with no oﬀers. Average days on market at this time was 9 days. The listing

indicated the upper unit is rented and the lower unit was being renovated and will be rented at

the time of sale. My oﬀer was accepted at $130,000 and the purchase appraisal came in at

$135,000. I appealed to the 2023 March board of review and then the Tribunal. I ended up

dropping the case to obtain another appraisal from an independent appraiser.

The second appraisal indicates the value of the property as of 12/31/2023 is $141,000.

The appraisal was conducted by Paul Steele with Certiﬁed Appraisers of Grater Kalamazoo LLC. I

believe the appraisal to be accurate and the SEV and taxable value for 2024 should be $141,000.

From this data the taxable value for 2025 should be $145,230 with the 0.03 multiplier and the

SEV should be $152,280 with the rise in market value of 8%.

I appealed to the 2024 March board of review with the new appraisal. I have included

the letter to the board for both 2023 and 2024 and both responses. I tried to resolve this

without taking it to the Tribunal this year as indicated in my letter to the March board of review.

I do believe I am overpaying in property tax as the city has my property overvalued. If the

property will not sell on the open market for 2 months at $140,000, I believe this indicates the

true value was less than the listed price.

Thank you for taking the time to look at my case. Have a good day.

Sincerely

Matthew McCamman 6/4/2025

Page 62

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Photos 

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$130,000 

223 W Dutton Street 

Sold 

/ 22051581 v 

Kalamazoo, 

MI 49007 

Days On Market: 

43 

Listing Office: Berkshire Hathaway HomeServices MI (k231) 

Listing Member: Greg 5 Miller 

Municipality: Kalamazoo City 

Lot Acres: 0.14 

Year Built: 1916 

Selling Office: Whitmore Realty Group, LLC (k1749) 

Selling Member: Matthew McCamman 

Next Open House: 

Next Tour of Homes: 

School District: Kalamazoo 

Co-listing Member: Chris M Flach 

Berkshire Hathaway HomeServices MI (k231) 

Vine neighborhood duplex! This 2 unit property sits in a great 

location near downtown, restaurants, schools, and more. There 

are wood floors throughout. One unit has 2 bedrooms and a fully 

updated bathroom. The unit is rented for $1400 per month. The 

other unit is a 1 bedroom that the seller is currently rehabbing but 

will be rented for $900 per month. This is a great opportunity for 

an investment or live in half and have the tenant pay your 

mortgage! 

Edit Search 

List 

Detail 

Photos 

Map 

Stats 

+ 

Ca 

Reportv 

History 

@ Realist Tax Info 

@ Neighborhood Profile Documents 

Calculator Search Comparables [B]Access 

© Loop 

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@ Property 

Map @)zipform 

<» RPR 

Multi-Family 

Sold 

Agent Detail Report 

223 W Dutton Street, Kalamazoo, 

MI 49007 

$130,000 

List Number: 22051581 

Property Sub-Type: 2 fo 4 Units 

Status: 

Area: Greater Kalamazoo - K 

ape ON his 2036 

Original 

List Price: $140,000 

‘Municipality: Kalamazoo City 

‘New Construction: Ni 

List Price/SqFt: 

$68 76 

Year Built: 1916 

Sub-Area: K09 - Driown § To Crosslown 

Sold Price/SqFt: $63.85 

Lot Dimensions: 

37 x 165 

County: Kalamazoo 

Days On Market: 

45 

Cross Streets: S Park St & S Rose St 

Tax ID #: 0622153001 

Cumulative 

DOM: 48 

Waterfront: No 

Lot Acres: 

0.14 

Lot Square Footage: 

6.098 

Road Frontage: 37 

Directions: From the intersection of Park St and Howard, go north on Park. Go east on Dutton fo property. 

Unit 1: Unit Description: 1: Monthly Rent. 1,400. Bedrooms: 2; Bathrooms: 1; Full Baths: 1; Half Baths: 0 Unit 3: Bathrooms: 0 Unit 5: Bathrooms: 0 Unit 7: Bathrooms: 0 Unit 9: Bathrooms: 0 Unit 11: Bathrooms: 0 

Unit 2: Unit Description: 2. Monthly Rent: 900; Bedrooms: 1; Bathrooms: 1; Full Baths: 1. Half Baths 0 

Unit 4: Bathrooms: 0 Unit 6: Bathrooms: 0 Unit 8: Bathrooms: 0 Unit 10: Bathrooms: 0 Unit 12: Bathrooms: 0 

aa 

SEV: 73,000 

For Tax Year: 2022 

Taxable Value: 44.74: 

Tax Year: 2022 

Homestead 

%: 0 

neney Brome 

Say 8547 

Zoning: 

Special Assmt/Type: none known 

School District: 

Access Feat: 

Accessibility Features. No 

Extras: 

Street Type: 

Accessibility Feat: 

Heat Source: 

Natural Gas 

Substructure: 

Ful 

‘Air Conditioning: 

Type: 

Forced Air 

Tenant Pays: 

Electric; 

Gas: Trash 

‘Assoc. Amenities: 

Income and Expenses: 

Terms Available: 

Cash, Conventional. 

FHA 

Assoc, Fee Incl: 

Util Avail at Street: 

Broadband; Cable: Electric, Natural Gas: Public Water 

‘Association Info.: 

Mineral Rights: 

Cable: Electric. Natural Gas 

‘Exterior Material: 

Wood Siding 

Roofing: 

Water 

Fea. Amenities: 

Sale Conditions: 

None 

Water Type: 

Sewer: 

Public 

‘Public Remarks: Vine neighborhood 

duplex! This 2 unit 

sits in a great location near dovmlown, restaurants, schools, and more. There are wood floors throughout. One unit has 2 bedrooms and 

a fully updated bathroom. The unit is rented for $1400 per month. The other unit is a 1 bedroom that the 

. 

response for a one 

day 

or 

on 

3 

| com and chris@roymillerieam 

com or 

Sub Agency: 0% 

Agency:3% 

Trans Coord: 3% 

Vari to 

Lrehomy posiyiigy 

RP: No 

Name 

Primary Phone 

Email 

Other 

List Off: 

Berkshire Hathaway HomeServices Mi(k231) 

269-344-8599 

scottkellogg@bhhsmi com 

Fax: 

ListAgt: 

Greg S Miller (k315206) 

269-743-4817 

listings @roymillerteam com 

Mobile; 269-743-4817 

List Association: 

Greater Kalamazoo Association of REALTORS 

‘Co-listing Office: 

Berkshire Hi 

HomeServices MI (k231) 

269-344-8599 

AltAgt: 

Chris 

M Flach 

(k372615) 

269-447-1458 

chris@roymillerteam 

com 

Selling Off: 

‘Whitmore Realty Group, LLC (k1749) 

269-903-9908 

Jwhitmore @vwhitmorerealtygroup net 

Selling Agt: 

Matthew McCamman(k444165) 

561-603-8658 

mmccamman@vhitmorereaitygroup 

net 

‘Showing Instructions: By appointment only through ShowingTime (800-746-9464) Access SentriLock keybox. 

Listing Date: 

12/20/2022 

Status Change Date: 05/18/2023 

Terms: 

Conventional 

Pending Date: 

02/15/2023 

Sold Date: 

051722023 

Seller Concessions: 

None 

Sold Sale Conditions: Not Applicable 

Sold Price: 

$130,000 

reliable but not 

partes ae 

To verfy al 

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2024 MichRICS, 

LLC All nights reserved. /DMCA Notice The property on this sheet has been made avaiable on 030912024 1:58 PM and may not be listed by the office/agent presenting this 

Al 

deemed 

information.

Page 63

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ulti Family 

Sold 

Agent Detail Report 

412 Locust Street, Kalamazoo, MI 49007 

$127,000 

- 

- 

c 

| 

List Number: 24059909 

Property Sub-Type: 

2 to 4 Units 

Status: Sold 

“og 

Area: Greater Kalamazoo 

- 

K 

New Construction: No 

Original 

List Price: $125,000 

Municipality: Kalamazoo City 

County: Kalamazoo 

Days On 

Year Built: 1893 

Tax ID #: 06-21.225-004 

‘Cumulative 

DOM: 82 

Lot Dimensions: 

Lot Acres: 0.07 

Cross Streets: Lovell And Cedar 

Lot Square Footage: 

3,049 

Road Frontage: 44 

Directions: From Lovell Street, head south onto Locust Home is on right hand side. 

Unit 1: Unit Description: EE 

as 

ne 

ae 

0 Unit 5: 

0 Unit 7: 

0 Unit 9: B: 

0 

Unit11: 

0 

Unit 2: Unit #: 2; Unit De 

2; Bathrooms: 1: Full Baths: 1; Half Baths: 0 

Unit 4: 

0 Unit 6: 

0 Unit 8: 

0 Unit 10: Bathrooms: 0 Unit 12: Bathrooms: 0 

Legal: 50452 WELCHS ADDITION S 44FT OF E S3FT OF LOT 441 AND LAND BETWEEN SAME 

& LO CUST ST. 

SEV: 70,700 

For Tax Year: 

2023 

[Taxable Value: 33265 

Tax Year: 2023 

Homestead 

%: 0 

Annual Property Tax: 2,240.64 

Zoning: RM-15 

Special Assmt/Type: None Known 

School District: Kalamazoo 

Access Feat: 

Accessibilty Features No 

Extras: 

Street Type: 

Public 

Accessibility Feat: 

Heat Source: 

Natural Gas 

Substructure: 

Full 

Air Conditioning: 

Heat Type: 

Forced Air 

Tenant Pays: 

Foamy Gas 

Assoc. Amenities: 

Income and Expenses: 

Terms Available: 

Cash; Conventional 

Assoc. Fee Incl: 

Lot Description: 

Util Avail at Street: 

Blecrcty Avaiable. Natural 

Gas Available; Public Sewer, Public Water; Storm Sewer 

Association Info.: 

Mineral Rights: 

Unknown 

Utilities Attached: 

Natural Gas 

Cq 

Driveway: 

Owner Pays: 

Trash Collection; Water 

Water: 

Pui Vises 

(Exterior Material: 

Wood Siding 

Roofing: 

Composition 

Water 

Fea. Amenities: 

Sale Conditions: 

None 

Water Type: 

Sewer: 

Public Sewer 

Public Remarks: Historic duplex in the heart of the Vine Neighborhood. near the Lovell 

bus line. Locust street allows overnight parking- There is one off street parking spot. oh Unit #2 has 2 bedrooms/1bath. Hardwood 

floors in both units. Rent is 900/month 

for unit #2 Unit 

#1 is marketed 

at 950-1000/month. Tenants 

pay gas/electric. 

IAgent 

Only Remarks: Unit #1 is vacant. show anytime. Unit #2 needs 24 hour notice. Back 

on Market: Listing agent has not seen inspection report. Was told buyer 

by ‘oid 

loose bricks on 

of terme activity in the shed 

Occupant Type: Tenant 

Listing Agreement: Exclusive Agency 

RP: No 

Name 

Primary Phone 

Email 

Other 

List Off: 

Lukeman Group LLC(k1655) 

269-598-6567 

jlukeman@comcast net 

Fax: 

List Agt: 

Joseph Lukeman (k349281) 

269-598-6567 

Jukeman@iukemangroup.com 

Mobile:269-598-6567 

List Association: 

Greater Kalamazoo Association of REALTORS 

Selling Off: 

Michigan Top Producers (9201300) 

269.222-2550 

Selling Agt: 

Nadia A Scoti(gscot3579) 

317-601-2138 

nadia@michigantopproducers com 

‘Showing Instructions: Unit #1 is vacant. show anytime. Unit #2 needs at least 24 hour notice. 

Listing Date: 

11612024 

Pending Date: 

02/22/2025 

Sold Sale Conditions: Not Applicable 

|All information deemed materially reliable but not 

ed 

3 parties 

are 

encouraged 

to verity all 

information. 

Copyright 2025 

MIchRICS,

Page 64

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Multi 

Fami 

Sold 

A 

Detail Rs 

708 W Vine 

S 

Kal, 

MI 49008 

$145,000 

List Number: 24028515 

Property Sub-Type: 

2 to 4 Units 

Status: Sold 

Area: Greater Kalamazoo 

- K 

New Construction: No 

Original 

List Price: $149 900 

Municipality: Kalamazoo City 

County: Kalamazoo 

Days On Market: 19 

Year Built: 1905 

Tax ID #: 390621281006 

Cumulative DOM: 19 

Lot Dimensions: 31x66 

Lot Acres: 0.047 

Cross Streets: Vine and Oak 

Lot Square Footage: 

2,047 

Waterfront: No 

Road Frontage: 31 

Directions: Traveling south on South Wesinedge Avenue. Tum right 

on Vine. Cross over Oak St. House positioned on north side of Vine St. 

Unit 

1: Unit # 

1; Unit Description: 

Lower Unit, Occupied: Yes; Monthly 

Rent: 850; Bedrooms: 

2; Bathrooms: 

1; Full Baths: 1; Half Baths: 0 Unit 3: Bathrooms: 

0 Unit 5: Bathrooms: 

0 Unit 7: Bathrooms: 0 Unit 9: Bathrooms: 0 

Unit 11: Bathrooms: 0 

Unit 

2: Unit #: 2; Unit Description: 

Upper Unit; Occupied: Yes; Monthly 

Rent: 900; Bedrooms: 

2; Bathrooms: 

1; Full Baths: 1; Half Baths: 0 Unit 4: Bathrooms: 0 Unit 6: Bathrooms: 

0 Unit 8: Bathrooms: 

0 Unit 10: Bathrooms: 0 Unit 12: Bathrooms: 0 

Legal: 35398 RICES ADDITION, Liber 1 of Plats Page 5; The East 31ft of the West 621t of Lot 31 

SEV: 55,000 

For Tax Year: 

2023 

Taxable Value: 26,314 

Tax Year: 2023 

Homestead %: 0 

Annual Property Tax: 1736.48 

Zoning: 

Special Assmt/Type: none 

School District: Kalamazoo 

Access Feat: 

Accessibility Features: No 

Extras: 

Street Type: 

Public 

Accessibility Feat: 

Heat Source: 

Natural Gas 

Substructure: 

Full 

Air Conditioning: 

None 

Heat Type: 

Forced Air 

Tenant Pays: 

Gas 

Assoc. Amenities: 

Income and Expenses: 

Annual Maintenance: 2,829.08; Annual Mgmt Fees: 1,834.3; Annual Utilities: 3,241.91; Gross Op. Inc. 20,7422; Net Op. Inc. 

8272.73 

Terms Available: 

Cash; Conventional 

Assoc. Fee Incl: 

Lot Description: 

Util Avail at Street: 

Cable Available; Natural Gas Available; 

Public Sewer; Public Water 

Association Info.: 

Mineral Rights: 

Utilities Attached: 

Electricity Connected; Natural 

Gas Connected 

Driveway: 

None 

Owner Pays: 

Electricity, Sewer, Trash Collection; Water 

Water: 

Public Water 

Exterior Material: 

Wood Siding 

Roofing: 

Composition 

Water 

Fea. Amenities: 

Sale Conditions: 

None 

Water Type: 

Sewer: 

Public Sewer 

Laundry Features: 

Common 

Area; In Basement 

Public Remarks: Welcome to 708 W Vine St. a charming two-bedroom duplex in the heart of Kalamazoo's Vine Neighborhood. This delightful property offers cozy two-bedroom units, each featuring one bathroom. Located in the vibrant and historic Vine neighborhood, this duplex provides a perfect blend of historic charm and modem convenience. You'll be close to downtown Kalamazoo, Western 

Mi 

University, and local shops and restaurants. Currently utilized as an investment property, 708 W Vine St has 

a solid history of fenancy, making it an attractive option for investors looking for reliable rental income. On-site laundry facilities are available for tenant convenience. The gas utility is split, allowing for the utility to be tenant responsibility. 

This property is currently City Certified to December 2024 

Agent Only Remarks: Income statement reflects July 2023 - May 2024. Does not include annual property insurance. 

Listing Agreement: Exclusive Agency 

RP: No 

Name 

Primary Phone 

Email 

Other 

List Off: 

Lukeman Group LLC(k1655) 

269-598-6567 

jlukeman@comcast net 

Fax: 

ListAgt: 

Amanda M Cline (k394309) 

269-290-3822 

amandaciine realtor@gmail. com 

Mobile:269-290-3822 

List Association: 

Greater Kalamazoo Association of REALTORS 

Codlisting Office: 

Lukeman Group LLC (k1655) 

269-598-6567 

Alt Agt: 

Madison H Lukeman (k378321) 

269-207-4394 

miukeman@lukemangroup.com 

Selling Off: 

Keller Williams Kalamazoo Market Center (k235) 

269-324-3600 

kirw499@kw.com 

Selling Agt: 

Joe A Richards(k395691) 

269-910-3125 

joerichards@kw com 

Co-Selling Agt: 

Amanda L Clark-Richards(k410841) 

616-402-8473 

mihomewardboundrealty@gmail com 

Showing Instructions: Use Showingtime 

- 48 hour notice required 

- tenant occupied 

Listing Date: 

06/06/2024 

Status Change Date: 08/07/2024 

Terms: 

Cash 

Pending Date: 

07/30/2024 

Sold Date: 

08/07/2024 

Seller Concessions: none 

Sold Sale Conditions: Not Applicable 

Sold Price: 

$145,000 

All information deemed materially reliable but not guaranteed. Interested parties are encouraged to verify all information. Copyright 2025 MichRIC®, LLC All rights reserved. /DMCA Notice The property on this sheet has been made available on 06/04/2025 6:31 PM and may not be listed by the office/agent presenting this information. 

un | 

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Multi Family 

Sold 

Agent Detail Report 

317-319 Burr Oak Street, Kalamazoo, MI 49001 

List Number: 23145767 

Property Sub-Type: 2 to 4 Units 

Status: Sold 

Area: Greater Kalamazoo - K 

Total Approx. SqFt All Bldgs: 2,034 

Original List Price: $125,000 

Municipality: Kalamazoo City 

New Construction: No 

List Price/SqFt: $57.53 

Year Built: 1912 

County: Kalamazoo 

Sold Price/SqFt: $57.58 

Lot Dimensions: 34 4x132 

Tax ID #: 06-22-172-006 

Days 

On Market: 92 

Cross Streets: Burr Oak Ct and S Park 

Cumulative 

DOM: 92 

Waterfront: No 

Lot Acres: 0.104 

Lot Square Footage: 4,530 

Road Frontage: 34.4 

Directions: From Crosstown and S Park, North on S Park to Burr Oak, East to property 

Unit 

1: Unit #: 319; Unit Description: 

Lower, SqFt: 1,042; Occupied: Yes; Monthly Rent: 800; Bedrooms: 1; Bathrooms: 1; Full Baths: 1; Half Baths: 0. Range Oven; Refrigerator. 

W/D Hookup Unit 

3: Bathrooms: 0 Unit 5: Bathrooms: 0 Unit 7: Bathrooms: 0 Unit 9: Bathrooms: 

0 

Unit 11: Bathrooms: 0 

Unit 

2: Unit # 317; Unit Description: Upper; SqFt: 1,042; Occupied: No; Monthly Rent: 0; Bedrooms: 1; Bathrooms: 1; Full Baths: 1; Half Baths: 0 

Unit 

4: Bathrooms: 0 Unit 6: Bathrooms: 0 Unit 

8: Bathrooms: 0 Unit 10: Bathrooms: 0 Unit 12: Bathrooms: 0 

Legal: 40222 SILLS ADDITION W 34FT 5 INCHES OF E 212.6FT OF LOT 27 

SEV: 70,600 

For Tax Year: 

2023 

Taxable Value: 63,105 

Tax Year: 2023 

Homestead %: 0 

Annual Property Tax: 4,386.04 

Zoning: 

Special Assmt/Type: none known 

School District: Kalamazoo 

Access Feat: 

Accessibility Features: No 

Extras: 

Garages; Sep Electric Meter, Sep Gas Meter, Tenant Storage 

Street Type: 

Paved; Public 

Accessibility Feat: 

Heat Source: 

Natural Gas 

Substructure: 

Full; Michigan Basement 

Air Conditioning: 

Window Unit(s) 

Heat Type: 

Hot Water 

Tenant Pays: 

Electric; Gas 

Assoc. Amenities: 

Income and Expenses: 

Terms Available: 

Cash; Conventional 

Assoc. Fee Incl: 

Lot Description: 

Sidewalk 

Util Avail at Street: 

None 

Association Info.: 

Mineral Rights: 

Unknown 

Utilities Attached: 

Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected 

Driveway: 

Shared Unpaved 

Owner Pays: 

Sewer, Trash Collection; Water 

Water: 

Public Water 

Exterior Material: 

Aluminum Siding 

Roofing: 

Composition 

Water 

Fea. Amenities: 

Sale Conditions: 

None 

Water Type: 

Sewer: 

Public Sewer 

Public Remarks: Great value add investment opportunity! Vine neighborhood duplex with aluminum siding and 2 car garage. Lower unit in great shape and currently occupied at $800/mo. Upper unit has tons of potential to be updated into a nice 2 bedroom apt with minor changes. After updates it should rent for $1150-1250/mo. 

Agent 

Only Remarks: 

Occupant Type: Tenant 

Listing Agreement: Exclusive Right To Sell 

RP: No 

Name 

Primary Phone 

Email 

Other 

List Off: 

Five Star Real Estate(k1803) 

269-377-4589 

broker@fivestarieaders.com 

Fax: 

List Agt: 

Adam Atwood (k347154) 

269-377-4589 

atwoodproperties@gmail.com 

Mobile:269-377-4589 

List Association: 

Greater Kalamazoo Association of REALTORS 

Selling Off: 

CENTURY 21 Affiliated (k1630) 

269-888-1900 

adminportagemi@c21affiiated com 

Selling Agt: 

Shawn J Mandeville(k4 19600) 

269-720-2664 

smandeville@jsajelic.com 

Showing Instructions: 

Lower unit occupied, Need 24hr notice for that unit. Showingtime 

Listing Date: 

1227/2023 

Status Change Date: 05/24/2024 

Terms: 

Conventional 

Pending Date: 

03/28/2024 

Sold Date: 

05/21/2024 

Seller Concessions: none 

Sold Sale Conditions: Not Applicable 

Sold Price: 

$120,000 

All information deemed materially reliable but not guaranteed. Interested parties are encouraged to verify all information. Copyright 2025 MichRIC®, LLC All rights reserved. 

DMCA Notice The property on this sheet has been made available on 08/04/2025 6:33 PM and may not be listed by the office/agent 

presenting this information. 

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Multi Family 

Sold 

Agent Detail Report 

321 Burr Oak Street, Kalamazoo, MI 49001 

$126,000 

TY 

iH) 

List Number: 23145766 

Property Sub-Type: 2 to 4 Units 

Status: Sold 

“Nt 

i 

Area: Greater Kalamazoo 

- K 

Total Approx. SqFt All Bldgs: 2,020 

Original 

List Price: $169,900 

/ 

Municipality: Kalamazoo City 

New Construction: No 

List Price/SqFt: $81.68 

Year Built: 1885 

County: Kalamazoo 

Sold Price/SqFt: $62.38 

Lot Dimensions: 25x132 

Tax ID #: 06-22-172-005 

Days On Market: 92 

Cross Streets: Burr Oak Ct and S Park 

Cumulative 

DOM: 92 

Waterfront: No 

Lot Acres: 0.076 

Lot Square Footage: 3311 

Road Frontage: 25 

Directions: From Crosstown and S Park, north on S Park to Burr Oak, East to home 

Unit 

1: Unit #: 1; Unit Description: Lower; SqFt: 1,010; Occupied: Yes; Monthly Rent: 1.250; Bedrooms: 2; Bathrooms: 1; Full Baths: 1. Half Baths: 0; Dishwasher; Garage: Range Oven; Refrigerator, W/D Hookup Unit 3: Bathrooms: 

0 Unit 5: Bathrooms: 0 Unit 7: Bathrooms: 0 Unit 9: Bathrooms: 0 

Unit 11: Bathrooms: 0 

Unit 

2: Unit 

# 2; Unit Description: Upper; Occupied: Yes; Monthly 

Rent: 750; Bedrooms: 2; Bathrooms: 1; Full Baths: 1; Half Baths: 0; Deck/Patio; Garage; Range/Oven; Refrigerator 

Unit 4: Bathrooms: 0 Unit 6: Bathrooms: 0 Unit 

8: Bathrooms: 0 Unit 10: Bathrooms: 0 Unit 12: Bathrooms: 0 

Legal: 40220 SILLS ADDITION LOT 27 EXC E 212.6FT &WS9.16 

FT. 

SEV: 65,100 

For Tax Year: 2023 

Taxable Value: 58,065 

Tax Year: 2023 

Homestead 

%: 0 

Annual Property Tax: 4,035.72 

Zoning: 

Special Assmt/Type: 

none known 

School District: Kalamazoo 

Access Feat: 

Accessibility Features: No 

Extras: 

Garages: Laundry Facility; 

Sep Electric Meter; Sep Gas Meter, Tenant Storage 

Street Type: 

Paved; Public 

Accessibility Feat: 

Heat Source: 

Natural Gas 

Substructure: 

Full; Michigan Basement 

Air Conditioning: 

None 

Heat Type: 

Forced Air 

Tenant Pays: 

Electric; Gas 

Assoc. Amenities: 

Income and Expenses: 

Terms Available: 

Cash; Conventional; FHA; VA Loan 

Assoc. Fee Incl: 

Lot Description: 

Util Avail 

at Street: 

None 

Association Info.: 

Mineral Rights: 

Unknown 

Utilities Attached: 

Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected 

Driveway: 

Shared Unpaved 

Owner Pays: 

Sewer, Trash Collection; Water 

Water: 

Public Water 

Exterior Material: 

Aluminum Siding 

Roofing: 

Metal 

Water 

Fea. Amenities: 

Sale Conditions: 

None 

Water Type: 

Sewer: 

Public Sewer 

Public Remarks: Excellent investment opportunity in the Vine Neighborhood. Low maintenance exterior with aluminum siding and metal roof makes this a rare find for the area. Lower unit has been recently updated and currently rents for $1,250/mo with tenants paying gas and electric. Upper unit rented at S750/mo with tenants paying gas and electric. 3 garage stalls for tenant parking/storage is a nice 

bonus for potential extra cash flow. 

Agent Only Remarks: 

Occupant Type: Tenant 

Listing Agreement: Exclusive Right To Sell 

RP: No 

Name 

Primary Phone 

Email 

Other 

List Off: 

Five Star Real Estate(k1803) 

269-377-4589 

broker@fivestarieaders.com 

Fax: 

List Agt: 

Adam Atwood (k347154) 

269-377-4589 

atwoodproperties@gmail.com 

Mobile:269-377-4589 

List Association: 

Greater Kalamazoo Association of REALTORS 

Selling Off: 

CENTURY 21 Affiliated (k1630) 

269-888-1900 

adminportagemi@c21affiliated. com 

Selling Agt: 

Shawn J Mandeville(k419600) 

269-720-2664 

smandeville@jsajelic. com 

Showing Instructions: Tenant Occupied, 24-48hr notice. Showingtime 

Listing Date: 

12/27/2023 

Status Change Date: 05/24/2024 

Terms: 

Conventional 

Pending Date: 

03/28/2024 

Sold Date: 

05/21/2024 

Seller Concessions: none 

Sold Sale Conditions: Not Applicable 

Sold Price: 

$126,000 

All information deemed materially reliable but not guaranteed. Interested parties are encouraged to verify all information. Copyright 2025 MichRIC®, LLC All rights reserved. 

DMCA Notice The property on this sheet has been made available on 08/04/2025 6:34 PM and may not be 

listed by the office/agent 

presenting this information. 

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Multi Family 

Sold 

Agent Detail Report 

513 Walnut Court, Kalamazoo, MI 49007 

List Number: 23002617 

Property Sub-Type: 2 to 4 Units 

Area: Greater Kalamazoo 

- K 

New Construction: 

No 

Municipality: Kalamazoo City 

Sub-Area: 

K09 - Dntown S To Crosstown 

Year Built: 1905 

County: Kalamazoo 

Lot Dimensions: 41.3x73.9 

Tax ID #: 39000622114009 

Cross Streets: W. Cedar Street 

Waterfront: 

No 

Directions: 

Enter Walnut Ct from W Cedar St. (Do not enter from W Walnut St. there are 

a lot of pot holes.) 

Status: Sold 

Original List Price: $150,000 

Days On Market: 13 

Cumulative DOM: 13 

Lot Acres: 0.0701 

Lot Square Footage: 3,052 

Road Frontage: 41 

Unit 1: Unit Description: 1st Floor, Occupied: Yes; Monthly Rent: 620; Bedrooms: 1; Bathrooms: 1; Full Baths: 1; Half Baths: 0 Unit 3: Unit Description: 2nd Floor; Occupied: Yes; Monthly Rent: 1,169; Bedrooms: 3; Bathrooms: 1; Full Baths: 1; Half Baths: 0 Unit 5: Bathrooms: 0 Unit 7: Bathrooms: 0 Unit 9: Bathrooms: 0 Unit 11: Bathrooms: 0 

Unit 

2: Unit Description: 1st Floor; Occupied: 

Yes; Monthly Rent: 720; Bedrooms: 1; Bathrooms: 1; Full Baths: 1; Half Baths: 0 Unit 4: Bathrooms: 0 

Unit 6: Bathrooms: 0 Unit 8: Bathrooms: 0 Unit 10: Bathrooms: 0 Unit 12: Bathrooms: 0 

Legal: 14010 BLEYKERS ADDITION S2 12R 

OF N9 12R OF LOT 31 

SEV: 54200 

For Tax Year: 32915 

Taxable Value: 32,915 

Tax Year: 2022 

Homestead %: 0 

Annual Property Tax: 2.276 

Zoning: 

Special Assmt/Type: none 

School District: Kalamazoo 

Access Feat: 

Accessibility Features: No 

Extras: 

Street Type: 

Public 

Accessibility Feat: 

Heat Source: 

Natural Gas 

Substructure: 

Full 

Air Conditioning: 

Window Unit(s) 

Heat Type: 

Forced Air 

Tenant Pays: 

None 

Assoc. Amenities: 

Income and Expenses: 

Terms Available: 

Cash; Conventional 

Assoc. Fee Incl: 

Lot Description: 

Util Avail at Street: 

Public Sewer, Public Water 

Association Info.: 

Mineral Rights: 

Unknown 

Utilities Attached: 

Electricity Connected; Natural 

Gas Connected 

Driveway: 

Gravel 

Owner Pays: 

Electricity; Gas; Sewer, Trash Collection; Water 

Water: 

Public Water 

Exterior Material: 

Vinyl Siding 

Roofing: 

Composition 

Water Fea. Amenities: 

Sale Conditions: 

None 

Water Type: 

Sewer: 

Public Sewer 

Public Remarks: INVERSTORS THIS IS FOR YOU! All 3 units are currently occupied with tenants. This home features 2 units with 1bed/1bath, 

and 1 unit with 3bed/1bath. I's two blocks away from Bronson Park and city certified. 

MUST SEE 

Agent 

Only Remarks: 

Occupant Type: Tenant 

Listing Agreement: Exclusive Agency 

Name 

Primary Phone 

Email 

List Off: 

Five Star Real Estate(k1687) 

269-459-7898 

broker@fivestarleaders.com 

List Agt: 

Taneshia N Crenshaw (k429342) 

List Association: 

Greater Kalamazoo Association of REALTORS 

Codlisting Office: 

Five Star Real Estate (k1773) 

269-569-1541 

AltAgt: 

Marissa Harrington 

Selling Off: 

eXp Realty LLC (k1646) 

269-600-4397 

mi broker@exprealty net 

Selling Agt: 

Ahmed "Ali" Khalil(k425556) 

269-569-4019 

ahmed khalil@exprealty.com 

Showing Instructions: 24 hr notice needed for tenants. The lockbox is located on south door near the basement. The code 

is 7368. 

Listing Date: 

01/26/2023 

Status Change Date: 04/03/2023 

Terms: 

Conventional 

Pending Date: 

02/25/2023 

Sold Date: 

03/24/2023 

Seller Concessions: 4,017 

Sold Sale Conditions: Not Applicable 

Sold Price: 

$133,900 

All information deemed materially reliable but not guaranteed. Interested parties are encouraged to verify all information. Copyright 2025 MichRIC®, LLC All rights reserved. 

DMCA Notice The property on this sheet has been made available on 08/04/2025 6:36 PM and may not be listed by the office/agent presenting this information.

Page 68

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Multi Family 

Sold 

Agent Detail Report 

823 Oakland Drive A & B, Kalamazoo, MI 49008 

$139,500 

List Number: 23001086 

Property Sub-Type: 2 to 4 Units 

Status: Sold 

Area: Greater Kalamazoo 

- K 

Total Approx. SqFt 

All Bidgs: 1.728 

Original 

List Price: $154 000 

Municipality: Kalamazoo City 

New Construction: No 

List Price/SqFt: $89.12 

Year Built: 1905 

Sub-Area: K09 - Dntown S To Crosstown 

Sold Price/SqFt: $80.73 

Lot Dimensions: 31.23 x 125.15 

County: Kalamazoo 

Days 

On Market: 5 

Cross Streets: Grant & Austin St. 

Tax ID #: 0621265005 

Cumulative 

DOM: 5 

Waterfront: No 

Lot Acres: 0.0897 

Lot Square Footage: 3908 

Road Frontage: 

31.23 

Directions: Oakland Dr. north of Howard, jun north of Grant St. 

Unit 1: Unit Description: Half of a Duplex: Monthly Rent: 900; Bedrooms: 2; Bathrooms: 1; Full Baths: 1; Half Baths: 0; Dishwasher, 

Range Oven; Refrigerator, Washer/Dryer Unit 3: Bathrooms: 0 Unit 5: Bathrooms: 

0 Unit 7: Bathrooms: 0 Unit 9: Bathrooms: 0 

Unit 11: Bathrooms: 0 

Unit 

2: Unit Description: Half of a Duplex; Monthly Rent: 775; Bedrooms: 

2; Bathrooms: 1; Full Baths: 1; Half Baths: 0; Range/Oven; Refrigerator, Washer/Dryer 

Unit 4: Bathrooms: 0 Unit 6: Bathrooms: 0 Unit 8: Bathrooms: 0 Unit 10: Bathrooms: 0 Unit 12: Bathrooms: 0 

Legal: 46755 TROWBRIDGES 

ADDITION PART OF LOT 31 COM AT SE COR OAKLAND DR & AUSTIN ST SWLY ALG ELY LI OAKLAND DR 234.18 FT FOR PLACE OF BEG TH SELY AT AN ANGLE 83DEG 27MIN WITH OAKLAND DR 119.11FT 

TH S 32.19FT TH NWLY 131.19FT 

TO OAKLAND DR TH NELY ALG ELY LI OAKLAND 

DR 30.85FT TO BEG. 

Taxable Value: 44,900 

SEV: 44900 

For Tax Year: 

2022 

Tax Year: 2022 Homestead 

%: 0 

Annual Property Tax: 2,421 

Zoning: RM-36 Special Assmt/Type: NA 

School District: Kalamazoo 

Access Feat: 

Accessibility Features: No 

Extras: 

Sep Electric Meter; Sep Gas Meter; Sep Water Meter 

Street Type: 

Paved; Public 

Accessibility Feat: 

Heat Source: 

Natural Gas 

Substructure: 

Crawl Space; Michigan Basement 

Air Conditioning: 

None 

Heat Type: 

Forced Air 

Tenant Pays: 

Electric; Gas; Sewer, Trash; Water 

Assoc. Amenities: 

Income and Expenses: 

Terms Available: 

Cash; Conventional 

Assoc. Fee Incl: 

Lot Description: 

Level 

Util Avail at Street: 

Broadband; Cable Available; Electricity Available; Natural Gas Available; Phone Available; Public Sewer; Public Water, Storm Sewer 

Association Info.: 

Mineral Rights: 

Unknown 

Utilities Attached: 

Electricity Connected; Natural 

Gas Connected 

Driveway: 

Unpaved 

Owner Pays: 

None 

Water: 

Public Water 

Exterior Material: 

Other 

Roofing: 

Composition 

Water 

Fea. Amenities: 

Sale Conditions: 

None 

Water Type: 

Sewer: 

Public Sewer 

Public Remarks: Located across from W Med School of Medicine, this duplex would be ideal for investors or a buyer who would like additional income from the adjoining tenant. Unit A is currently vacant but was last leased for S900 per month; Unit B is occupied and leased for S775 per month. The tenants pay gas and electric bills. Both the fumaces and water heaters are newer. This is a great opportunity 

in a fabulous rental market! Home is being sold in "as is" condition with a one year home warranty. 

Agent Only Remarks: Tenants rights: Showing only after 4pm weekdays and after 10am weekends. 

Listing Agreement: Exclusive Right 

To Sell 

RP: No 

Name 

Primary Phone 

Email 

Other 

List Off: 

Berkshire Hathaway HomeServices Mi(k231) 

269-344-8599 

scottkellogg@bhhsmi.com 

Fax: 

ListAgt: 

John Bolcato, Jr. Assoc. Broker, 

MA (k202532) 

269-488-0423 

johnbolcato2@gmail.com 

Mobile:269-341-0319 

List Association: 

Greater Kalamazoo Association of REALTORS 

Selling Off: 

REMAX Executive (g188300) 

269-673-3800 

brian@grar.com 

Selling Agt: 

Brian K McDonald(gmcdo7018) 

616-291-4411 

medonaldliving@gmail.com 

Showing Instructions: Tenant, 

must contact LA at 488-0423, code needed. 

Listing Date: 

01/12/2023 

Status Change Date: 03/01/2023 

Terms: 

Conventional 

Pending Date: 

01/17/2023 

Sold Date: 

0224/2023 

Seller Concessions: None 

Sold Sale Conditions: Not Applicable 

Sold Price: 

$139,500 

All information deemed matenally reliable but not guaranteed. Interested parties are encouraged to verify all information. Copyright 2025 MichRIC®, LLC All rights reserved. vDMCA Notice The property on this sheet has been made available on 08/04/2025 6:37 PM and may not be listed by the office/agent presenting this information. 

Heavier rain soon

Page 69

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$115,000 to $174,999 

3 Bedrooms 

3 Bathrooms 

2000 to 2009 

2,001102,500 sqft 

$175,000 or More 

4 Bedrooms or More 

4 Bathrooms or More 

2010 and Later 

2,501 sq ft or More 

PRINT 

[2 SHARE 

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© 3Yearsv 

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12 Months v 

Median Sales Price 

MAY 2025 

— 49007 

$135K 

$130K 

May 2023 

49007: $127,000 

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$125K 

$120K 

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$110K 

$105K 

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12023 

12024 

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Sales Price 

New Listi 

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Homes for S 

Pending Sales 

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Price Per Sq Ft 

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Shows to Pending 

Shows Per Listing

Page 70

THE 

CITY 

OF 

Management & Budget Services 

- Notice of March Board of Review Action - 

Assessor's Office 

/ 

241 West South Street 

mn 

Parcel Number: (6-22-153-001 

z 

Property Address: 

223 W DUTTON ST 

www.kalamazoocity.org 

MCCAMMAN, MATTHEW 

Property Class: 401 

2618 PLAINVIEW ST 

. 

KALAMAZOO 

MI 

49009 

Petition #: Mar24-046 

2 

Date Printed: 03/18/2024 

The Board of Review has completed their review of your property. The Board has made the 

following determination based on the information supplied to them by you or your representative. 

The Board stated the following reason(s) for changing (or not changing) your assessed and/or taxable 

value: 

Board of Review Comments: 

20 

Based on the information provided, the Board determined a change to the assessment was warranted. 

2024 

Original Assessed value (SEV) 

$95,500 

2024 

Board of Review Assessed Value decision 

$85,000 

Please note: If the amounts are the same, then the Board of Review's decision was not to change the value. 

2024 

Original Taxable Value 

$95,500 

2024 

Board of Review Taxable Value decision 

$85,000 

This notice informs you of the action taken by the Board of Review pursuant to your appeal or their review. An effort 

has been made to determine an assessment that is fair in relation to true cash value, as required by law, and equitable 

with respect to other assessments. 

NOTICE: YOUR RIGHT TO FURTHER APPEAL 

If you disagree with the decision of your local Board of Review, a further appeal of the assessed value and/or 

taxable value and/or qualified agricultural property exemption may be made to the Michigan Tax Tribunal, P.O. 

Box 30232, Lansing, MI 48909. 

If you have a Commercial Real, Industrial Real, Development Real, Commercial Personal, Industrial Personal or 

Utility Personal Property; the final date for filing such an appeal is May 31 of the current year, 2024 

If you have an Agricultrual Real, Residental Real, Timber-cut Over Real or Agricultural Personal Property; the 

final date for filing such an appeal is July 31 of the current year, 2024 

Forms to file an appeal with the Michigan Tax Tribunal can be found on the Michigan Tax Tribunal web site. The 

web site is www.michigan.gov/taxtrib 

. Your local assessor may also make this form available.

Page 71

THE 

CITY 

OF 

Management & Budget Services 

- Notice of March Board of Review Action - 

Assessor's Office 

/ 

241 West South Street 

mn 

Parcel Number: 06-22-153-001 

Kilian MI 9004798 

Property Address: 

223 W DUTTON ST 

www.kalamazoocity.org 

MCCAMMAN, MATTHEW 

Property Class: 401 

2618 PLAINVIEW ST 

KALAMAZOO 

MI 

49009 

Petition #: Mar25-112 

Date Printed: 03/26/2025 

The Board of Review has completed their review of your property. The Board has made the 

following determination based on the information supplied to them by vou or your representative. 

The Board stated the following reason(s) for changing (or not changing) your assessed and/or taxable 

value: 

Board of Review Comments: 

30 

INSUFFICIENT INFO TO SUPPORT OWNERS CONTENTION OF VALUE 

2025 

Original Assessed value (SEV) 

$95,800 

2025 

Board of Review Assessed Value decision 

$95,800 

Please note: If the amounts are the same, then the Board of Review's decision was not to change the value. 

2025 

Original Taxable Value 

$87,635 

2025 

Board of Review Taxable Value decision 

$87,635 

This notice informs you of the action taken by the Board of Review pursuant to your appeal or their review. An effort 

has been made to determine an assessment that is fair in relation to true cash value, as required by law, and equitable 

with respect to other assessments. 

NOTICE: YOUR RIGHT TO FURTHER APPEAL 

If you disagree with the decision of your local Board of Review, a further appeal of the assessed value and/or 

taxable value and/or qualified agricultural property exemption may be made to the Michigan Tax Tribunal, P.O. 

Box 30232, Lansing, MI 48909. 

If you have a Commercial Real, Industrial Real, Development Real, Commercial Personal, Industrial Personal or 

Utility Personal Property; the final date for filing such an appeal is May 31 of the current year, 2025. 

If you have an Agricultrual Real, Residental Real, Timber-cut Over Real or Agricultural Personal Property; the 

final date for filing such an appeal is July 31 of the current year, 2025. 

Forms to file an appeal with the Michigan Tax Tribunal can be found on the Michigan Tax Tribunal web site. The 

web site is www.michigan.gov/taxtrib 

. Your local assessor may also make this form available.

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