DESCRIPTION OF SUBJECT IMPROVEMENTS AND ANALYSIS
The subject property is improved with a three-story apartment building containing 12,474
square feet of gross living area. Of the 27 units in the building all are one bedroom/one
bathroom. The structure was built and occupied in 1978 indicating an actual age of 22 years.
It is currently being used as an apartment building, and there are no potential alternative
uses. The overall construction quality of the structure and building materials are average.
Based on public records in the tax assessor’s office, there is no record of remodeling or
additions to the building from the time of construction until the present.
The subject building was constructed at a time when resource and energy conservation was
not a factor in operating cost. Typical building insulation consisted of batt insulation in the
roof system, and dead air space in the exterior masonry walls. While the subject's energy
efficiency is somewhat less than newly constructed buildings, it is very similar to other
apartment buildings in the Auburn area.
Based on inspection notes, basic construction detail includes:
Exterior Description
Substructure
The substructure appears to be in satisfactory condition.
There was no evidence of cracking in the exterior or interior
walls, and the floor appeared to be level.
Footings
Continuous reinforced concrete
Foundation wall
CMU, Concrete Masonry Unit
Floor
Reinforced concrete slab
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DESCRIPTION OF SUBJECT IMPROVEMENTS AND ANALYSIS
Superstructure
Framing
Load bearing masonry (concrete block) exterior walls. The
exterior walls are common brick masonry, and the interior
side of the exterior walls are painted common concrete block.
Insulation
Rigid insulation in built-up roof system, and dead air space
between masonry exterior walls.
Ventilation
Ventilation is through the HVAC system and bathroom
vents.
Exterior Walls
See framing
Exterior Doors
Each unit has a metal entrance door in an anodized frame.
Windows
Double hung with single glazing in anodized aluminum
frame. Windows and frames are in average condition.
Roof System
Wood frame roof system with plywood deck. Roof cover is
composition shingle over batt insulation.
Drainage is
supplied through metal gutters and downspouts. The age of
the roof cover is estimated to be 4 years.
Interior Description
Division of space
The subject property contains a total of 27 rooms with 9 units
per floor. The units consist of four rooms, 1 kitchen/living
room, 1 bedroom, 1 walk-in closet, and 1 bathroom. Each
unit has 462 square feet of living area.
Interior walls
Interior partition wall are wood stud frame, and sheetrock.
DESCRIPTION OF SUBJECT IMPROVEMENTS AND ANALYSIS
Doors
Interior doors are hollow core wood. Doors are in average
condition.
Ceilings:
Acoustic tile laid in suspended metal support system.
Floor covering
The kitchen and bathroom vinyl sheeting. The living and
bedroom areas are padded carpet. The effective age of this
component is 4 years.
Wall covering
The frame wall covering includes a painted sheetrock and
some tenant added wall paper. The wall finish is in average
condition and its age is 4 years.
Moldings
None
Equipment and mechanical
Plumbing system
There is 1 bathroom per unit consisting of three fixtures, a
commode, shower/bath, and vanity. The kitchen contains one
double sink. The plumbing pipe systems is one half inch
copper pipe. The fixtures are in average condition.
Hot water is supplied with 1, 40 gallon electric hot water
heater per unit. The hot water heaters appear to be in average
condition.
The entire complex has a central meter. There are no
individual water meters for each unit. The addition of such
meters is not considered feasible due to the installation of
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DESCRIPTION OF SUBJECT IMPROVEMENTS AND ANALYSIS
plumbing through the masonry wall system. This item is
considered a functional deficiency.
HVAC System
The heating and air condition system consist of an individual
pad mounted A/C systems with electric heat and air
conditioning with a central duct system. The HVAC system
has been well maintained and considered to be in average
condition. Their age is estimated to be 19 years.
Electrical system
Electricity is supplied through a 200 amp, 2 phase, 240 volt
system, with copper wiring through flexible conduit system.
Interior lighting consist of surface mounted florescent light
fixtures in all areas.
Appliances:
Each unit contains a Range/oven, dishwasher, and frost-free
refrigerator.
The building layout is such that it can be used only as a multi-family dwelling. The size,
design, quality, condition, and layout of the building is functionally adequate, and generally
meets market standards, with exception of master-metered water.
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TAX AND ASSESSMENT ANALYSIS
The subject parcel is under the taxing authority of the Lee County Tax Assessor's Office and
is found on the tax rolls as:
Owner:
Dewey Cheatum
200 Main St.
Auburn, Alabama 36830
Parcel I.D. #:
09-09-30-4-000-000.000
Value by Income:
$445,300
Annual Tax:
$4,809.24
The tax rate in Lee County, City of Auburn, for commercial property is $54.00 per $1,000
of assessed value with an assessment ratio of 20% of appraised value.
Ad valorem tax assessments in Lee County, like all counties in Alabama, are revaluated
every 5-6 years. The last revaluation for Lee County was completed in 1999. Overall, the
most recent revaluation resulted in some significant change from previous assessment values
for the majority of commercial property. In general, commercial property values are
gradually increasing, and will most likely result in higher ad valorem tax assessments from
the following revaluations. The taxes as reported are likely to stay stable for the next several
years.
In order to determine the appropriateness of the subject's tax value and taxes charged,
several comparable properties are reviewed.
Ad valorem Tax Analysis
Property
Year Built
Subject
1978
Byrd II
1984
Dubose
1984
Kingsport
1978
Lenox
1984
Peachtree
1982
Thunderbird
1976
No. Units
27
20
16
48
16
54
44
Total Tax
$4,809
$4,549
$3,751
$8,112
$3,640
$9,620
$7,043
Tax/Unit
$178
$227
$234
$169
$227
$178
$160
Based on this comparison, the subject's tax rate for 1999 at $178 per unit is reasonable, and
equitable with similar apartment buildings in Auburn. There is a special tax assessment on
rental property in the City of Auburn. This rental tax affects the subject property. The tax is
equal to 2% of the Effective Gross Income of the property.