A-F-1

REAL ESTATE APPRAISAL

FOR A RESIDENTIAL
BUILDING

DATE ISSUED: APRIL 24, 2025

DATE DUE: APRIL 24, 2025

CM SPECIALIZATION 2

REALINGO, JODEL L.

ARCH51S3
Appraisal: Cost Approach to Value (Unit-In-Place Method)

Property Description

• Location: 29 Theseus St, Antipolo, Calabarzon, Philippines

• Type: Two-story residential building
• Features: Modern design with brick/stone cladding, flat roof with parapet, balconies with glass and metal railings, tiled exterior
walls, aluminum-framed windows, landscaped frontage with potted plants, and various interior and exterior finishes.

Step 1: Estimate the Value of Land as if Vacant (Market Data Approach)

The land value is estimated using the market data approach, which involves comparing sales of similar vacant lots in Antipolo,
Calabarzon. Description 3 indicates a residential urban setting with a likely lot size of 200–500 square meters. Local research suggests
residential land values in Antipolo range from PHP 5,000 to PHP 15,000 per square meter (as of recent market trends). Assuming a
mid-range value and a lot size of 200 square meters (a reasonable estimate based on the building footprint and surrounding
properties):

• Land Area: 200 sq.m

• Market Value per sq.m: PHP 10,000 (mid-point of PHP 5,000–15,000)
• Land Value: 200 sq.m × PHP 10,000/sq.m = PHP 2,000,000.00

Land Value (as if vacant): PHP 2,000,000.00

Step 2: Estimate Present Reproduction Cost of the Improvement

The reproduction cost is calculated using the Unit-In-Place Method, breaking down the structure into components and estimating
current costs based on the BOQ data from descriptions 4, 5, 6, and 7, supplemented by visual details from descriptions 0–3. Costs are
sourced from the provided BOQs where available and adjusted or assumed for missing components based on standard construction
rates in the Philippines.

Bill of Quantities (BOQ)

The BOQ consolidates all visible components, quantities, and costs from the descriptions, with assumptions for completeness where
data is partial.

Item Description Quantity Unit Unit Cost Total Cost

No. (PHP) (PHP)
Foundation, Concrete Columns, Beams
1.1 Portland Cement, 40 kg 426 bags 250.00 106,500.00
1.2 River Sand 72 cu.m 850.00 61,200.00
1.3 3/4" Gravel or Crushed Stones 75 cu.m 850.00 63,750.00
1.4 Steel Reinforcing Bars (various sizes)
10 mm x 6.00 m (Grade 40) 805 pcs 167.00 134,435.00
12 mm x 6.00 m (Grade 40) 64 pcs 233.00 14,912.00
16 mm x 6.00 m (Grade 40) 296 pcs 399.00 118,104.00
20 mm x 6.00 m (Grade 40) 395 pcs 665.00 262,675.00
1.5 Tie Wire No. 16 10 roll 3,795.00 37,950.00
1.6 Common Wire Nails
50 mm 1 lot 5000.00 5000.00
75 mm 1 lot 5000.00 5000.00
 100 mm 1 lot 5000.00 5000.00
1.7 Concrete Nails 75 mm 1 lot 5000.00 5000.00
1.8 Form Phenolic Boards 20 mm x 1.2 m x 2.4 m 15 pcs 1000.00 15,000.00
1.9 Form Lumber (Rough Tanguile)
2 x 2 x 12 30 bf 41.00 1,230.00
2 x 4 x 12 30 bf 45.00 1,350.00
2 x 3 x 12 Coco Rough 30 bf 41.00 1,230.00
1.10 3 mm Screen 10 yd 95.00 950.00
Subtotal 839,286.00
CHB Walls, Dry Wall, Plastering, Slabs, Overhangs
2.1 Portland Cement, 40 kg 1,144 bags 250.00 286,000.00
2.2 Washed Sand 80 cu.m 850.00 68,000.00
2.3 3/4" Gravel or Crushed Stones 29 cu.m 850.00 24,650.00
2.4 Concrete Hollow Blocks, 6" Load Bearing (Exterior) 4,500 pcs 26.00 117,000.00
2.5 Concrete Hollow Blocks, 4" (Interior) 2,016 pcs 11.50 23,184.00
2.6 Steel Reinforcing Bars Deformed, (PAG-ASA Brand)
10 mm x 6 m (Grade 33) 241 pcs 135.00 32,535.00
12 mm x 6 m (Grade 33) 400 pcs 195.00 78,000.00
16 mm x 6 m (Grade 33) 30 pcs 345.00 10,350.00
2.7 Tie Wire No. 16 4 roll 3,795.00 15,900.00
2.8 Common Wire Nails
50 mm 1 lot 5,000.00 5,000.00
75 mm 1 lot 5,000.00 5,000.00
100 mm 1 lot 5,000.00 5,000.00
2.9 Finishing Nails
30 mm 1 lot 5,000.00 5,000.00
50 mm 1 lot 5,000.00 5,000.00
63 mm 1 lot 5,000.00 5,000.00
2.10 Concrete Nails 75 mm 1 lot 5,000.00 5,000.00
2.11 Form Phenolic Boards 20 mm x 1.2 m x 2.4 m 50 pcs 1,000.00 50,000.00
2.12 3 mm Screen 10 yd 95.00 950.00
2.13 Skim Coat 1 lot 40,000.00 40,000.00
Subtotal 781,569.00
Scaffolds, Shoring
3.1 H-Frame with Cross Bracing 1 lot 100,000.00 100,000.00
3.2 Shorings 1 lot 25,000.00 25,000.00
Subtotal 125,000.00
Doors and Windows
4.1 0.9 m x 2.1 m Steel Door w/ 2 x 5 Jamb (Main) 1 set 11,000.00 11,000.00
4.2 0.8 m x 2.1 m Panel Door w/ 2 x 5 Jamb 7 set 6,000.00 42,000.00
4.3 0.7 m x 2.1 m Louvered PVC Door w/ 2 x 5 Jamb 5 set 2,500.00 12,500.00
4.4 Hafele Door Lock Set Main Door 1 set 5,000.00 5,000.00
4.5 Double Door w/ Fittings & Accessories 3 Pcs 14,000.00 42,000.00
4.6 3 x 3 Loose Pin Hinges 60 pcs 280.00 16,800.00
4.7 Aluminum Window w/ 6 mm thk Clear Glass 652 [Link] 320.00 208,640.00
Subtotal 337,940.00
Electrical
5.1 Wires 1 lot 125,000.00 125,000.00
5.2 Fixtures & Accessories 1 lot 75,000.00 75,000.00
5.3 Others 1 lot 75,000.00 75,000.00
Subtotal 275,000.00
 Plumbing
6.1 4” dia. Sanline by Neltex 3.0 m 32 pcs 861.00 27,552.00
6.2 2” dia. PVC by Neltex 3.0 m 27 pcs 861.00 23,247.00
6.3 1” dia. PPR PN 25 3.0 m 12 pcs 256.00 3,072.00
6.4 1/2” dia. PPR PN 25 3.0 m 32 pcs 548.00 17,536.00
6.5 4 x 4 PVC Wye Ord. 12 pcs 28.00 336.00
6.6 4” PVC 90 deg. Elbow 12 pcs 22.00 264.00
6.7 4” 1/8 Bend Elbow 12 pcs 15.00 180.00
6.8 2” P Trap 26 pcs 26.00 676.00
6.9 2 x 2 PVC Wye 25 pcs 8.00 200.00
6.10 2” 90 deg. Elbow 21 pcs 5.00 105.00
6.11 2” PVC Wye 21 pcs 8.00 168.00
6.12 2” PVC Tee 15 pcs 8.00 120.00
6.13 Solvent Cement 500 cc 3 cans 50.00 150.00
6.14 1/2” GI Elbow 53 pcs 9.00 477.00
6.15 1/2” GI Coupling 20 pcs 6.00 120.00
6.16 1/2” GI Tee 32 pcs 12.00 384.00
6.17 1/2” Check Valve 1 pcs 450.00 450.00
6.18 1/2” 2-way Angle Valve 12 pcs 450.00 5,400.00
6.19 1/2” Gate Valve 9 pcs 250.00 2,250.00
6.20 1/2” Ball Valve 1 pcs 250.00 250.00
6.21 1/2 x 3 GI Nipple 6 pcs 50.00 300.00
6.22 1/2 Hosebibb Faucet (American Standard) 11 pcs 500.00 5,500.00
6.23 1/2 Hosebibb Faucet (ord.) 1 pcs 500.00 500.00
6.24 AS Water Closet 6 sets 7,000.00 42,000.00
6.25 16 x 20 Stainless Sink 2 pcs 6,000.00 12,000.00
6.26 Shower Valve Set 1/2” 4 sets 8,000.00 32,000.00
6.27 1/2 Faucet AS or Hafele 5 sets 4,000.00 20,000.00
6.28 Lavatory 5 sets 5,000.00 25,000.00
6.29 Flexible Hose 10 pcs. 150.00 1,500.00
6.30 Biddette 1/2” 6 sets 500.00 3,000.00
6.31 Teflon Tape (US Brand) 100 box 39.75 3,975.00
6.32 4” Floor Drain (American Brand) 12 pcs. 500.00 6,000.00
6.33 4” Floor Cleanout 12 pcs. 694.00 8,328.00
6.34 10 Drums Capacity GI Tank w/ Stand 1 sets 16,000.00 16,000.00
Subtotal 259,040.00
Tile Works
7.1 60 x 60 Homogenous 701 pcs. 140.00 98,140.00
7.2 60 x 60 Unglazed Non-Skid 384 pcs. 200.00 76,800.00
7.3 ABC Tile Grout 40 kg. 80.00 3,200.00
7.4 Bostik Tile Adhesive, 25 kg 60 bags 250.00 15,000.00
7.5 Portland Cement, 40 kg Holcim Brand 30 bags 235.00 7,050.00
7.6 Washed Sand 25 cu.m 850.00 21,250.00
Subtotal 221,440.00
Painting Works
8.1 Painting 1 lot 250,000.00 250,000.00
Subtotal 250,000.00
Carpentry Works
9.1 1/4 x 4 x 8 Plywood Ord. 200 pcs. 350.00 70,000.00
9.2 3/4 x 4 x 8 Plywood Ord. 200 pcs. 950.00 190,000.00
9.3 Hardwares 1 lot 20,000.00 20,000.00
 9.4 Others 1 lot 20,000.00 20,000.00
Subtotal 300,000.00
Roofing
10.1 Portland Cement, 40 kg Holcim Brand 356 bags 250.00 89,000.00
10.2 Washed Sand 36 cu.m 850.00 30,600.00
10.3 3/4” Gravel or Crushed Stones 57 cu.m 850.00 48,450.00
Subtotal 168,050.00
Stairs and Railings
11.1 Portland Cement, 40 kg Holcim Brand 54 bags 250.00 13,500.00
11.2 Washed Sand 4 cu.m 850.00 3,400.00
11.3 3/4” Gravel or Crushed Stones 8 cu.m 850.00 6,800.00
Subtotal 23,700.00
Equipment
12.1 Agitator Truck 3 cu.m RMC w/ Pumpcrete 22 cu.m 8,000.00 176,000.00
Subtotal 176,000.00
Others
13.1 600 mm Built In La Germania Gas Hob 1 set 11,000.00 11,000.00
13.2 600 mm Built In Range Hood 1 set 7,000.00 7,000.00
13.3 Water Heater 4 set 4,500.00 18,000.00
13.4 Ceiling Duct Fan (Exhaust) 1 pc 1,315.00 1,315.00
13.5 4” Aluminum Ducting Hose 3.0 m 1 pc 780.00 780.00
13.6 Stainless Steel Pipehood 1 pc 997.50 997.50
13.7 Grease Trap 3 gpm Mirror Finished 1 set 8,000.00 8,000.00
Subtotal 47,092.50

Total Materials Cost:

PHP 3,804,117.50

Labor Cost @ 40% Material Cost:

PHP 1,521,647.00

Probable Project Construction Cost (PCC):

PHP 5,325,764.50

Step 3: Estimate Depreciation from All Causes

Depreciation includes physical deterioration, functional obsolescence, and economic obsolescence:

• Physical Depreciation: Assume 5% depreciation due to minor wear and potential flat roof maintenance risks.
• Functional Obsolescence: Modern design (balconies, large windows) suggests minimal issues. Assume 5% for potential
layout inefficiencies (e.g., narrow street access).
• Economic Obsolescence: Stable residential area with no visible external negatives. Assume 0%.
• Total Depreciation Rate: 5% + 5% = 10%
• Depreciation Amount: 10% × PHP 5,325,764.50 = PHP 532,576.45
Step 4: Deduct Estimated Depreciation from Present Reproduction Cost

• Reproduction Cost: PHP 5,325,764.50

• Depreciation: PHP 532,576.45
• Indicated Value of Improvements: PHP 5,325,764.50 − PHP 532,576.45 = PHP 4,793,188.05

Indicated Value of Improvements: PHP 4,793,188.05

Step 5: Add Land and Improvement Values to Develop Indicated Property Value

• Land Value: PHP 2,000,000.00

• Indicated Value of Improvements: PHP 4,793,188.05
• Total Property Value: PHP 2,000,000.00 + PHP 4,793,188.05 = PHP 6,793,188.05

Indicated Property Value: PHP 6,793,188.05

Appraisal Summary

• Land Value (as if vacant): PHP 2,000,000.00

• Reproduction Cost of Improvements: PHP 5,325,764.50
• Depreciation:
o Physical: 5%
o Functional: 5%
o Economic: 0%
o Total: 10% (PHP 532,576.45)
• Indicated Value of Improvements: PHP 4,793,188.05
• Total Property Value: PHP 6,793,188.05

PHOTOGRAPHS/REFERENCE DRAWINGS: