As an illustration of some of the principles involved in an appraisal the following diagram and figures may be considered. Let it be assumed that the property fronts on a business street and that inside lots are worth ten thousand dollars each. The Davies rule for valuing the short lots will be used.

Illustration Of Method Of Computing Valuations 9

Full size inside lot value.....................$10,000.

Lot A

Average depth 98 feet - value 98.8%..............................

$9,880

Add 50% for corner..................................................

4,940

$14,820

B

Average depth 94 feet - Value 96.4%............................

9,640

Add 10% for corner influence.................................

964

10,604

C

Average depth 90 feet - Value 94%...............................

9,400

D

Average depth 86 feet - Value 91.6%............................

9,160

E

Average depth 82 feet - Value 89%...............................

8,900

F

Average depth 78 feet - Value 86.2%............................

8,620

G

Average depth 74 feet - Value 83.4% ............................

8,340

Add 10% for corner influence...................................

834

9,174

H

Average depth 70 feet - Value 80.6%...........................

8,060

Add 50% for corner..................................................

4,030

12,090

$82,768

Add 10% for plottage..........................................

8,276

Total value of plot................................................

$91,044

The average depth of the entire plot is 84 feet, and its area is 16,800 square feet. If the value was computed on the basis of area alone it would amount to $67,200 or $4 per square foot. On the basis of value as illustrated the amount is $91,044 or over $5.40 per square foot.