If an appraiser determines the site value is $118,000 and the replacement cost of the building is $322,000 with $30,000 depreciation, what is the overall estimated value?

To determine the overall estimated value of the property, you would use the following formula:

Overall Estimated Value = Site Value + (Replacement Cost - Depreciation)

Using the numbers provided:

• The site value is $118,000.
• The replacement cost is $322,000.
• The depreciation is $30,000.

First, calculate the adjusted replacement cost: $322,000 (Replacement Cost) - $30,000 (Depreciation) = $292,000.

Next, add the site value to the adjusted replacement cost: $292,000 + $118,000 = $410,000.

This calculation shows that the overall estimated value, considering both the site and the adjusted building replacement cost, amounts to $410,000. This indicates how the value of the land and the effective value of the structure contribute to the final property valuation.