Mulherin.pdf

Kevin B Mulherin Petitioner V Township Of North Branch Respondent · 26-002288-TT

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GRETCHEN WHITMER 

GOVERNOR 

STATE OF MICHIGAN 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

LANSING 

VED 

APR 0 1 2076 

MICHIGAN TAX TRIBUNAL 

MARLON |. BROWN, DPA 

DIRECTOR 

PROPERTY TAX APPEAL PETITION FORM 

VALUATION / UNCAPPING 

Do not use this form to appeal Classification, Principal Residence Exemption, Qualified Agricultural Exemption, Other 

Exemptions, Special Assessments, or Non-Property tax disputes. 

Pursuant to Tax Tribunal Rule (TTR) 279, you MUST submit a copy of the notice giving rise to the appeal (i.e., Board of 

Review Decision or other notice) with this petition, if applicable. 

If you do not submit this document, you may be held in 

default. 

Section 1: Petitioner’s Contact Information 

First Name 

M.I. 

Last Name/Company Name 

Kevin 

B 

Mulherin 

Mailing Address (No., Street, P.O. Box or Rural Route) 

4840 Lake Pleasant Rd. 

City or Town 

State 

ZIP Code 

North Branch 

Mi 

45461 

Telephone Number 248-672-1 908 

Email Address (do not enter unless you want MTT to send all correspondence via email) 

Littlehalo2@hotmail.com 

Section 2: Petitioner’s Attorney/Authorized Representative’s Contact Information 

} 

First Name 

m.1. 

Last Name 

Firm Name (if any) 

Mailing Address (No., Street, P.O. Box or Rural Route) 

City or Town 

State 

ZIP Code 

Telephone Number 

Email Address (do not enter unless you want MTT to send all correspondence via email) 

Section 3: Subject Property Information *use the multiple parcel form for additional, contiguous parcels. 

How many parcels are you 

If you are appealing more than one parcel, are they contiguous or adjoining? 

appealing? 

Yes* 

[J No** 

**If No, you must file separate appeals for each parcel 

Property Address (No., Street) 

4840 lake pleasant rd 

State 

ZIP Code 

Michigan 

[48461 

City or Town 

North Branch 

en) apeer

STATE OF MICHIGAN 

GRETCHEN WHITMER 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

MARLON I. BROWN, DPA 

GOVERNOR 

TAREE 

DIRECTOR 

Section 4: Check which of the following you are appealing (check ali that apply) 

True Cash and Taxable Value 

Taxable Value Only (calculation) 

[] Uncapping of Taxable Value 

Section 5: Explain the Reason for this Appeal 

North Branch Township property tax appeal board was presented the following: 

Appraisal from a licensed appraiser (including photos). 

The appraisal valued the property art $389,000. 

| testified that 

| ultimately paid $382,000 for the property ($400,000 $18,000 in concessions) 

| testified that the reason for the concessions were: 

The Well water failed inspection. (5 times the allowable limit of Arsenic) 

The septic system Failed inspection, and also was never permitted or inspected as current law 

requires. The septic system will require TOTAL replacement, tank and field. 

After reviewing all of this information they decided to reduce the SEV a very modest $25,000. 

The current SEV is set at $225,000 and should be $195,000 or LESS. 

Thank you for your consideration. 

Section 6: Jurisdictional Issues 

Did you protest the assessment at a Board of Review (BOR)? 

Yes 

[H] No 

If Yes, check which BOR you attended: 

(M4 March 

[J July 

[J] December 

If No, please check the applicable reason(s): 

[] Not required to attend 

[| Appealing a purported Clerical Error or Mutual Mistake of Fact (if yes, include explanation in Section 5) 

Appealing within 35 days of State Tax Commission Order 

0 Appealing within 35 days of receipt of Notice of Uncapping 

Other 

If you checked “other” above, explain:

STATE OF MICHIGAN 

GRETCHEN WHITMER 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

MARLON I. BROWN, DPA 

GOVERNOR 

LANSING 

DIRECTOR 

Section 7: Valuation Information suse the multiple parcel form for additional, contiguous parcels. 

P: 

| 

Number: 

erect 016-027-012-01 

Classification of Property: 

Real 

J 

Personal [J (check one) 

Agricultural 4 

Commercial 0 

Industrial J 

Residential [J 

Timber-Cutover (] ~~ Developmental 

(J 

Utility (J (check one) 

Assessed Value (also known as State Equalized Value) established 

| Taxable Value established by the Board of Review: 

by the Board of Review: 

$225 000 

$225.000 

What do you believe is the fair market value (also known as true cash value)? 

PB 352. Qc 

What do you believe is the assessed value? (multiply true cash 

What do you believe is the taxable value? (cannot exceed 

value by .5) 

$191,000 

assessed value) $191,000 

Fee Information 

Does the property have a Principal Residence Exemption of at least 50% as of the date of the filing of this petition for all tax years at 

issue? 

WA Yes 

[J no 

If you answered yes to the above question, you are not required to pay any filing fees. 

If the property does not have a Principal Residence Exemption of at least 50% as of the date of the filing of this petition for all tax years at 

issue, the filing fee is based on the greater of the State Equalized Value or Taxable Value in dispute. 

If you are appealing more than one 

parcel, the parcel with the highest State Equalized Value or Taxable Value in dispute will be used to determine your filing fee, plus $25.00 

will be added for each additional parcel being appealed, not to exceed a total filing fee of $1,000.00 

If your property is residential property (see MCL 205.762) and 

the State Equalized Value or Taxable Value in contention is: 

Filing Fee is: 

$100,000.00 and under 

$125.00 

$100,000.01 to $500,000.00 

$200.00 

$Over $500,000.00 

$300.00 

If the property is 

NOT residential property (see MCL 205.762) and 

the State Equalized Value or Taxable Value in contention is: 

Filing Fee is: 

$100,000.00 and under 

$250.00 

* Plus $25.00 for each additional parcel, as indicated above. 

If the property is NOT residential property and the State Equalized Value or Taxable Value in dispute is $100,000.01 or greater the 

appeal does not qualify for Small Claims. Therefore, an Entire Tribunal petition must be filed. 

Signatu Ie *Required 

Petitioner or Attorney/Authorized Rep 

tative’s Signature: 

sw Rsine Weel Perm

NORTH BRANCH TOWNSHIP 

6771 

ELM 

STREET-PO 

BOX 

186 

NORTH 

BRANCH, 

MI 

48461 

March 17, 2026 

Kevin / April Mulherin 

4840 Lake Pleasant Rd 

North Branch, Mi 48461 

016-027-012-01 

RE: 

2026 March Board of Review 

Dear Taxpayer: 

Please be advised on March 10, 2065 the Board met to discuss your Petition to the Board of 

Review. Below is the decision made on the above parcel number and enclosed is the paperwork 

for your records. 

The above property was reviewed by the Board of Review and the decision was made to lower 

your assessment to 225,000 which will also lower your taxable value to 225,000. 

If you disagree with the Board of Reviews actions, please see the enclosed forms for further 

information and instructions on who to contact to appeal this decision. 

If you have any further questions, please feel free to contact our office at the number below. 

Sincerely, 

Amy Bridger-Snoblen, MCAO

v 

Michigan Department of Treasury 

#1 

03/09/2026 09:32 AM 

618 (Rev. 11-12) 

Petition to Board of Review 

L-4035 

This form is issued under the authority of P.A. 206 of 1893, as amended. Filing Is voluntary, however you may not appeal to the Michigan Tax Tribunal or 

the State Tax Commission unless you first protest to the Board of Review 

TO BE COMPLETED BY OWNER OR OWNER'S AGENT 

Owner's Name (Please Print or 1ype) 

Petitioner's Name (if Other than Owner. Please Print or Type) 

MULHERIN KEVIN / APRIL 

Township or City 

County 

NORTH BRANCH TWP 

LAPEER 

The undersigned protests the assessed value and/or the tentative taxable value andfor the property classification and/or the guatified agricultural property exemption of 

the following described property: 

Property Identified (Parcel code required. Property address & legal description optional) 

016-027-012-01 

COMMENCING AT THE WEST 1/4 CORNER OF SECTION 27, TON--R11E, NORTH BRANCH TWP, LAPEER 

COUNTY, MICHIGAN; THENCE NO2'09'53'W 910.31 FEET ALONG THE WEST LINE OF SAID SECTION 27 TC 

THE POINT OF BEGINNING: RUNNING THENCE NO2'09'53"W 410.31 FEET ALONG SAID WEST LINE OF 

4 

SECTION 27; THENCE N86'59'22°E 2617.36 FEET ALONG THE NORTH 1/8 LINE OF SAID SECTION 27; 

840 LK PLEASANT RD 

THENCE 50214'18°E 660.46 FEET ALONG THE NORTH-SOUTH 1/4 LINE OF SAID SECTION 27; THENCE 

$86'59'35"W 2269.89 FEET; THENCE NO2'09'63"W 250.00 FEET; THENCE S86+59'35'W 348.52 FEET TO THE 

POINT OF BEGII 

A 

+ 

TIN 

s 

BRANCH TOWNSHIP, LAPEER COUNTY, MICHIGAN AND CONTAINING 37.69 ACRES OF LAND. SUBJECT 

TO EASEMENTS AND RIGHTS OF WAY OF RECORD. 

Protested Item 

[2] Assessed Value 

[J Tentative Taxable Value 

[I Classification 

[O Qualifed Agricultural 

Property Exemption 

1. 

PROTEST OF ASSESSMENT 

(Complete this section for a protest of assessed value and/or tentative taxable value) 

Assessed Amount 

Owner's Estimated True Cash Value 

Tentative Taxable Value 

Year 

0,000 

250,000 

2026 

2. 

PROTEST OF CLASSIFICATION 

(Complete this section for a request to change the classification. The Board of Review must make their decision regarding classification in accordance 

with section 211.34c of the Michigan Compiled Laws. The Board of Review shall not be influenced by the effact that a particular classification has on 

that property's status as a homeowner's principal residence or qualified agricultural property.) 

Classification of property on this year's assessment rofl: 

101 

Classification should be: (Please check one of the following) 

O 

Agricultural 

[0 industrial 

[Timber Cutover 

CJ utility (Personal Property Oni 

0 commercial 

[J Residential 

CIbevelopmental 

3. 

PROTEST OF EXEMPTION FOR QUALIFIED AGRICULTURAL PROPERTY 

(if the assessor has denied or changed the percentage of the exemption from the 18 mills of focal school operating tax for qualified agricultural property, 

the owner may appeal this action to the March Board of Review. THE BOARD OF REVIEW HAS NO AUTHORITY TO CONSIDER OR ACT UPON THE 

EXEMPTION FROM THE 18 SCHOOL OPERATING MILLS FOR HOMEOWNER'S PRINCIPAL RESIDENCE PROPERTIES.) 

Percent qualified agricultural exemplion granted by assessor: (Enter 0 if exemption is denied) 

Percent qualified agricultural exemption requested by Owner: (Enter 100 if full 

exemption requested) 

4. 

REASON FOR PROTEST

Michigan Department of Treasury 

Form 618, Page 2 

FOR BOARD OF REVIEW USE ONLY 

INSTRUCTIONS: Incorporate a copy of this form and the assigned number in the Board of Review minutes. 

Petition Number 

Parcel Code 

016-027-012-01 

1. ASSESSED VALUE 

Disposition by Board of Review. The Board of Review must state the reason for its action below. 

Denied 

[0 

Assessed Value Changed From: 

250,000 

fro: 

[, 

275 oob 

J 

7 

Record of Vote ~ Board or three member committee of board 

Chai 

: 

L/ 

. 

ivi 

. 

’ 

hairperson: 

[¥ves 

0 no The 

Member: 

Yes 

[] no 

F=— 

Member 

[] ves 

[J] NO 

Reason for Board Action; 

Ifyou disagree with the decision of the Board of Review regarding tentative assessed value, you may appeal that decision by filing a petition with the Michigan Tax Tribunal at 

P.0.Box 30232, Lansing, Mi. 48909. Commercial Real, Industrial Real, Developmental Real, Commercial Personal, Industrial Personal and Utility Personal Property may be 

appealed by May 31. Agricultural Real, Residential Real, Timber - Cut Over Real, and Agricuftural Personal Property may be appealed by July 31. The pelition must be filed on 

a Michigan Tax Tribunal for or a form approved by the Michigan Tax Tribunal. Michigan Tax Tribunal forms are available at www.michigan.govitaxtrib, 

2. TENTATIVE TAXABLE VALUE 

Disposition by Board of Review. The Board of Review must state the reason for its action below. 

| 

Denied 

J 

Tentative Taxable Value Changed From: 

250,000 

_ 

To: 22 5, ood 

Record of Vote - Board or three member commities of board. 

; 

Chairperson: [7 

ves 

[| 

No 21d 

Member: 

of YES 

[7] 

NO 

“mmm 

Member: 

[] ves 

[7] NO ~TFifzi| 

Reason for Board Action: 

If you disagree with the decision of the Board of Review regarding tentative taxable value, you may appeal that decision by filing a petition with the Michigan Tax Tribunal at 

P.0.Box 30232, Lansing, Mi. 48909. Commercial Real, Industrial Real, Developmental Real, Commercial Personal, Industrial Personal and Utility Personal Property may be 

appealed by May 31, Agricultural Real, Residential Real, Timber - Cut Over Real, and Agricultural Personal Property may be appealed by July 31, The petition must be filed 

on a Michigan Tax Tribunal for or a form approved by the Michigan Tax Tribunal. Michigan Tax Tribunal forms are available at www.michigan.govitaxtrib, 

3. CLASSIFICATION 

Disposition by Board of Review. The Board of Review must state the reason for its action below. 

[J 

Denied 

[[] 

Classification Changed From: 

101 

To: 

Record of Vote - Board or three member committee of board, 

Chairperson: 

[J ves 

[1 Nome 

Member: 

[1 ves 

[J nomi 

Member: 

yes 

[1 noFmes 

Reason for Board Action: 

tf you disagree with the decision of the Board of Review regerding classification, appeal is made by sending Form 2167 to the State Tax Commission, P.O. Box 30471, Lansing, Mi. 48908 by June 30, 

4. QUALIFIED AGRICULTURAL PROPERTY EXEMPTION 

Disposition by Board of Review. The Board of Review must state the reason for its action below. 

(| 

Exemption Request Denied 

0 

Exemption percent modified from 

% To: 

% 

Record of Vote - Board or three member committee of board.

Docusign Envelope 1D: 363B56C89-19E7-42F7-8903-E9985E929630D 

BIRMINGHAM 

2 

REALTY, LLC. 

Seller’s Disclosure Statement 

Property Address: 4840 Lake Pleasant Rcad 

North Branch Twp 

MICHIGAN 

Purpose of Statement: 

1! 

the Seller or by 

Geliers Disclosure: The Seller discloses the folowing infuratation with the knowledge that even though this is nel a warranty. the 

al the signing of this devument. Upon receiving this statement trom the Seller. the Seller's Agent is required 

Agentis) to provide a copy of this staiement to any prospective Buyer in connection 

solely by the Seller and are not the representations of th 

A PART OF ANY CONTRACT BETWEE 

following representations based on the Seller's knowledge 

to provide a copy 1 the Buyer or the Agent of the Buyer. The Seller authorizes its 

with any actual or anticipated sate of property. The following are repre 

any. THIS INFORMA TION 

IS A DISCLOSURE ONLY AND IS NOT INTENDED TO BE 

SELLER. 

Iustructions fo the Seiler, 

1) Answer ALL questions. (21 Report known conditions affecting the property. (3) A 

ach additional pages with vour signature if additional 

S| 

“omplete this form yourself. $3) 

If some items do not apply lo your property. 

cf 

¥ TO PROVIDE A PURCHASER WITH A SIGNED DISCLOSURE ST 

SREEMENT. 

is required. {41 

(OWN. FAILU 

OTHERWIS 

I BINDING PURCHAS 

Street 

3» Agent representing the Seller iu this transaction, and is not 

City, Village or Township 

is statement is a disclosure of the condition of the property in compliance with the Seller Disclosure Act. This statement is a disclosure of the 

condition and information concerning the property, known by the Seller. Unless otherwise advised. the Settler does not pos: 

architecture, engineering or any other specific area rel 

advised, the Seller has not conducted any inspection of 

any expertise in construction, 

ated fo the constriction or condition of the improvements on the property or the land. Also. unless otherwise 

perally inaccessible arcas such as the foundation or root. This statement is not a warranty of any kind by 

a substitution for any inspections or warrantics the Buyer may wish to obtain. 

Seller specifically makes the 

fler's Agents). if’ 

BUYER AND 

ou do not know the facts. 

check 

PURCHASER TO TERMINATE AN 

Appliances/Systems: Services: The fiems below are in working order. (The items sted below are included in the sale of the property only if the purchase agreement so 

provides.) 

Hood Tan 

Ea 

Disposal 

4 

No 

Unknown 

Not 

Available 

enna. TV rotor controls 

i Jectric 

system 

Garage door oper & remote - £ 

) 

Alarm System 

Intercom 

Central vacuum 

Attic fan 

x 

Pool heater, wall liner 

& equipment 

Microwave 

‘Trash contactor 

Ceiling fan 

Sauna‘hot tub 

Was 

—— 

Explanations {attach additional sheets if necessary: 

Yes 

Lawn sprinkler system 

Water heater 

Tr 

Not 

Available 

~ 

No 

Unknown 

Plumbing 

system 

i 

Water sofienerconditioner 

Well & pump 

Septic tank & deainfietd 

Sumy pump 

k3 

City water system 

City sewer system 

Cemral air conditioning 

. 

Central heating system 

x 

Wall furnace 

Electronic 

air filter 

Solar heating systent 

Fireplace & chimney 

Wouad burning system 

Dryer 

pa 

UNLESS OTHERWISE AGREED. ALL TIOUSEHOLD APPLIANCES ARE SOLD IN WORKING ORDER EXCE

DociiSign Envelope 1D: 36385C89-19E7-42F 7-9903-E£9995E92963D 

Property AddressA840 Lake Pleasant Road suzetNorth Branch Twp 

Civ, Village or 

1 

5. Septic tanksidrain fields: Condition, if known:__ 

6. Heating system: Typefapproximate age: 

7, Plumbing system: Type: 

copper 

galvar 

Any known problems? 

CN ie 

8. Electrical sysient: Any known problems? 

{Ue v4 [4 

9. History of Infestation, if any: {ternHtes. 

carpenter ants. © 

hone 

. 

10. Environmental problems: 

Are you aware of any sub: 

5. materials or products that may be an ehvironmenta hazard such as, but not limited 10, asbestos. radon 

as. formaldehyde. lead-based paint. fuel or chentical sterage tanks and contaminated soif on propery. 

OT Bat 

res 

-_UA 

EE 

other _ XN. 

Unknown 

yes, 

_ 

vo__2 

If yes, please explain: 

11. Flood Insurance: Do you have flood insurance on the property”? 

unknown___ 

yes___ 

ne, 

12. Mineral Rights: Do yon own the mineral rights? 

unknown___ 

¥OS, 

no 

_ 

Other Hems: Are you aware of any of the following: 

I. 

Features of property shaced in comman with the adj 

ining landowners. such as walls, fences. roads and driveways. or other features whose use or responsibility 

for maintenance may have an effect on the prapert 

wnknown_ 

na, 

_ 

2. 

Any encroachments. 

, zoning violations or nonconfornting uses? 

unknown 

oo 

oo 

no, 

X_ 

3 

Any “common areas” 

(facilities like pouls. tennis counts. walkways. or other areas co-owned with others) of a homeowners’ association that has any authority over 

the propeny? 

ankoown 

ves, 

n_ xX 

4. 

Structural modifications. alerations. or repairs made without necessary permits or licensed sonwastors? 

unknown___ 

5. 

Seuling. flooding. drainage. structural, or grading problems? 

uknown__ 

6. 

Major damage to the property from fire, wind. floods. or landslides? 

unknown ___ 

7. 

Any underground storage tanks? 

unknown___ 

3. 

Farm or farm operation in the vicinity: or proximity to a landfill. airport. shooting range. ete.” 

uRKnown_ 

9. 

Any outstanding utility assessments or fees. including any natural gas main extension surcharge? 

ankiown 

16. 

Any oustanding municipal assessments or fees? 

nnknows 

~ 

1h. 

Any pending Htigation that could affect the propeit: or the Seller's right to convey the property? 

unknown 

If the answer to any of these questions is yes. please explain. Attach additional sheets, if necessary! 

The Seller has 

ved in tie residence on the property trom 

SE0C 

{daterto__ 

Tren edt 

{date}. 

The Seller has owned the property since 

. 

_ 

) 

. 

_ 

dae}. 

The Seller 

has indicated above the conditions of all the items based on information known to the Selfer. If any changes occur in the structuralimechanical/appliance 

systems of this property from the date of this form 10 the date of closing, Setler will immediately disclose the changes to Buyer. In no event shal) the parties hold the 

Broker Hable for any representations ot directly made by the Broker or Broker's Agent. 

Seller certifies that the information in this statement is trae and correct to the best of Seller's knowledge as of the date of Seller's signature. 

BUYER SHOU 

BTAIN PROFESSIONAL ADVICE AND INSPECTION. 

] 

SPECTIONS SHOULD TARE INDOOR AIR AND 

8 OF POTENTIAL ALLERGENS INCLUDING. 

OF 

THE PROPERTY TO MOR 

SILLY DETERMINE THE CONDITION OF THE 

QUALITY INTO ACC 

AS WELL AS ANY EVIDENCE 

OF 

BUT NOT LIMITED TO. HOUSEHOLD MOLD, MILDEW AND BACTERIA. 

14 Ly 1NGH LE 

ISTRATION ACT, 1994 PA 205, MCL. 

HE APPROPRIATE LOCAL LAW 

SED THAT CERTAIN INFORMATL 

A 

TO TH 

Y OR SHERIFF'S DEPARTN 

{ COMPILED PURSUANT 

TO THE 

KING 

SUCH INFORMATION SHOULD CONTA 

DIRECTLY. 

BUYER 1S ADVISED THAT THE STATE FQUALIZED VALUE OF THE PROPERTY. PRINCIPAL RESIDENCE EXEMPTION INFORMATION. AND 

OTHER REAL PROPERTY TAX INFORMAT 

AVAILABLE 

FROM 

THE 

APPROPRIATE 

LOCAL ASSESSOR'S OFFICE. BUYER SHOULD NOT 

ASSUME THAT BUYER'S FUTURE TAX BILLS ON THE PROPERTY WILL BE THE SAME AS THE SELLER'S PRESENT 

TAX BILLS. 

MICHIGAN LAW. REAL PROBERTY TAX OBLIGATIONS CAN CHANGE SIGNIFICANTLY WHEN PROPERTY 1 TRANSFERRED. 

Selter 

Ne 

ae vo Tal r= 

_ 

on 

Date: 

=) 

= 

)- ded 

saer( { Cue Lo. Brege 1% 

poe bm 

x 

Buyer has read and acknowledges receipt of this statement.

w 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

BUREAU OF PROFESSIONAL LICENSING 

P.O. BOX 30670 

LANSING, MI 48909 

STATE 

OF MICHIGAN 

- DEPARTHENT 

OF LICENSING AND REGULATORY AFFAIRS 

BUREAU 

OF PROFESSIONAL LICENSING 

CERTIFIED RESIDENTIAL 

REAL ESTATE APPRAISER 

LICENSE 

ANDREA 

ELAM 

WHITE 

LICENSE MO. 

EXPIRATION DATE 

ANDREA 

ELAM 

WHITE 

183k 

COLONIAL 

VILLAGE 

WAY 

CC 

. I 

APT 

#y 

WATERFORD. 

MI 

486328 

COMPLAINT INFORMATION: 

THE ISSUANCE OF THIS LICENSE SHOULD NOT BE CONSTRUED 

AS A WAIVER, DISMISSAL OR ACQUIESCENCE TO ANY 

COMPLAINTS OR VIOLATIONS PENDING AGAINST THE 

LICENSEE, ITS AGENTS OR EMPLOYEES. 

FUTURE CONTACTS: 

YOU SHOULD DIRECT INQUIRIES REGARDING THIS LICENSE OR 

ADDRESS CHANGES TO THE DEPARTMENT OF LICENSING AND 

REGULATORY AFFAIRS BY EMAILING BPLHELP@MICHIGAN.GOV 

OR CALL (517) 241-0199 

GRETCHEN URITHER 

GoveRon 

STATE OF ‘MICHIGAN 

DEPARTMENT-“0F LICENSING. AND REGULATORY AFFAIRS 

BUREAU OF PROFESSIONAL LICENSING 

CERTIFIED RESIDENTIAL 

REAL 

ESTATE: 

APPRAISER. LICENSE 

ANDREA 

ELAM 

WHITE

appraiser Lic 2026 

DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS 

BUREAU OF PROFESSIONAL LICENSING 

P.O. BOX 30670 

LANSING, MI 48809 

STATE OF NICHIGAN 

- DLPARTHENT OF LICENSING ANP REGULATORY AFFAIRS 

BUREAU 

OF PROFESSIONAL LICENSING 

CERTIFIED RESIDENTIAL REAL ESTATE APPRAISER 

LICENSE 

ANDREA 

ELAM WHITE 

EXPIRATION DATE 

07/3%/23026 

ANDREA 

ELAM 

WHITE 

1836 COLONIAL 

VILLAGE 

WAY 

APT #Y 

WATERFORD. 

MI 

44328 

COMPLAINT INFORMATION: 

THE ISSUANGE OF THIS LICENSE SHOULD NOT BE CONSTRUED 

AS AWAIVER, DISMISSAL OR ACQUIESCENCE TO ANY 

COMPLAINTS OR VIOLATIONS PENDING AGAINST THE 

LICENSEE, ITS AGENTS OR EMPLOYEES. 

FUTURE CONTACTS: 

YOU SHOULD DIRECT INQUIRIES REGARDING THIS LICENSE OR 

ADDRESS CHANGES TO THE DEPARTMENT OF LICENSING AND 

REGULATORY AFFAIRS BY EMAILING BPLHELP@MICHIGAN.GOV 

OR CALL (517) 241-0199 

GRETCHEN WHITHER 

GOVERNOR 

STATE 

OF MICHIGAN 

DEPARTHENT 

OF LICENSING 

AND REGULATORY AFFAIRS 

BUREAU 

OF PROFESSIONAL LICENSING 

CERTIFIED 

RESIDENTIAL 

REAL ESTATE APPRAISER LICENSE

Professional Appraisal Group 

RESTRICTED APPRAISAL REPORT 

Filho: 48401 AW0326 

Property Address: 

4840 Lake Pleasant Rd 

City. North Branch 

State: MI 

Zip Code: 48461 

- 

County: 

Lapeer 

Legal Description. 

See Addendum 

br 

Assessor's Parcel #: 

 016-027-012-01 

a 

Tax Year: 2024/25 

R.E. Taxes: § 4,455 

Special Assessments: $ 0 

Borrower (if applicable): 

Kevin Mulherin 

2 

Current Owner of Record: 

Kevin & April Mulherin 

Occupant 

DK) Owner 

[|] Tenant 

| | Vacant 

|| | Manufactured Housing 

Property Type: 

DC SFR 

[] 24Famly 

[1] 

# of Units: 

4 

Ownership Restriction: 

DK None 

[1] PUD 

[] Condo 

[] Coop 

|| Market Area Name: 

North Branch Township 

Map Reference: 

47664 

Census Tract: 

3325.00 

[ [7 Flood Hazard 

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

|_| Market Value (as defined), or 

DX other type of value (describe) 

Fair Market Value 

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

{J Current {the Inspection Date is the Effective Date) 

DX Retrospective 

[] Prospective 

= Approaches developed for this appraisal: 

DX Sales Comparison Approach 

[T] Cost Approach 

[7] Income Approach 

[1] Other: 

= 

Praperty Rights Appraised: 

DX Fee Simple 

|] Leasehold 

[| Leased Fee 

[| Other (describe) 

| Intended Use: 

Property tax assessment appeal 

| Under USPAP 

Standards 

Rule 

2-2(b), 

this 

is 

a 

Restricted 

Appraisal 

Report, 

and 

is 

intended 

only 

for 

the 

use 

of 

the 

client 

and 

any 

other named 

intended 

user(s). 

4 

Users 

of 

this 

report 

must 

clearly 

understand 

that 

the 

report may 

not confain 

supporting 

rationale 

for 

all 

of 

the 

opinions 

and 

conclusions 

set 

forth 

in 

the 

report. 

Client: 

Kevin Mulherin 

Address: 

4840 Lake Pleasant Rd, North Branch, MI 48461 

Appraiser. 

Andrea White 

Address: 

1836 Colonial Village Way, #4, Waterford, MI 48328 

FEATURE 

| 

SUBJECT 

COMPARABLE SALE # 1 

COMPARABLE SALE # 2 

COMPARABLE SALE # 3 

Address 

4840 Lake Pleasant Rd 

5589 Clear Lake Rd 

5343 Clear Lake Rd 

2720 Oak Grove Rd 

North Branch, 

MI 48461 

North Branch Twp, Mi 48461 

North Branch Twp, M1 48461 

Deerfield Twp, Mi 48461 

Proximity to Subject 

2.86 miles SE 

2.32 miles SE 

3.21 miles W 

| 

Sale Price 

$ 

$ 

385,000 

$ 

249,000] 

$ 

375,000 

| 

Sale Price/GLA 

$ 

255.04 /safl|$ 

458.33 fsqft. 

5 

usm] 

_ 

$ 

244.78 /soft| 

Data Source(s) 

RMLS#20240068652,D0M 36 

[RMLS#20250031596:D0M 100 

|RMLS#20240029149;D0M 5 

| Verification Source(s) 

Doc#3485-231/Drive-by/LCR 

Doc#3479-296/Drive-by/LCR 

Doc#3405-468/Drive-by/L 

CR 

VALUE ADJUSTMENTS 

DESCRIPTION 

DESCRIPTION 

+(-) $ Adjust. 

DESCRIPTION 

+(-) $ Adjust. 

DESCRIPTION 

+{-) $ Adjust. 

_ | Sales or financing 

ArmLth 

ArmLth 

ArmLth 

Cancessions 

Cash;0 

Conv;0 

Cash;0 

Date of Sale/Time 

$10/24;c10/24 

509/25,c08/25 

$05/24,c05/24 

Rights Appraised 

Fee Simple 

Fee Simple 

Fee Simple 

Fee Simple 

Location 

N:Res; 

N;Res; 

N;Res; 

N;Res; 

Site 

~ 

37.69 ac 

38.00 ac 

0j1.00 ac 

+108,000|20.17 ac 

+21,000 

| 

View 

N;Res 

N;Res; 

N;:Res; 

N;Res; 

Design (Style) 

DT1;Ranch 

DT1;Ranch 

DT1;Ranch 

DT1.5:Contempt 

0 

Quality of Construction 

Q4 

Q4 

Q4 

Q4 

_ 

Age 

61 

68 

0[57 

i} 

0]45 

Condition 

C4 

C4 

C4 

C4 

Above Grade 

Total | Bdrms | 

Baths 

| Total | Bdrms| 

Baths 

Total | Bdms| 

Baths 

Total | Bdres| 

Baths 

_ | Room Gount 

51 

3 

1.1 

5] 

3 

1.0 

+3,0000 

6 

| 

3 

1.0 

+3,000i 

5 

| 

3 

| 

20 

-3,000 

Gross Living Area 

1,646 soft. 

840 sft. 

+16,100 

1,680 sak. 

1,532 sgt 

+2,300 

| 

Basement & Finished 

1680sf0fin 

840sf0fin 

+6,000|0sf 

+25,000{1052sf0fin 

+6,000 

| -r- | Rooms Below Grade 

2 Functional Utility 

Average 

Average 

Average 

Average 

| Heating/Cooling 

FWA/CAC 

FWA/CAC 

FWA/CAC 

FWA/CAC 

& Energy Efficient tems 

None 

None 

None 

None 

=| Garage/Carport 

2ga2dw 

1gaidw 

+6,000]2gd2dw 

2ga2dw5gd 

-12,000 

S| PorciyPatio/Deck 

Deck 

Deck 

Deck 

Patio 

2 | Amenities 

Pole Barn 

2-PleBrn/Shed 

-25,000|Pole Bam 

Pole Bam 

= {School District 

North Branch 

North Branch 

North Branch 

North Branch 

= 

8

RESTRICTED APPRAISAL REPORT 

File No: _4840LAW0326 

Myresearch 

DC did 

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

3 | Data Source(s): 

Realcomp & Lapeer County records 

. 

I=} 

1st Prior Subject Sale/Transfer 

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

The subject had a War/Deed for 

I Date 

03/01/2024 

$399,900 with $17,900 in sellers concessions so a net sales price was $382,000 No other sales or 

z 

Price: 

$399,900 

listings found on the subject. See attached listing history. 

1 Source(s): RMLS & LCPR 

2 

2nd Prior Subject Sale/Transfer 

= Date: 

=| 

Price: 

Source(s): 

Subject Market Area and Marketabiltty: 

Im x 

Ei 

E 

Site Area: 

37.69 ac 

Site View: 

N;Res 

Topography: 

Level at grade 

Drainage: 

Appears adequate 

Zoning Classification: 

~~ AR 

Description: 

Agricultural Residential 

Zoning Compliance: 

~~ DC Legal 

| 

| Legal nonconforming (grandfathered) 

legal 

| 

| No zoning 

Highest & Best Use: 

~~ XX Present use, or 

| Other use (explain) 

| Actual Use as of Effective Dale: 

Residential Single Family 

Use as appraised in is report: 

Residential Single Family 

= Opinion of Highest & Best Use: 

Highest and best use is the current use. 

FEMA Spec'l Flood Hazard Area 

| 

| Yes 

3K No 

FEMA Flood Zone 

X. 

FEMA Map # 26087C0175E 

FEMA Map Date 

09/19/2007 

Site Commenls: 

The subject is located North of Kings Mill Rd, South of E Burnside Rd, East of Fish Lake Rd and West of 53 

| Improvements Comments: 

Typical C4 condition with some deferred maintenance noted on the out buildings. No major updates in the prior 

2) 15-20 years. 

wy 

= 

2 

[] 

& 

= 

Indicated Value by: Sales Comparison Approach$ 

389,000 

Indicated Value by: Cost Approach (if developed) $ 

Indicated Value by: Income Approach (if developed) $ 

Final Reconcifizion 

See attached addenda. 

z 

o 

5 

S This appraisal 

is made XC “"asis", 

| 

| 

subject 

to completion 

per plans 

and 

specifications 

on 

lhe 

basis 

of 

a Hypothetical 

Condition 

that 

the improvements 

have 

been 

© | completed, 

subject 

to 

the following 

repairs 

or alterations 

on 

the basis 

of 

a Hypothetical Condition 

that 

the repairs 

or alterations 

have been compleled, 

| 

| subject 

to 

o 

the following required inspection based 

on 

the 

Extraordinary Assumption that the condition 

or deficiency 

does 

not require alteration 

or 

repair. 

Non real estate items 

%| 

are not included in appraised value, source information deemed reliable, not guaranteed. 

XX This 

report 

is 

also 

subject 

to 

other 

Hypothetical Conditions and/or 

Extraordinary Assumptions 

as 

specified 

in 

the 

attached addenda. 

Based 

on the degree 

of inspection 

of the subject property, 

as indicated below, defined Scope 

of Work, Statement 

of Assumptions and 

Limiting Conditions, 

and Appraiser's Certifications, my (our) Opinion of the Market Value (or other specified value type), as defined herein, of the 

real property that 

is the subject 

of 

this 

report 

is: 

§ 

389,000 

,asof: 

12/31/2025 

, which 

is the 

effective date 

of this appraisal. 

If indicated above, this Opinion of Value 

is subject to Hypothetical Conditions and/or Extraordinary Assumptions included 

in this report. 

See attached addenda. 

A 

A 

tug 

and 

complete 

copy 

of 

this 

report contains 

21 

pages, 

including 

exhibits which 

are considered 

an 

integral 

part 

of 

the report. This 

appraisal 

report may 

not 

be 

zl properly understood 

without 

reference 

to 

the 

information 

contained 

in 

the complete 

report. 

= | Attached Exhibits: 

5 

X' Scope of Work 

x Limiting Cond /Certifications 

| 

| Narrative Addendum 

X Photograph Addenda 

X sketch Addendum 

I= 

X Map Addenda 

| Additional Sales 

|" 

| Cost Addendum 

| 

Flood Addendum 

| 

| Manuf. House Addendum 

| 

| | Hypothetical Conditions. 

| Extraordinary Assumptions 

| 

| 

|| 

Client Contact: 

~~ Kevin Mulherin 

Client Name: 

Kevin Mulherin 

E-Mail:_littlehalo2@hotmail.com 

Address: 

4840 Lake Pleasant Rd, North Branch, 

MI 48461 

RRQ 

oi clamode.comiverify 

Serial B1408D5E | 

SUPERVISORY APPRAISER (if required) 

or CO-APPRAISER (if applicable)

Assumptions & Limiting Conditions 

FilsNo:_4840LAW0326 

Property Address: 

4840 Lake PleasantRd 

City: North Branch 

State: MI 

Zip Code: 48461 

Client: 

Kevin Mulherin 

Address: 

4840 Lake Pleasant Rd, North Branch, MI 48461 

Appraiser. 

Andrea White 

Address: 

1836 Colonial Village Way, #4, Waterford, MI 48328 

STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS 

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

to it. The appraiser assumes that the title is 

good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis 

of it being under responsible ownership. 

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

is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination of its size. Unless otherwise indicated, a Land 

Survey was not performed. 

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

data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, 

he or she makes no guarantees, express or implied, regarding this determination. 

~The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been 

made beforehand. 

~ Ifthe cost approach is included in this appraisal, the appraiser has estimated the value of the land in the cost approach at its highest and best 

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

with any other appraisal and are invalid if they are so used. Unless otherwise specifically indicated, the cost approach value is not an insurance 

value, and should not be used as such. 

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

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

normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any 

hidden or unapparent conditions of the property, or adverse environmental conditions (including, but not limited to, the presence of hazardous 

wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and 

makes no guarantees or warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any 

such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the 

appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an environmental assessment of 

the property. 

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

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

that were furnished by other parties. 

- The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice, and any applicable 

federal, state or local laws. 

~ 

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

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

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

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

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

assignment. 

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

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

- An appraisal of real property is not a ‘home inspection’ and should not be construed as such. As part of the valuation process, the appraiser performs a non-invasive 

visual inventory that is not intended to reveal defects or detrimental conditions that are not readily apparent. The presence of such conditions or defects could adversely 

affect the appraiser's opinion of value. Clients with concerns about such potential negative factors are encouraged to engage the appropriate type of expert to investigate.

Definitions & Scope of Work 

FiloNo_4840LAW0326 

Property Address: 

4840 Lake Pleasant Rd 

City: North Branch 

oo 

State: MI 

Zip Code: 48461 

Client: 

Kevin Mulherin 

Address: 

4840 Lake Pleasant Rd, North Branch, M1 48461 

Appraiser. 

Andrea White 

Address: 

1836 Colonial Village Way, #4, Waterford, MI 48328 

DEFINITION OF True Cash value is attached. 

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. 

Under USPAP Standards Rule 2-2(b), this is a Restricted Appraisal Report, and is intended only for the use of the client and any other named intended user(s). 

The users of this report must clearly understand that the report may not contain supporting rationale for all of the opinions and conclusions set forth in the 

report. 

In developing this appraisal, the appraiser has incorporated only the Sales Comparison Approach. The appraiser has excluded the Cost and Income 

Approaches to Value, due to being inapplicable given the limited scope of the appraisal. The appraiser has determined that this appraisal process is not so 

limited that the results of the assignment are no longer credible, and the client agrees that the limited scope of analysis is appropriate given the intended use. 

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

Certifications 

FilsNo:_4840LAW0326 

Property Address: 

4840 Lake Pleasant Rd 

City: North Branch 

State: MI 

7ip Code: 48461 

Client: 

Kevin Mulherin 

Address: 

4840 Lake Pleasant Rd, North Branch, 

MI 48461 

Appraiser: 

Andrea White 

Address: 

1836 Colonial Village Way, #4, Waterford, MI 48328 

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. 

- Ihave 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. 

~- 

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

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

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

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

directly related to the intended use of this appraisal. 

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

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

- 1did 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: 

Client Contact: 

~~ Kevin Mulherin 

Client Name: 

Kevin Mulherin 

~ 

E-Mail:_littlehalo2@hotmail.com 

Address: 

4840 Lake Pleasant Rd, North Branch, MI 48461 

JIN @ esign.alamode.com/verify 

 Serial:B1408D5 

SUPERVISORY APPRAISER 

(if required) 

or CO-APPRAISER (if applicable)

file No. 

4840LAW0326 

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM 

(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements) 

Condition Ratings and Definitions 

ci 

The improvements have been recently constructed and have not been previously occupied. The entire structure and all components are new 

and the dwelling features no physical depreciation. 

Note: Newly constructed improvements that feature recycled or previously used materials and/or components can be considered new dwellings 

provided that the dwelling is placed on a 100 percent new foundation and the recycled materials and the recycled components have been 

rehabilitated/remanufactured into like-new condition. Improvements that have not been previously occupied are not considered “new” if they 

have any significant physical depreciation (that is, newly constructed dwellings that have been vacant for an extended period of time without 

adequate maintenance or upkeep). 

c2 

The improvements feature no deferred maintenance, little or no physical depreciation, and require no repairs. Virtually all building components 

are new or have been recently repaired, refinished, or rehabilitated. All outdated components and finishes have been updated and/or replaced 

with components that meet current standards. Dwellings in this category are either almost new or have been recently completely renovated and 

are similar in condition to new construction. 

Note: The improvements represent a relatively new property that is well maintained with no deferred maintenance and little or no physical 

depreciation, or an older property that has been recently completely renovated. 

C3 

The improvements are well maintained and feature limited physical depreciation due to normal wear and tear. Some components, but not every 

‘major building component, may be updated or recently rehabilitated. The structure has been well maintained. 

Note: The improvement is in its first-cycle of replacing short-lived building components (appliances, floor coverings, HVAC, etc.) and is 

being well maintained. Its estimated effective age is less than its actual age. It also may reflect a property in which the majority of 

short-lived building components have been replaced but not to the level of a complete renovation. 

c4 

The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been 

adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building 

components have been adequately maintained and are functionally adequate. 

Note: The estimated effective age may be close to or equal to its actual age. It reflects a property in which some of the short-lived building 

components have been replaced, and some short-lived building components are at or near the end of their physical life expectancy; however, 

they still function adequately. Most minor repairs have been addressed on an ongoing basis resulting in an adequately maintained property. 

C5 

The improvements feature obvious deferred maintenance and are in need of some significant repairs. Some building components need repairs, 

rehabilitation, or updating. The functional utility and overall livability is somewhat diminished due to condition, but the dwelling remains 

useable and functional as a residence. 

Note: Some significant repairs are needed to the improvements due to the lack of adequate maintenance. It reflects a property in which many 

of its short-lived building components are at the end of or have exceeded their physical life expectancy but remain functional. 

[¢) 

The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety, 

soundness, or structural integrity of the improvements. The improvements are in need of substantial repairs and rehabilitation, including many 

or most major components. 

Note: Substantial repairs are needed to the improvements due to the lack of adequate maintenance or property damage. It reflects a property 

with conditions severe enough to affect the safety, soundness, or structural integrity of the improvements. 

Quality Ratings and Definitions

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM 

(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements) 

Quality Ratings and Definitions (continued) 

a3 

Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above-standard 

residential tract developments or on an individual property owner's site. The design includes significant exterior ornamentation and interiors 

that are well finished. The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have been 

upgraded from “stock” standards. 

4 

Dwellings with this quality rating meet or exceed the requirements of applicable building codes. Standard or modified standard building plans 

are utilized and the design includes adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship, 

finish, and equipment are of stock or builder grade and may feature some upgrades. 

[05] 

Dwellings with this quality raling feature economy of construction and basic functionality as main considerations. Such dwellings feature a 

plain design using readily available or basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentation 

and limited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive, stock materials 

with limited refinements and upgrades. 

Q6 

Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellings 

are often built with simple plans or without plans, often utilizing the lowest quality building materials. Such dwellings are often built or 

expanded by persons who are professionally unskilled or possess only minimal construction skills. Electrical, plumbing, and other mechanical 

systems and equipment may be minimal or non-existent. Older dwellings may feature ane or more substandard or non-conforming additions 

to the original structure 

Definitions of Not Updated, Updated, and Remodeled 

Not Updated 

Little or no updating or modernization. This description includes, but is not limited to, new homes. 

Residential properties of fifteen years of age or less often reflect an original condition with no updating, if no major 

components have been replaced or updated. Those over fifteen years of age are also considered not updated if the 

appliances, fixtures, and finishes are predominantly dated. An area that is ‘Not Updated’ may still be well maintained 

and fully functional, and this rating does not necessarily imply deferred maintenance or physical/functional deterioration. 

Updated 

The area of the home has been modified to meet current market expectations. These modifications 

are limited in terms of both scope and cost. 

An updated area of the home should have an improved look and feel, or functional utility. Changes that constitute 

updates include refurbishment and/or replacing components to meet existing market expectations. Updates do not 

include significant alterations to the existing structure. 

Remodeled 

Significant finish and/or structural changes have been made that increase utility and appeal through 

complete replacement and/or expansion. 

A remodeled area reflects fundamental changes that include multiple alterations. These alterations may include 

some or all of the following: replacement of 

a major component (cabinet(s), bathtub, or bathroom tile), relocation 

of plumbing/gas fixtures/appliances, significant structural alterations (relocating walls, and/or the addition of) 

square footage). This would include a complete gutting and rebuild. 

Explanation of Bathroom Count 

Three-quarter baths are counted as a full bath in all cases. Quarter baths (baths that feature only a toilet) are not

UNIFORM APPRAISAL DATASET (UAD) DEFINITIONS ADDENDUM 

(Source: Fannie Mae UAD Appendix D: UAD Field-Specific Standardization Requirements) 

Abbreviations Used in Data Standardization Text 

Abbreviation 

Full Name 

Fields Where This Abbreviation May Appear 

A 

Adverse 

Location & View 

ac 

Acres 

Area, Site 

AdjPrk 

Adjacent 

to Park 

Location 

AdjPwr 

Adjacent to Power Lines 

Location 

ArmLth 

Arms Length Sale 

Sale or Financing Concessions 

AT 

Attached Structure 

Design (Style) 

[:] 

Beneficial 

Location & View 

ba 

Bathroom(s) 

Basement & Finished Rooms Below Grade 

br 

Bedroom 

Basement & Finished Rooms Below Grade 

BsyRd 

Busy Road 

Location 

c 

Contracted Date 

Date of Sale/Time 

Cash 

Cash 

Sale or Financing Concessions 

Comm 

Commercial Influence 

Location 

Conv 

Conventional 

Sale or Financing Concessions 

cp 

Carport 

Garage/Carport 

CriOrd 

Court Ordered Sale 

Sale or Financing Concessions 

CtySky 

City View Skyline View 

View 

CtyStr 

City Street View 

View 

cv. 

Covered 

Garage/Carport 

DOM 

Days On Market 

Data Sources 

DT. 

Detached Structure 

Design (Style) 

dw 

Driveway 

Garage/Carport 

e 

Expiration Date 

Date of Sale/Time 

Estate 

Estate Sale 

Sale or Financing Concessions 

FHA 

Federal Housing Authority 

Sale or Financing Concessions 

q 

Garage 

Garage/Carport 

ga 

Attached Garage 

Garage/Carport 

gbi 

Built-in Garage 

Garage/Carport 

gd 

Detached Garage 

Garage/Carport 

GlfCse 

Golf Course 

Location 

Glfvw 

Golf Course View 

View 

GR 

Garden 

Design (Style) 

HR 

High Rise 

Design (Style) 

in 

Interior Only Stairs 

Basement & Finished Rooms Below Grade 

Ind 

Industrial 

Location & View 

Listing 

Listing 

Sale or Financing Concessions 

Lndfl 

Landfill 

Location 

LtdSght 

Limited Sight 

View 

MR 

Mid-rise 

Design (Style) 

Min 

Mountain View 

View 

N 

Neutral 

Location & View 

NonArm 

Non-Arms Length Sale 

Sale or Financing Concessions 

0 

Other 

Basement & Finished Rooms Below Grade 

0 

Other 

Design (Style) 

op 

Open 

Garage/Carport 

Prk 

Park View 

View 

Pstrl 

Pastoral View 

View 

Pwrln 

Power Lines 

View 

PubTrn 

Public Transportation 

Location 

Relo 

Relocation Sale 

Sale or Financing Concessions 

REO 

REO Sale 

Sale or Financing Concessions 

Res 

Residential 

Location & View 

RH 

USDA - Rural Housing 

Sale or Financing Concessions 

[i 

Recreational (Rec) Room 

Basement & Finished Rooms Below Grade 

RT 

Row or Townhouse 

Design (Style) 

Ss 

Settlement Date 

Date of Sale/Time 

SD 

Semi-detached Structure 

Design (Style) 

Short 

Short Sale 

Sale or Financing Concessions 

sf 

Square Feet 

Area, Site, Basement 

sqm 

Square Meters 

Area, Site 

Unk 

Unknown 

Date of Sale/Time

subjects listing history 

Borrower 

Kevin Mulherin 

Property Address 

4840 Lake Pleasant Rd 

City 

North Branch 

County Lapeer 

State 

MI 

_ 

ZipCode 

48461 

Lender/Client 

Kevin Mulherin 

Adaress 

4540 LAKE PLEASANT Road 

$840 LAKE PLEASANT Road 

+4840 LAKE PLEASANT Road 

4340 LAKE PLEASANT Road 

“840 LAKE PLEASANT Acad 

4840 LAYE PLEASANT Road 

4840 LAKE PLEASANT Road 

48:10 LAKE PLEASANT Read 

4840 LAKE PLEASANT Road 

440 LAKE PLEASANT Road 

48-30 LAKE PLEASANT Road 

4840 LAKE PLEASANT Road 

+8430 LANE PLEASANT Road 

+840 Lake Pleasant Road 

48.40 Lake Piensant Raad 

MLSs 

Cng Type 

 ©np Date 

UWTH 

03/21/2025 03:06:34 PH 

CWTH 

01/30/2024 03:03:00 PH 

ABQ 

01/28/2024 05:46:59 aH 

DOWN 

12/20/2023 03:33:27 PM 

DOWN 

10/25/2023 10:12:35 A 

Down 

09/06/2023 12:28:11 PN 

BK 

08/02/2023'11:02:17 P14 

ABO 

07/28/2023 05:43:41 PM 

DOWN 

06/02/3023 04:00:31 PM 

DOWN 

03/30/2023 10:36:56 AM 

DOWN 

10/27/2022 04:03:31 PH 

HEW 

04/15/2022 12:31105 PM 

NEW 

04/15/2022 12:31:05 PM 

EXPD 

02/13/2013 12:11:36 AM 

NEW 

10/09/2012 09:12:41 AM 

ny info 

CWTH->UWTH 

CCS->CWTH 

ACTV-2CCS 

£429,900-> £399,900 

§450,000->35429,900 

$499,900->5450,000 

CCS 

= ACT 

ACTY-2CCS 

£598,000->5499,900 

§575,000->5598,000 

£059,000->£575,000 

£949,000 

-=ACTV 

ACTV-=EXPD 

£496,900

Supplemental Addendum 

File No. 4840LAW0326 

Borrower 

Kevin Mulherin 

Property Address 

4840 Lake Pleasant Rd 

City 

North Branch 

County Lapeer 

State 

MI 

ZipCode 

48461 

Lender/Client 

Kevin Mulherin 

Legal Description: COMMENCING AT THE WEST 1/4 CORNER OF SECTION 27, TO9N--R11E, NORTH BRANCH 

TWP, LAPEER COUNTY, MICHIGAN; THENCE NO2'09'53"W 910.31 FEET ALONG THE WEST LINE OF SAID 

SECTION 27 TO THE POINT OF BEGINNING: RUNNING THENCE NO2'09'53"W 410.31 FEET ALONG SAID WEST 

LINE OF SECTION 27; THENCE N86'59'22"E 2617.36 FEET ALONG THE NORTH 1/8 LINE OF SAID SECTION 27; 

THENCE S0214'18"E 660.46 FEET ALONG THE NORTH-SOUTH 1/4 LINE OF SAID SECTION 27; THENCE 

$86'59'35"W 2269.69 FEET; THENCE N02'09'53"W 250.00 FEET; THENCE S86GG659'35"W 348.52 FEET TO 

THE POINT OF BEGINNING. BEING A PART OF THE NORTHWEST 1/4 OF SECTION 27, TON--R11E, NORTH 

BRANCH TOWNSHIP, LAPEER COUNTY, MICHIGAN AND CONTAINING 37.69 ACRES OF LAND. SUBJECT TO 

EASEMENTS AND RIGHTS OF WAY OF RECORD. 

The taxes used on the subject are 2024 Winter and 2025 Summer 

* GP Restricted: Sales Comparison Approach - Summary of Sales Comparison Approach 

The subject appears to meet the current zoning requirements for site size and road frontage for the zoning 

ordinance therefore appears to be legal conforming use. The appraiser makes the extraordinary assumption that the 

subject meets all other requirements such as setbacks. The use of this assumption would typically not affect the 

results of this assignment because the subject could be rebuilt on the same foot print with a variance if necessary. 

Based on the existing improvements and the zoning single family residential is the highest and best use. 

Although comparables contract dates are prior to 90 days from the effective date of this report no adjustment was 

made for time of sales. See attached market conditions. 

The appraiser took a course “Understanding Quality and Condition Richard Hagar, SRA taken to be educated on the 

classification ratings. The subject was rated based on inspection and comparables drive by inspection, MLS, county 

record data and interior photos when available. 

Although some sales are located on the other side of a main rd there is no measurable market impact on value. 

All 

comparables are located in similar competitive subdivisions, same neighborhood within the subject marketing area and 

school district. 

It was necessary and typical to exceed the one mile recommended guidelines for distance in this report in order to supply 

the most current and similar comparables available at this time within the subject market. 

All sales in the same school district were used because that has a major influence on the market in this area. 

Effective Date and Report Date 

The effective date of value for this appraisal is March 6, 2026, which represents the date the 

appraiser inspected and observed the subject property and the surrounding market conditions. 

The value conclusion presented in this report reflects the appraiser's opinion of the True Cash 

Value of the subject property as of this effective date based on the market data available 

and analyzed. 

The report was completed and signed on March 8, 2026. The difference between the 

effective date and the signature date reflects the time required for the appraiser to research 

market data, analyze comparable sales, and prepare the appraisal report in accordance with the 

Uniform Standards of Professional Appraisal Practice (USPAP).

Supplemental Addendum 

File No. 4840L AW0326 

Borrower 

Kevin Mulherin 

- 

Property Address 

4840 Lake Pleasant Rd 

City 

North Branch 

County Lapeer 

State 

MI 

ZipCode 

48461 

Lendey/Client 

Kevin Mutherin 

The sales comparison approach was given primary consideration in the development of the value conclusion, as it 

reflects the actions of typical buyers and sellers in the marketplace and is generally considered the most reliable 

indicator of value for residential properties. 

The comparable sales utilized in this analysis represent arm’s-length market transactions and provide credible support 

for the value conclusion. Based on the analysis presented within this report, the concluded value represents the 

appraiser's opinion of the True Cash Value (market value) of the subject property as of the effective date of the 

appraisal, consistent with MCL 211.27. 

* GP Restricted: Reconciliation - Final Reconciliation 

The Sales Comparison Approach was the primary method utilized in developing the opinion of market value for this assignment. 

This approach is considered the most reliable indicator of value for owner-occupied single-family residential properties, as it 

reflects the actions of buyers and sellers in the marketplace. 

The Cost Approach was considered but was not developed in this report. The subject dwelling is approximately 61 years old and 

rated in C4 condition. Due to the age of the improvements and the resulting subjective estimation of accrued depreciation, 

including physical depreciation and potential functional factors, the Cost Approach was considered less reliable as an indicator 

of market value. In addition, the subject property contains approximately 37.69 acres, and estimating the contributory value of 

the excess acreage and any surplus land through the Cost Approach would require additional assumptions that may not reflect 

market behavior as accurately as the Sales Comparison Approach. 

The Income Approach was not developed because the subject property is a single-family residence located in a rural 

owner-occupied market where properties are not typically purchased for income-producing purposes. Additionally, there is a 

lack of sufficient verified rental data and rental sales necessary to develop a reliable Gross Rent Multiplier (GRM) analysis. 

Therefore, the Sales Comparison Approach was relied upon as the most applicable and credible method for estimating the 

market value of the subject property.

USPAP & Market Addenda 

File No. 4840LAW0326 

Boower 

Kevin Mulherin 

Property Address 

4840 Lake Pleasant Rd 

City 

North Branch 

County Lapeer 

State 

Mi 

Zip Code 

48461 

Lender/Client 

Kevin Mulherin 

USPAP 3 year disclosure: This appraiser has not performed an appraisal on the subject property in the past 3 years. 

Further this appraiser has not performed any services on the subject property, 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. 

This appraiser has no vested interest in the subject property. 

Appraiser Independence Information: The appraiser has prepared this appraisal in full compliance with applicable 

Appraiser Independence Requirements and has not performed, participated in, or been associated with any activity in 

violation of those requirements. 

EXPOSURE TIME: 

Estimated exposure time 30-120 Days 

EXPOSURE time exposure time is defined as the estimated length of time the property interest being appraised would 

have been exposed to the open market prior to the hypothetical consummation of a sale at the concluded value as of the 

effective date of the appraisal. The estimate of exposure time is based on analysis of comparable sales, listing histories, 

current supply and demand conditions, and typical marketing periods for similar properties within the subject's competitive 

market area. 

Based on the analysis of comparable sales and prevailing market conditions within the subject's market area, the 

estimated exposure time associated with the concluded True Cash Value is approximately three to six months. This 

estimate reflects typical marketing periods observed for similar properties in the subject's competitive market segment. 

FIRREA Certification Statement is not required because this report is not for lending purpose: 

The appraiser certifies and agrees that this appraisal was prepared in accordance with the requirements of Title XI of the 

Financial Institutions, Reform, Recovery, and Enforcement Act (FIRREA) of 1988, as amended (12 U.S.C. 3331 et seq.), 

and any applicable implementing regulations in effect at the time the appraiser signs the appraisal certification. 

See supplemental addenda for scope of work, intended user and other appraiser/appraisal information. 

Neighborhood - Market Conditions: Conventional, VA and FHA as well as owner financing is readily available at rates and 

terms acceptable to the average purchaser, with general marketing time is as stated on page one of this report. Market 

values and property values within the neighborhood are conducive to the environment of the surrounding area. If the 

subject property is priced competitively, prepared for sale, and marketed properly, its marketing fime should typically be as 

stated on page 1 in this report. Loan discounts and interest buy downs, if desired, are the responsibility of the buyer. 

Seller's concessions are typical. Current interest rates for home loans are attractive to many buyers however the rates 

have seen an increase in the prior 90 days. 

Market Trend Analysis 

The attached graphs iliustrate trends in both the competing market (properties similar to the subject that represent direct 

competition) and the broader market area, which reflects all residential sales within the larger market area. Analysis of the 

competing market graphs indicates that both the median and average sales prices experienced a decline during the 

analyzed period, reflecting a softening in market conditions for properties similar to the subject. The trend lines suggest 

that this decline occurred as the market adjusted from prior elevated price levels. 

The graphs representing the broader market show a similar pattern. Median and average sale prices for the overall market 

area also demonstrate a dip in values during the same general time frame, indicating that the change in market conditions

Supplemental Addenda 

File No. 4840LAW0326 

Borrower 

Kevin Mulherin 

Property Address 

4840 Lake Pleasant Rd 

North Branch 

County 

Lapeer 

State 

MI 

ZipCode 

48461 

Kevin Mulherin 

Intended Use, Intended Users, Definition of Value and Scope of Work 

The intended use of this appraisal report is to provide an independent opinion of the True Cash Value of the subject 

property for potential use by the property owner in matters relating to property tax assessment review. The appraisal may 

be submilted to the assessing authority for consideration in evaluating the current assessed value of the property. The 

intended users of this appraisal report are the client (property owner), the North Branch Township Assessor Nathan D. 

Hager, MMAO, and the Michigan Tax Tribunal if the report is submitted as part of an assessment appeal or related tax 

matter. No other intended users are identified by the appraiser, and use of this report by any party other than the identified 

intended users is not authorized by the appraiser. 

The appraiser's analyses, opinions, and conclusions were developed and this report has been prepared in conformity with 

the Uniform Standards of Professional Appraisal Practice (USPAP). The assignment was performed in an objective and 

impartial manner and without bias. The appraiser does not consider race, color, religion, national origin, gender, marital 

status, familial status, disability, age, sexual orientation, or any other protected class in the development of the appraisal. 

For purposes of this assignment, the value opinion is based on the Michigan property tax definition of True Cash Value, 

which under Michigan Compiled Laws Section 211.27 is defined as the usual selling price of property at the place where 

the property to which the term is applied is at the time of assessment, being the price that could be obtained at private sale 

and not at forced or auction sale. True Cash Value is generally considered equivalent to the market value of the property 

under typical market conditions. This definition is also consistent with the Internal Revenue Service definition of Fair Market 

Value, defined as the price at which property would change hands between a willing buyer and a willing seller, neither 

being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts. 

The purpose of this appraisal report is to estimate the True Cash Value of the subject property as of the effective date of 

the appraisal. The function of this appraisal is not for mortgage lending purposes and is intended solely for the intended 

use and intended users stated above. The property rights appraised are the fee simple estate, defined as absolute 

ownership unencumbered by any other interest or estate subject only to the limitations imposed by governmental powers 

such as taxation, eminent domain, police power, and escheat. 

The scope of work for this assignment 

was developed in accordance with the Uniform Standards of Professional Appraisal 

Practice (USPAP) and reflects the nature of the appraisal problem and the intended use of the report for property tax 

assessment review. The appraiser performed a visual inspection of the accessible interior and exterior areas of the subject 

property and observed the surrounding neighborhood and market area. Relevant market data was researched, verified, 

and analyzed from reliable public and private sources including Realcomp MLS, Michigan MLS, and public record data 

available through county and municipal sources. 

The primary method utilized in developing the value conclusion was the sales comparison approach, as this approach 

reflects the actions of typical buyers and sellers in the marketplace and is generally considered the most reliable indicator 

of value for residential properties. Comparable properties were inspected from the street or other publicly accessible 

vantage points when possible and were analyzed for similarities and differences in location, site characteristics, 

improvements, and other relevant market factors. 

Market data occurring both prior and subsequent to the effective date of value (Tax Day) was analyzed in order to 

determine market conditions and to support the appraiser's opinion of True Cash Value as of the effective date. The 

analyses, opinions, and conclusions presented in this report represent the appraiser's professional judgment based on the 

available market data and the scope of work performed. 

The appraiser provides an opinion of value and does not guarantee that the property is free of defects or environmental 

conditions. The inspection performed by the appraiser is limited to visible and accessible areas and is not a structural, 

engineering, or environmental inspection. For matters relating to structural integrity, environmental conditions, or other 

specialized concerns, the client is encouraged to obtain the services of qualified professionals. 

This appraisal was prepared specifically for the intended use stated above. The appraiser makes no representation that the 

value conclusion will be accepted by the assessing authority or the Michigan Tax Tribunal, as assessment determinations 

are made by the appropriate governmental authorities and may consider additional information beyond the scope of this 

appraisal assignment. The analyses, opinions, and conclusions represent the appraiser's professional judgment as of the 

effective date of the appraisal based on the data available and the scope of work performed. 

This report is not intended for lending, financing, investment decision making, or any purpose other than the intended use 

stated herein. Any use of this report by parties other than the identified intended users or for purposes other than those 

stated is not authorized by the appraiser and is undertaken at the sole risk of the user.

Aerial Map 

Borrower 

Kevin Mulherin 

Property Address 

4840 Lake Pleasant Rd 

City 

North Branch 

County 

Lapeer 

State 

MI 

ZipCode 

48461 

Lender/Client 

Kevin Mulherin 

a la mode, 

in 

SUBJECT 

4840 Lake Pleasant Rd

Location Map 

Borrower 

Kevin Mulherin 

Property Address 

4840 Lake Pleasant Rd 

City 

North Branch 

County 

Lapeer 

State 

MI 

ZipCode 

48461 

Lender/Client 

Kevin Mulherin 

a la mode, inc. 

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2.66 miles SE 

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2720 Oak Grove Rd 

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5343 Clear Lake Rd 

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2.32 miles SE 

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Building Sketch 

Borrower 

Kevin Mulherin 

Property Address 

4840 Lake Pleasant Rd 

City 

North Branch 

County Lapeer 

State 

MI 

Zip Code 

48461 

Lender/Client 

Kevin Mulherin 

58.8 

24" 

28' 

28' 

4 

82 

First Floor 

® 

Garage 

58.8 

24

Subject Photo Page 

Borrower 

Kevin Mulherin 

Property Address 

4840 Lake Pleasant Rd 

City 

North Branch 

County Lapeer 

State 

MI 

Zip Code 

48461 

Lender/Client 

Kevin Mulherin 

Subject Front 

4840 Lake Pleasant Rd 

Sales Price 

Gross Living Area 

1,646 

Total Rooms 

5 

Total Bedrooms 

3 

Total Bathrooms ~~ 1.1 

Location 

N;Res; 

View 

N;Res 

Site 

37.69 ac 

Quality 

Q4 

Age 

61 

Subject Rear

Comparable Photo Page 

Borrower 

Kevin Mulherin 

Property Address 

4840 Lake Pleasant Rd 

City 

North Branch 

County Lapeer 

State 

MI 

ZipCode 

48461 

Lender/Client 

Kevin Mulherin 

Comparable 

1 

5589 Clear Lake Rd 

Prox. to Subject 

~~ 2.66 miles SE 

Sale Price 

385,000 

Gross Living Area 

Total Rooms 

5 

Total Bedrooms 

3 

Total Bathrooms ~~ 1.0 

Location 

N:Res; 

View 

N:Res; 

Site 

38.00 ac 

Quality 

Q4 

Age 

68 

Comparable 2 

5343 Clear Lake Rd 

Prox. to Subject 

2.32 miles SE 

Sale Price 

249,000 

Gross Living Area 

Total Rooms 

6 

Total Bedrooms ~~ 

3 

Total Bathrooms ~~ 1.0 

Location 

N;Res; 

View 

NiRes; 

Site 

1.00 ac 

Quality 

Q4 

Age 

57 

Comparable 3 

2720 Oak Grove Rd 

Prox. to Subject 

3.21 miles W 

Sale Price 

375,000 

Gross Living Area 

Total Rooms 

5 

Total Bedrooms 

~~ 3 

Total Bathrooms ~~ 2.0 

Location 

N;Res; 

View 

N:Res;

Photograph Addendum 

Borrower 

Kevin Mulherin 

Property Address 

4840 Lake Pleasant Rd 

City 

North Branch 

County 

Lapeer 

State 

MI 

Zip Code 

48461 

Lender/Client 

Kevin Mulherin 

Pole Barn Roof is old 

Second View of Pole Barn 

Debris the prior owner left on the property 

Shed needs to be removed

Photograph Addendum 

State 

MI 

Zip Code 

48461 

Borrower 

Kevin Mulherin 

Property Address 

4840 Lake Pleasant Rd 

City 

North Branch 

County Lapeer 

Lender/Client 

Kevin Mulherin 

Broad Market - Median Sales and List Price 

Wl Median 

Sale Price 

IW Median 

List Price 

~<O~ Median 

Sale Price Trend 

Competing Market 

- Median Sales and List Price 

W Median Sale Price 

#0 Median List Price. <r Median Sale Pie Trend 

| 

= 

= 

Median 

List Price Trend 

li 

<= 

Median List Price Trend 

608,000 

405,000 | 

558,000 

355,000 

508,000 

305,000 

| 

x 

: 

458,000 

255,000 

| 

408,000 

205,000 

358,000 

i 

155,000 | 

308,000 

105,000 

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Comments: 

Comments: 

Competing Market 

- Average Sales and List Price 

Broad Market - Average Sales and List Price 

[) 

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Average Ust Pres =O Average Sate Price Trend 

WM Average Sale Price 

11 Average Ust Price ~O- Average Sale Price Trend 

- 

were List Price Tieng 

~~ Average Lis! Price Trend

= UNITED STATES 

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** See International Mail Manual at http://pe.usps.com for availability and limitations of coverage. 

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TONAL USE 

Origin: 48317 

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2595110311-52 

PRIORITY MAIL® 

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EXPECTED DELIVERY DAY: 

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TO: 

PO BOX 30232 

HE LANSING MI 48909-7732 

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