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Shay Fox, Lisa Recinella, Petitioners V City Of St Joseph, Respondent · 24-003676-TT

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STATE OF MICHIGAN 

DEPARTMENT OF LABOR & ECONOMIC GROWTH 

PROPERTY TAX APPEAL 

DOCKET NUMBER 

MICHIGAN TAX TRIBUNAL 

PETITION FORM 

SMALL CLAIMS DIVISION 

Failure to complete this form, including signature, and return it by filing deadline will result in dismissal. 

If additional space is needed to provide the information requested, please use a separate sheet. 

1. Ps A Name and Address 

. 

2. Agent or Attorney (if any) Name and Address 

Die Tine 

2606 S Duhe 

5 Seen 

Lise, dame 

© 

» 

a 

Petitioner's Daytime Phone No.__ 

2. 

AA 

13415 & 

Agent/Attorney Phone No. 

. 

(residential, agricultural, personal, commercial, industrial, timber cutover, 

3. Clagsification of property Yo! 

£ PAY] Lontisl yo od L personal utility, developmental) 

v 

4. Location of Property: 

City 

Sa 1 4 

Jo Se ot 

Local School District: 

County, 

( YEN ea 

Pewnship 

Volo ST Yos cp bonfc Sedo 5 

5. 

Did Petitioner protest to the Board of Review? 

® 

Yes 

[#) 

No 

If no, please check all applicable reasons below and explain in the 

space provided. 

[I] The Assessment Change Notice was not properly sent to Petitioner prior to the March Board of Review. 

0 Petitioner Is appealing within 30 days of issuance of notice of action taken by July or December Board of Review. 

| Petitioner is appealing a Clerical Error or Mutual Mistake of Fact. 

J Petitioner is appealing within 30 days of issuance of a State Tax Commission Order. 

petitioner is appeating within 35 days of receipt of Notice of Taxable Value Uncapping. 

6. 

Did Petitioner request a Poverty Exemption at the Board of Review? 

[4 p) 

Yes 

@ 

No 

7. Check the reason for this appeal and explain in the space provided. 

Bthe property's true cash value and taxable value are incorrect. (SEE Line by Line instrustions.) 

J The property’s taxable value only is incorrect. 

Une uncapping of the property's taxable value is improper. 

I] Petitioner was denied a property tax exemption. 

[| Petitioner was denied a poverty exemption. 

8. Provide the Board of Review's determination of the state equalized or assessed value and taxable value for each parcel, for each tax year being 

appealed. 

Parcel Number 

Tax Year 

State Equalized Value or 

Taxable Value on Roll 

Assessed Value on Roll 

W-6-0m6- Ong- 00-7 

[20924 | 

322,300 

2A, 287

9. Provide Petitioner's contention or belief of the true cash ( falr market) value and taxabfe value for each parcel, for each tax year being appealed 

Parcel Number 

Tax Year 

True Cash (Fair Market) Value 

Taxable Value Contention 

Contention 

WT 6-006-011-0007 

R024 

| AS00086 

225,000 

10. 

Explain the basis of your appeal. 

11. Does the property have a principal residence exemption of at least 50% for the tax year(s) at issue? 

[eo] Yes: Petitioner is not required to pay a fee for the filing of this appeal. 

I+) No: Petitioner is required to pay a fee for the filing of the appeal. (See Fee Schedule.) 

Failure to remit a required fee with this Form may resuit in dismissal. 

Amount Paid: 

12. 

if not using an agent or attorney, Petitioner is required to sign: 

if using an agent or attorney, only agent or attorney is required to sign: 

PLEASE RETURN THE ORIGINAL AND ONE COPY OF THIS COMPLETED FORM WITH TWO COPIES OF ANY ATTACHMENTS to; Michigan Tax Tribunal, PO Box 

30232, Lansing, MI 48909. 

Keep a copy of the Form and any original attachments for your records. 

The Department of Labor & Economic Growth will not discriminate against any individual or group because of race, sex, religion, age, national origin, color, 

marital status, disability or political beliefs. 

If you need assistance with reading, writing, hearing, etc., under the Americans with Disabilities Act, you may make 

your needs known to this agency. 

For further Information, please contact the Tribunal at: 

PH: (517) 373-3003 

Web Site: www.Michigan.govitaxtribunal 

E-mail: taxtrib@Michigan.gov 

11262 Revised 01/05 

1973 PA 186, As Amended

copes 

STATE OF MICHIGAN 

DEPARTMENT OF LABOR & ECONOMIC GROWTH 

PROPERTY TAX APPEAL 

DOCKET NUMBER 

MICHIGAN TAX TRIBUNAL 

PETITION FORM 

SMALL CLAIMS DIVISION 

Failure to complete this form, including signature, and return it by filing deadline will result in dismissal. 

If additional space is needed to provide the information requested, please use a separale sheet, 

1. P oe Name and Address 

. 

2, Agent or Attorney (if any) Name and Address 

S 

bon Soc 

2606S Sade De, Sy Suen 

Lise I Lgmell 

8 

© 

"AT 

Petitioner's Daytime Phone No.__ 

2 

\ A 

1 BALL 6 

Agent/Attorney Phone No, 

3 

. 

. 

(residential, agricultural, personal, commercial, industrial, timber cutover, 

3. Classification of property “of 

£ AY) Lontisl jy £ persona utility, developmental) 

4 

c 

4. Location of Property: 

City 

<b 

DS 

Local Schoo! District: 

(Ne 

«A 

OR 

’ 

CT 

Yas 

wpd 

, 

County 

\ 

DE v\\ €4\ 

Township 

oo 

ST 

Fos wh bonle Sedo 

5. 

Did Petitioner protest to the Board of Review? 

® 

Yes 

[4 ¥) 

No 

If no, please check all applicable reasons below and explain in the 

space provided. 

[I] The Assessment Change Notice was not properly sent to Petitioner prior to the March Board of Review, 

[I] Petitioner is appealing within 30 days of issuance of notice of action taken by July or December Board of Review. 

[i] Petitioner is appealing a Clerical Error or Mutual Mistake of Fact. 

] Petitioner is appealing within 30 days of issuance of a State Tax Commission Order. 

Tpetitioner is appealing within 35 days of receipt of Notice of Taxable Value Uncapping. 

6. 

Did Petitioner request a Poverty Exemption at the Board of Review? 

[+ )] 

Yes 

[) 

No 

7. Check the reason for this appeal and explain in the space provided. 

BJ The property's true cash value and taxable value are incorrect. (SEE Line by Line Instructions.) 

[I] The property's taxable value only is incorrect. 

[Je uncapping of the property's taxable value is improper. 

LJ Petitioner was denied a property tax exemption. 

LJ Petitioner was denied a poverty exemption. 

8. Provide the Board of Review's determination of the state equalized or assessed value and taxable value for each parcel, for each tax year being 

appealed. 

Parcel Number 

Tax Year 

State Equalized Value or 

Taxable Value on Roll 

Assessed Value on Roll 

W-T76-0me- ong- 00-7 

[2004 

322, 306 

LAS, 287

9. Provide Petitioner's contention or belief of the true cash ( fair market) value and taxable value for each parcsl, for each tax year being appealed 

Parcel Number 

Tax Year 

True Cash {Fair Market) Value 

‘Taxabte Value Contention 

Contention 

WT6-0026-0W17 ~0C0 7 

POLY 

| ASC,006 

LTE ,000 

10. 

Explain the basis of your appeal. 

11. Does the property have a principal residence exemption of at least 50% for the tax year(s) at issue? 

[o) Yes: Petitioner is not required to pay a fee for the filing of this appeal. 

Oo No: Petitioner is required to pay a fee for the filing of the appeal. (See Fee Schedule.) 

Failure to remit a required fee with this Form may result in dismissal. 

Amount Paid: 

12. 

if not using an agent or attorney, Petitioner is required to sign; 

If using an agent or attorney, only agent or attorney is required to sign: 

PLEASE RETURN THE ORIGINAL AND ONE COPY OF THIS COMPLETED FORM WITH TWO COPIES OF ANY ATTACHMENTS to: Michigan Tax Tribunal, PO Box 

30232, Lansing, MI 48909, 

Keep a copy of the Form and any original attachments for your records. 

The Department of Labor & Economic Growth will not discriminate against any individual or group because of race, sex, religion, age, national origin, color, 

marital status, disability or political beliefs. 

If you need assistance with reading, writing, hearing, etc, under the Americans with Disabilities Act, you may make 

your needs known to this agency. 

For further information, please contact the Tribunal at: 

PH: (517) 373-3003 

Web Site: www.Michigan.govitaxtribunal 

E-mail: taxtrib@Michigan.gov 

T7262 Revised 01/05 

1973 PA 186, As Amended

Aa. Mon e~YS 

Shay Fox and Lisa Recinella 

7/9/2024 

2606 S State St, St Joseph MI 

Parcel # 11-76-0026-0117-00-7 

Michigan Tax Tribunal 

P.O Box 30232 

Lansing, MI 48909 

Dear Members of the Michigan Tax Tribunal, 

| hope this letter finds you well. 

| am writing to formally contest the 

property taxes assessed on my property located at 2606 S State St, St 

Joseph, Michigan, parcel # 11-76-0026-0117-00-7. Upon reviewing the 

recent property appraisal, the Board of Review's assessed value 

significantly exceeds the market value of the subject property. 

The assessed value determined by the City of St Joseph is $322,300 with 

taxable value of $293,282. This assessment by the City of St Joseph 

would indicate our house true cash (fair market) value is $644,600. 

The attached appraisal, as of 12/31/2023 indicates that the current 

market value of my property is $450,000. This appraised market value 

is substantially lower by $194,600 than the value determined by the 

Board of Review from the City of St Joseph for tax assessment purposes.

APPRAISAL OF REAL PROPERTY 

LOCATED AT 

2606 S State St 

Saint Joseph, MI 49085 

FOR 

Shay Fox & Lisa Recinella 

2606 State St 

St. Joseph, MI 49085 

OPINION OF VALUE 

450,000 

AS OF 

12/31/2023

idwest Appraisal and Consuiting 

RESIDENTIAL APPRAISAL 

REPORT 

Filo Mo: RG #24026 

Property Address: 

2606 S State St 

City: Saint Joseph 

Stat: mi 

Zip Code: 49085 

1. {County 

Berrien 

Logal Description: 

Com 33'W & 85'S Of NE Cor UNIV Lot 91 SEC 26 TAS R19W TH S 65' Th S62 Deqd6W 116.05 TH 

£9 | S87 Deq31W 141.51 Ft 

Th N 162.63" Th E 156" Th § 35' TH 534 DegSTE 61.11" 

Th E 65' To POB 

Assessor's Parcel #: 

11-76-0026-0017-00-7 

Tax Year. 2023 

RE. Taxes: $ 9,552.80 

Special Assessments: $ 0 

Borrower (f applicable): 

N/A 

_ 

d Current Owner of Record: 

Shay Fox & Lisa Recinella 

Ocoupant: 

3% Owner 

[] Tenant 

[| Vacant 

| [_] Manufactured Housing 

Project Type: 

(J Pub 

[7 Condominium 

[] Cooperative 

[3¢) Olhar (describe) 

Metes and Bounds 

HOA:$ 0 

[1 peryear 

[] per month 

Market Area Name: 

City of St. Joseph 

Map Reference: 35660 

Census Tract: 

0009.00 

Tha purposo of this appraisal is to develop an opinion of: 

Market Value (as defined), or 

|_| other typa of valus (describe) 

This report reflects tha following valus (if not Current, see comments): 

[1 Current (the Inspection Date Is the Effective Date) 

BX Retrospective 

[] Prospsclive 

Approaches developed for this appraisal: 

(¢] Sales Comparison Approach 

3¢ Cost Approach 

[| Income Approach 

(Sea Reconciliation Comments and Scope of Work) 

Property Rights Appraised: 

{3¢ Foo Simple 

[] Leasehold 

[| Leased Fes 

[| Other (describe) 

Intended Use: 

The intended use of the appraisal is to establish a retrospective market value of the subject property as of 12/31/2023 to appeal the taxable 

value of the properly. 

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

Shay Fox & Lisa Recinella 

MARKET 

AREA DESCRIPTION 

Client: 

Shay Fox & Lisa Recinella 

Address: 

2606 State St, 

St. Joseph, M1 49085 

Appraiser. 

ROBERT T. GRASHORN 

Address: 

2800 Cleveland Avenue, St. Joseph, MI 49085 

Location: 

1B Urban 

[J Suburban 

[J Rural 

Predominant 

One-Unit Housing 

Present Land Use 

Change In Land Use 

Built up: 

BQ over76% 

 [] 2676% 

 [] Under 25% 

Goolipancy 

PRICE 

AGE 

| One-Unit 

85%] BX) Not Likly 

Growthrate: 

~~ [] Rapid 

59 Stable 

J Slow 

[B28 owner 

go | 

$(000) 

(yrs) 

[2-4 Unit 

1<%| [J tkely* 

[J] In Process * 

Property values: 

[| Increasing 

Stable 

[1 Declining 

5 Tenant 

20 

75 

low 

0 

|Muli-Unit 

4%| 

* To: 

Demand/supply: 

[5%] Shortage 

(J nBalance 

 [] Over Supply 

| BZ Vacant (0-5%) 

| 

2,500 

High 

145 

|Comm'l 

0% 

Mariating time: 

J) Under 3 Mos. 

[7] 3-6 Mos. 

[] Over 6 Mos. 

| [] Vacant (>5%) 

300 

Pred 

5 

%| 

Market Area Boundaries, Description, and Market Conditions (ncludng support forthe dhove characteristics and fonds): 

Neighborhood boundaries encompass 

Hilltop Road, south and west of the St. Joseph River and east of Lake Michigan. The area is composed of single-family homes of various style, ages 

and construction. The subject's dwelling is compatible with surrounding homes; although, the subject is on the few new-construclion homes found in 

the immediate area as the city is fully developed. The economic base for the area is stable at the present time. Employment is located in within the 

immediate area. More metropolitan areas of Kalamazoo and South Bend are located within 60 miles. All normal amenities are available within the 

area or a short commute. The subject 

is located in the St. Joseph public schools. Lake Michigan, public beaches, and the downtown shopping and 

restaurant areas are within a mile of the subject. The St. Joseph to Stevensville market, as a whole, has been stable in 2023. Sales are down around 

15% as inventory remains low. Exposure times remain under 90 days with 100% list-to-sale price ratios typical in the market. 

Dimensions: 

_55' x 116,05' x 141.51 x IRR - See Attached Plat Map 

Sto Asa: 32.234 of 

Zoning Classification: 

~~ R1-C 

Description: 

Single-Family Detached Residential 

Zoning Compliance: 

(3%) Legal 

[7] Legal nonconforming (grandfathered) 

[7] llegal 

[J No zoning 

Aro CC&Rs applicable? 

[| Yes [ ] No 

(X Unknown 

Have the documents been reviewsd? 

[| Yes DQ No 

Ground Rent (if applicable) 

 § 

/ 

SITE DESCRIPTION 

Highest & Bost Uso as improved: 

(5¢] Present use, or 

[_] Other use (axplain) 

No covenants, conditions or restrictions known to the appraiser outside zoning 

ordinances. 

Actual Use as of Effective Date: 

~~ Single-Family Residential 

Use as appraised in his report: ~~ Single-Family Residential 

Summary of Highest & Best Use: 

The subject's utility and layout are best suited for a single-family home. The subject's improvements and use are legal 

with the current zoning, economically feasible and maximally productive. For these reasons, highest and best use is considered to be single-family 

residential. 

Utllitles 

Public 

Other 

~~ 

ProviderDescription 

| Off-site Improvements 

~~ Type 

Public 

Private | Topography 

Level, Slopes Heavily to Ravine 

Bocticty 

0 

[] ap ses 

 Aguegate BX 

[I] 

[sk 

Largeforthearea 

| 

Gas 

B® 

[J 

indiena Michigan Gas | Cuby/Gulter 

Cement 

5 

[1] 

|Shape 

Imegular 

~ 

Water 

Bg 

[J 

Municipality 

Sidewalk 

Cement 

® 

[J 

[Drainage 

Appears Adequate 

Sanitary Sowor 

B8 

 [] 

Municipality 

Strat Lights 

Typical 

8 

[|View 

B:Res;Ravine 

Storm Sewer 

Mus 

Alloy 

None 

0 

0 

Other site elements: 

B¢) Inside Lot 

[| Comer Lot 

Cul de Sac 

[1] Underground Utiiiies 

 [] Other (describe) 

FEMA Spec Flood Hazard Area 

¢] Yes 

| 

| No FEMA Flood Zona 

A 

FEMA Map #_26021C0103C 

FEMA Map Dato 

4/17/2008 

Ste Comments: 

The site area and dimensions are taken from online resources and subject to a professional survey. The landscape is typical for the 

market. No apparent adverse easements or encroachments were noted. The subject is located on a wooded-ravine lot that allow for seasonal 

privacy. The subject has a walk out basement; however, there is no patio off the basement at the time of the inspection. 

General Description 

[Extorlor Doccription 

Foundation 

Basement 

TT None 

Heating 

Yes 

#ofUnits 

1 

[J Acc.Unit 

{Foundation 

Cement 

Slab 

None 

Area Sq.ft. 

1,506 

Type 

Furnace 

# of Stores 

1 

Exterior Walls 

Vinyl Siding 

Crawl Space 

None 

% Finished 

0 

Fuel 

Gas 

Type BQ Det. [J At. [] 

Roof Surface 

Asphalt Shing. 

Basement 

Full 

Clling 

Joists 

Design (Style) 

Ranch 

Gutters 

& Dvinspts. Aluminum 

Sump Pump 

B¢) 

Walls 

Block 

Cooling 

Yes 

DX] Existing 

[1] Proposed 

[] Und.Cons. | Window Type 

D.HungNVinyl 

Dampness 

 [] None Noted | Floor 

Cement 

Central 

Yes 

Actual Age (Yrs) 

1 

Stomy/Screens 

 Insulated/Screens | Seillsmaiit 

None Noted 

| Outsids Entty walk out 

Other 

None 

£ Effective Age (Yrs) 

1 

Infestation 

None Noted 

H Interior Description 

‘Appliances 

Attic [_]None] Amenities 

Car Storege 

[J None 

1 

| Floors 

Vinyl Plank/Tile 

Refrigerator 

~~ [P]{ Stairs 

[| Fireplaca(s) 

# 

1 

Woodstove(s) # 

0 

Garags 

 #ofcars 

( 

10 

Tot) 

2 [Walls 

Drywall 

Range/Oven 

 [P[Drop Stair []|Patc 

None 

Mach. _2 

Bi TAnvFinish ~~ Painted Wood 

Disposal 

Dscutle 

 B&Deck 

None 

Detach, _o

RESIDENTIAL APPRAISAL REPORT 

Filato; 

RG #24020 

My research 

did 

did not reveal any prior sales or transfers of the subject property for the thre years prior to the effective date of this appraisal. 

Data Source(s): 

Public Records, MichRIC 

1 

1st Prior Subject Sale/Transfer 

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

The subject last sold on 04/24/2021 as 

2 Dale: 

04/24/2021 

vacant land. The site was exposed to the market for 217 days before it sold to the current owners with 

= 

[Prics: 

95,000 

conventional financing. $500 were given in seller concessions. The property had a cement driveway already on 

Source(s): MichRIC #20030685 

the site. 

2nd Prior Subject Sale/Transfer 

Date: 

Price: 

Source(s): 

SALES COMPARISON APPROACH TO VALUE (If developed) 

[_] Tho Sales Comparison Approach was not developed for this apprlsal. 

FEATURE 

I 

SUBJECT 

COMPARABLE SALE # 1 

COMPARABLE SALE # 2 

COMPARABLE SALE #3 

Address 

2608 S State St 

900 Saint Joseph Dr 

1305 Kristen Path 

251 Cavelier 

Ave 

Saint Joseph, 

MI 48085 

____|Saint Joseph, MI 49085 

Saint Joseph, Mi 49085 

Saint Joseph, MI 48085 

Proximity to Subject 

0.57 miles SE. 

2.40 miles S 

2,06 miles 

NE 

Sala Prico 

$ 

NJ 

i$ 530000) 

$ 

365,000] 

Salo Prica/GLA 

$ 

fsqiL}s 

281.91 fsqft 

$266.32 sqft 

$ 

356.50 fsa. 

Data Source(s) 

Inspection 

MichRIC #23017410; DOM 3 

[MichRIC #23018864; DOM 16 

[MichRIC #23140281; DOM 18 

Verification Source(s) 

| Assessor Records 

| Assessor, County Web Site 

Assessor, County Web Site 

Assessor, County Web Site 

VALUE ADJUSTMENTS 

DESCRIPTION 

DESCRIPTION 

+() § Adjust. 

DESCRIPTION 

+) $ Adjust, 

DESCRIPTION 

+) § Adjust. 

Sales or Financing 

AmLth 

olAmLth 

o[AmLth 

0) 

Gonesssions 

Conv;0 

o]Conv.;0 

olconv..0 

0 

Data of Salg/Time 

12/31/2023 

CL: 07/14/2023 

olCL: 07/28/2023 

o|CL: 12/04/2023 

0 

Rights Appraised 

Fee Simple 

Fee Simple 

Fee Simple 

Fee Simple 

Location 

N;Res; 

N;Res; 

N;Res;Near Express 

+50,000|B;Res;Harbor Village] 

250,000] 

Sita 

32.234 sf 

27,442 sf 

+1,200012,000 sf 

+5,050/3,937 sf 

+7,075) 

Viet 

B;Res;Ravine 

B:Res;Ravine 

0JN:Res; 

+17,750|N;Res; 

+33,725 

Design (Style) 

Ranch 

Ranch 

Ranch 

Two-Story 

0 

Qually of Construction 

| Good 

Good 

Good 

Good 

Ago 

1 

6 

4 

1 

Condon 

Excellent 

Excellent 

Excellent 

Excellent 

Above Grade 

Tolal | Bdms| 

Baths 

| Total | Bdmms | 

Baths 

Total | Bams| 

Baths 

Toa 

| Bdms 

Baths 

Room Count 

613] 

20 

713] 

21 

25000 

6 

| 

3 

| 

20 

of 

5 

[3] 

21 

2,500] 

Gross Living Area 

1,526 Sq. 

1,880 sqft 

17,700) 

1,333 sqft. 

+0,650] 

1,892 sqft. 

18,300 

Basement & Finished 

1,526sf0sfwo 

1,873sf1,215sfin 

-37,525|1,333sf0sfin 

+5,000|0sf 

420,250} 

Rooms Below Grade 

None 

Rec,Bed,Bath,Den 

-~10,000f 

[None 

Functional Utilty 

Average 

|Average 

verage 

Average 

Heating/Cooling 

FA/Central 

FA/Central 

[FA/Central 

[FA/Central 

Energy Etficlent tems 

1 Fireplace 

1 Fireplace 

[None 

+2,500|None 

+2,500) 

Garaga/Garport 

2 Car Att. 

2 Car Att. 

2 Car Att. 

2 Car Att. 

Porci/Patio/Deck 

Porches 

Porch, Decks 

-5,000]Porch, Stoop 

+5,000|Porches 

[Pool Fence, Other 

None 

Fence 

-7,500|None 

None 

Net Adjustment (Tota) 

1+ 

Bg- 

Is 

79025) 

PQ + 

[]- 

[8 

94950] 

[1+ 

- 

18 

207.250] 

8 | Adjusted Sale Price 

Nat 

14.9 

Not 

26.7 

of 

Not 

30.7 of 

id 

of Comparables 

Groas 

154 

%$ 

450075 

Gross 

26.7 

o4$ 

449.950] 

Gross 

49.6 %$ 

467,250 

Summary of Sales Comparison Approach 

All four comparables are properties located within the subject's immediate to greater geographic area and likely 

to appeal to a similar segment of the market. Together they represent a range of improvements, designs, sites, location appeal and are all good 

indicators of value. For this report, 

all four bona fide sales were weighted in the final estimate of market value via the weighted averaging approach. 

With this being a retroactive value, no current listings were included in this report. Comparable #1 is considered to be the most similar and is given the 

greatest weight in this report. The home has the most similar location appeal on the wooded-ravine lot, similar ranch design, similar layout and is an 

overall superior home. The final adjusted sale price of 

$450,975 is considered to best represent the subject's market value; hence, 

it was given the 

greatest weight in this report. Comparable #2 is another similar ranch dwelling that was built to a similar design, quality and layout. The property does 

have some inferior features that include a smaller site, residential views and an inferior location near the expressway. The result is a positive 

adjustment bracketing the subject's opinion of value with a low-end comparable. Comparables #3 and #4 are both homes in the city used to offer 

support for the final opinion of value. Comparable #3 is located in Harbor Village, a newer development of Harbor Shores. The property is a site 

condominium with far superior location appeal. The property was included in this report as sales from this development are the only sales found in the 

city limits with new construction comparables that closed in the last 12 moths. Quality of construction and utility are similar despite having a different 

design. Comparable #4 is the least similar of the four comps used in this report. The home is slightly older in age with a higher amount of deferred 

maintenance. 

For this reason, comp #4 is given the least amount of weight in the final opinion of value.

RESIDENTIAL APPRAISAL REPORT 

Fis Mo: RG #24020 

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 valus): 

Vacant land value is typically based upon the 

sale of similar types of property in the area with similar sizes and amenities taken into consideration. With so few vacant land sales in the subject's 

immediate area, the subject's site value is established by the extraction approach. The site did sell in 2021 for $95,000 after it was exposed to the 

open market. 

ESTIMATED 

[| REPRODUCTION OR 

_[3¢] REPLAGEMENT COST NEW 

(OPINION OF SITE VALUE 

95,000 

3 Source of cost data: 

Marshall & Swift, Local Builder Contracts for Similar Homes 

|DWELLING 

1,526 Saft @$ 

305,200 

Quality rating from cost service: 

Good 

Effective date of cost data: 

2023 

1,526 Sqft @$§ 

45780 

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

sft @$ 

1% | The subject's remaining economic life of 59 years is based on a 60 year 

Sif. @$ 

1] 

total economic life. The appraiser has estimated the subject's construction 

Saft @$% 

td 

costs using multiple sources that include local builder contracts for similar 

builds. The appraiser regularly reviews appraisals to determine typical 

(Garagy/Carport 

462 $1. @$ 

13,860 

market costs for new construction. As-is site improvements include the 

Total Estimate of Cost-New 

— 

364,840 

driveway and landscape. 

Loss 

Physical 

Functional 

Extomal 

Depreciation 

6,093 

6,003) 

The cost approach was not weighted due to the difficulty in developing and 

_|Dspreciated Gost of Improvements 

358,747 

supporting estimates of new costs and accrued depreciation and site value. 

_|"As-Is" Valu of Site Improvements 

20,000 

Estimated Remaining Economic Life (if required): 

59 Years 

{INDICATED VALUE BY COST APPROACH 

473.747 

INCOME APPROACH TO VALUE (if developed) 

18¢) The Income Approach was not developed for this appraisal. 

Estimated Monthly Market Rent § 

X Gross Rent Muttiplier 

=$ 

cated 

Valua by Incoms Approach 

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

INCOME APPROACH 

PROJECT INFORMATION FOR PUDs (it applicable) 

[| The Subjsct Is part of a Planned Unit Development. 

Legal Name of Project: 

Describe common elements and recreational facilities: 

Indleated Value by: Sales Comparison Approach $ 

450,000 

Cost Approach (If developed) $ 

473 747 

Income Approach (If developed) $ 

Final Reconciliation 

The greatest weight is given to the sales comparison approach as it reflects the current trends in the market and direct reflection of 

buyers and sellers in the subject's immediate market. The income approach was found to be not applicable due to the primarily owner-occupied area 

and limited rental data for property similar to the subject. The cost approach was not weighted due to the difficulty in developing and supporting 

estimates of new costs and accrued depreciation. 

This appraisal 

is made ] "asis", 

[|] 

subject 

to 

completion 

per 

plans 

and 

specifications 

on 

the 

basis 

of 

a 

Hypothetical 

Condition 

that the 

improvements 

have 

baen 

completed, 

[_] subject 

to the following repairs 

or alterations on 

the basis 

of a Hypothetical Condition that the repairs 

or alterations have besn completed, [] subject 

to 

the following required inspection based on the Extraordinary Assumption that the condition 

or deficiency does not require ateration or repair: 

RECONCILIATION 

BY 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 Appralser's Certifications, 

my (our) rion of the Market Value (or other specified value type), as defined herein, of the 

real property that 

Is the subject] 

of this 

report 

Is: 

§ 

450,000 

asof: 

12/31/2023 

, Which 

[s the effective date of this appraisal. 

If Indicated above, this Opinion of Value Is subject to iypothetica Conditions and/or Exirsordinary Assumptions Included In this report. 

See atiached addenda. 

properly understood without reference 

to the information contained 

in 

the complete 

report. 

A tus 

and 

complete copy 

of 

this 

report contains _20 _ pages, 

including 

exhibits which 

are considered 

an integral 

part 

of the report. 

This appraisal 

report may not 

be 

Attachad Extibits: 

BR scope of Work 

BR) Limiting Cond /Certcatons 

~~ B Namatve Addendum 

1 photograph Addenda 

B80 Sketch Addendum 

D4 Map Addenda 

B81 Additional Sales 

[J cost Addendum 

C1 Food Addendum 

LJ Manu. House Addendum 

<¢| 

[] Hypothetical Gondions 

] 

(0 Liane 

0 

0 

Client Gortact: 

Client Name: 

Shay Fox & Lisa Recinella 

E-Mail 

Address: 

2606 State St, St. Joseph, Mi 49085 

APPRAISER 

SUPERVISORY APPRAISER (if required) 

or CO-APPRAISER (if applicable)

DDITIONAL COMPARABLE SALES 

SALES COMPARISON APPROACH 

A 

0 

FloRo: 

RG #24026 

I 

FEATURE 

SUBJECT 

COMPARABLE SALE # 

4 

COMPARABLE SALE # 

5 

COMPARABLE SME # 

6 

Address 

2608 S State St 

2801 Veronica Dr 

t___.SaintJosenh. M4085 

ISaint Joseph Mi 40085 

‘Proximity to Subject 

0.45 miles SW 

— 

Sala Price 

s 

Ny 

5 

30000 

Te 

Is 

Salo PricgGLA 

5 

Jarls 

1mpoajsan. 

§ 

Joa] 

B 

fsa] 

] 

Data Sourca(s) 

Inspection 

MichRIC #23032357; DOM 70 

Verification Seurca(s) 

Assessor Records 

| Assessor, County Web Site 

VALUE ADJUSTMENTS 

DESCRIPTION 

DESCRIPTION 

+H} § Adjust, 

DESCRIPTION 

+0) § Adjust. 

DESCRIPTION 

+) § Adjust. 

Salas or Financing 

ArmLth 

of 

Concessions 

Conv.;0 

lt; 

Data of Sale/Time. 

12/31/2028 

CL: 12/28/2023 

0 

Rights Appraised 

Fee Simple 

Fee Simple 

Location 

N:Res; 

N;Res; 

Sta 

32.234 of 

11,262 sf 

+5.2504 

View 

8;Res:Ravine 

N:Res: 

+16,0001 

Design (Style) 

Ranch 

Two:Story 

9 

Quallly of Construction 

Good 

Good 

N 

Age 

1 

26 

25,000 

Condltion 

Excelent 

Average 

+100,0001 

Above Grade 

Total 

|Bms| 

Baths | Tota | Bmns| 

Baths 

Tota | Bams| 

_Balhs 

Total | Bams| 

Baths 

Room Gott 

613 

20 

le!lal 

a1 

-2.500f 

Gross Living Area 

1,526 sak, 

1,700 sqft. 

8,700} 

sgt. 

set 

Basemant & Finished 

1,5265f0sfwo 

010s1560sfin 

14,600} 

Rooms Bakow Grade 

None 

Reg Room 

- 

Functional Utility 

Average 

Average 

Heating/Cooling 

FA/Central 

EA/Central 

Energy Efficlent tems 

1 Fireplace 

1 Fireplace 

Garaga/Carpoit 

2 Car Att, 

1 Car Att. 

Porch/Patio/Dack 

Porches 

Porch, Decks 

-5,000 

Poa Fence,Other 

None 

Fence 

| 

7,500] 

Not Adjustment (Total) 

R+ 

O- 

Js 

tor080] 

[1+ 

[]- 

Is 

Dlx 

[3:18 

Adjusted Sale Price 

Kat 

B79 

Hat 

0.0 

Ret 

“4 

of Comparables 

Grogs 

5.7 

o$ 

427,950] 

Gross 

00 

8 

Ol 

Gross 

$ 

Summary of Sais Comparison Agproach

Supplemental Addendum 

Fils No. RG #24026 

| Borrower/Gllert 

WA 

— 

Property Address 

2606 S State St 

CRy 

Saint Joseph 

County Begvien 

State 

m1 

ZipCode 

40085 

Client 

Shay Fox & Lisa Recinella 

Scope of Work: 

The order and this addendum are part of the scope of work for this report. Scope of work has been performed in compliance 

with the requests made in the order for this assignment and it identifies the scope of the assignment, user and use of this report. 

Upon receiving this assignment, 

| identified the res property being appraised and collected property-specific data available 

through public records when available, county websites, and the MichRIC database (alse referred to as the MLS). 

1 then 

completed an interior and exterior inspection of the subject property, noting the condition, quality, utility, amenities, and 

architectural style. Zoning data was obtained from public records, office files, and or city/county planning offices. The collected 

data was used to develop a profile of the subject and to perform a search of the market for the most similar closed comparable 

sales, pending and active listings. 

In some cases, additional comparables are used to bracket specific features of the subject's 

property. The sales were inspected from the street. The sales were confinmed and verified from public records when available, 

various data services, MichRIC, and when necessary with an agent or the owner. The sales data was analyzed, and a value 

conclusion derived. This report was then completed, signed, and released fo the client. The report is intended to satisfy 

requirements of USPAP. 

intended UselUsers: 

Pursuant to rule 2-2(c) (x) of the Uniform Standards of Professional Appraisal Practice, this restricted use report is intended for 

the use of only the client named in the order for this report, not for the purpose of loaning money and that anyone else or any 

otfter use of this report is considered to be an unintended user and/or use. The appraiser is not obligated nor liable for any 

other users or use of this report for any damages caused by or created by the use of this report. 

In addition, this appraisal was prepared in accordance with the requirements of Title Xi of The Financial Institutions Reform, 

Recovery and Enforcement 

Act of 1989, as amended (12 U.8.C. 3331 et seq.) and any implementing regulations. 

Data Collection/Verification: 

Appraiser has access to the local MLS tor sales research in the area. itis the most common and reliable source to the Industry 

of appraising for sale information. 

it is not the common practice for the appraiser or its peers to go fo the local assessment 

offloe or reaitors for sales not reported in the MLS data system. There may be other sales that were "far sale by owner” that the 

appraiser did not utilize in the report that may be better comparables. However, this is only done when the properly is a 

“specialty” properly or no other sales can be found. Then the research is extended to include these other means, Economic 

factors are relied oh public INTOIMation In the news and/or business associates i the area of the subject Jor changes, addiions, 

problems known fo the public. Appraiser is not responsible for any private or undisclosed factors not known in the public. 

Actual fload determination is provided by an outside vendor thru the Alamode/Wintotal software. This information is relied on by 

the appraiser and it peers as factual and its peers as factual correct data. Zone areas are taken from township records. 

Appraiser In not FEMA certified and therefore it is up to the client to determine whether or not flood insurance is required based 

upon zone area and their own requirements. 

Sales Comparison: 

The sales presented were chosen from a search of recently closed sales in the MLS files. This search consisted of the 

neighborhood first. Then if comparables sales were not located. The search was extended to the general market area up to 5 

miles, 

It this did not reveal any comparable sales then the search then the search was extended beyond that. 

|he sales used 

are the best sales for comparison to the subject properly that my research revealed or used to bracket a specific feature of the 

subject. 

In this Michigan community it is common for the comparable sales to be farther than one mile from the subject andfor 

over six months old. These are conditions that are common in this market area and should not be considered to be negatives 

regarding the subjects marketabiity. 

Sale History: 

Due to the part time status of the assessors or the inability to research records on the internet because of the lack of technology 

itis not uncommon practice for appraisers in this area to rely completely on the MLS data for previous sold/transfers of the 

subject and comparables contained within the body of this appraisal report. 

the information and data is veritied when possible 

but otherwise is gathered and verified from MLS, County and owner records and brokers fies. 

All information contained herein 

is deemed reliable but not guaranteed. 

Fleld Work: 

Appraiser only observed such items that are visible to the eye without moving or ¢limbing into any additional areas ot the subject 

premises. Appraiser did not inspect crawl space or attic areas. 

If there is a welf or septic/private system the appraiser is not 

qualified to determine water conditions or working conditions of these systems. They ate just noted as being there. The 

appraiser does note when utilities are on and operational, however does not test every outlet, switch, faucet, etc. 

If the home 

has private sewer system the appraiser is not responsible if there is no septic tank and it is just running into the ground because

Supplemental Addendum 

File No. RG #24006 

Boower/Client 

N/A 

Proparty Address 

2606 S State St 

City 

Saint Joseph 

County 

Berrien 

Stato 

m1 

Up Gods 

49085 

Gliant 

Shay Fox & Lisa Recinella 

Opinlon/Goneiusion: 

All the above gathered data has bean analyzed with comparison of site size, location, style, age, condition, GLA, amenities and 

out buildings just to name a few of the factors and has been supplied on 

a grid with appropriate adjustments from market sale 

data and other peers work, comments and adjustments used in reports. This information has heen processed and completed 

which then gives a market value for the subject. 

In most cases this value is then averaged to give a reasonable market value 

for the subject. 

If there is one sale, however, better than the rest that sale may be relied on more. This is further explained in 

the summary of The Sales Comparison Approach. 

Legal Liabliity: 

The appraiser is not an attorney nor implies to be. Any legal issue arising from the data collection that is addressed in the 

report needs fo be discussed with an attorney at law. The appraiser in not educated in the law field and is not giving Jegal 

advise on any issues. The cost approach is another value indicator that is completed in some reports. itis not intended to be 

refied upon for insurance replacement cost or any other purpose other than a method of appraising. The appraiser is nota 

surveyor and was not provided a survey of the property unless otherwise specifically noted and attached to this report. No 

known adverse easements, encumbrances or encroachments were noted or told to appraiser at time of inspection. Therefore If 

the lot lines are a concer then a survey needs to be completed by a licensed surveyor, 

Condition of the improvements: 

Physical depreciation is based on the average life method. The subject was started in 2022 and completed in 2023 according 

to the local assessor records. Quality of construction is good for the area with custom upgrades that include a finished garage, 

quartz counter fops in the kitchen, custom-tiled master bath, wood-burning fireplace in the living room, a tankless hot-water 

heater and a walk out basement, Standard builder grade materials were used in the remainder of the home including the 

framing, design, standard-grade cabinets, vanities, windows, flooring, lighting and fixtures, An interior inspection revealed the 

improvements to be in good physical condition with no apparent deferred maintenance. The subject's utilities were on and 

operational at the time of the inspection. 

Functional utility is average for the area. The homie has an efficient layout with average room sizes and good storage space. 

The basement was unfinished at the time of the inspection. There is an open porch off the front of the home and one off the 

back. There is no patio off the walk out basement. 

The physical inspection of the property took place on 02/23/2024. The effective date for this appraisal is 12/31/2023. The 

appraiser has made an exfracrdinary assumption that all features of the subject property were the same on the effective date as 

they were when the property was inspected. 

If this assumption were found to be false in any way, this report may warrant 

modification.

Subject Photo Page 

Borower/Client 

N/A 

Property Address 

2606 S State St 

Cly 

Saint Joseph 

County Berrien 

State 

MI 

Zip Godo 

49085 

Client 

Shay Fox & Lisa Recinella 

Subject Front 

2606 S State St 

Sales Price 

NA 

Gross Living Area 

1,526 

Total Rooms 

6 

Total Bedrooms 

3 

Total Bathrooms 

20 

Location 

N;Res; 

View 

B;Res;Ravine 

Site 

32,234 sf 

Quality 

Good 

Age 

1 

Subject Rear 

Subject Street

Photograph Addendum 

Bomower/Client 

N/A 

Properly Address 2606 

S State St 

cy 

Saint Joseph 

_ 

Gouty Bein 

Sub wi 

ZpCodo 4g0s 

| 

Clon! 

Shay Fox & Lisa Recinella 

Side View 

Side View

Photograph Addendum 

| Borrower/Client 

N/A 

Property Address 

2606 S Stale St 

oty 

Saint Joseph 

County Berrien 

State 

m1 

Zip Code 

49085 

Clent 

Shay Fox & Lisa Recinella 

Master Bedroom 

Master Bath 

Bedroom #2 

Mud/Laundry Room

Photograph Addendum 

Borower/Client 

N/A 

Property Address 

2606 S State St 

Gilly 

Saint Joseph 

Gounly Berrien 

Stats 

m1 

ZipCode 

49085 

Client 

Shay Fox & Lisa Recinella 

Walk Out Basement 

Unfinished Basement

Comparable Photo Page 

Borower/Client N/A 

Property Address 

2606 S State St 

| City 

Saint Joseph 

Counly 

Berrien 

State 

MI 

Zip Gods 

49085 

Client 

Shay Fox & Lisa Recinella 

Comparable 

1 

800 Saint Joseph Dr 

Prox. to Subject 

0.57 miles SE 

Sale Price 

530,000 

Gross Living Area 

~~ 1,880 

Total Rooms 

7 

Total Bedrooms 

3 

Total Bathrooms 

21 

Location 

N;Res; 

View 

B;Res;Ravine 

Site 

27,442 sf 

Quality 

Good 

Age 

[] 

1305 Kristen Path 

Prox. to Subject 

2.40 miles 8 

Sale Price 

355,000 

Gross Living Area 

~~ 1,333 

Total Rooms 

6 

Total Bedrooms 

3 

Total Bathrooms ~~ 2.0 

Location 

N;Res; Near Express 

View 

N;Res; 

Site 

12,000 sf 

Quality 

Good 

Age 

4 

Comparable 8 

251 Cavelier Ave 

Prox. to Subject 

2.06 miles NE 

Sale Price 

674,500 

Gross Living Area 

1,892 

Total Rooms 

5 

Total Bedrooms 

3 

Total Bathrooms ~~ 2.1 

Location 

B:Res;Harbor Village

Comparable Photo Page 

Bomower/Cllent 

N/A 

| Properly Address 

2606 S State St 

city 

Saint Joseph 

County Berrien 

State 

M1 

Zp Code 

49085 

Client 

Shay Fox & Lisa Recinella 

Comparable 4 

= 

2801 Veronica Dr 

Prox. fo Subject 

0.45 miles SW 

Sales Price 

320,000 

Gross Living Area 

~~ 1,700 

Total Rooms 

9 

Total Bedrooms 

3 

Total Bathrooms ~~ 2.1 

Location 

N;Res; 

View 

N;Res; 

Site 

11,252 sf 

Quality 

Good 

Age 

26 

Prox. to Subject 

Sales Price 

Gross Living Area 

Total Rooms 

Total Bedrooms 

Total Bathrooms 

Location 

View 

Site 

Quality 

Age 

Comparable 6 

Prox. to Subject 

Sales Price 

Gross Living Area 

Total Rooms. 

Total Bedrooms 

Total Bathrooms 

Location

Plat Map 

€PBeacon” Berrien County, Mi 

157 64670:0036:00-7; 

13-76:4670.0098 00.0 

1176-4670:0105.00'6 

1-764670:0104:00 

670.010300°3 

1.76 4676:0100-00°4 

$6700107-90- 

11576 0026:0111.02'5 

11-764670.0039-00'5 

53%76:955: 

= Interstate 

“Major Arterial 

Minor Arterial 

11:76-1026-01172007, 

Roads 

— <zllothervalues> 

J 

| 

[]Parcets2023 

11-78°4460-0001 6.6 

# 

i 

HB 

[5 Lee Michigan 

11.76:0026:0117/01% 

ns 

wir —_ 

4 

11576-0026 0315-0310 

# 

; 

» 

1147610026.0119.02'0 

| 

14-76 4480.00 1£-00-7 

Parca iD 

11-76-0026-0117-00-7 

Alternate 

iD 

n/a 

Owner Address RECINELLALISA 

Sec/Twp/Rng 

nla 

Class 

401 

FOXSHAY 

Property Address 2606 SSTATE ST 

Acreage 

0.74 

3340 N LAWNDALE 

AVE APT1S 

SAINT JOSEPH 

CHICAGO, 

IL 60618 

District 

11020 

Brief Tax Description 

COM 33'W 

6: 85'S OF NE COR UNIV LOT 91 SEC 26 TASR19W 

TH S 55' TH S82DEG36'W 116.05' TH S87DEG31'W 

14151 FT THN 162.53" THE 156' TH S 35' TH S34DEG57'E 61.11' THE 65'TO POB 

(Mote: Mot to be used on legal documents) 

Date crested: 2/28/2024 

Last Data Uploaded: 2/28/2024 1:11:05 AM 

Devaloped bg) Schneider 

FEDS PATIAL

| 

| 

| 

Building Sketch 

Bomower/Clignt 

N/A 

Property Address 

2606 S State St 

Cty 

Saint Joseph 

County Bervien 

Stemi 

ZpCods_ 

40085 

Client 

Shay Fox & Lisa Recineila 

21.5' 

18.5' 

in 

Dining 

Porch 

® 

Room 

w= 

Bedroom 

"s 

15.5 

in 

5 

Bath 

[uv] 

. 

Lg 

Kitchen 

Living Room 

Bedroom 

Mud/ 

pH 

Laundry 

EY 

on 

Master 

5 

Bath 

S | Foyer 

a 

nN 

Two-Car Attached 

oF 

Garage 

6' 

Master 

= 

Bedroom 

= 

2 

vi 

- 

13 

21 

in 

Porch 

a 

+ 

19’ 

“TOFM Shatch by 3 fa mode 

- 

Area Calculations Summary 

Living Area 

i 

1 

= 

Co 

“Catculation Details 

ER 

First Floos 

1526 Sq ft 

13x10 

= 

130 

3B5x21 

= 703.5 

19 x 36 

= 

684 

5x8 

= 

28

Location Map 

| Borrower/Client 

N/A 

Property Address 2606 

S State St 

Gly 

Saint Joseph 

County Berrien 

Stalo pi 

ZpCodo 

49085 

a la mode, inc. 

Brown lo 

Soutmvest 

Michigan 

Regiunal 

Apert 

COMPARABLE No, 3 

Q 

Caveller Ave 

2,06 miles NE 

5 

li 

Con 

Benton Harbot 

’ 

I H 3 

£3 

PY 

Blakes 

Msoea |r , 

COMPARABLE No. 2 

Tre Garden fea Aven 

af 

1305 Kristen Path 

foo w 

2.40 miles § 

- 

4 

Ed 

x 

:

Assum 

N 

1 Conditions & 

Scope of 

— 

Property Address: 

2606 S State St 

Cily: Saint Joseph 

Olle: 

Shay Fox & Lisa Recinella 

Address. 

2606 State St, 

St. Joseph, Mi 49085 

Appraiser. 

ROBERT T_GRASHORN 

Address: _ 2800 Clevetand Avenue, St. Joseph, MI 45085 

STATEMENT OF ASSUMPTIONS & LIWITING CONDITIONS 

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

assumes that the litle is good and marketable and, therefore, will rot render any opinions about the title. The property is appraised on the basis of it 

being under responsible ownership. 

tions. Limiting 

~- The appraiser may have provided a skefch 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 (hat 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 coutt because he or she made an appraisal of the property in question, uniess specific 

arrangements to do so have been made beforehand. 

~ If the cost approach fs included in this appraisal, the appraiser has estimated the value of the Jand in the cost approach at its highest and best uss, 

| 

and the improvements at their contributory value. These separate valuations of the [and 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 fimited 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 befieves them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that 

were fumished by other parties. 

- 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 workmaniike 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. 

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

advertising, public refations, 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 concems about such potential negative factors are 

encouraged fo 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 

repait. 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 pasties assume no obligation, liability, or 

accountability, and will not be responsible for any unauthorized use of this report or its conclusions.

Certifications 

FioNo:_RG #24026 

Property Address: 

2606 S State St 

City: Saint Joseph 

State: M1 

Zip Code: 49085 

Client: 

Shay Fox & Lisa Recinella 

Address: 

2608 State St, St. Joseph, MI 49085 

Appraiser. 

ROBERT T. GRASHORN 

Address: 

2800 Cleveland Avenue, St. Joseph, MI 49085 

APPRAISER'S CERTIFICATION 

| 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. 

- 

| 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, 

| 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. 

- 

1 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. 

~1 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, 

| 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 fille 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 Comptroiler 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. 

Cliant Contact 

Glignt Name: 

Shay Fox & Lisa Recinella 

E-Mail; 

Address: 

2606 State St, St. Joseph, MI 49085 

APPRAISER 

SUPERVISORY APPRAISER (if required)

Borrower/Client 

N/A 

Fila No. RG #24026 

Property Addiuss 

2606 S State St 

City 

Saint Joseph 

County 

Berrien 

State 

M1 

Zip Code 49085 

Client 

Shay Fox & Lisa Recinella 

APPRAISAL AND REPORT IDENTIFICATION 

This Report is ane of the following types: 

[1 Appraisal Report 

(A written report prepared under Standards Rule 

 2-2(a) 

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

5 Restricted 

(A written report prepared under Standards Rule 

~~ 2-2(b) 

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

Appralsal Report 

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

Comments on Standards Rule 2-8 

[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, | have no present or prospective interest In the property that is the sublect of this report and no- personal interest with respect 

to the parties involved. 

- Unless otherwise indicated, | 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, 

- | 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, | have made a personal inspection of the property that is the subiect 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). 

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: 

90 Days 

A reasonable exposure time for the subject property at the opinion of value indicated is estimated to be 80 days. This time frame was estimated from 

the median time on the market for sales in the subject's market area and the comparables used in this report to establish the value. 

Comments on Appralsal and Report Identification 

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

Robert T Grashom, Lic #1203071353, State License Appraiser, completed all the work on this report. 

All 

appraisers are required to be licensed/certified and are requlated by the Michigan Department 

of Licensing 

and Regulatory 

Affairs, 

P.O. Box 

30670, Lansing, MI 48909. 

This appraisal conforms to the uniform standards of professional appraisal practice (USPAP). 

The appraiser of this report, as indicated in the signature section, has not provided prior services for the subject property in the 36 months prior to the 

effective date of this report.

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

BUREAU OF PROFESSIONAL LICENSING 

£.0. BOX 30870 

LANSING, hi! 48009 

ROBERT THOMAS GRASHORM 

2800 CLEVELAND AVENUE 

SAINT 

JOSEPH. 

NI 

490485 

GRETCHER witTACR 

GovERROR 

License 

STATE OF NICHIGEN 

~ SEPARTNENT OF LICEWSIHG AND REGULATORY AFFATAS 

BUREAU 

OF PROFESSIONAL LICENSING 

STATE LICENSED 

REAL ESTATE APPRAISER LICENSE 

ROBERT THOMAS GRASHORN 

LICENSE Ho. 

EXPIRATION DATE 

%203071353 

07/3L/2025 

 23LBAUOOVND 

COMPLAINT INFORMATION: 

THE ISSUANCE OF THIS LICENSE SHOULD NOT BE CONSTRUED 

AB A WAIVER, DISIISSAL OR ACQIRESCENGE YO ANY 

COMPLAINTS GR VIOLATIONS PENDING AGAINST THE 

LICENSEE, [TS AGENTS OR EMPLOVEES. 

FUTURE CONTACTS: 

YOU SBOULD DIRECT INGUIRIES REGARDING 

THIS LICENSE OR 

ADDRESS CHANGES YO THE DEPARTMENT OF LICENSING AND 

REGULATORY AFFAIRS BY EMAILING BPLHELPGRICHIGAN.GOV 

OR CALL (817) 261-0199 

STATE 

OF MICHIGAN 

DEPARTMENT 

OF LICENSING AND REGULATORY AFFAIRS 

BUREAU 

OF PROFESSIONAL LICENSING 

STATE LICENSED 

REAL 

ESTATE APPRAISER LICENSE 

ROBERT THOMAS GRASHORN

2024 BOARD OF REVIEW DECISION 

FROM 

CITY OF ST. JOSEPH 

700 BROAD ST. 

ST. JOSEPH, MI 49085 

NAME AND ADDRESS OF OWNER OR PERSON NAMED ON ASSESSMENT ROLL: 

PROPERTY IDENTIFICATION: (Parcel Code required. Property address 

and legal description optional.): 

11-76-0026-0117-00-7 

2606 S STATE ST 

RECINELLA LISA & FOX SHAY 

2606 S STATE ST 

COM 33'W & 85'S OF NE COR UNIV LOT 91 SEC 26 T4S R19W 

SAINT JOSEPH MI 49085 

TH S 55' TH S82DEG36'W 116.05 TH S87DEG31'W 141.51 FT 

THN 162.53 THE 156' TH S 35' TH S34DEGS7'E 61.11' THE 

65'TO POB 

THIS PROPERTY IS CLASSIFIED 

401 

(RESIDENTIAL-IMPROVED) 

Thank you for attending the 2024 March Board of Review 

The Board has completed their review of parcel number 

11-76-0026-0117-00-7 

and has made the following determination based on the information you supplied. 

Board of Review Comments 

THE 2024 MBOR HAS CONSIDERED YOUR APPEAL AND DEEMED THE ASSESSEMENT TO BE ACCURATE - 

NO CHANGE 

AV= 322,300 

TV= 293,282 

[2024 ORIGINAL ASSESSED VALUE 

322,300 

| 

[2024 "BOARD OF REVIEW" ASSESSED VALUE 

322,300 

| 

(If the above amounts are the same, no revisions have occured) 

2024 ORIGINAL TAXABLE VALUE 

293,282 

2024 "BOARD OF REVIEW" TAXABLE VALUE 

293,282 

2024 PRINCIPAL RESIDENCE EXEMPTION/QUALIFIED AG 

100.0000 

If you disagree with the decision of the Board of Review regarding tentative taxable value, further appeal may be made to the Michigan Tax 

Tribunal, P.O. Box 30232, Lansing, Mi. 48909 by May 31 for Commercial Real, Industrial Real, Developmental Real, Commercial Personal, 

Industrial Personal and Utility Personal Property and by July 31 for Agricultural Real, Residential Real, Timber - Cut Over Real, and 

Agricultural Personal Property. Effective March 1, 2013, the Tribunal is no longer able to accept Small Claims letter appeals. You are 

required to file a petition to initiate a new Small Claims appeal. Instructions and forms can be found at www.michigan.gov/taxtrib/

RBM adnmen 

ds 

Shay Fox and Lisa Recinella 

7/9/2024 

2606 S State St, St Joseph Mi 

Parcel # 11-76-0026-0117-00-7 

Michigan Tax Tribunal 

P.O Box 30232 

Lansing, M1 48909 

Dear Members of the Michigan Tax Tribunal, 

| hope this letter finds you well. 

| am writing to formally contest the 

property taxes assessed on my property located at 2606 S State St, St 

Joseph, Michigan, parcel # 11-76-0026-0117-00-7. Upon reviewing the 

recent property appraisal, the Board of Review's assessed value 

significantly exceeds the market value of the subject property. 

The assessed value determined by the City of St Joseph is $322,300 with 

taxable value of $293,282. This assessment by the City of St Joseph 

would indicate our house true cash (fair market) value is $644,600. 

The attached appraisal, as of 12/31/2023 indicates that the current 

market value of my property is $450,000. This appraised market value 

is substantially lower by $194,600 than the value determined by the 

Board of Review from the City of St Joseph for tax assessment purposes.

APPRAISAL OF REAL PROPERTY 

LOCATED AT 

2606 S State St 

Saint Joseph, MI 49085 

FOR 

Shay Fox & Lisa Recinella 

2606 State St 

St. Joseph, MI 49085 

OPINION OF VALUE 

450,000 

AS OF 

12/31/2023

Midwest Appraisal and Gonsufling 

RESIDENTIAL APPRAISAL REPORT 

Floto: RG #24026 

Property Address: 

2606 S State St 

City: Saint Joseph 

State: mI 

Zip Code: 49085 

County: 

Berrien 

Legal Description: 

com 33W 

& 85'S Of NE Cor UNIV Lot 91 SEC 26 TAS R19W TH S 55' Th S82 Deg36'W 116.05' 

TH 

i ‘SB7 Deg31W 141.61 Ft 

Th N 162.53" 

Th E 156' Th § 35' TH 534 DegSTE 

61.11" Th E65 

TopoB 

Assessor's Parcel #: 

 11-76-0026-0017-00-7 

Tax Year. 2023 

RE. Taxes: § 9,552.80 

‘Special Assessments: $ 0 

Borrower (if applicable): 

N/A 

3 Current Owner 

of Record: 

Shay Fox & Lisa Recinella 

Occupant: 

[Bq Owner 

[1] Tenant 

[] Vacant 

[1 Manufactured Housing 

Project Type: 

[] PUD 

[] Condominlum 

_[] Cooperative 

[9] Other (describe) Metes and Bounds 

HOA: $ 0 

[7] peryear 

[7 per month 

Market Area Name: __ City of St. Joseph 

Map Reference: 35660 

Census Tract 

0009.00 

‘The purpose of this appralsal Is to devalop an opinion of: 

13] Market Value (as defined), or 

[| other typa of value (describe) 

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

[] Current (the Inspection Data Is the Effective Date) 

D4 Retrospective] Prospective 

H Approaches developed for this appraisal: 

[€] Sales Comparison Approach 

Cost Approach 

[] Income Approach 

(See Reconclliation Comments and Scope of Work) 

Property Rights Appraised: 

DQ) Feo Simple 

[] Leasehold 

 [] Leased Fee 

[ ] Other (describe) 

Intondad Use: 

The intended use of the appraisal is to establish a retrospective market value of the subject property as of 12/31/2023 to appeal the taxable 

| value of the property. 

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

Shay Fox & Lisa Recinella 

Client: 

Shay Fox & Lisa Recinella 

Address: 

2606 State St, St. Joseph, MI 49085 

Appraiser. 

ROBERT T. GRASHORN 

Address: 

2800 Cleveland Avenue, St. Joseph, MI 40085 

Location: 

[2 Urban 

[J Suburban 

[| Rural 

Predominant 

One-Unlt Housing 

Present Land Use 

Change In Land Use 

Buit up: 

DQ over7s% 

 [] 2576% 

 [] Under 26% 

Qocupenay 

PRICE 

AGE | One-Unit 

85%] BX) Not Likaly 

Growth rate: 

[J Rapid 

Stable 

[J Stow 

[BQ owner 

go | 

$(000) 

(yrs) 

[2-4 unit 

1<%| 

J Ukety* 

[J In Process * 

Property values: 

[] Increasing 

(3) Stable 

[1 Declining 

BQ Tenant 

20 

75 

low 

o 

[Multi-Unit 

4%] 

* To: 

Demand/supply: 

[3¢) Shoitage 

[J inBalance 

[J Over Supply 

|B Vacant (05%) | 2.500 

High 

145 

|Comm'l 

10% 

oo 

Marketing time: 

DQ) Under 3 Mos. 

[] 3-6 Mos. 

[] Over 

8 Mos. 

|] Vacant (>5%) 

300 

Pred 

65 

[3 

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

Neighborhood boundaries encompass 

properties located within the City of St. Joseph and immediate surrounding areas. The subject's immediate boundaries encompass the area north of 

Hilltop Road, south and west of the St. Joseph River and east of Lake Michigan. The area is composed of single-family homes of various style, ages 

and construction. The subject's dwelling is compatible with surrounding homes; although, the subject is on the few new-construction homes found in 

the immediate area as the city is fully developed. The economic base for the area is stable at the present time. Employment is located in within the 

immediate area. More metropolitan areas of Kalamazoo and South Bend are located within 60 miles. All normal amenities are available within the 

area or a short commute. The subject is located in the St. Joseph public schools. Lake Michigan, public beaches, and the downtown shopping and 

| 

restaurant areas are within a mile of the subject. The St. Joseph to Stevensville market, as a whole, has been stable in 2023. Sales are down around 

15% as inventory remains low. Exposure times remain under 90 days with 100% list-to-sale price ratios typical in the market. 

Dimensions: 

_55' x 116.05' x 141.51" x IRR - See Attached Plat Map 

Site Area: 

32,234 sf 

Zoning Classification: 

~~ R1-C 

Description: 

Single-Family Detached Residential 

Zoning Compliance: 

(Q Legal 

[7] Legal nonconforming (grandfathered) 

[J ltegal 

__[] Nozoning 

Aro CC&Rs applicable? 

[| Yes [ | No 

Dd Unknown 

Have the documents been reviewed? 

[J Yes ({ No 

Ground Rent (if applicable) 

§ 

/ 

Highest & Bast Use as improved: ~~ [3] Presantuse, or 

[_] Other use (explain) 

~ No covenants, conditions or restrictions known to the appraiser outside zoning 

ordinances. 

Actual Use as of Effective Date: 

Single-Family Residential 

Use as appraised inthis report: 

Single-Family Residential 

Summary of Highest & BestUse: 

~~ The subject's utility and layout are best suited for a single-family home. The subject's improvements and use are legal 

with the current zoning, economically feasible and maximally productive. For these reasons, highest and best use is considered to be single-family 

residential. 

Utllitles 

Public 

Other 

~~ Provider/Description 

| Off-site Improvements ~~ Type 

Public 

Private | Topography 

Level, Slopes Heavily to Ravine 

Eeicty 

0 

[J 

aep 

Strot 

Aggregate 

XO 

|S 

Large for the area 

Gas 

B® 

[OO 

Indiana Michigan Gas | Cut/Guttsr 

Cement 

[0 

[Shape 

Imegular 

Water 

0 

Municipality 

Sidewalk 

Cement 

B 

[OJ 

|Dnage 

Appears Adequate 

Sanitary Sowor 

[J 

Municipality 

Streat Lights 

Typical 

Bg 

[OO 

[View 

B;Res;Ravine 

Stor Sewer 

[X) 

Municipality 

Aly. 

None 

0 

0 

Other site elements: 

[¢) Inside Lot] Gomer Lot 

Gul de Sac 

[ ] Underground Utilities 

[] Other (describe) 

FEMA Spec'l Flood Hazard Asa 

DC Yes [ ] No FEMA Flood Zone 

A 

FEMA Map # 26021C0103C 

FEMA Map Date 

4/17/2008 

Sito Comments: 

~~ The site area and dimensions are taken from online resources and subject to a professional survey. The landscape is typical for the 

market. No apparent adverse easements or encroachments were noted. The subject is located on a wooded-ravine lot that allow for seasonal 

privacy. The subject has a walk out basement; however, there is no patio off the basement at the time of the inspection. 

MARKET AREA DESCRIPTION 

SITE DESCRIPTION 

General Description 

[Exterior Description 

Foundation 

Basement 

[1 Nona 

Healing 

Yes 

#ofUntts 

1 

[J Acc.Unit 

| Foundation 

Cement 

Slab 

None 

Area Sq.Ft. 

1,526 

Type 

Furnace 

# of Storles 

~~ 

1 

Exterior Walls 

Vinyl Siding 

Crawl Space 

None 

% Finished 

0 

Fuel 

Gas 

Type [€) Det. [] At. [] 

Roof Surface 

Asphalt Shing. 

|Basement 

Full 

Celling 

Joists 

Design (Style) 

Ranch 

Gutters & Dvinspis. Aluminum 

Sump Pump 

Bg) 

Walls 

Block 

Cooling 

Yes 

DQ Existing [7] Proposed [] Und.Cons. | Window Type 

D.Hung/Vinyl 

| Dampness 

[] None Noted 

|Floor 

Cement 

Gontral 

Yes 

Actual Age (Vis) 

~~ 

1 

StomyScreens 

 Insulated/Screens | Settlement 

None Noted 

| Outsido Entry walk out 

Other 

None 

Effective Age (Yrs) 

1 

Infestation 

None Noted 

Interior Description 

Appliances 

Attic 

[_]None| Amenities 

Car Storage 

J None 

Floors 

Vinyl Plank/Tile 

Refrigerator 

~~ P]| Stairs. 

[| Fireplace(s) # 

1 

Woodstova(s) # 

0 

Garage 

#ofcars 

( 

10 

Tot) 

Walls 

Drywall |Rangy/Oven 

 [P]|Drop Stair 

[]|Patio 

None 

Mach. _2 

ROVEMENTS

| 

| 

| 

| 

RESIDENTIAL APPRAISAL REPORT 

Fito; RG #24006 

My research 

did 

«id not reveal any prior sales or transfers of tha subject property forthe trea years prior to the effective date of his appraisal. 

Data Sotrea(s): 

Public Records, MichRIC 

1st Prior Subject Sale/ Transfer 

Analysis of salg/transter history and/or any cient agreement of sala/listing: 

The subject last sold on 04/24/2021 as 

Dato: 

04/24/2024 

vacant fand. The site was exposed to the market for 217 days before it sold to the current owners with 

Price: 

95,000 

conventional financing. $500 were given in seller concessions. The property had a cement driveway already on 

Sowca(s): MichRIC #20030685 

the site. 

2nd Prlor Subject Sale/Transfer 

Dato: 

~{ 

Price: 

+ | Sourca{s): 

| 

SALE COMPARISON APPROACH TO VALUE (it developed) 

|] Tha Sales Comparison Approach was not developed for this appraisal. 

FEATURE 

| 

SUBJECT 

COMPARABLE SALE # 1 

COMPARABLE SALE # 2 

COMPARABLE SALE # 3 

Address 

2606 S State St 

800 Saint Joseph Dr 

1305 Kristen Path 

251 Cavelier Ave 

] 

Sant Joseph, 

Mi 46085 

Saint Joseph, MI 48085 

Saint Joseph, MI 40085 

Saint Joseph, Mi 49085 

: {Prodmity to Subject 

+:10.57 miles SE 

2.40 mites § 

2,06 mites 

NE 

 [sdlaPrice 

s 

NA 

Sas 

530, 

E 

As 

assooof 

$ 

674.500] 

1 Salo Prioy/GLA 

s 

fsatls 

281.91 sah 

Ls 

2e632/sft 

$s 

___35650/sqft. 

| Data Sourca(s} 

Inspection 

MichRIC #23017410; DOM 3 

MichRIC #23016864; DOM 16 

MichRIC #231402681; DOM 18 

| 

Varification Source{s) 

Assessor Records | Assessor, County Web Site 

Assessor, County Web Site 

Assessor, County Web Site 

VALUE ADJUSTMENTS 

DESCRIPTION 

DESCRIPTION 

+{-) § Adjust. 

DESCRIPTION 

+{} § Adjust. 

DESCRIPTION 

+() § Adjust, 

| Sales or Financing 

ArmLth 

OfArmLth 

OjAmLth 

0) 

_ {Concessions 

Conv; 

oconv;0 

glconv..0 

0) 

Dats of Sale/me 

12/31/2023 

CL: 07/14/2023 

OJCL: 07/28/2023 

OJCL: 12/04/2023 

[¢ 

Rights Appraised 

Fee Simple 

Fee Simple 

Fee Simple 

Fee Simple 

| 

Location 

N:Res; 

N;Res; 

N;Res;Near Express. 

+50,000{B;Res;Harbor Village 

250,000] 

i 

32.234 sf 

127.442 sf 

+1,200§12,000 sf 

+5,05013,037 sf 

+7,075] 

B;Res;Ravine 

B;Res;Ravine 

OIN:Res; 

+17,750|N;Res; 

433,725] 

Ranch 

Ranch 

Ranch 

Two Story 

0] 

Good 

Good 

Good 

Good 

1 

6 

4 

1 

Excellent 

Excslient 

Excellent 

Excellent 

Total | Bdmms] 

Baths 

| Total | gdm 

Baths 

Told | Bdms| 

Baths 

Total ; Bdms| 

Baths 

8 

3 

20 

7 

I 

3 

2.3 

2500; 

8 

3 

20 

ao 

5 

3 

21 

2,500] 

1,526 4 

1,880 Saft 

17,700] 

1,333 soft 

+9,650] 

1,802 54ft 

18,300] 

Basement & Fnishad 

1,528sf0stwo 

1,873sf1,2155fin 

-37,52611,3335f0sfin 

+5,000{0sf 

+20,250) 

Roams Below Grads 

None, 

Rec.Bed,Bath,Den 

10,000] 

None. 

Functional Utility 

Average 

Average 

Average 

Average 

Haating/Cooling 

FA/Central 

FA/Cental 

FA/Central 

FA/Central 

| Energy Etficlert Homs 

1 Fireplace 

1 Fireplace 

None 

+2 500]None 

+2,500) 

6 Garaga/Carport 

2 Car Att. 

2 Car Att. 

2 Car Att. 

2 Car Att. 

2 PorcivPatio/Deck 

Porches 

Porch, Decks 

-5,000| Porch, Stoop 

+5,000{Porches 

5 Pool Fence, Other 

None 

Fence 

-7,500]None 

None 

/ 

1 [Not Adjusimont (Toa) 

[lr MIs 

zoos) 

DO+ 

[1- 

[8 

saos0f 

[1+ 

M- 

[8 

207.260) 

8 Adjusted Sele Prise 

: 

Not 

149.4 

Net 

274 

Mato 

307 4 

of Gamparables 

: 

Groga:54 

48 

450975) 

‘Grogs 

26.7: 

848 

440.9500 

Gross® 

© 

406 

ofS 

467.250] 

Summary of Sales Gomparlsan Approach 

All four comparables are properties located wilhin the subject's immediate to greater geographic area and likely 

“21 

to appeal to a similar segment of the market. Together they represent a range of improvements, designs, sites, location appeal and are al good 

| 

indicators of value. For this report, all four bona fide sales were weighted in the final estimate of market value via the weighted averaging approach. 

With this being a retroactive value, no current listings were included in this report. Comparable #1 is considered to be the most similar and is given the 

| areatest weight in this report. The home has the most similar location appeal on the wooded-ravine lot, similar ranch design, similar layout and Is an 

overall superior home. “The final adjusted sale price of $450 S751 is considered to best represent the sublecls market value; hence, 

it was given the 

| 

| have soma inferior features that include a smaller site, residential views and an inferior location near the expressway. The result is a positive 

{| adjustment bracketing the subject's opinion of value with a jow-end comparable. Comparables #3 and #4 are both homes in the city used fo offer 

support for the final opinion of value. Comparable #3 is located in Harbor Village, a newer development of Harbor Shores. The property is a site 

condominium with far superior location appeal. The property was included in this report as sales from this development are the only sales found in the 

| 

{ city limits with new construction comparables that closed in the fast 12 moths. Quality of construction and utility are similar despite having a different 

| 

design. Comparable #4 is the teast similar of the four comps used in this report, The home is slightly older in age with a higher amount of deferred 

| maintenance. For this reason, comp #4 is given the least amount of weight in the final opinion of value.

RI ESIDENTIAL APPRAISAL REPORT 

FiloNo;_RG #24026 

[ [COST APPROACH TO VALUE. (It 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): 

Vacant land value is 

typically 

based upon the 

sale of similar types of properly in the area with similar sizes and amenities taken into consideration. With so few vacant land sales in the subject's 

immediate area, the subject's site value is established by the extraction approach. The site did sell in 2021 for $95,000 after it was exposed to the 

open market. 

ESTIMATED 

_[_] REPRODUCTION OR 

REPLAGEMENT COST NEW 

[OPINION OF SITEVALUE 

___ ooo. 

95,000 

3 Source of cost dala: 

Marshall & Swift, Local Builder Contracts for Similar Homes 

[DWELLING 

1,526 Sqft @$ 

305,200 

S Quality rating from cost service: 

Good 

Effective date of cost data: 

2023 

1,526 SIL. @$ 

45780 

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

Saft. @$ 

% 1 The subject's remaining economic life of 59 years is based on a 60 year 

SIR. @$ 

total economic life. The appraiser has estimated the subject's construction 

SifL@$ 

costs using multiple sources that include local builder contracts for similar 

builds. 

The appraiser regularly 

reviews appraisals to determine 

typical 

Garage/Carport 

462 SFL @$ 

13,860 

market costs for new construction. As-is site improvements include the 

Total Estimate of Cost-New 

- 

364,840 

driveway and landscape. 

Loss 

Physical 

Functional 

Exomal 

Depreciation 

6,003 

6,003) 

The cost approach was not weighted due to the difficulty in developing and _ [Deprecated Cost of Improvements 

358,747 

supporting estimates of new costs and accrued depreciation and site value. 

_|"As-ls" Valug of Sfts Improvements 

20,000 

Estimated Remaining Economic Life (if required): 

59 Years [INDICATED VALUE BY COSTAPPROACH 

____ 

. 

=$ 

473.747 

INCOME APPROACH TO VALUE (ff developed) 

[3¢ The Income Approach was not developed for this appraisal. 

Estimated Monthly Markst Rent § 

X Gross Rent Multiplier 

=$ 

Indicated Value by Income Approach 

INCOME APPROACH 

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

PROJECT INFORMATION FOR PUDs (if applicable) 

[| The Subject is part of a Planned Unit Development. 

Legal Name of Projact: 

PUD 

Describe common elements and recreational facilities: 

Indicated Value by: Sales Comparison Approach$ 

450,000 

Cost Approach (If developed) $ 

473 747 

Income Approach (if developed) $ 

Final Reconciliation 

The greatest weight is given to the sales comparison approach as it reflects the current trends in the market and direct reflection of 

buyers and sellers in the subject's immediate market. The income approach was found to be not applicable due to the primarily owner-occupied area 

and limited rental data for property similar to the subject. The cost approach was not weighted due to the difficulty in developing and supporting 

estimates of new costs and accrued depreciation. 

RECONCILIATION 

This appraisal 

is made (4 “asis”, 

[] 

subject 

to 

completion 

per 

plans 

and 

specifications 

on 

the 

basis 

of 

a 

Hypothetical 

Condition 

that the improvements 

have 

been 

completed, 

[] subject to the following rapairs 

or alterations 

on the basis 

of 

a Hypothetical 

Condition that the repairs 

or alterations 

have been completed, [] subject 

to 

the following required Inspection based 

on 

the 

Extraordinary Assumption that the condition 

or deficiency does not require alteration 

or repair: 

34 This report 

Is also 

subject to 

other Hypothetical CondHions 

and/or Extraordinary Assumptions 

as specified 

in th attached addenda. 

Based on the degree of Inspection 

of the subject properly, as Indicated below, defined Scope of Work, Statement of Assumptions and Limiting Conditions, 

and Appralser's Certiffcations, my om } prin of the Market Value (or other speolfied value type), as defined herein, of the real property that Is the subject, 

of this report 

Is: 

$ 

,asof: 

12/31/2023 

, Which Is the effective date of this appraisal. 

If Indicated above, thls Opinion of aie Is subject to Hypothetical Conditions and/or Extraordinary Assumptions Included 

In this report. 

See attached addenda. 

A tug 

and 

complete copy 

of this 

report contains 

20 

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: 

BX Scope of Work 

DX Limiting Cond /Certiications 

BX] Narrative Addendum 

DX protograph Addenda 

Sketch Addendum 

DX Map Addenda 

DX Additional Sales 

LJ cost Addendum 

[J Flood Addendum 

[J Manu. House Addendum 

<t| 

[7] Hypothetical Conditions 

0 

BY License 

[mn] 

[ml] 

Gllont Contact: 

Gllont Name: ~~ Shay Fox & Lisa Recinella 

E-Mail: 

Address: 

2606 State St, 

St. Joseph, MI 49085 

APPRAISER 

SUPERVISORY APPRAISER (if required)

ADDITIONAL COMPAR! 

FEATURE 

SUBJECT 

ABLE SALES 

Filo! 

RG #24026 

COMPARABLE SALE # 

4 

COMPARABLE SALE # 

§ 

010. 

Ronadosh 

COMPARABLE SALE # 

6 

Address 

2606 S State St 

Saint Joseph, 

MI 49085 

2901 Veronica Dr 

Saint Joseph, MI 49085 

Proximity to Subject 

0.45 miles SW 

Salo Prico 

$ 

N 

$ 

320,000] 

$ 

$ 

Salo Pricg/GLA 

$ 

softls 

188.24 fst 

Isaft 

$ 

fst. 

Data Source(s) 

Inspection 

MichRIC #23032357; DOM 70 

Verification Source(s) 

| Assessor Records 

| Assessor, County Web Site 

VALUE ADJUSTMENTS 

DESCRIPTION 

DESCRIPTION 

+() $ Adjust. 

DESCRIPTION 

+() $ Adjust. 

DESCRIPTION 

+() § Adjust. 

Sales or Financing 

 ArmLth 

of 

Concessions 

Conv.;.0 

0) 

Date of Sale/Tima 

12/31/2023 

CL: 12/28/2023 

0) 

Rights Appraised 

Fee Simple 

Fee Simple 

Location 

N;Res; 

N;Res; 

Sito 

32,234 sf 

11,252 sf 

+5,250 

View 

B:Res;Ravine 

N;Res; 

+16,000 

Design (Style) 

Ranch 

 Two-Story 

of 

Quallty of Construction 

Good 

Good 

Ago 

1 

26 

+25,000) 

Condition 

Excellent 

Average 

+100,000 

Above Grade 

Tota [Bdms| 

Bas | Tota 

| Bams| 

Baths 

Total | Bams| 

Baths 

Tota 

| Bdms| 

Baths 

Room Gount 

6 

| 

3] 

20 

[ola 

21 

2.500] 

Gross Living Area 

1,526 sat. 

1,700 Saft 

-8,700) 

sqft 

sqft 

Basement & Finished 

1,5265f0sfwo. 

910s1560sfin 

-14,600) 

Rooms Below Grads 

None 

Rec Room 

Functional Utility 

Average 

Average 

Heating/Cooling 

FA/Central 

FA/Central 

| Energy Efficlent tems 

[1 Fireplace 

1 Fireplace 

Garage/Carport 

2 Car Att. 

1 Car Att. 

PorchvPatio/Deck 

Porches 

Porch, Decks 

-5,000} 

Pool, Fence, Other 

None 

Fence 

-7,500) 

Net Adjustmont (Tota) 

K+ 

O- 

Is 

17950] 

[T+ 

[J- 

[8 

O+ -s 

Adjusted Sale Price 

Not 

33.7 + 

Not 

0.0 o 

Net 

L 

of Comparables 

Gross 

57.7 

%$ 

427,950] 

Gross 

0.0 

&$ 

0| 

Gross 

$ 

Summary of Sales Comparison Approach 

SALES COMPARISON APPROACH

Supplemental Addendum 

Fis No. RG #24028 

Bomower/Clisnt 

WA 

Property Address 

2606 § State St 

Oty 

Saint Joseph, 

Goudy Berrien 

Stato 

pal 

ZipCode 

49085 

Client 

Shay Fox & Lisa Recinella 

Scope of Work: 

The order and this addendum are part of the scope of work for this report, Scope of work has been performed in compliance 

with the requests made in the order for this assignment and it identifies the scope of the assignment, user and use of this report. 

Upon receiving this assignment, 

| identified the real property being appraised and collected property-specific data available 

through public records when available, county websites, and the MichRIC database (also referred to as the MLS). 

! then 

completed an interior and exterior inspection of the subject property, noting the condition, quality, utility, amenities, and 

architectural style. Zoning data was obtained from public records, office files, and or city/county planning offices. The collected 

data was used to develop a profile of the subject and to perform a search of the market for the most similar closed comparable 

sales, pending and active listings. 

In some cases, additional comparables are used to bracket specific features of the subject's 

property. The sales were inspected from the street. The sales were confirmed and verified from public records when available, 

various data services, MichRIC, and when necessary with an agent or the owner. The sales data was analyzed, and a value 

conclusion derived. This report was then completed, signed, and released to the client. The report is intended to satisfy 

requirements of USPAP. 

intended Use/Users: 

Pursuant 

to rule 2-2(c) (x) of the Uniform Standards of Frofessionai Appraisal Practice, this restricted use report is intended for 

the use of only the client named in the order for this report, not for the purpose of loaning money and that anyone else or any 

other use of this report is considered to be an unintended user and/or use. The appraiser is not obligated nor itable for any 

other users or use of this report for any damages caused by or created by the use of this report. 

In addition, this appraisal was prepared in accordance with the requirements of Title XI of The Financial institutions Reform, 

Recovery and Enforcement Act of 1989, as amended (12 U.S.C. 3331 et seq.) and any implementing regulations. 

Data Collectlon/Verification: 

Appraiser has access 10 the local MLS tor sales research in the area. 

itis the most common and reliable Source to the maustry 

of appraising for sale information. 

It is not the common practice for the appraiser or its peers to go to the local assessment 

offics or realtors for sales not reported in the MLS data system. There may be other sales that were "for sale by owner" that the 

appraiser did not utilize in the report that may be better comparables. However, this is only done when the property is a 

"specialty" property or no other sales can be found. Then the research is extended to include these other means. Economic 

factors are relied on public ntormation in the fiews and/or business associates In the area of the subject lor changes, additions, 

problems known to the public. Appraiser is not responsible for any private or undisclosed factors not known in the public. 

Actual flood determination is provided by an outside vendor thru the Alamode/Mintotal software. This information is relied on by 

the appraiser and it peers as factual and its peers as factual correct data. Zone areas are taken from township records. 

Appraiser in not FEMA certified and therefore it is up to the client to determine whether or not flood insurance is required based 

upon zone area and thelr own requirements. 

Sales Comparison: 

The sales presented were chosen from a search of recently closed sales in the MLS files. This search consisted of the 

neighborhood first. Then if comparables sales were not located. The search was extended fo the general market area upto 5 

miles, 

i 

this did not reveal any comparable sales then the search then the search was extended beyond that. 

Ihe sales used 

are the best sales for comparison fo the subject property that my research revealed or used to bracket a specific feature of the 

subject. 

In this Michigan community it is common for the comparable sales to be farther than one mile from the subject and/or 

over six months old. These are conditions that are common in this market area and should not be considered to be negatives 

regarding the subjects marketability. 

Sale History: 

Due to the part time status of the assessors or the inabllity to research records on the internet because of the lack of technology 

it is not uncommon practice for appraisers in this area to rely completely on the MLS data for previous sold/transfers of the 

subject and comparables contained within the body of this appraisal report. 

Ihe information and data is verified when possible 

but otherwise is gathered and verified from MLS, County and owner records and brokers files. All information contained herein 

is deemed reliable but not guaranteed. 

Field Work: 

Appraiser only observed such items that are visible to the eye without moving or chimbing into any additional areas of the subject 

premises. Appraiser did not inspect crawl space or attic areas. 

if there is a well or septic/private system the appraiser is not 

qualified to determine water conditions or working conditions of these systems. They are just noted as being there. The 

appraiser does note when utilities are on and operational, however does not test every outlef, switch, faucet, etc. 

If the home 

has private sewer system the appraiser is not responsible if there is no septic tank and it is just running into the ground because

Supplemental Addendum 

His No. RG #24026 

Borower/Client 

N/A 

Property Address 

_ 2606 S State St 

Oy 

Saint Joseph 

County Berrien 

Stale 

pi 

ZpCods 

49085 

Client 

Shay Fox & Lisa Racinelia 

Opinion/Conclusion: 

All the above gathered data has been analyzed with comparison of site size, location, style, age, condition, GLA, amenities and 

out buildings just to name a few of the factors and has been supplied on 

a grid with appropriate adjustments from market sale 

data and other peers work, comments and adjustments used in reports. This information has been processed and complated 

which then gives a market value for the subject. 

In most cases this value is then averaged to give a reasonable market value 

for the subject. 

If there is one sale, however, better than the rest that sale may be relied on more. This is further explained in 

the summary of The Sales Comparison Approach. 

Legal Liabllity: 

The appralser is not an attorney nor implies to be. Any legal issue arising from the data collection that is addressed in the 

report needs to be discussed with an attorney at law. The appraiser in not educated in the law field and is not giving legal 

advise on any issues. The cost approach is another value indicator that is completed in some reports. 

[tis not intended to be 

relied upon for insurance replacement cost or any other purpose other than a method of appraising. The appraiser is nota 

surveyor and was not provided a survey of the property unless otherwise specifically noted and attached to this report. No 

known adverse easements, encumbrances or encroachments were noted or told to appraiser at time of inspection. Therefore if 

the lot lines are a concern then a survey needs to be completed by a licensed surveyor. 

Condition of the improvements: 

Physical depreciation is based on the average life method. The subject was started in 2022 and completed in 2023 according 

to the local assessor records. 

Quality of construction is good for the area with custom upgrades that include a finished garage, 

quartz counter tops in the kitchen, custom-tiled master bath, wood-buming fireplace in the living room, a tankless hot-water 

heater and a walk out basement. Standard builder grade materials were used in the remainder of the home including the 

framing, design, standard-grade cabinets, vanities, windows, flooring, lighting and fixtures. An interior inspection revealed the 

improvements to be in good physical condition with no apparent deferred maintenance. The subject's utilities were on and 

operational at the time of the inspection. 

Functional utility is average for the area. The home has an efficient layout with average room sizes and good storage space, 

The basement was unfinished at the time of the inspection. There is an open porch off the front of the home and one off the 

back. There is no patio off the walk out basement. 

The physical inspection of the property took place on 02/23/2024. The effective date for this appraisal is 12/31/2023. The 

appraiser has made an extraordinary assumption that all fealures of the subject property were the same on the effective date as 

they were when the property was inspected. 

If this assumption were found to be false in any way, this report may warrant 

modification,

Subject Photo Page 

Borower/Client 

N/A 

Property Address 

2606 S State St 

Clty 

Saint Joseph 

County Berrien 

Stato 

wy 

Zp Godo 

40085 

Client 

Shay Fox & Lisa Recinella 

Subject Front 

2606 S State St 

Sales Price 

NA 

Gross Living Area 

1,626 

Total Rooms 

6 

Total Bedrooms 

3 

Total Bathrooms 

20 

Location 

N;Res; 

View 

B;Res;Ravine 

Site 

32,234 sf 

Quality 

Good 

Age 

1 

Subject Street

Photograph Addendum 

| Bomovier/Client 

N/A 

Property Address 

2606 S Stale St 

— 

a 

is 

Cty 

Saint Joseph 

County Berrien 

Stalg 

Client 

Shay Fox & Lisa Recinella 

Side View 

Side View 

Interlor of Garage 

Kitchen

Photograph Addendum 

| Borrower/Client 

N/A 

Property Address 

2606 S State St 

City 

Saint Joseph 

Counly 

Berrien 

State 

m1 

Zip Code 

49085 

Client 

Shay Fox & Lisa Recinella 

Master Bedroom 

Master Bath 

Bedroom #2 

Mud/Laundry Room

Photograph Addendum 

Borrower/Client 

NIA 

Property Address 

2606 S Stale St 

City 

Saint Joseph 

Gounly Berrien 

Stato 

m1 

Zip Godo 

49085 

Client 

Shay Fox & Lisa Recinella 

Walk Out Basement 

Unfinished Basement

Comparable Photo Page 

Address 

2606 S State St 

Joseph 

Counly 

Berrien 

Stata 

MI 

ZipCode 

49085 

Shay Fox & Lisa Racinella 

Comparable 1 

200 Saint Joseph Dr 

Prox. fo Subject 

0.57 miles SE 

Sale Price 

530,000 

Gross Living Area 

1,880 

Total Rooms 

7 

Total Bedrooms 

3 

Total Bathrooms ~~ 2.1 

Location 

N;Res; 

View 

B;Res;Ravine 

Site 

27,442 sf 

Quality 

Good 

Age 

6 

1305 Kristen Path 

Prox. to Subject 

2.40 miles S 

Sale Price 

355,000 

Gross Living Area 

1,333 

Total Rooms 

6 

Total Bedrooms 

3 

Total Bathrooms 

20 

Location 

N;Res;Near Express 

View 

N;Res; 

Site 

12,000 sf 

Quality 

Good 

Age 

4 

Comparable 3 

251 Cavelier Ave 

Prox. to Subject 

2.06 miles NE 

Sale Price 

674,500 

Gross Living Area 

1,892 

Total Rooms 

5 

Total Bedrooms 

3 

Total Bathrooms 

21 

Location 

B;Res;Harbor Village

Comparable Photo Page 

Saint Joseph 

Courly Berrien 

Stato 

MI 

Zip Codo 

49085 

Shay Fox & Lisa Recinella 

Comparable 4 

2901 Veronica Dr 

Prox. to Subject 

0.45 miles SW 

Sales Price 

320,000 

Gross Living Area 

1,700 

Total Rooms 

9 

Total Bedrooms 

3 

Total Bathrooms ~~ 2.1 

Location 

N;Res; 

View 

N;Res; 

Site 

11,252 sf 

Quality 

Good 

Age 

26 

Comparable 5 

Prox. to Subject 

Sales Price 

Gross Living Area 

Total Rooms 

Total Bedrooms 

Total Bathrooms 

Location 

View 

Site 

Quality 

Age 

Comparable 6 

Prox. to Subject 

Sales Price 

Gross Living Area 

Total Rooms 

Total Bedrooms 

Total Bathrooms 

Location

Plat Map 

€®Beacon” Berrien County, Mi 

11:76:4670:0096:00:73 

11-76-4670:0098-00.0 

11-76-4670:0106.006 

11-76-4670-0104:00:011:76 46700103003 

11.76-4670-0100-00-4 

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11-76-0026:0119%00:0 

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Parcel ID 

11-76-0026-0117-00-7 

AlternateID n/a 

Owner Address RECINELLALISA 

Sec/Twp/Rng 

nla 

Class 

401 

FOX SHAY 

Property Address 2606S STATE ST 

Acreage 

0.74 

3340 N LAWNDALE 

AVE APT1S 

SAINT JOSEPH 

CHICAGO, 

IL 60618 

District 

11020 

Brief Tax Description 

COM 33'W& 85'S OF NE COR UNIVLOT 91 SEC 26 TASR19W 

TH S 55' TH S82DEG36'W 116.05' 

TH S87DEG31'W 

141.51 FT THN 162.53' THE 156' TH S$ 35' TH S34DEG57'E 61.11' THE 65TO POB 

(Note: Not to be used on legal documents) 

Date created: 2/28/2024 

Last Data Uploaded: 2/28/2024 1:11:05 AM 

Developed by@) Schneider 

GEOSPATIAL

Bullding Sketch 

| Barrower/Client 

N/A 

Property Address 2606 

S State St 

cy 

Saint Joseph 

Courty_Beryien 

Ste 

p41 

ZpCods 40085 

Client 

Shay Fox & Lisa Recinella 

21.5 

18.5 

in 

Dining 

Porch 

«© 

Room 

Bedroom 

15.5' 

in 

3 

Bath 

© 

- 

© 

Kitchen 

Living Room 

Bedroom 

Mud/ 

ry 

Laundry 

[= 

in 

Master 

S | Foyer 

Bath 

~N 

Two-Car Attached 

o 

1 

Garage 

6 

Master 

[— 

Bedroom 

= 

9 

ul 

13 

3 

21 

in 

porch 

a 

~< 

19’ 

TOTAL Skakch by 3 a made 

Area Calculations 

Summa 

SAL 

AL 

mL 

rar 

Living Area’ 

i 

AEE 

: 

Hi SRR 

‘Caituiation Details’ 

SE 

First Floor 

1526 5q ft. 

13x10 

= 

130 

335x%21 

= 703.5 

19x 36 

= 

684 

9S x5 

= 

28

Location Map 

| Borrowier/Client 

N/A 

Property Address 2606 

S State St 

oly 

Saint Joseph 

Counly Berrien 

Stato 

Zip Code 

49085 

Cliont 

Shay Fox & Lisa Recinella 

a la mode, inc. 

COMPARABLE No, 3 

251 Cavelier Ave 

2.06 miles 

NE 

(toni fio 

E Brita Ave. 

% 

» 

£ Main 51 

Benton Harbor 

ie. 

| 

SUBJECT 

| 2606S State St 

COMPARABLE No. 4 

2901 Veronica Dr 

0.45 mil 

-

Assumptions, Limiting Conditions & Scope of Work 

Filo: RG #24026 

Property Address: 

Clly: s: 

State: MI 

2606 S State St 

aint Joseph 

Tip Goda: 49085 

Gliont: 

Shay Fox & Lisa Recinella 

Address: 

2606 State St, St. Joseph, 

MI 49085 

raiser. 

___ROBERT T. GRASHORN 

Address: 

2800 Cleveland Avenue, St. Joseph, MI 49085 

TATEMENT 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 fitle 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 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 

amangements 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 comect. The appraiser does not assume responsibility for the accuracy of such items that 

were fumished by other parties. 

- 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 salisfactory 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.

Certifications 

FiloNo: RG #24026 

Property Address: 

2606 S State St 

City: Saint Joseph 

Stato: MI 

Zip Gode: 49085 

Clon: __ Shay Fox & Lisa Recinella 

Address: 

2606 State St, St. Joseph, Mi 49085 

Appralser.___ROBERT T. GRASHORN 

Address: 

2800 Cleveland Avenue, St. Joseph, Mi 49085 

APPRAISER'S CERTIFICATION 

| 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. 

- 

1 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, 

| have performed no services, as an appraiser or in any other capacity, regarding the properly that is the subject 

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

- 

| 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. 

- 

1 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, 

| 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. Areasonable 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. 

Clint Contact: 

Cllont Namo: ~~ Shay Fox & Lisa Recinella 

E-Mail: 

Address: _ 

2606 State St, St. Joseph, MI 49085 

APPRAISER 

SUPERVISORY APPRAISER (if required)

Boower/Client 

N/A 

File No. RG #24026 

|Proparty Address 

2606 S State St 

City 

Saint Joseph 

County 

Berrien 

State m1 

ip Code_49085 

Client 

Shay Fox & Lisa Recinella 

APPRAISAL AND REPORT IDENTIFICATION 

This Report Is ana of the following types: 

[] Appraisal Report 

(A written report prepared under Standards Rule 

2-2(a) 

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

Restricted 

(A written report prepared under Standards Rule 

2-2(b) 

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

= 

Appraisal Report 

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

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, | 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, 

| have performed no services, as an appraiser of In any other capactty, regarding the property that is the sublect 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 sublect 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 atailnment of a stipulated resul, or the occurrence of a subsequent event directy 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, | have made a personal inspection of the property that is the sublect of this report. 

- Unless otherwisa 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 appralsal assistance Is stated elsewhere In this report). 

Reasonable Exposure Time 

(USPAP defines Exposure Time as the estimated length of time that the property Interest belng 

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: 

90 Days 

A reasonable exposure time for the subject property at the opinion of value indicated is estimated to be 90 days. This time frame was estimated from 

the median time on the market for sales in the subject's market area and the comparables used in this report to establish the value. 

Comments on Appralsal and Report Identification 

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

Robert T Grashom, 

Lic #1203071353, State License Appraiser, completed all the work on this report. 

All appraisers are required to be licensed/certified and are regulated by 

the Michigan Department of Licensing 

and Regulatory 

Affairs, 

P.O. Box 

30670, Lansing, MI 48909. 

This appraisal conforms to the uniform standards of professional appraisal practice (USPAP). 

The appraiser of this report, as indicated in the signature section, has not provided prior services for the subject property in the 36 months prior to the 

effective date of this report.

License 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

| 

BUREAU OF PROFESSIONAL LICENSING 

P.O. ROX 30870 

LANSING, WI 48309 

STATE OF RICHIGAN 

- JERMKTALHT OF LICENSING AMD RECULATORY AFFATAS 

BUREAU 

OF PROFESSIONAL LICENSING 

STATE LICENSED 

REAL ESTATE APPRAXSER LICENSE 

ROBERT THOHAS GRASHORN 

LICENSE No. 

EXPIRATION BATE 

1203071353 

07/34/2025 

23188100740 

ROBERT 

THOMAS GRASHORN 

Te seuAGe 

or aL NSE SHOULD NOT 

BE CORSTRUED 

ANCE 

ACE 

LD 

NOT 

Ed 

SAINT SovERAND AVENUE 

AS AWANER, DISMISSAL OR ACQUIESCENCE TO ANY 

b 

COMPLAINTS OR VIOLATIONS PENDING AGAINST THE 

LICENSEE, ITS AGENTS OR EMPLOYEES. 

FUTURE CONTACTS: 

YOU SHOULD DIRECT INQUIRIES REGARDING THiS LICENSE OR 

ADDRESS CHANGES YO THE DEPARTMENT OF LICENSING AND 

REGULATORY AFFAIRS BY EMAILING BPLHELP@MICHIGAN.GOV 

OR CALL (517) 241.0189 

GRETCHEN WHITER 

oven 

STATE 

OF MICHIGAN 

DEPARTHENT 

OF LICENSING 

AND REGULATORY AFFAIRS 

BUREAU 

OF PROFESSIONAL LICENSING 

STATE LICENSED REAL ESTATE APPRAISER LICENSE 

ROBERT THOMAS GRASHORN

2024 BOARD OF REVIEW DECISION 

FROM 

CITY OF ST. JOSEPH 

700 BROAD ST. 

ST. JOSEPH, MI 49085 

NAME AND ADDRESS OF OWNER OR PERSON NAMED ON ASSESSMENT ROLL: 

PROPERTY IDENTIFICATION: (Parcel Code required. Property address 

and legal description optional.): 

11-76-0026-0117-00-7 

2606 S STATE ST 

RECINELLA LISA & FOX SHAY 

2606 S STATE ST 

COM 33'W & 85'S OF NE COR UNIV LOT 91 SEC 26 T4S R19W 

SAINT JOSEPH MI 49085 

TH § 55' TH S82DEG36'W 116.05" TH S87DEG31'W 141.51 FT 

THN 162.53' THE 156' TH § 35' TH S34DEGS7'E 61.11' THE 

65'TO POB 

THIS PROPERTY IS CLASSIFIED 

401 

(RESIDENTIAL-IMPROVED) 

Thank you for attending the 2024 March Board of Review 

The Board has completed their review of parcel number 

11-76-0026-0117-00-7 

and has made the following determination based on the information you supplied. 

Board of Review Comments 

THE 2024 MBOR HAS CONSIDERED YOUR APPEAL AND DEEMED THE ASSESSEMENT TO BE ACCURATE - 

NO CHANGE 

AV= 322,300 

TV= 293,282 

[2024 ORIGINAL ASSESSED VALUE 

322,300 

| 

2024 "BOARD OF REVIEW" ASSESSED VALUE 

322,300 

| 

(If the above amounts are the same, no revisions have occured) 

2024 ORIGINAL TAXABLE VALUE 

293,282 

2024 "BOARD OF REVIEW" TAXABLE VALUE 

293,282 

2024 PRINCIPAL RESIDENCE EXEMPTION/QUALIFIED AG 

100.0000 

If you disagree with the decision of the Board of Review regarding tentative taxable value, further appeal may be made to the Michigan Tax 

Tribunal, P.O. Box 30232, Lansing, Mi. 48909 by May 31 for Commercial Real, Industrial Real, Developmental Real, Commercial Personal, 

Industrial Personal and Utility Personal Property and by July 31 for Agricultural Real, Residential Real, Timber - Cut Over Real, and 

Agricultural Personal Property. Effective March 1, 2013, the Tribunal is no longer able to accept Small Claims letter appeals. You are 

required to file a petition to initiate a new Small Claims appeal. Instructions and forms can be found at www.michigan.gov/taxtrib/

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