25-002776.pdf
Mark A Ciolek, Petitioner V Township Of Cedar Creek, Respondent · 25-002776-TT
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Page 1
RECEIVED DEC 1 0 2075 MICHIGAN TAX TRIBUNAL STATE OF MICHIGAN GRETCHEN WHITMER DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS MARLON |. BROWN, DPA GOVERNOR DIRECTOR a 474 A Cio LE 12 MICHIGAN TAX TRIBUNAL Petitioner(s) ps Vv OCKe! 0g D0 A277, To n Ia ‘ MTT Docket Nog L ovns 10D = Eur Creede espbndent(s PROOF OF SERVICE FOR PROPERTY TAX PETITION *To be filed after the Tribunal issues the Notice of Docket Number* Mole CAD [el states that on “Dec. 3 2028 he/she [Name of person serving/mailing petition] [date of service] served a copy of the Petition relative to the above-captioned matter upon: [Provide name and address of the following entities] 1. Assessor (via certified mail): cbby Neder hped R _ i 1025! gat AL RD CAV le. ML HG,0] 2. City Clerk or Township Supervisor/Clerk (via certified mail): 3. County Equalization Director (via first class mail or personal service): 4. County Clerk (via first class mail or personal service): 5. Secretary of the local school board (via first class mail or personal service): 6. State Treasurer (via first class mai): Michigan Department of Treasury, State Treasurer
Page 2
STATE OF MICHIGAN
GRETCHEN WHITMER
DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS
MARLON I. BROWN, DFA
GOVERNOR
LANSING
DIRECTOR
PROPERTY TAX APPEAL PETITION FORM
VALUATION / EXEMPTION / CLASSIFICATION APPEAL
Do not use this form to appeal Principal Residence Exemption, Qualified Agricultural Exemption, Special Assessment, or
Non-Property tax disputes.
Pursuant to Michigan Tax Tribunal Rule (TTR) 277(3), you MUST submit a copy of the notice giving rise to the appeal
(e.g. Board of Review Decision or Notice of Uncapping) with this Small Claims Petition, if applicable. if you do not
°
submit this document, you may be held in default.
Section 4: Petitioner’s Contact Information
First Name
Ml.
Last Name/Company Name
ARV
&
citer
TTX PROPERTIES llc
Mailing Address (No., Street, P.O. Box or Rural Route)
[1BLS 8
Maple
dy
Rj
City or Town
State
ZIP Code
MALLE E/TY
Wz]
49g
Telephone Number
yp
Fax Number
22] 357 785%
E-mail Address (do not enter unless you want MTT to send all correspondence via e-mall)
Section 2: Petitioner’s Attorney/Authorized Representative’s Contact Information
]
First Name
[XR
Last Name
Firm Name (if any}
Address {No., Street, P.O. Box or Rural Route)
City or Town
State
ZIP Code
Telephone Number
Fax Number
E-mail Address (do not enter unless you want MYT to send all correspondence via e-maii)
Section 3: Subject Property Information
How many
Ifyou are appealing more than one parcel, are they contiguous or adjoining?
parcels are you
Yos*
No**
appealing?
*if yas, use a multiple parce! form for information regarding any contiguous parcels.Page 3
STATE OF MICHIGAN
GRETCHEN WHITMER
DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS
MARLON 1 BROWN, DPA
GOVERNOR
LANSING
Section 4: Issues Being Appealed (check ai that apply)
Morrie Cash and Taxable Value
0 Poverty Exemption
[J Taxable Vaiue Only {caloutation)
[7 Digabled Veterans Exemption
[1 Uncapping of Taxable Value
[0 Etigible Manufacturing Personal Property (ESA)
°
T] exemption from Taxation (other than the denial of a
[3 Classification
Principal Residence or Qualified Agricultural Exemption)
Section 5: Explain the Reason for this Appeal
See ATH MENT
Section 6: Jurisdictional issues
Year(s) you are appealing:
625
,
Dld you protest tha assessment at a Board of Raview (BOR)? WwW Yes
0 No
it Yes, check which BOR you attended AND altach the BOR decision: & Maroh
[J duly
[7] becember
{E No, check the applicable reason(s):
[3 Not requirad to attend
0 Assessment Change Notice was not received by Petitioner
0 Appeating a purportad Clerical Error or Mutual Mistake of Fact {if yes, include explanation in Section 5)
{7] Appealing within 86 days of State Tax Commission OrderPage 4
STATE OF MICHIGAN
GRETCHEN WHITMER
DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS
MARLON |. BROWN, DPA
GOVERNOR
LANSING
DIRECTOR
Section 7: Valuation Information *use the multiple parcel form for additional, contiguous parcels.
Parcel identification Number:
2p G=2% — H1°(
Classification of Property:
ha
Porgene!
{check one)
Agricultural
Commoarcial
Industrial
Reslgaptiat
Timber-Cutover
Developmental
Utility
(check one)
Current Assessed Value (also known as State Equalized Value) as establishad by the BOR:
2, Bel
Gurrent Taxable Value as established by the | adn: 77
What do you batieve is the fair market value (also known as True Cash Value)?
LYH3 pL
Multiply the True Cash Value by .5 and enterfiere. This is your contention of Assessed Value.
JF gov
Ifyou believe the Taxable Value differs from your contention of Assessed Value, enter your contention of Taxable Value,
/%x7 779
Section 8: Classification Information *Only the Mi Dep't of Treasury may appeal this lssue to the Tribunal*
Parcet Identification Number;
Current Classification of Property as established by Board of Review:
Real
Personal
(chack one)
Agricultural
Commercial
Industrial
Residential
Timber-Cutover
Developmentat
Utility
{check one)
What do you betleve is the proparty’s classification?
Real
Parsonal
(check one)
0
Agricultural
Commercial
Industrial Residential
Timber-Cutover
Developmental
Utility
(check one}
If improvad property, how is the property currently being used?
fimproved property, for what use was the property designed?Page 5
/ dees 15 a K Lid bai tor nea luatine the maketakilly of a pepedy. No malar Hoo | ren he ploper 14 ye pee is Lin Ted 10 hen 15 diffu Yo verch. By the townships own deternonahion gud hicyhdyite - by Thea on dhe sestsinent Topu, 4h povpey has very Poof es, | Ny ohanges So thd condition Mave bean made, in 2 i I The, na? detenonded puer Hime, (chit 5D | Herege sold 14 larger units je Typically lower JA Price = per Gre Then & muller Trusts. Avthing ower 80 ames wat nsel “Bo defen land vane, (Zr wl) An « p rmsd oF juncket vale (1 rue cach ny wie Condit | [4a nabit eN y
Page 6
Price Per Acre $3,800 12:30 Acres 2111-15-4407 04/05/23 $47,000 12.71 $3,698 2209-14-2203 10/12/23 $53,000 | 19.20 $2,760 2209-30-1404 07/27/23 $100,000 30.00 $3,333 2309-01-3404 07/22/22 $80,000 19.87 $4,026 2309-17-3201 08/10/23 $65,000 23.56 $2,759 2310-04-3104 07/28/22 $54,750 18.90 $2,897 2310-33-4401-02 08/16/22 $87,500 19.75 $4,430 2311-23-1107 02/17/23 $114,900 20.54 $5,594 2411-11-4309 06/13/22 $50,000 14.54 $3,438 Price Per Acre $3,700 31.40 Acres 2211-23-4101 12/22/23 $90,000 38.05 $2,365 2211-32-2201-02 01/05/24 $92,500 39.58 $2,336 2308-31-2201-01 09/29/23 $167,200 43.97 $3,803 2312-06-3102-01 08/03/23 $80,000 36.28 $2,205 2412-04-4301 02/28/23 $150,000 33 $3,947 2412-05-3401 03/08/24 $135,000 39.69 $3,401 Price Per Acre $3,000 40+ Acres 2112-30-2201 10/02/23 $140,000 42.15 $3,321 2209-14-4201 01/09/23 $160,000 80 $2,000 2310-10-1201 12/20/23 $188,500 73.67 $2,559 2312-06-2201-02 02/23/23 $232,000 75.18 $3,086 2411-12-1102 03/28/23 $250,000 80 $3,125 2411-33-4201-02 07/13/23 $207,500 70 $2,964 Price Per Acre $2,300 EXABT B
Page 7
Parcel Number: 83-2309-23-4101 Jugisdiction: Cedar Creek Township County: Wexford Printed on 01/20/2025 Grantor Grantee Sale sale Inst. Terms of Sale Liber Verified Prent. Price Date Type & Page By Trans. HARSTEAD, LORENZ TTH PROPERTIES LLC 180,000 12/17/2010 WD 03-ARM'S LENGTH 635/2507 PROPERTY TRANSFER 100.0 Property Address Class: RESIDENTIAL-IMPRO Zoning: Building Permit (s) _ Date Number Status 22 RD School: MANTON CONSOLIDATED SCHOOLS New House 04/23/2014 -201403 Entered P.R.E. 100% 12/12/2016 Qual. Fr. PA 42 i 3 E = N ish Owner's Name/Address MAP ¥: 2021 - GATE LOCKED = - § » - - TTH PROPERTIES LLC RETO TE - x = ms 2024 v 843 V/TFA: 2 25 11365 S MAPLE RD i ESE ICV 328,843 TCV/ 96. . I MAPLE CITY MI 49664 X Improved Vacant Land Value Estimates for Land Table RES 1.R - RESIDENTIAL Public ) i * Factors * ) — Improvements Description Frontage Depth Front Depth Rate %Adj. Reason Value — - Birt Road RESIDENTIA 40+ ACRES 160.00 Acres ~~ 2100 70 VERY POOR ACCESS 235,200 Tax Description ISS Gravel Road 160.00 Total Acres Total Est. Land Value = 235,200 SE 1/4 SUB TO EASMT L390 P16 '02 160 A. Paved Read = i. S—— EER -. CC. SEC. 23 T23N ROW -MANTON- Comments /Influences Storm Sewer Land Improvement Cost Estimates ~ Sidewalk Description Rate Size * Good Cash Value Water Wood Frame 28.93 80 83 1,921 Sewer Total Estimated Land Improvements True Cash Value = 1,921 X Electric B AC oo 3 Gas Curb Street Lights Standard Utilities Underground Utils. Topography of Site © Level X Rolling Low X High Landscaped Swamp Wooded Pond Waterfront Ravine Wetland — = Sem PEER S—— . = Pat Flood Plain Year Land Building Assessed Board of Tribunal/ Taxable Value Value Value Review Other Value Who When What 2024 117,600 "46,800 164,400 i : 125,877C . ‘ iy Z meee DN 10/03/2011 INSPECTED 2023 100,800 40,800 141,600 - 119, 683C The Equalizer. Copyright ©) T1999 - 2009. DN 05/05/2014 INSPECTED 55% rT - - — —— - - ‘Licensed To: Township of Cedar Creek, DN 05/17/2021 INSPECTED goer ie 00 138;909 Ld, 3c) County of Wexford, Michigan 2021 106,400 31,500 137,900 110,528C *** Information herein deemed reliable but not guaranteed*** EAxmEBiT Ix
Page 8
Michael L. Sheridan & Associates Real Property Appraisal & Consultation 2025 -TTH Properties File No. 11apr25a 83-2309-23 APPRAISAL OF & 2313 147 Rd Acreage Lot with small A-Frame Hunting Cabin/with Addition - Cedar Creek Township - Wexford County LOCATED AT: 2313 N. 47 Road Manton, MI 49663 FOR: TTH Properties LLC C/O Mark Ciolek 11365 S Maple City Road Maple City, Michigan 49664 AS OF: December 31, 2024
Page 9
Michael L. Sheridan & Associates, Inc. Real Property Appraisal & Consultation 2025 -TTH Properties File No. 11apr25a 83-2309-23 April 17, 2025 TTH Properties LLC C/O Mark Ciolek 11365 S Maple City Road Maple City, Michigan 49664 File Number: 11apr25a 83-2309-23-4101 Dear TTH Properties LLC C/O Mark Ciolek, In accordance with your request, | have appraised the real property at: 2313 N. 47 Road Manton, MI 49663 The purpose of this appraisal is to develop an opinion of the market value of the subject property, as improved. The property rights appraised are the fee simple interest in the site and improvements. In my opinion, the market value of the property as of December 31, 2024 is: $443,000 Four Hundred Forty-Three Thousand Dollars The attached report contains the description, analysis and supportive data for the conclusions, final opinion of value, descriptive photographs, limiting conditions and appropriate certifications. Respectfully, P Ichael L-Sheridan, SRA ep General Appraiser
Page 10
[client File #:[2025 -TTH Properties Appraisal File #:] 11apr25a 83-2309-23) Appraisal Report - Residential . Appraisal Company: Michael L. Sheridan & Associates Al Reports Address: 7110 South Rosinski Road PO Box 305 Cedar, Michigan 49621 Form 100.05 * dl Phone: 231 633-1104 Fax: 231 305-5999 Website: www.appraisalsbysheridan.com Appraiser: Michael L. Sheridan, SRA Co-Appraiser: Al Membership (ifany): [XJsrA [ Jmal [JsrPa [JAl-GRS [ JAI-RRS |AlMembership (fany). [ JSRA | JMAI | JSRPA [ JAGRS [ JAI-RRS Al Status (if any): [_]Candidate for Designation [_] Practicing Affiliate Al Status (if any): [_]Candidate for Designation [Practicing Affiliate Other Professional Affiliation: National Association of Realtors Other Professional Affiliation: E-mail: midisher@yahoo.com E-mail: Client: TTH Properties LLC C/O Mark Ciolek Contact: Address: 11365 S Maple City Road, Maple City, Michigan 49664 Phone: 231 357-7833 Fax: E-mail: B PROPER D ATIO Address: 2313 N. 47 Road City: Manton County: Wexford State: MI Zip: 49663 Legal Description: SE % of Section 23, T23N ROW, Cedar Creek Township, Wexford County Tax Parcel #: 2309-23-4101 RE Taxes: Tax Year: Use of the Real Estate As of the Date of Value: Recreation / Rustic Hunting A-Frame Cabin / Deer Camp Use of the Real Estate Reflected in the Appraisal: Recreation / Rustic Hunting A-Frame Cabin / Deer Camp Opinion of highest and best use (if required): Recreation / Rustic Hunting A-Frame Cabin / Deer Camp SUBJECT PROPERTY HISTORY Owner of Record: TTH Properties LLC Description and analysis of sales within 3 years (minimum) prior to effective date of value: Sold 12/17/2010 for $180,000. Cash sale. Arms length. Description and analysis of agreements of sale (contracts), listings, and options: None RECONCILIATIONS AND CONCLUSIONS Indication of Value by Sales Comparison Approach $ 368,000 Indication of Value by Cost Approach $ 442,787 Indication of Value by Income Approach $ N/A Final Reconciliation of the Methods and Approaches to Value: The direct sales approachimethodology to value provides five most similar to subject sales. Range of value, prior to consideration for +I- adjustment, is per acre is $2,000, $2,001, $2,143, $2,563, & $2,688. Median value is $2,143 and mean value is $2,279 per acre. Comparable five (§2,001/Ac) is located in subject township but is only 80 acres. Smaller than subject acreage size would generally require a minus adjustment to unit of measure (valuefacre). Comparable two ($2,688/Ac) is located in subject township but is only 80 acres. Smaller than subject acreage size would generally require
Page 11
Client:
TTH Properties LLC C/O Mark Ciolek
Client File #:
2025 -TTH Properties
Subject Property:
| 2313 N, 47 Road
Appraisal
File #:| 11apr25a 83-2309-23
ASSIGNMENT PARAMETERS
intended User(s). TTH Properties LLC C/O Mark Ciolek
Intended Use: To assist our cient in its true cash andlor taxable value dispute to Michigan Tax Tribunal pertaining to the
pending 2025 real property tax appeal. See Attached Addendum.
This report is not intended by the appraiser for any other use or by any other user.
Type of Value: Market (true cash value)
Effective Date of Value: December 31, 2024
Interest Appraised:
[X|Fee Simple
| JLeasehold
[ JOther:
Hypothetical Conditions: (A hypothetical condition is that which is contrary to what exists, but is asserted by the appraiser for the purpose of analysis.
Any
hypothetical condition may affect the assignment results.)
Extraordinary Assumptions: (An extraordinary assumption is directly related to a specific assignment and presumes uncertain information to be factual,
If found to be false this assumption could alter the appraiser's opinions or conclusions. Any exiraordinary assumption may affect the assignment results.)
Extraordinary assumption that subject condition and physical characteristics on the date of appraiser viewing, (April 10, 2025), are similar
to conditions and physical characteristics on December 31, 2024.
This is an Appraisal Report in accordance with Standard Rule 2-2(a) of the Uniform Standard of Professional Appraisal Practice (USPAP).
SCOPE OF WORK
Definition: The scope of work is the type and extent of research and analysis in an assignment. Scope of work includes the extent to which the property is
identified, the extent to which tangible property is inspected, the type and extent of data research, and the type and extent of analysis applied to arrive at
credible opinions or conclusions. The specific scope of work for this assignment is identified below and throughout this report.
Scope of Subject Property Inspection I Data Sources Utilized
Approaches to Value Developed
Appraiser:
Cost Approach:
Property Inspection:
XJves
[no
is necessary for credible results and is developed in this analysis
Date of Inspection: 04/11/2025
(L)1s not necessary for credible results; not developed in this analysis
Describe Scope of Property Inspection, Source of Area Calculations
[1s not necessary for credible resuits but is developed in this analysis
and Data Sources Consulted:
Limited cursory viewing of readily observable.
Review of government data, tax legal, tax plat, aerial maps & mls data.
Sales Comparison Approach:
Measurement of exterior. Viewing of interior.
Xs necessary for credible results and is developed in this analysis
Co-Appraiser:
rs not necessary for credible results; not developed in this analysis
Property inspection:
es
[Ono
Oss not necessary for credible results but is developed in this analysis
Date of inspection:
Describe Scope of Property Inspection, Source of Area Calculations
and Data Sources Consulted:
Income Approach:
Ths necessary for credible results and is developed in this analysis
[XJ1s not necessary for credible results; not developed in this analysis
{Js not necessary for credible results but is developed in this analysis
Additional Scope of Work COmMENtS: The appraisal report Is the praduct of a process of collecting, confirming and then reporiing the data. This appraiser has identified the appraisat problem to be determining
the market value {true cash value) of a recreational usage property, Subject property Is located in Cedar Creek Township, Wexford County. The client and intended user
is TTH Properties LLC CIO Mark Ciofek. Other intended
users include our client's legal counset only while serving to assist our client in Its real property tax appeal case. The Board of Review andfor Michigan Tax Tribunal is also considered an intended user
of our appraisal reporl.
The appraiser has collected information on the subject property, neighborhood, comparable properties and marketing conditions. Coltection and confirmation of data is from imited cursory physical viewing of the readilyPage 12
Client:
TTH Properties LLC C/O Mark Ciolek
Client File #:
2025 -TTH Properties
Subject Property: | 2313 N. 47 Road
Appraisal Eile
#:{ 11apra5a 83-2309-23
MARKET AREA AN,
Location
Built Up
Growth
Supply & Demand
| Value Trend
Typical Marketing Time
[Durban
(XJunder 25%
[XRapid
[Dshortage
[increasing
{”
Junder 3 Months
{suburban
[25-75%
[stable
{X]in Balance
[X)stable
[3-6 Months
Rural
[Cover 75%
Osiow
Jover supply
[pecreasing
[XJ over 6 Months
Neighborhood Single Family Profile
Neighborhood Land Use
Neighborhood Name: Wexford County and
Price
Age
similar rural northern Michigan counties.
NA
Low
N/A | 1 Family
20%
Commercial
0%
|PUD [J Condo[ J] HOA:$
/
N/A
High
N/A
[Condo
0%
Vacant
0% | Amenities:
N/A Predominant
N/A | Multifamily
0%
AgRec
80%
Market area description and characteristics:
Rural neighborhood and marketing area. Wexford County (Cedar Creek Township) and similar
rural counties/townships in the northern lower peninsula of the State of Michigan. Suburban to regional urban center of Cadillac.
Shopping and employment available in local towns/villages and nearest diversified regional urban area of Cadillac which is located seven
miles south.
Overall, the data indicates a trend of fluctuating values with best opinion of stable values for unimproved lots.
Dimensions: 2640" x 2640" +/-
Area: 160.00 Acres
View: Country side
Shape: Square
Drainage: Appears adequate
Utility: Seasonal gravel road access
Site Similarity/Conformity
To Neighborhood
Zoning/Deed Restriction
Size:
View:
Zoning: Residential (mls data)
Covenants, Condition & Restrictions:
(Jsmalter than Typical
(Jravorable
OYes
[No {Junknown
(Typical
[XJ Typical
[XJtegal
[Jno zoning
Documents Reviewed
[XJLarger than Typical
Less than Favorable
Legal, non-conforming
[ves
Ono
[ Jillegal
Ground Rent: $
/
Utilities
Off Site Improvements
Electric
[XJPublic
[other
Street
[XJPublic
["Trrivate Gravel (seasonal)
Gas
{Jpublic
[other
Alley
[Jpublic
[(Jprivate Noneftypical
Water
{_]Public
[X)other Water well
Sidewalk
~~ [_]Public
[private Noneftypical
Sewer
{ Jpublic
[X]Other Septic
Street Lights
[_}Public
[Private Noneftypical
Site description and characteristics: The subject is a one hundred sixty acre lot located at the east end of a seasonal grave! road. Subject
suffers from easement along portion of eastern boundary.
A mostly wooded with limited open areas large acreage lot. Topography is
slight roll to sioping to hilly. Access is limited due to seasonal road and/or private driveway easement and topography.Page 13
Client:
TTH Properties LLC C/O Mark Ciolek
Client File #:
|
2025 -TTH Properties
Subject Property:
{2313 N. 47 Road
Appraisal File #:|
11apr25a 83-2309-23
IMPROVEMENTS ANALYSIS
General
Design: A-Frame/Addition-One Story
No. of Units: 1
No. of Stories: 1+ | Actual Age: 54/5
| Effective Age; 25
[Existing
["Junder Construction
[proposed
[attached
[Ipetached
[[
IManufactured
Modular
Other:
Exterior Elements
| Roofing: Shingle
[ Siding: Shingle/Wood
| Windows: Fixed/DH
[Patio
[[X]Deck Wood
[[ Jporch
[Jpoot
[[JFence
Other:
Interior Elements
| Flooring: Concrete Slab
[ Walls: Studs & Wood
[Fireplace # Wis
Kitchen:
[PJRefrigerator
| JRange
[ Joven
[ IFanfHood
| Microwave
| JDishwasher
| Countertops: Wood
Other:
Foundation
1[Jcrawl space
[[X]Stab Concrete
[Basement
Other:
Attic
XINone
[scuttle
[[TJorop Stair
[[Jstairway
I JFinished
Mechanicals
HVAC: Electric BB & W/S
| Fuel: Electricrwood
[ ir Conditioning:
Car Storage
[oriveway
[[
JGarage
[carport
[["JFinished
Other Elements
Storage sheds/Personal property
Above Grade Gross Living
Area (GLA)
Living
Dining
Kitchen
Den
Family
Rec.
Bedrms
#Baths
Utility
Other
Area Sq.Ft.
Levell
X
X
1
1
1,005
Level 2
1-Loft
Non GLA SF
-0-
Finished area above grade contains:
Bedroom(s): 2
Bath(s):
1
GLA:
1,005
Summarize Above Grade Improvements:
Very basic/fair quality ~sixty-eight year old A-Frame with one story addition.
Both are very basic
construction quality with recent addition owner/non contractor built. See Photograph Addendums.
A primitive hunting cabin.
Below Grade Area or Other Area
Living
Dining
Kitchen
Den
Family
Rec.
Bedrms
#Baths
Utility
% Finished
Area Sq.Ft.
Below Grade
Other Area
Summarize below grade and/or other area improvements: N/A
Discuss physical depreciation and functional or external obsolescence: Very basic A-Frame with recent one addition.
Both are very basic
construction quality with recent addition owner/non contractor built. See Photograph Addendums.
A primitive hunting cabin.
Limited
contribution to market value. Very limited road access to subject lot.
No public road frontage except end of public gravel road access
and long easement access off 47 Road.Page 14
Client:
Subject Property:
SITE VALUATION
Site ValuationMethodology
X)sales Comparison Approach: A set of procedures in which a value indication is derived by comparing the property being appraised to similar properties
Client File #;
Appraisal File
#:
TTH Properties LLC C/O Mark Ciolek
2313 N. 47 Road
2025 -TTH Properties
11apr25a 83-2309-23
of the property.
[Dalternative Method: {Describe methodology and rationale)
that have been sold recently, then applying appropriate units of comparison and making adjustments to the sale prices of the comparables based on the
elements of comparison. The sales comparison approach may be used to value improved properties, vacant land, or land being considered as though vacant;
itis the most common and preferred method of land valuation when an adequate supply of comparable sales are available.
(Omarket Extraction: A method of estimating land value in which the depreciated cost of the improvements on the improved property is estimated and
deducted from the total sale price to arrive at an estimated sale price for the land; most effective when the improvements contribute little to the total sale price
Site Valuation
_
=
ITEM
|
SUBJECT
COMPARISON 1
COMPARISON 2
COMPARISON 3
Address 2313 N. 47 Road
W Arnold Rd, Sec 29, Bloomfie | 18 Road, Sec 18, Cedar Creek | 1310 W Fahrney, Sec 2, Pione¢
Manton, Mi 49663
Manton, MI 49663
Manton, Ml 49663
Fife Lake, M] 49633
Proximity to Subject
16.96 miles NE
4.22 miles NW
9.46 miles NE
Data Source/
| MLS#:1923147
MLS#:80012331
MLS#:80007514
Verification
Sales Price
$
$ $225000
$ $215,000
$ $250,000
Price /Acre
$
$0
So
$
$2,143
$
$2688)
$
$2,001
Sale Date
06/2024
12/2023
08/2023
Location
Rural Wexford
Rural Missaukee
Rural Wexford
Rural Missaukee
Site Size
160.00 Acres
105.00 Acres
80.00 Acres
(-}
{124.92 Acres
Site View
Country side
Country side
Country side
Country side
Site Improvements
"as if" vacant
“as if" vacant
"as if" vacant
“as if” vacant
Access
End of Public Rd
| Dirt Road
Dirt Road
Dirt Road
Access
Seasonal Road
| Seasonal Road
Seasonal Road
Seasonal Road
Topography
Rolling/Hilly
Similar
Similar
Similar
Cover
Wooded/Open
Wooded/Open
Wooded/Open
Wooded/Open
Adjcnt State Land
2600 sq Pole/Bunk Hs
Net Adjustment
+
7
1s
of
[+
TT
Is
of
[1+
[Is
0
Net Adj.
0.0%
Net Adj.
0.0%
Net Adj.
0.0%
Indicated Value
Gross Adi.
0.0 %|$
_225000|GrossAdi.
0.0 %|$
215,000
[Gross Adi.
0.0 %|$
250,000
Prior Transfer History
photographs.
superior
to subject but limited data provides for no specific quantitative adjustment.
Typically, the larger the parcel the less the sale price per acre and conversely the smatler the acreage the larger the sale price per acre.
Site Valuation COmMENtS: sates provided sre from NGLR Multiple Listing Service, Paul Bunyan Multiple Listing Service and SWRMIC Mukiple Listing Service. Appraiser has reviewed comparable sales mls data and
Adjustment indicator of (+} indicates the comparable sale was inferior to subject but limited data provides for limited or no specific quantitative adjustment and adjustment indicator of {-) indicates tha comparable sale was
The three typical units of measure are: {1} Value per square foot of per acre. (2) Value per road or lake frontage, (3) Value per “site” value. Unit of measure utilized is value per “acre”,Page 15
i
i
Client:
TTH Properties LLC C/O Mark Ciolek
ClientFile #:
2025 -TTH Properties
Subject Property: | 2313 N. 47 Road
Appraisal File
#:| 11apr25a 83-2309-23
SITE VALUATION
ITEM
SUBJECT
COMPARISON 4
COMPARISON 5
COMPARISON 6
Address 2313 N. 47 Road
7 Mile Rd, Sec 17, Norwich Tw
[32 1/4 Rd, Sec 14, Harring Tw
Manton, Mi 49663
Lake City, MI 49651
Cadiliac, Ml 49601
Proximity to Subject
14.54 miles NE
5.32 miles SW
Data Source!
MLS#:1912123
MLS#:80001020
Verification
Sales Price
$410,000
$160,000
Price
/ Acre
$0]
$2,563
$2,000
Sale Date
06/2023
01/2023
Location
Rural Wexford
Rural Missaukee
Rural Wexford
Site Size
160.00 Acres
160.00 Acres
80.00 Acres
[QO]
Site View
Country side
Country side
Country side
Site Improvements
“as if" vacant
“as if" vacant
“as if" vacant
Access
End of Public Rd
| Asphalt Public Rd
(-) | Dirt Road
Access
Seasonal Road
{Asphalt Public Rd
(-} | Seasonal Road
Topography
Rolling/Hilly
Similar
Similar
Cover
Wooded/Open
Similar
Similar
Adjcnt State Land
Adjcnt State Land
Net Adjustment
=
1
+
TF
ol
[+
[-
ofl
[+
[I
[Net Adj.
0.0%
Net Adj.
0.0%
Net Adj.
%
Indicated Value
_|GrossAdl.
0.0%
410,000]
GrossAdl.
0.0%
160,000 | Gross Adj.
%
Prior Transfer History
Site Valuation Comments:
ITEM
|
SUBJECT
COMPARISON 7
COMPARISONS
COMPARISON 9
Manton, MI 49663
Address 2313 N. 47 Road
Proximity to Subject
Data Source/
Verification
Sales Price
Price / Acre
$0
Sale Date
Location
Rural Wexford
Site Size
160.00 Acres
Site View
Country side
Site Improvements
“as if" vacant
Access
End of Public Rd
Access
Seasonal Road
Topography
Rolling/Hilly
Cover
Wooded/Open
Adjent State Land
Net Adjustment
=
1
+
TF
ol
[+
[TT
ol
[J+
[TFPage 16
Client: TTH Properties LLC C/O Mark Ciolek Client File #: 12025 -TTH Properties Subject Property: | 2313 N. 47 Road Appraisal File #:| 11apr25a 83-2309-23 Cost Approach Definitions . .____ O Reproduction Cost is the estimated cost to construct, at py prices as of the effective appraisal date, an exact dupicats or replica of the building being appraised, using the same materials, construction standards, design, layout, and quality of workmanship, and embodying all of the deficiencies, superadequacies, and obsolescence of the subject building. Replacement Cost is the estimated cost to construct, at current prices as of the effective appraisal date, a building with utility equivalent to the building being appraised, using modern materials and current standards, design and layout. Cost Approach Analysis Estimated Cost New Above Grade Living Area Fair/Basic Quality / Owner constructed 1,005 Sq.Ft. @$ 115.00|=$% 116,575 Finished Below Grade Area Sg.FL@$ =$ Unfinished Below Grade Area Se.FL@$ =3 Other Area Se.FL@$ =$ Car Storage Su.Ft.@$ =$ $ $ $ Total Estimated Cost New $ 116,576 Less Depreciation %=$ Physical & Functional 50.0%=% 57,788 Functional 0.0%=% 0 External 0.0%=§% 0 Total Depreciation %=$ $ 57,788 Depreciated Value of Improvements $ 57,787 Contributory Value of Site Improvements Well, Septic $ 156,000 $ $ $ Opinion of Site Value $ 370,000 Indicated Value $ 442 787 Cost Approach Comments (Data Sources, Depreciation Basis, Site Value, Etc.): Cost estimate via review of Craftsman 2025 National Building Cost Manual, (Valuation Service), local costs & appraiser's professional experience. Modified Economic Age Life Method is basis for depreciation. Estimated site value via review of sold large acreage lots in subject neighborhood. Cost Approach Reconciliation: Cost approach dependent on (1) subject estimated site value vacant and (2) subject dwellings actual remaining economic life. Site value vacant estimate is deemed to be a reasonable/good estimate with five sales utilized to determine value.
Page 17
ADDENDUM Borrower: File No.: 11apr25a 83-2309-23-4101 . Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC | City: Manton State: MI Zip: 49663 Lender; TTH Properties LLC C/O Mark Ciolek SUMMARY REPORT Intended Use : The intended use of our appraisal report is to assist our client in its true cash and/or taxable value dispute to the Board of Review and/or Michigan Tax Tribunal pertaining to the pending 2025 real property tax appeal. Additional Scope of Work Comments The appraisal report is the product of a process of collecting, confirming and then reporting the data. This appraiser has identified the appraisal problem to be determining the market value (true cash value) of a recreational usage property. Subject property is located in Cedar Creek Township, Wexford County. The client and intended user is TTH Properties LLC C/O Mark Ciolek. Other intended users include our client's legal counsel only while serving to assist our client in its real property tax appeal case. The Board of Review and/or Michigan Tax Tribunal is also considered an intended user of our appraisal report. The appraiser has collected information on the subject property, neighborhood, comparable properties and marketing conditions. Collection and confirmation of data is from limited cursory physical viewing of the readily observable, Multiple Listing services data, government agencies with limited research, cost services and a review of marketing trends and conditions. No survey provided. With the exception of international and national marketing trends the majority of the data has been collected from the regional and more especially the local - neighborhood market. The raw data deemed relevant is refined, given consideration and documented in this report. The approaches to value will be direct sales/vacant land and cost value.
Page 18
Client:
mn TTH Properties LLC C/O Mark Ciolek
12025 -TTH Properties
Subject Property:
| 2313 N. 47 Road
11apr25a 83-2309-23
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS
This appraisal is subject to the following assumptions and limiting conditions:
+
This report is prepared using forms developed and copyrighted by the Appraisal Institute. However, the content, analyses, and opinions set forth in this
report are the sole product of the appraiser. The Appraisal Institute is not liable for any of the content, analyses, or opinions set forth herein.
*
No responsibility is assumed for matters legal in character or nature. No opinion is rendered as to title, which is assumed to be good and marketable.
All existing liens, encumbrances, and assessments have been disregarded, unless otherwise noted, and the property is appraised as though free and
clear, having responsible ownership and competent management,
«have examined the property described herein exclusively for the purposes of identification and description of the real property. The objective of our data
collection is to develop an opinion of the highest and best use of the subject property and make meaningful comparisons in the valuation of the property.
The appraiser's observations and reporting of the subject improvements are for the appraisal process and valuation purposes only and should not be
considered as a warranty of any component of the property. This appraisal assumes {unless otherwise specifically stated) that the subject is structurally
sound and afl components are in working condition,
+
| will not be required to give testimony or appear in court because of having made an appraisal of the property in question, unless specific arrangements
to do so have been made in advance, or as otherwise required by law.
~
«Ihave noted in this appraisal report any significant adverse conditions (such as needed repairs, depreciation, the presence of hazardous wastes, toxic
substances, etc.) discovered during the data collection process in performing the appraisal. Unless otherwise stated in this appraisal report,
| have no
knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not fimited to, needed repairs,
deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable,
and have assumed that there are no such conditions and make no guarantees or warranties, express or implied.
| 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
| am not an expert
in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property.
| obtained the
information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable public and/or private sources that
| believe to be true and correct.
«
Fwill not disclose the contents of this appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice, and/or
applicable federal, state or local laws.
+
The Client is the party or parties who engage an appraiser (by employment contract) in a specific assignment, A party receiving a copy of this report
from the client does not, as a consequence, become a party to the appraiser-client relationship. Any person who receives a copy of this appraisal report
as a consequence of disclosure requirements that apply to an appraiser's client, does not become an intended user of this report unless the client
specifically identified them at the time of the assignment. The appraisers written consent and approval must be obtained before this appraisal report can
he conveyed by anyone to the public through advertising, public relations, news, sales, or other media.
«If this valuation conclusion is subject to satisfactory completion, repairs, or alterations, it is assumed that the improvements will be completed competently
and without significant deviation.
Appraiser is assuming that multiple listing provided data is accurate and reliable.
TIMBER CROP, ORCHARD AND MINERAL RIGHTS VALUE:
Appraiser's estimated value for real estate does not necessarily include any value for harvestable timber, vineyard,
grapes/vines/orchard trees/crop or mineral rights. Subject compared with most similar available sales. These sales may or may not
have similar timber cover, vineyard/vines/orchard/crop or mineral rights as subject.
If client requires value estimate for harvestable
timber, orchard/crop or mineral rights they are advised to contact an "expert" in the field of forest husbandry, orchards or mineral
rights.
Noted partial interest.
VALUE DEFINITIONPage 19
| [Client: TTH Properties LLC C/O Mark Ciolek ClientFile #: 2025 -TTH Properties Subject Property: | 2313 N. 47 Road Appraisal File #:| 11apr25a 83-2309-23 Il APPRAISER'S CERTIFICATION 1 certify that, to the best of my knowledge and belief: «The statements of fact contained in this report are true and correct. «The reported analysis, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, unbiased professional analysis, opinions, and conclusions. + Ihave no present (unless specified below) or prospective interest in the property that is the subject of this report, and | have no (unless specified below) personal interest with respect to the parties involved. «Ihave no bias with respect to any 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 the 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 use of this appraisal. + My analysis, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. + Individuals who have provided significant real property appraisal assistance are named below. The specific tasks performed by those named are outlined in the Scope of Work section of this report. None [J Name(s) As previously identified in the Scope of Work section of this report, the signer(s) of this report certify to the inspection of the property that is the subject of this report as follows: Property Inspected by Appraiser Yes 0 No Property Inspected by Co-Appraiser [JYes [J No + Services provided, 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: None Specify services provided: In Michigan, appraisers are required to be licensed/certified and are regulated by the Michigan Department of Licensing and Regulatory Affairs, P.O. Box 30018, Lansing, Michigan 48909. This report is a confidential communication between the appraiser and client. The appraiser is prohibited from discussing the report's content with anyone other than the client. Questions or comments regarding this report should be directed to client. This report should be read in its entirety, including all attachments and addendum. Special attention should be given to the certification and limiting conditions. ADDITIONAL CERTIFICATION FOR APPRAISAL INSTITUTE MEMBERS, CANDIDATES AND PRACTICING AFFILIATES Appraisal Institute Designated Member, Candidate, or Practicing Affiliate Certify: «The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute. * The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. | am a Designated Member of the Appraisal Institute. As of the date of this report, | have completed the continuing education program of the Appraisal Institute. l APPRAISERS SIGNATURES
Page 20
GOVERNMENT FILE CARD - TAX LEGAL Borrower: File No.. TTapr25a 83-2309-23-4101 Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC City. Manton State: MI Zip: 49663 Lender: TTH Properties LLC C/O Mark Ciolek Wexford County, MI Summary Parcel'Number 2309-23-2101 Property Addr 2313N 47RD Legal Deser SE 1/4 SUB TO EASMT L390 P14 '02 160 A. CC, SEC. 23 T23N ROW ~MANTON- (Note: Note: The Description above is not to be used on legal documents.) Tax District 2309 CEDAR CREEK TOWNSHIP School District 83060 MANTON CONSOLIDATED SCHOOLS Property Class 401 RESIDENTIAL IMPROVED Net Acres 160 Total Acres 160 Homestead 100% on 12/09/2016 Neighborhood View Map Owner Owner Mail TTH PROPERTIES LLC TTH PROPLRTIES LLC 11365SMAPLECITYRD 113655 MAPLE CITY RD MAPLE CITY, MI 49664 MAPLE CITY, MI Land LotArea 160.00 Acres Valuatlon Assessed Value Breakdowns SR | NSPS | SE 22 wat 200 2019 $0 50 30 $0 $0 $0 TT $16a400 TT $1a1600 $136000 $137,900 $128,900 $112,300 = Assessed $1640 5141600 $1600 $112,300 Value
Page 21
TTapr25a 83-2309-23-4101 Zip: 49663 Case No.: 2025 -TTH Properties LLC File No. State: MI GOVERNMENT FILE CARD - TAX LEGAL - SALE PRICE (ARMS LENGTH $180,000) farcel umber: on jrantor Grantee Liber rifled ereat, a Lu i Fage y - IAFSTIAD, LCREU7 T14 PROPEPTIES LLC 12/17/2010 5235/2307 PROPERTY TRENSSER 100.6 arty Address Class: RSSIDEKTIAL-THD Daze Nembex status 2 RD School: MANTOK CCNSGLIDATED SCHOCLS 04/23/2624 ~201403 Entered \R.E. 100: 13/12/2016 Qual. Fr. PA 42 men's Name/Address HAZ #: 2021 - GATE LOCKED FUG EROIGREER TAC 2024 Est S,843 TCY/TH Land Value Zstimates for Land Tacle RUS 1.R - RESIDENTIAL tlic * Factozy * Wf “MAPLE CITY MI 42664 INPYovemants Frcntags Depth Fromt Depth Rate "Adi. Value ras 3 Dirt Road 150.0C Acres 2100 20 VERY POOR ACCESS 225,200 Tax Description % Gravel Poad 16G.00 Total Acres Tetal Est. Land Vaiuve = 233,200 38 1/4 S08 wl ne "02 120 2. Faved Read 3 23 T23N ROW ~M3 ~ = 3 Se Selb al Stom Sever Laud Inprovement Cost Estimates = In. 0 Sidewalk Sescription Rate Size » Goed Water weed Frame 28.83 30 a3 Sewer Total Estimated Land irprovements ruc Cash Value = X Eleclzic Topography of Site Level Rolling Low High Landscaped 7110 South Rosinski Road, PO Box 305, Cedar, Michigan 49621 231 633-1104 [><] KS =] &] “etland . le Floz¢ Plain Tear Land Assessed Board oI Tazanla E Value Value Review Value == who Then What 2021 117,500 45,600 184,400 3 o ~~ Di 2023 169,590 1c, 809 141,600 x [5 lizer. Copyright (c! 18932 - 2008. Dy 054 i 5 Suda ~ © Licensed To: Township of Cedar Creek, DN 05/17/2031 ta 3 20 136,202 ~ QS ounty of Wexford, Michigan 2021 21,500 137,209 d (= = o “44 Informavien herein deemsd reliable but not guaranlecd*ss = 12 Ql [B 5 of 1% = o| Io Bex i. = 5I>8- HE O R= =] 5191215 pa Op
Page 22
49663
11apr2ba 83-2309-23-4101
Zip:
Case No0.72025 -TTH Properties LLC
File No.
State” MI
GOVERNMENT FILE CARD - BUILDING INFORMATION
Residential Building
x
of
71
Parcel Number:
§3-2309-23-4101
Printed on
03/20/2025
Buildin
3) Roo? font.
i
17 "Seating
/c ok: 9 {IE Enilt=iny
(15) Filcplaces
7 (i) Forches/becks | (17) Gatage
[RIE
v2
Eaves trough
BIL ,
[les]
|
‘Appliance Aliod
i"
Tinterior
1 Story
Area Type
[Year Bulit:
Mobile Home
H
Insulation
feoar}
istean
|
Sock Top
!
iInterior
2 Story
mw
om—40ar Capacity:
oun. Rows
|
Oirzont Gverhasg
I
{pishwasher
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|
19/R0of Cover Galie),
l.
{Duplex
i
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|
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[Pane
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iadiane ito 2300x)
|
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|
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|
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?
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|
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i
Raised Hezzth
H
§
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Doors:
mr
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;
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H
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|
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|
{Direct-vented Gal
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{area:
;
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:
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-F
{Heat Pump
!
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!
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|Bffec. Age:
82
[EE SR
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ru
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a
9 Total Base New
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RE
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et
irrash Compactor
|I0T3L Pepr Cost: 79,827
X
1.48 fe
:
{1st Floor
H
HEE Electric
{central Vacuum
jEstimated T.C.V: 92,722
iCarport Area:
j Hitchens
100} Aaps Service
{Security System
|
{Root
—
he
i Other:
No./Qual.
of Fixtures
| Cost Est.
for Res. Bldg:
1
Single Family
1 5TY
Cis ¢p
Blt 1970
(1}
Exterior’
:
;
fr
dT
nF
(11)
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Space Heater
{iood7 Shingle
INGE
conn Ground Area = 966 SE
Floor Area = 1110 SE.
PALAOUB/VIRYL
femme
pommel
¥hy/ab.Fhy/Func/Econ/Comb.
2 Good=48/100/160/100/48
{Brick
i
3
Building Areas
¢
{
I.
F stories
Exterior
Foundation
size
cost New Depz. Cost
{Insulation
i
t
i
“Ererag TIRTEE TET {1.25 story
Siding
Slab
576
{2) Wincows
177 Excavation
[ Fixture Bath
i? Story
Siding
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rota
118,220
25,160
args
Savenentt
0
EE
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| Hatez/Sewer
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| Slab: 9€6
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{1000 Gal Septic
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2,199
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|
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1,249
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ving Pay
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1,355
1,213
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79,827
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Floor Support |
BUNRSE
Public Water
Public Sewer
{1
ater Hell
i1 11000 Gal Septic
12000 Gal Septic
amp Sum Items:
7110 South Rosinski Road, PO Box 305, Cedar, Michigan 49621
231 633-1104
Lender: TTH Properties LLC C/O Mark Ciolek
Property Address: 2313 N. 47 Road
Borrower:
City. Manton
i.
Gute. Suns
#%* Information herein deemed reliable but nck guaranteeds+wPage 23
PLAT MAP This Basic County Map consists of the Jurisdictional Boundaries, Roads, Lakes, and Rivers. The "Base Map Data" for this project were provided by Wexford County GIS and the City of Cadillac. NOTE: This GIS data is to be considered a generalized representation which is subject to revisions. The feature boundaries are not to be used to establish legal boundaries. For specific information, contact the appropriate department or agency. This information is provided as a visual representation only and is not intended to be used as a boundary survey or to construct improvements. The attributes of the geographic data may be generalized. If questions or concerns arise, please contact the appropriate department or agency. OITOWer: File No. TTapr25a 83-2309-23-4101 Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC City: Manton State: MI Zip: 49663 Lender: TTH Properties LLC C/O Mark Ciolek Base Map is P: Showing Parcel Lines & Labels, Airport Locations and Interstate Mile Marker A Tl Poe lee v pd : a Lev ny a % | | o 15 o o o | o ©, | o — oF ° [ ° el 1 ° © i 5 ° ° ° | = = ocean = o ° ° — 8 i | o & = o —— o = o ——— a ° ° = In A EC : nil H 2012 Ro. ° BN | o G ofia RD © = = H 6 Ne | 0 . - \ ° a ba i - . , ° 2 o 2 : Sued] ° I El 4 ; | 2309- =) Bolo o | 0 Lo : 2300-234101 . §3 i . . ° 22RD “1 2 i E 22,RD To oo ° — > ; \ © ooooo Fiat idl Ge - i rea SS SESS Bu. o , ° N if | ° ° o o o ° oO), ° —_— @ ad ® Te a & fl g [s75 18 ° 2 3 o 0 Lo = 2 ¥ = . ’ a a = “eo | a Basic County Ma A y P 1500 US Feet N x Lakes and Rivers Municipal Boundary JL Railroads LL Public Roads <) Property Lines
Page 24
AERIAL MAP BOrfower: File No.” TTapr2ba 83-2308-23-4707 Property Address: 2313 N, 47 Road Case No.: 2025 -TTH Properties LLC Cily: Manton Stafer MI Zip: 49663 Lender: TTH Properties LLC C/O Mark Ciolek o "2313 N47 Rd
Page 25
AERIAL MAP Borrower: File No.: TTapr25a 83-2309-23-4701 Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC City: Manton State: MI Zip: 49663 Lender: TTH Properties LLC C/O Mark Ciolek od) Google Earth —
Page 26
TOPOGRAPHY MAPS
Borrower:
File No..
TTapr25a 83-2309-23-4101
Property Address: 2313 N. 47 Road
Case No.: 2025 -TTH Properties LLC
City: Manton
State: MI
Zip: 49663
Lender: TTH Properties LLC C/O Mark Ciolek
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SUBJECT PROPERTY PHOTO ADDENDUM Borrower: File No.: 11apr25a 83-2309-23-4101 Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC City: Manton Prov.: MI P.C.:49663 Lender: TTH Properties LLC C/O Mark Ciolek FRONT VIEW OF SUBJECT PROPERTY Appraised Date: 12/31/24 Appraised Value: $ 443,000 23130147 Rs REAR VIEW OF SUBJECT PROPERTY STREET SCENE
Page 28
SUBJECT PHOTOGRAPHS | Borrower: . File No.: 11apr25a 83-2309-23-4101 Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC City: Manton State: MI Zip: 49663 | Lender: TTH Properties LLC C/O Mark Ciolek | A-FRAME ADDITION / PORCH | UPPER LEVEL NOT IN GLA - LIMITED CEILING HEIGHT A-FRAME ASPHALT SHINGLE - FAIR CONDITION KITCHEN & DINING
Page 29
. SUBJECT PHOTOGRAPHS | Borrower: File No.: 11apr25a 83-2309-23-4101 Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC City: Manton State: MI Zip: 49663 Lender: TTH Properties LLC C/O Mark Ciolek BATH ROOM © m oO pe) [@] o = m Zz = py) 4 [] mm nl nD N pe) o p= oO > Zz m > [2] m =< m Z =|
Page 30
Borrower: File No.: 11apr25a 83-2309-23-4101 Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC City: Manton State: Ml Zip: 49663 Lender: TTH Properties LLC C/O Mark Ciolek COMPARABLE SALE #1 AW esuAmold Ro Ee W Arnold Rd, Manton $2,143 per Acre Sale Date: 06/2024 Sale Price: $ 225,000 COMPARABLE SALE #2 18 Rd, Manton $2,688 per Acre Sale Date: 12/2023 Sale Price: $ 215,000 COMPARABLE SALE #3 1310 W Fahrney, Fife Lake $2,001 per Acre Sale Date: 08/2023
Page 31
Borrower: File No.: 11apr25a 83-2309-23-4101 Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC | City: Manton Prov.: MI P.C..49663 Lender: TTH Properties LLC C/O Mark Ciolek COMPARABLE SALE #4 7 Mile Rd, Lake City $2,563 per Acre Sale Date: 06/2023 Sale Price: $ 410,000 COMPARABLE SALE #5 32 1/4 Rd, Cadillac $2,000 per Acre Sale Date: Sale Price: $ COMPARABLE SALE #6 Sale Date:
Page 32
Comparable Sales - Google Map Borrower: File No.. 11apr25a 83-2309-23-4101 Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC City: Manton State: Mi Zip: 49663 Lender: TTH Properties LLC C/O Mark Ciolek Comparable One Comparable Two W Arnold Rd, Manton 18 Rd, Manton Comparable Three Comparable Four 1310 W Fahrney, Fife Lake 7 Mile Rd, Lake City
Page 33
COMPARABLE SALE ONE MLS SHEET Borrower: File No.: TTapr25a 83-2309-23-4101 Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC City: Manton State: MI Zip: 49663 Lender: TTH Properties LLC C/O Mark Ciolek Sold Report W Arnold Road Manton 49663 Sold / Created S: Class Vacant Lot/Land Sold Price $225,000 TypOwnrshp Private Owner Asking Price $225,000 Commercial NO Original Price $225,000 MLS # 1923147 PrcAcre $2,142.86 County Missaukee Financing OWNFN Township Bloomfleld Seller Concessions No Section # 29 If Yes, $ Amt DevName none Closing Costs # Acres 105.00 Prepaid Lot Dim 1320 1307 653 1314 2042 Repairs Lot# DwnPyAsst Tax ID 002-029.002-00 Other Owner Name Kovacheff List Date 61212024 Close Date 6/3/2024 Pending Date 6/2/2024 Legal: SEC 28 T24N R8W (102000) W 1/2 OF NE 1/4 & W 1/2 OF SE 1/4 OF NE 1/4. 105.71A, Days On Market 1 [oo Body of Water SEV 105,700 Principal Residence Private/Shared Summer Taxes Assessment Front Ft Winter Taxes Annual Assn Dues Lake Size Other Taxes | School District Manton | Year: Summer | Year: Winter Taxable Value Directions: W Arnold Rd. [ WATER FEATURES None WASTE AVAILABLE Private Septic UTILITIES AVAILABLE Electric WATER INSTALLED None ROAD Dirt WASTE INSTALLED Nona LAND FEATURES Wooded ZONING/USE/RESTRICTIONS Residential EXTERIOR FEATURES Countryside View TERMS Land Contract/PMM DEVELOPMENT AMENITIES None DOCUMENTS ON FILE None MINERAL RIGHTS Unknown WATER AVAILABLE Private Well Public Remarks 105 Acres Vacant Land 2, 143/A<
Page 34
COMPARABLE SALE TWO MLS SHEET Borrower: File No.” TTapr25a 83-2309-23-4101 Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC City: Manton State: MI Zip: 49663 Lender: TTH Properties LLC C/O Mark Ciolek me, Vacant Land | For Sale $259,900 Status jun 31) * Closed | - 18 Road | 2 CedarCrkTw [™ Pe ih | ar 49663 Google Map data ©2025 Google & Listing Date 10/19/2023 MLS # 80012331 Original MLS# ~~ 1916914 Activation Date DOM 32 [32 Originating MLS Aspire North REALTORS PROPERTY INFORMTION AND PUBLIC REMARKS FINANCIAL INFORMATION County Wextord Acreage 80.00 Summr Tax Amt 4 Contract Exclusive Right to Sell Municipality Cedar Crook Twp Frontage Summer Tax Yr Ownership Privata Mail City Manton Site Condo Winter Tax Amt Signed Disclr. Style Lot Size 1320x2640 Winter Tax Yr Lease Property ID 2309-18-2401 Total Tax Amt Survey on Flia No Public Remarks Recreations] Paradise. Must walk to tniy appreciate this Total Tax Yr LG Down Pymt spactacular BO acres. Property Is surveyed and steel staked with trals throughout the Pcp Res Expt LC Interest Rate property. Property Is mostly highland but dees features a natural unique bog area, SEV 71100.00 LG Terms Months several potential smal pond areas, and plonty of netural water fo the wildiife. LC Incld T I Wooded with many various mature apple trecs, mature hemlocks, sugar maples, IBY Year 2023 eld Toxsujig lerge areas of ratursl regenerated red pine ond white pine. Exceptonal deer hurting Assoolation Fen LG Monthly Pymt and plenty of wdlife. Fee Amount Assessments Fee Schedule Legal Description SE 1/4 OF FRL NW 1/4 & NE 1/4 OF FRL SW 1/4 --80 A.-- CC. SEC. 18 T23N ROW - MANTON LISTING INFORMATION & SHOWINGS ListAgent 6501205164 Chad AAnderson - 231-645-0065 Agent Hit Count List-Firm ~~ NGL-T326802 Coldwell Banker Schmid-Kalkas - 231-268-8611 Client Hit Count Seller Concessions (Invite) Listing Excaption Showing Instructions. Directions. Take 42 Rd Wost of Manton to South on 39 Rd to West on 18 Rd then Swuth on Easement A 2 / 5 [a gol Agent Remarks FEATURES LOT DESCRIPTION Rolling/Hily, Treed, Wooded WATER None FINANCIAL TERMS Cash, Conventional WATER FEATURES None
Page 35
COMPARABLE SALE THREE MLS SHEET
Borrower:
File No..
TTapr25a 83-2309-23-4707
Property Address: 2313 N. 47 Road
City: Manton
State: MI
Zip: 49663
Lender: TTH Properties LLC C/O Mark Ciolek
MLS #
80007514
List Price
$260,000
Sold Price
$250,000
For Sale
Vacentland
Closed
1
From Lake City, take M-66 approx. 8 miles to Phelps Rd., turn loft ®
approx, 4 miles to Dutch John Rd., turn right {E) and go 't mile to
Eahrmavs Dal turn rinht 2nd an 9 & milne taba s Inf at Uarasan 1 ana nn 7
County
Missaukee
Sewer
Seplic
Acres
124.92
Area (Municipality) Pioneer Twp (57011)
Viater
Private Well
Frontage
School District
Lake City Area School District
Site Condo
Lot Size
Irregular
Subdivision
Nona
Sm
Property ID
011-002-001-25
Short Sale
Summer Tax /Yr
Ownership
Private
Homestead
No
Winter Tax /Yr
3742.43
2022
Assessments
Total Tax Yr
4977.20
Legal Description SEG 2 T24N R7W NE FRL 1/4 EXC NW FRL 1/4 THOF 123.72A
ting Agent
6502410127
Tamara McLeod Helsel - Cell: 231-920-8422
Soller Concessions
ns (invite)
tamarag@city2shore.com
Listing Firm
~~ NGL-T410128 ~~ Gily2Shore Reel Estate Northern Michigan - 231-839-0077
List Date
87/2023
DOM
48
|
48
Activation Date
Contract
Exclusive Right to Sell
Qriginal Price
$250,000
LC #Months
Pending Date
7/25/2023
Prico Par Acre
Full Service Listing
LC Down Pmt
Closing Date
81912023
Sold § Per Acre
Protection Poriod
LC Interest Rate
BOM Date
Off Market Date
~~ 7/26/2023
Listing Exception
LC Incl Taxes/Ins
MAE
EE
Public Rer
Remarks HUNTERS CAMP PARADISE, OFF THE GRID, GREAT HUNTING SUCCESS OVER MANY YEARS, Just 3 miles south of beautiful Manistee River.
Arare 125 acre piece of Northern Michigan wild land, absolutely ideal for the supreme whitetall, turkey, small game or mushroom enthusiasts. A
rustio camp welcames you but with same modem conveniences, the large military generator runs electric for the camp (an additional parts generator
on site), Water is provided by the 4 inch well and there is a septic drain field system. The bunkhouse (located on one end of the large pole bam (52'
x 50') has a living/sleeping room, kitchen and bath area with screened porch. You will find ihe block basement for the log cabin (62' x 18" vith a
bump out far a garage) has been staried, the cabin plans are located in additional docs. There are many items that have already been purchased to
finished the cabin, full logs, viood slabs, some trusts, flooring product, windows and doors, In addition, there is a a 8 x 6 shed and a 60 x 16 lien-lo
Case No.: 2025 -TTH Properties LLCPage 36
COMPARABLE SALE FOUR MLS SHEET Legal: Days On Market ~~ 2 Borrower: File No.. TTapr25a 83-2309-23-4701 Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC City: Manton State: MI Zip: 49663 Lender: TTH Properties LLC C/O Mark Ciolek | | ¢- | Sofd Report 0 7 Mile Road Lake City 49651 Sold In House Class Vacant LotLend Sold Price $410,000 TypOanrshp Private Owner Asking Price $410,000 Commercial NO Qriginal Price $410,000 MLS # 1912123 PreAcre $2,562.50 Gounty Missaukee Financing CASH Township ~~ Norwich Seller Concessions No Section # 17 If Yes, $ Amt | DevNeme none Closing Costs | # Acres 160.00 Prepaid | LotDim 2700x2600 Repairs Lot# DwnPyAsst Tax ID 010-067-006-00 Other Owner Name Turner Ust Date 6/10/2023 Close Date 6/12i2023 Pending Date 6/9/2023 | SEC 17 T24N R6W SW 1/4, 160A. [oooe Body of Waler Private/Shared | Front Ft | Lake Size School District LakeGity SEV 124,800 Summer Taxes Winler Taxes Olher Taxes Year: Summer Year: Winter Texable Value Principal Residence Assessment Annual Assn Dues Directions: M-55 North to 7 Mile Rd. Property on the East side of the road. WATER FEATURES None UTILITIES AVAILABLE Elactric ROAD Public Maintained, Blacktop LAND FEATURES Rolling, Hardwoods, Wooded, Evergreens EXTERIOR FEATURES Countryside View DEVELOPMENT AMENITIES None MINERAL RIGHTS Unknown WATER AVAILABLE Private Well Public Remarks Nice wooded 160 Acres Narth of Lake City. WASTE AVAILABLE Private Septic WATER INSTALLED None WASTE INSTALLED None ZONING/USE/RESTRICTIONS Metes and Bounds TERMS Cash DOCUMENTS ON FILE None
Page 37
COMPARABLE SALE FIVE MLS SHEET Borrower: File No.. TTapr25a 83-2309-23-4707 Property Address: 2373 N. 47 Road Case No.: 2025 -TTH Properties LLC City. Manton State: MI Zip: 49663 Lender: TTH Properties LLC C/O Mark Ciolek (-% ET — Vacant Land igh For Sale $169,900 Status ® Closed 00 32 1/4 Road Kenvrood HaringTwp Cae Heritage 49601 Map data ©2025 Google & Listing Dato 10/2/2022 MLS # 80001020 Original MLS# ~~ 1905487 Activation Date DOM 9 / 09 Originating MLS Aspire North REALTORS PROPERTY INFORMTION AND PUBLIC REMARKS FINANCIAL INFORMATION County Wexford Acreage 80.00 Summr Tax Amt Contract Exclusive Right to Sell Municipality Haring Twp Frontage Summer Tax Yr Ovwnership Private Mail City Cadilac Site Condo ‘Winter Tax Amt Signed Discir. Style Lot Size 1320x2340 Winter Tax Yr Lease Property ID 2209-14-4201 Total Tax Amt Survoy on File Publlo Remarks Surrounded by public land on 3 sides, this 80 acre parcel is a rare Total Tax Yr LC Down Pymt findll With hilltop views for mies and miles, this wou'd meke an awesome hunting Prncp Res Expt LC Interest Rate camp or building sitel Located just a few miles from Cadilac's north end, but also SEV 63200.00 LC Terms Months very remote and privatel The saler has already cleared a section of the property on EV dT: a op ofthe hill Surrounded by ORV trails, smal fishing lekes, ths Is the perfect UP Su Year. aa Lobald Bailing NORTH property! End'ess fun with side by sides, snowmobiles, hiding, fishing, Association Fee LG Monthly Pymt hunting etc! Hunting blinds do nol slay with the propsity, but are avaiable for $500 Fee Amount Assessments per blind, Fee Schedule Legal Description W 1/2 OF SE 1/4 80 A. HAR. SEC. 14 T22N RO -CAPS- https:/ 1900 g/maps/Hba7VecThiNpcKJd google link to directions LISTING INFORMATION & SHOWINGS ListAgent 6501325841 Jaimie Fellows-Gaino - Coli: 231-920-6817 Agent Hit Count List-Firm ~~ NGL-T410128 City2Shore Rea! Estate Northern Michigan - 231-838-0077 Client Hit Count Seller Concessions (invite) Listing Exception Showing Instructions Directions fest drivo on left. White barn gate. hitps//goo.gVmaps/Hba7VecThiNackwJ9 Agent Remarks No sign, by zppointment ony with an agent. Easy Offer Folder hitos./vwvew.dolloop.com/my/loop/p/BQdzindbCOOV=F5ID3 pA” GC ooo Po NA = Joo Ae. Eas on E Boon Rd. , N on Seeley Road, loft on dit Seeley Road as the pavement turns. AtY tum left on 30 3! Rd go by 47 1/4 Rd to two frack until the T, tum right FEATURES LOT DESCRIPTION Wooded WATER None FINANCIAL TERMS Cash, Conventional WATER FEATURES None
Page 38
LOCATION MAP
Borrower:
File No..
11apr25a 83-2309-23-4701
Property Address: 2313 N. 47 Road
Case No.: 2025 -TTH Properties LLC
City: Manton
State: MI
Zip: 49663
Lender; TTH Properties LLC C/O Mark Ciolek
id
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Comparable Land 3
1
1310 W Fahmey, Sec 2, Pioneer
|
Fife Lake, MI 49633
:
9.46 miles NE
Kingsley
Comparable Land 2
|
18 Road, Sec 18, Cedar Creek
|
Manton, MI 49663
|
4.22 miles NW
dl
Manton, MI 49663
Yuma
Harrletta
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Comparable Land 5
32 1/4 Rd, Sec 14, Haming Tw
Cadillac, MI 49601
C 5.32 miles SW
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|
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| |
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Comparable Land 4
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Ne
7 Mile Rd, Sec 17, Nonwich Tw
|
=
Lake City, MI 49651
|
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14.54 miles NE
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2Page 39
2025 -TTH Properties
QUALIFICATIONS
File No.
1
1apr26a 83-2309-23
Certified General Real Estate Appraiser /f 1.D. No. 1205000030
Business affiliation: Michael L. Sheridan & Associates, Inc., 7410 South Rosinski Road, Cedar, Michigan 49621
Life Experience: United States Navy, (1969-1973)
Education: B.A., History, Michigan State University, 1976.
B.S., Business Administration, Ferris State College, 1981. GRE: Graduate, Realtors Institute,
1981.
Professional Affiliations: Aspire North Realtors, Northern Michigan Multiple Listing Service, National & State of Michigan Board of Realtors and SRA
member of the Appraisal Institute.
Real estate and appraisal courses andlor seminars, including American Institute & Appraisal Institute of Real Estate Appraisers courses completed.
Real Estate Appraisal principles, (1A), 1983.
Standards of Professional Practice, (083); 1983. Standards of Professional Practice, (410 & 420), 1895. Standards of professional Practice, Part C. (430),
2002. National USPAP Update Course, (400), 2004. 7-Hour National USPAP Update Course, 2007; 2009; 2011; 2013, 2014, 2016, 2019, 2021 & 2023.
Residential Valuation, (082), 1985.
Capitalization Theory and Technique Part A and Part B, {1BA & 1BB), 1991.
Basic Valuation Procedure, (1 A2), 1991.
The High-Tech Appraisal Office, 1997. The Internet and Appraising, 1997.
Appraising from Blueprints and Specifications, 1998.
Appraising Manufactured Housing, 1998. Appraising Manufactured Housing, Seminar. 2004. Appraisal of Manufactured Homes, Featuring Next-Generation
Manufactured Homes, 2019.
Appraisal Office Management: Making Your Business Profitable, 1999.
Appraisal of Nonconforming Uses, 2000.
Conservation Development and its Effect on Market Value and Profit, 2000. Valuation of Conservation Easements, (797), 2008.
Partial Interest Valuation-Divided, 2000. Partial Interest Valuation-Undivided, 2000.
FHA Appraisal Inspection - From the Ground Up, 2000. Introduction to FHA Appraising, 2008. The FHAIVA Appraiser: Thriving & Surviving, 2013. FHA
Appraising for Valuation Professionals: FHA Single Family Housing Appraisal Requirements, 2016. FHA HUD Update 2018.
Residential Consulting, 2000.
Serving the Client: The Application and Use of the Streamlined Appraisal Process, 2000.
Appraisal Review-Residential, 2001.
Reviewing Residential Appraisal Reports, 2007.
Review Theory - Residential, 2014. Appraisal Review of Residential
Properties, 2019.
Income of Small, Mixed-Use Properties, (SE600), 2001.
Separating Real & Personal Property from Intangible Business Assets, (SE800), 2003.
Evaluating Residential Construction, 2004.
Appraising Convenience Stores, 2005.
Professional's Guide to the Uniform Residential Appraisal Report, 2005.
What clients would fike their appraisers to know, 2006. The Lending World in Crisis-What Clients Need Their Appraisers to Know Today, 2012.
Al Reports (TM): The New appraisal report option, 2006.
Residential Site Valuation and Cost Approach, 2007.
Business Practices and Ethics, 2007, 2012, 2023, 2025.
"REO Appraisal: Appraisal of Residential Property Foreclosure", 2008. REO and Short Sale Appraisal Guidelines, 2011. REO Appraisal: Guildlines and
Best Practices, 2017.
The New Residential Market Conditions Form Seminar, 2009.
Appraisal Curriculum Overview (1-Day Residential).
Preparing Appraisals for Michigan Tax Tribunal Appeals, 2009.
Contemporary Topics for Appraiser Involving the MI Tax Tribunal, 2013.
Valuation of Green Residential Properties, 2010.
The Appraiser as an Expert Witness: Preparation & Testimony, 2010.
The Uniform Appraisal Dataset and other changes with Fannie Mae & Freddie Mac, 2011. UAD Aftereffects: Efficiency vs. Obligation, 2013.
Uniform Appraisal Standards for Federal Land Acquisitions, 2015. (Yellow Book).Page 40
2025 -TTH Properties QUALIFICATIONS & CERTIFICATION File No. 11apr25a 83-2309-23 Square Footage- Method for Calculation: ANSI 2765-2021, 2022. Valuation Overview of Accessory Dwelling Units, 2022. Appraising vs. Assessing, 2022. Real Estate Finance, Statistics, and Valuation Modeling. UAD Redesign, 2023. Regulatory and Policy Update, 2023. How to Appraise Solar Panels, 2024. Appraiser elLearning.com. Impact of Short Term-Rentals (On Real Property Valuations), 2024 Appraisal Clients: (1) Financial Institutions, Banks, Savings & Loans, Credit Unions, Mortgage Companies, Fannie Mae, GSFC, Trust Departments. (2) Probate Court, County, City & Townships governments, Department of Interior. (3) Attorneys. (4) Township Assessment & Michigan Tax Tribunal Appeals. (5) Miscellaneous appraisals. Property owners, sellers & buyers. Estates, Trusts, Divorce. Partial interest. Partial interest divided. Conservation easements. Retrospective appraisals. ~04717/2025,
Page 41
CERTIFIED GENERAL REAL ESTATE APPRAISER LICENSE Borrower: File No.: TTapr25a 83-2309-23-4101 Property Address: 2313 N. 47 Road Case No.: 2025 -TTH Properties LLC City: Manton State: MI Zip: 49663 Lender: TTH Properties LLC C/O Mark Ciolek GRETCHEN WHITHER SOIEREOR STATE OF MICHIGAN DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS BUREAU OF PROFESSIONAL LICENSING CERTIFIED GENERAL REAL ESTATE APPRAISER LICENSE MICHAEL LYLE SHERIDAN BR 85/51/3085 I FERRE @ @) “
Page 42
JARMAN 7019 0?00 0OO1 29k4 3737 Michigan 44 ( Lil W. Otta Yo. Poe 2022 [dns MT