APPRAISAL REPORT

PICTURE OF PROPERTY

APRSL
2021-01

Requested by:
Ms. ___________________________
Co –owner of property

CESSON Real Estate Business Center, #2 Champaca Street corner East Drive, Marikina Heights, Marikina City
 APPRAISAL REPORT
SUBJECT PROPERTY
● Property Type
● Purpose of this appraisal
● Address
● Definition of Fair Market Value
● Property rights to be appraised
● Party requesting appraisal
● Registered owner per TCT
● Inspection date
● Valuation date
● Appraiser
SUBJECT PROPERTY INFORMATION
CESSON Real Estate Business Center, #2 Champaca Street corner East Drive, Marikina Heights, Marikina City
Residential house and lot
Fair market value determination at the time of inspection
to be used as reference
No. ____________________ Subdivision, Pulang Lupa, Las
Pinas, Metro Manila
Fair Market Value is defined as the most probable price in cash,
terms equivalent to cash or in other precisely revealed terms,
for which the appraised property will sell in a competitive
market under all conditions requisite of fair sale, with the buyer
and seller each acting prudently, knowledgeably and for self-
interest and assuming that neither is under pressure to buy nor
to sell
Fee simple interest
April 16, 2021
April 16, 2021
Cesar E. Santos - licensed realty appraiser
For : CESSON Appraisal Corporation
 Per Transfer Certificate of Title

● TCT Number
● Register of Deeds Province of Rizal now Las Pinas
● Lot number / Block number
● Survey No. (LRC) Pcs-
● Serial Number
● Registered Owners
● Lot area 264 square meters
● Date registered August 12, 1975
● Encumbrances Not included in this report, If any
● Street Frontage 13.35 meters
● Shape Almost rectangular shape

Per Tax Declaration for the lot component

● Tax Declaration Number

● Control Number 10635
● Property Identification Number
● Owner
● Lot number / Block number

● Location of the Property

Las Pinas City, Metro Manila
● Lot Area 264 sqm
● Classification Residential
● Actual Use Residential

Per Tax Declaration for the improvement

CESSON Real Estate Business Center, #2 Champaca Street corner East Drive, Marikina Heights, Marikina City
 ● Tax Declaration Number
● Control Number
● Property Identification Number
● Owner
● Kind of improvement Residential house
● Floor area per tax declaration 44 sqm ONLY
● Classification Residential
Residential house of one of the seven
● Actual Use heirs

PER OCULAR INSPECTION ( just viewed from the outside)

Physical characteristic of the lot

 Shape – rectangle ( about 19m. x 13m.)
 Flat terrain and at grade with street level
THE LOT  Fronting Aurora Drive, Vergonville Subdivision
 Coordinates for exact location on earth and easy
identification
Latitude - 14.461457 Longitude – 120.980376
 Not prone to flooding according to residents in the area

FROM THE OUTSIDE

 Two-storey residential house with covered car garage
 From the outside, the building is fairly maintained
 Reinforced concrete building secured by concrete fence and
steel gate
 Apparently, being used as personal residence of one of the
heirs; with rooms for rent signage – mixed-use
 Estimated depreciated value of the improvement
THE HOUSE Floor Area about 224sqm @ P15k - P 3,360,000.00
Car garage about 30sqm @ P10k - 300,000.00
Depreciated value of the improvement - P 3,660,000.00

LIMITING CONDITION:
 Estimate of house floor area is based on actual inspection
from the outside appearance and from google earth floor
area computation.

LOCATION  The subject property is in the midst of Las Pinas’ high

CESSON Real Estate Business Center, #2 Champaca Street corner East Drive, Marikina Heights, Marikina City
 density area – the Brgy. Pulang Lupa Dos.
 Property address : No. 80 Aurora Drive, Vergonville
Subdivision, Brgy. Pulang Lupa 2, Las Pinas, City, Metro
Manila
 Location is one of the best economic characteristic of the
ACCESSIBILITY
property due to area’s population, with high commercial
potential being along main transportation route of
And
Vergonville and just few steps from the subdivision’s
NOTABLE commercial area where some notable improvements and
IMPROVEMENTS businesses are present like:
 Puregold, Alfa Mart of SM, other commercial
lessees
 Barangay Hall of Pulang Lupa 2, Las Pinas National
High School, Vergonville Elementary School, Las
Pinas Montessori, Good Shepherd Parish Church

 Commercial developments along CP Garcia ( C-5) where All

Home of Manny Villar is the anchor tenant for commercial
activities in the area
NOTABLE IMPROVEMENT  The Alabang-Zapote Road area where Star Mall is located
and near entrance of Manuela 1 Subdivision – also the entrance
DEVELOPMENT and exit road leading to property or Alabang or Cavitex
at nearby areas  Other notable improvements in the area:
 Golden Haven Memorial Park along CP Garcia (C-5)
 A. Zarate General Hospital

 The subject property is accessible via -

 SLEX-Alabang-Zapote Road, or
HOW TO GET THERE  Cavitex – the fastest route to Manila and NLEX
 NAIA via Cavitex or CP Garcia-Sukat Road

 Water, power, public transportation, communication are

available in the area
UTILITIES  Concrete roads with underground drainage, concrete sidewalks
and  Schools, police and fire department are few meters away
COMMUNITY  Near the government center of Brgy. Pulang Lupa 2
FACILITIES  Commercial developments, private and government offices are
all accessible

 To define, Highest and Best Use is a principle of value, which

states, that each property has at least one single, legal use that
gives or yields its highest or greatest value. Thus, it must meet
HIGHEST AND and satisfy all four (4) criteria: physically possible, legally
BEST USE permissible, financially feasible, and maximally justified.
OF THE LAND
 Being along a commercial road, a mixed-use of residential and
commercial or a dormitory can be the highest and best-use of
the land

CESSON Real Estate Business Center, #2 Champaca Street corner East Drive, Marikina Heights, Marikina City
 Positive Factors
 Location and accessibility
 Commercial potential
 Shape of the lot
 Not prone to flooding
MARKETABILITY
Negative Factor
 Subject to estate tax – registered owners are dead already
 Subject to Section 4 Rule 74 of the Rules of Court when
extra-judicially or judicially settled – an encumbrance on
the property

THE APPRAISAL PROCESS OR METHODOLOGY USED

Market Data or Sales Comparison Approach

 We used the principle of substitution in valuing the land. It means that the value of a
property being appraised is dictated by the cost of getting another equally desirable
property in the same area with the same uses or utility plus or minus adjustments to
comparable properties. The property with the very least adjustment is the best
comparable.

 Cost Approach is used to determine the depreciated value of the improvement. Land
value is added to the depreciated value of the improvement to arrive at the market value
of land and building.

BIR ZONAL VALUE of Vergonville Subdivision Las Pinas as of April 9, 2021

 Residential regular - - P17,000.00 per sqm

 Commercial regular - 23,000.00 per sqm

Estimated land value based on zonal value

 Actual use of the property is residential, however, it has commercial potential
 In view of this, we used weight at 50-50 for the 2 zonal values
 Weighted BIR zonal value at 50-50 ratio is : (P17K + P23K) / 2 = P20K/sqm

ASSUMED MARKET VALUE (based on zonal value)

 P20,000.00 / 70% = P28,571.00 rounded to P28,500.00/sqm as of April 16, 2021

 This appraiser is a member of BIR Technical Committee for Region 7 that covers 4 districts
of Quezon City, San Juan, Mandaluyong, Pasig, RDO 45 (Marikina, Montalban, San Mateo,
Antipolo, Teresa) and RDO 46 of Cainta that covers all municipalities of Rizal for no less
than 10 years

CESSON Real Estate Business Center, #2 Champaca Street corner East Drive, Marikina Heights, Marikina City
 MARKET DATA : Source : Internet
NOTE : No actual inspection on these comparables and just being used to get the MODE
(statistics) of asking prices of properties in the area of Pulang Lupa 2.

FOR SALE :
 VACANT RESIDENTIAL LOT AT BRGY. PULANG LUPA 2
 Lot area - 197 sqm
 Located within Las Pinas Royal Estate
 Asking Price – P28K per sqm
 Source : Lamudi / Fred Gomez - agent

FOR SALE :
 VACANT RESIDENTIAL LOT AT BRGY. PULANG LUPA 2
 Lot area - 259 sqm
 Located within Brgy Pulang Lupa 2
 Asking Price – P27K per sqm
 Source : Lamudi / Josephine Linda – agent

FOR SALE :
 VACANT RESIDENTIAL LOT AT BRGY. PULANG LUPA 2
 Lot area - 216 sqm ( foreclosed property)
 Located within Villa Isabelita, Brgy Pulang Lupa 2
 Asking Price – P7,234,000.00 or P33,490.00/sqm
 Source : Lamudi / Josephine Linda – agent

FOR SALE :
 House and Lot ( brand new)
 Features - 3sty. 5 bedrooms 2 car garage
 Lot area - 96sqm Floor area – 240 sqm Garage – 60sqm
 Location – No. 21 Mariposa Street, Dona Manuela Subd. Pulang Lupa 2
 Asking Price – P12,000,000.00 ( Lot component – no less than P35K/sqm)
 Source - Dot Property

CESSON Real Estate Business Center, #2 Champaca Street corner East Drive, Marikina Heights, Marikina City
 COMPUTATION OF FINAL ESTIMATE OF VALUE

OUR VALUE WERE BASED ON THE FOLLOWING OBSERVATIONS:

 Location, accessibility and economic potential of the property
 BIR zonal value estimated by 3 estimators of value from BIR, Assessor’s Office and from
private appraisers as adjusted
 And this appraiser’s personal opinion also based on observation apart from the above
considerations

BASED ON THE FOREGOING, we estimated the MARKET VALUE of the subject property with lot
area of 264 sqm and improved by a a 2-storey residential house as follows:

MARKET VALUE ( as of April 16,2021)

 For the lot ( 264 sqm @ P30,000.00 per sqm ) - P 7,920,000.00
 Depreciated value of the residential house - 3,660,000.00
 TOTAL ESTIMATED VALUE - P11,580,000.00

Eleven Million Five Hundred Eighty Thousand Pesos

Philippine Currency, as of April 16,2021

ASSUMPTION AND LIMITING CONDITIONS

 Information taken from fellow brokers thru ads at the internet are analyzed and
assumed correct;

 No actual inspection of the comparables was made and just seen in the internet as
advertised, purpose of which is to get the MODE of asking or selling prices in area near
subject property;

 We assume that the BIR zonal value is a more realistic value since it is the opinion of at
least three appraisers- the BIR representative, private appraisers and the assessor of
Quezon City;

 Ownership is assumed correct and any encumbrance to the property, if there is any, was
disregarded;

 Land is valued as if vacant based on highest and best-legal use principle;

 No title verification nor relocation survey made;

 This report is confidential and cannot be used in court without this appraiser’s consent.

CESSON Real Estate Business Center, #2 Champaca Street corner East Drive, Marikina Heights, Marikina City
 CERTIFICATION OF VALUE
Per request, I hereby certify that, I have made an ocular inspection and investigation on a
residential lot with an area of 264 square meters and improved by a residential 2-storey dwelling.

The subject property is located at No. _____________________ Subdivision, Brgy. Pulang

Lupa Dos, Las Pinas City, Metro Manila, Philippines.

Details of the property are as follows:

● TCT Number
● Register of Deeds
● Lot number / Block number
● Registered Owner
● Date registered

The purpose of this appraisal is to express an opinion on the market value of the property.

Market Value is defined as -

“the most probable price in cash, terms equivalent to cash or in other precisely revealed terms,
for which the appraised property will sell in a competitive market under all conditions requisite
of fair sale, with the buyer and seller each acting prudently, knowledgeably and for self-
interest
and assuming that neither is under pressure to buy nor to sell.”

After analyzing available data, in my opinion, the estimated value of the subject property is:

Eleven Million Five Hundred Eighty Thousand Pesos

( P11,580,000.00)
Philippine Currency, as of April 16,2021

I FURTHER CERTIFY THAT, I have neither present nor prospective interest in the above
property either directly or indirectly and that our appraisal fee is not contingent upon the final
estimate of value. This report is in accordance with the Code of Conduct for real estate appraisers.

Given this 21st day of April 2021, in Marikina City, Metro Manila, Philippines.

Cesar E. Santos
Appraiser’s License No. 1889

CESSON Real Estate Business Center, #2 Champaca Street corner East Drive, Marikina Heights, Marikina City
 Valid until 04/05/2023
PTR No. 8690228
until Jan. 14, 2022
Marikina City

CESSON Real Estate Business Center, #2 Champaca Street corner East Drive, Marikina Heights, Marikina City