Mulherin.pdf
Kevin B Mulherin Petitioner V Township Of North Branch Respondent · 26-002288-TT
Text extracted from the reviewed PDF, organized by page. OCR and reading order may contain errors; confirm details in the PDF below.
Page 1
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
Page 2
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:
Page 3
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
Page 4
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
Page 5
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
Page 6
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.
Page 7
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 EXCEPage 8
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.Page 9
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
Page 10
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
Page 11
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
=
8Page 12
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)
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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.
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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.):
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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)
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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
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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
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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
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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
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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).
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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.
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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
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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.
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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
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Location Map
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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
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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
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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;
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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
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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 : - A wv hs he © © on 0 0 3 x 4 ln lo bn nn © ¥F 5 § §&§ §& &§ & 8 Ss § § § § § § § FS § 5 FF § § 5 RX § fF § § § F&F § F Comments: Comments: Competing Market - Average Sales and List Price Broad Market - Average Sales and List Price [) ge Sale 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
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= UNITED STATES POSTAL SERVICE Fa FIRMLY TO SEAL PRESS ® Expected delivery date specified for domestic use. ‘® Domestic shipments include $100 of insurance (restrictions apply).* B USPS Tracking® service included for domestic and many international destinations. ® Limited international insurance.** ® When used internationally, a customs declaration form is required. *Insurance does not cover certain items. For details regarding claims exclusions see the Domestic Mail Manual at hitp://pe.usps.com. ** See International Mail Manual at http://pe.usps.com for availability and limitations of coverage. = EE Retail | p= US POSTAGE PAID . TONAL USE Origin: 48317 1065 8 n 2595110311-52 PRIORITY MAIL® 0 Lb 6.10 Oz RDC 03 EXPECTED DELIVERY DAY: 04/01/28 B060 SHIP TO: PO BOX 30232 HE LANSING MI 48909-7732 5 USPS TRACKING® # J A ==> 9505 5135 5836 6089 2337 23 2 on oz} > D ojurejohoaigmoy PRI M