MERRELL NYS COST MANUAL by BILL C. MERRELL, Ph.D. effective through 6-15-16
New York State Cost Manual for Appraisers Updated ---Valid until 6-15-16 -- This cost manual is only for New York State. All rights reserved. Fifteen years to date in operation for this statistical web site for my appraisal students. I am pleased to make this available to my licensed and certified Appraisal Students in New York State at no cost to the NYS Appraiser who is a student of mine. There is no cost for my students to use this data service.
Multiplier Section as follows:
(You may print this and reference it!-not for resale- for educational use only!)
As we know there are differences in costs throughout the State of New York- This is a reference guide which has been derived by a sampling of buildings throughout New York State. The information is believed reliable, however is subject to strict interpretation as to knowledge of the neighborhood, style and quality of the home being appraised. We recommend you use this in conjunction with a second data source to compare both figures to calculate the replacement cost of the subject you are appraising. When using the figures in this guide- multiply the figure by this multiplier based upon the county you are appraising as follows: RESIDENTIAL FIGURES ONLY!!)
NASSAU- 108% SUFFOLK- 109%
QUEENS- 102% BRONX- 101%
BROOKLYN- 103% MANHATTAN- 115%
YONKERS- 104% ORANGE- .975%
WESTCHESTER- 104% SOUTHERN; 101% IN NORTHERN
STATEN ISLAND- 105%
ROCKLAND- 98% PUTNAM- 97%
REMOTE LOCATION ADD 10.5%, FLOOD ZONE ADD 6.5%, DETACHED GARAGES- ADD 3.5% TO GARAGE VALUE
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-------------------------PROPERTY CLASSIFICATION-------------
A GROUP PROPERTIES EXCELLENT- SUPERIOR QUALITY
B GROUP- GOOD QUALITY
C GROUP- AVERAGE QUALITY
D GROUP- AFFORDABLE HOUSING QUALITY
E GROUP- OLDER HABITABLE HOME WITH NEED OF RENOVATION
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EACH SECTION IS LISTED WITH PRICES FOR THIS GEOGRAPHIC REGION
---------------------------------A GROUP HOMES---------------------------
LIVING AREA COST PER SQUARE FOOT 106-152
AVERAGE 129
GARAGE AREA COST PER SQUARE FOOT 51-72
AVERAGE 60
BASEMENT COST PER SQUARE FOOT 11-22
AVERAGE 15
---------------------------------B GROUP HOMES---------------------------
LIVING AREA COST PER SQUARE FOOT 88-127
AVERAGE 101
GARAGE AREA COST PER SQUARE FOOT 37-57
AVERAGE 53
BASEMENT COST PER SQUARE FOOT 9-17
AVERAGE 12
---------------------------------C GROUP HOMES---------------------------
LIVING AREA COST PER SQUARE FOOT 74-106
AVERAGE 86
GARAGE AREA COST PER SQUARE FOOT 30-46
AVERAGE 40
BASEMENT COST PER SQUARE FOOT 7-11
AVERAGE 10
---------------------------------D GROUP HOMES---------------------------
LIVING AREA COST PER SQUARE FOOT 67-97
AVERAGE 82
GARAGE AREA COST PER SQUARE FOOT 24-42
AVERAGE 33
BASEMENT COST PER SQUARE FOOT 6-11
AVERAGE 7
---------------------------------E GROUP HOMES---------------------------
LIVING AREA COST PER SQUARE FOOT 58-84
AVERAGE 77
GARAGE AREA COST PER SQUARE FOOT 20-37
AVERAGE 26
BASEMENT COST PER SQUARE FOOT 5-10
AVERAGE 7 WITH CONCRETE 4 WITH NO POURED FLOOR ie.-DIRT FLOOR
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other web sites of interest you may wish to visit-
Started Compiling Data in 2000 ~ Updated Annually for Appraisers who are students of the Merrell Institute Only
Only Students of Bill C. Merrell, Ph.D. may use this data free of charge
COPYRIGHT Bill C. Merrell, Ph.D.- ALL RIGHTS RESERVED-
www.merrelleducation.com