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Calculations

Using a method such as the sample Marshall & Swift SEG report shown below, costs are accurately built up by measuring and ranking individual building components:

COST ESTIMATE FOR:  Insurable Value
PROPERTY OWNER:  SAMPLE APPRAISAL
ADDRESS:  1127 ELM BLVD ANYPLACE US
SURVEYED BY:  Clay Mikolasy
DATE OF SURVEY:  TODAY
OCCUPANCY: 
CLASS:  2, JOISTED MASONRY COST RANK:   2.0 AVERAGE
EFFECTIVE AGE:  15 CONDITION:   4.0 GOOD
NUMBER OF STORIES:  2 AVERAGE STORY:   12
FLOOR AREA, SQ.FT.:  13,847 COST AS OF [DATE]
COMPONENT UNITS

COST

NEW DEPR
---------------------------------------------------------------
FRAME
Bearing walls, floor supports.. 14,626 1.21 17,705 15,049
Steel.......................... 4,846 4.61 22,340 18,989
FLOOR STRUCTURE
Concrete: on ground............ 7,000 3.45 24,133 20,513
Wood joists and sheathing...... 12,472 5.74 71,622 60,878
Automatic Dock Levelers........ 1 6,528 6,528 5,549
Dock Height Floors............. 1,750 3.88 6,783 5,766
FLOOR COVER
Carpet and pad................. 8,724 3.21 28,029 23,825
Tile, ceramic or quarry........ 277 9.74 2,698 2,293
Vinyl tile.................... 4,846 4.18 20,268 17,228
CEILING
Acoustic, mineral fiber, fiberglass.... 12,772 1.88 23,970 20,375
Gypsum board................... 1,075 1.54 1,656 1,407
Suspension system.............. 12,772 1.32 16,805 14,285
INTERIOR CONSTRUCTION
Interior Construction.......... 3,462 21.79 75,443 64,127
Interior Construction.......... 10,385 10.61 110,209 93,678
Range hood..................... 12 765.00 9,180 7,803
PLUMBING
Plumbing...................... 3,462 5.00 17,302 14,707
Plumbing...................... 10,385 5.26 54,660 46,461
FIRE PROTECTION
Fire detectors, hard-wired..... 56 112 6,242 5,306
HEATING, COOLING, VENTILATING
Warm and cooled air........... 13,847 7.53 104,221 88,587
ELECTRICAL AND LIGHTING
Electrical and lighting........ 5,625 2.21 12,450 10,583
Electrical and lighting........ 13,847 8.38 116,099 98,684
Standby power.................. 30 601.80 18,054 15,346
EXTERIOR WALL
Block, concrete................ 6,120 16.01 98,006 83,305
Stucco on masonry.............. 6,120 16.83 103,000 87,550
Metal and glass panels......... 680 27.80 18,901 16,066
Dryvit......................... 1,150 13.67 15,718 13,360
Awnings, fabric................ 51 127.50 6,503 5,527
BASEMENT WALLS
Concrete, reinforced........... 3,060 11.58 35,426 30,112
Add for waterproofing.......... 3,060 .97 2,965 2,520
ROOF STRUCTURE
Steel joists, steel deck....... 1,750 5.94 10,389 8,830
Wood joists, wood deck......... 5,250 4.25 22,330 18,981
Skylights...................... 200 27.54 5,508 4,682
Mansard structure.............. 1,500 7.91 11,858 10,079
Mansard soffit................. 200 3.98 796 676
ROOF COVER
Composition shingles........... 1,500 2.04 3,060 2,601
Neoprene-Hypalon rubber...... 6,300 4.49 28,274 24,033
Terne, flat or standing seam... 700 8.67 6,069 5,159
CANOPIES OR MARQUEES
Canopies or marquees........... 212 22.19 4,703 3,998
---------------------------------------------------------------
TOTAL..........................   1,139,900 968,915
ARCHITECT'S FEES............... 5.5% 62,695 53,290
REPLACEMENT COST NEW......... 13,847 86.85 1,202,595

 

DEPRECIATION................... 15.0% 180,389
DEPRECIATED COST............... 1,022,206
---------------------------------------------------------------
ROUNDED TO NEAREST    $1,000     1,203,000 1,022,000
Cost Data by MARSHALL and SWIFT

Caution: do not attempt to use this example to appraise an actual building! All components and values are individually calculated based on localized costs and observed conditions, and they will not apply to your building.

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2005 C Mikolasy