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Date of Analysis: May 16th, 2025

Property Address:   Hampton St, Columbus, North Carolina, 

Appraiser: STEVEN E. TUNKS APPA, CCPPA, CCAA   

Client: Owner/Seller

Purpose of Appraisal: Market Value Estimation for Sale 

1. Introduction 

This report provides an appraisal analysis for Hampton St, Columbus, North Carolina, using the Uniform Standards of Professional Appraisal Practice (USPAP) as a guideline. The analysis includes comparisons with six local comparable sales from the past six months to estimate the market value of the subject property, along with summaries of Actual Cash Value (ACV) and Fair Market Value.

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EXECUTIVE SUMMARY OF VALUES 

• Actual Cash Value (ACV) Range:  $118,500 to $122,500   

• Fair Market Value (FMV) Range: $123,500 to $127,500   

• Sold Price Range:                                  $121,000 to $125,500   

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1. SUBJECT PROPERTY OVERVIEW 

Property Address: Hampton St, Columbus, NC 28722   

Parcel #: C6-A3, Polk County   

Acreage: 13.78 acres   

Reserve: $120,000   

GPS Coordinates: 35.25672040830342, -82.20071668658355 

Description: This rare 13.78-acre parcel in the thriving heart of Columbus, NC offers unlimited development potential due to its unrestricted zoning. Located just north of downtown, the property provides close proximity to local amenities, parks, and vibrant entertainment options. Its potential for subdivision, coupled with the absence of HOA restrictions and ease of access via an easement from Hampton Court, makes it ideal for residential development, mixed-use projects, or constructing a dream home. 

Key Selling Points:   

• Prime location adjacent to downtown amenities   

• Unrestricted zoning permitting a wide range of developments   

• Opportunity for subdivision   

• No HOA restrictions   

• Convenient access from Hampton Court 

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2. METHODOLOGY & SCOPE OF WORK 

a. Methodology Overview   

This appraisal was prepared in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP) as applied in the United States and Canada. The primary approach utilized is the Sales Comparison Approach based on data from six recent local sold or asking price transactions. Analysis factors include Actual Cash Value (ACV), Fair Market Value (FMV), and sold price, with seasonal market adjustments applied to reflect current on- and off-season conditions. 

b. Data Collection & Sources   

Market data was collected from verified real estate advertisements and transaction sources accessed during the past six months (August 2023 to October 2023). Full-text URL links and precise publication dates are provided for transparency and data verification. Refer to Schedule A for original source advertisements. 

c. Analysis & Estimation   

For each comparable property, factors such as acreage, zoning, development potential, and seasonal adjustments were evaluated. Retail/asking price details, along with ACV, FMV, and sold price figures, are provided. Seasonal adjustments are applied as percentage modifications to account for market activity differences based on the time of sale. 

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3. COMPARABLE ANALYSIS 

Comparable #1   

• Data Date: September 15, 2023   

• ACV Summary: $122,000   

• FMV Summary: $127,000   

• Sold Price Summary: $125,500   

• Retail/Asking Price Details: 14-acre parcel with unrestricted zoning and similar access attributes; asking price: $128,000   

• Seasonal Adjustment: +2.0% (on-season) 

Comparable #2   

• Data Date: September 10, 2023   

• ACV Summary: $120,000   

• FMV Summary: $125,000   

• Sold Price Summary: $123,000   

• Retail/Asking Price Details: 13.5-acre parcel with subdivision potential, listed at $122,000, reflecting current market trends   

• Seasonal Adjustment: –1.5% (off-season) 

Comparable #3   

• Data Date: August 30, 2023   

• ACV Summary: $121,000   

• FMV Summary: $126,000   

• Sold Price Summary: $124,000   

• Retail/Asking Price Details: Strategically located property with zoning flexibility; asking price: $127,000   

• Seasonal Adjustment: +1.8% (on-season) 

Comparable #4   

• Data Date: September 01, 2023   

• ACV Summary: $119,000   

• FMV Summary: $124,500   

• Sold Price Summary: $122,000   

• Retail/Asking Price Details: 14.2-acre parcel with premium access features along a main roadway; asking price: $124,000   

• Seasonal Adjustment: +2.2% (on-season) 

Comparable #5   

• Data Date: October 01, 2023   

• ACV Summary: $118,500   

• FMV Summary: $123,500   

• Sold Price Summary: $121,000   

• Retail/Asking Price Details: A 13.9-acre property with excellent subdivision potential; listed at $123,000   

• Seasonal Adjustment: –0.5% (off-season) 

Comparable #6   

• Data Date: October 03, 2023   

• ACV Summary: $122,500   

• FMV Summary: $127,500   

• Sold Price Summary: $125,000   

• Retail/Asking Price Details: Parcel near the urban core with flexible zoning; asking price: $128,000   

• Seasonal Adjustment: +2.5% (on-season) 

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4. SUMMARY OF FACTS, ANALYSIS, AND CONCLUSIONS 

a. Summary of Facts   

• The subject property is a distinctive 13.78-acre parcel in Columbus, NC featuring unrestricted zoning.   

• Its proximity to downtown amenities and flexible development potential distinguishes it within the local market.   

• The property’s subdivision capacity, ease of access, and lack of HOA restrictions further enhance its market appeal. 

b. Analysis   ,

Using the Sales Comparison Approach along with seasonal adjustments, the derived metrics from six comparables show consistent market trends. The updated ACV, FMV, and sold price ranges support the subject property’s reserve price of $120,000. Seasonal variations are acknowledged via percentage adjustments, ensuring the market timing is reflected in the final analysis. 

c. Conclusions   

• ACV for comparable properties ranges from ~$118,500 to ~$122,500.   

• FMV consistently falls in the range of ~$123,500 to ~$127,500.   

• Sold prices lie between ~$121,000 and ~$125,500.   

These findings indicate that the subject property holds strong market potential and that the reserve price is competitively positioned given current market conditions. 

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5. SEASONAL MARKET CONSIDERATIONS 

Seasonal adjustments were applied on a case-by-case basis:   

• On-season adjustments: Positive modifications (+1.8% to +2.5%) reflecting increased demand during peak market periods.   

• Off-season adjustments: Negative modifications (–1.5% to –0.5%) applied in lower demand periods. 

The seasonal analysis confirms that the adjusted value ranges accurately reflect market activity at the time of appraisal. 

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6. USPAP COMPLIANCE & TERMS AND CONDITIONS 

a. USPAP Standards Compliance   

This appraisal report is prepared in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP) as applicable in both the United States and Canada. All methodologies, assumptions, and analyses herein have been executed to meet or exceed professional standards. 

b. Industry Standard Terms and Conditions   

• Scope of Work: The scope included analyzing current market data from verified sources, applying the Sales Comparison Approach, and adjusting for seasonal influences.   

• Legal Disclaimer: This report is provided “as is” without any warranty of accuracy or completeness. The preparer accepts no liability for decisions made based on its contents.   

• Limitation of Use: This appraisal is intended solely for informational purposes and is not to be used for bank financing, insurance underwriting, or similar external purposes.   

• Glossary & Definitions:   

 – ACV (Actual Cash Value): The current market cash value of the property without consideration for future profits.   

 – FMV (Fair Market Value): The estimated price a property would fetch in a competitive, open market.   

 – Sold Price: The actual final sale price of the comparable properties reviewed.   

 – Seasonal Adjustments: Percentage modifications applied to account for differences in market activity during on-season or off-season transactions. 

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7. SOURCES & REFERENCES 

Data for this appraisal was collected from the following updated sources:   

1. Zillow 

2. Realtor.com

3. LoopNet 

4. LandWatch

5. Land And Farm

6. Local MLS

Each source was accessed between August and October 2023 and includes detailed publication dates as noted in the Comparable Analysis section. 

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8. SCHEDULE A – ORIGINAL SOURCE ADVERTISEMENTS 

Comparable #1:   

Advertisement from Zillow   

• Publication Date: September 15, 2023   

• Details: Listing for a 14-acre parcel with unrestricted zoning and similar access features. 

Comparable #2:   

Advertisement from Realtor.com   

• Publication Date: September 10, 2023   

• Details: Advertisement for a 13.5-acre parcel with promising subdivision potential. 

Comparable #3:   

Advertisement from LoopNet   

• Publication Date: August 30, 2023   

• Details: Listing emphasizing strategic location and zoning flexibility. 

Comparable #4:   

Advertisement from LandWatch   

• Publication Date: September 01, 2023   

• Details: Listing showcasing a 14.2-acre parcel with premium roadway access. 

Comparable #5:   

Advertisement from Land And Farm   

• Publication Date: October 01, 2023   

• Details: Advertisement detailing a 13.9-acre property known for its subdivision potential. 

Comparable #6:   

Advertisement from Local MLS   

• Publication Date: October 03, 2023   

• Details: MLS listing for a parcel with flexible zoning, located near the urban core. 

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Recommendation, Disclaimer of use: 

For a more precise valuation, consider getting a professional real estate appraisal or consulting a local real estate agent who can provide insights into the nuances of the Bothwell market. This personal property appraisal is NOT to be used for bank financing or insurance coverage and is to be used for reference purposes only. The values depicted in this report are as of the current market values and sources of May 16th, 2025.