BROKER PRICE OPINION File # [ 2988348.

1 ]
SUBJECT INFORMATION
Date Inspected 06/01/2021 Inspection Type Drive-By Interior Client Loan # 7000252416

Property Address 342 MILLS GAP RD Client Name CMS-CCM Non-Recoverable

CIity|State|Zip ASHEVILLE | NC | 28803 Firm Name Heaton Real Estate
County Buncombe Completed By Michael Heaton
Phone 828-320-0663 Fax
Property Type Single Family Detached Parcel # 965581638900000
Occupancy Occupied Secured Y Borrower/Owner BOBBY HANNAH
Legal Description Deed: 4874-1289 Subdiv: FENDER Block: Lot: E Section: Plat: 0121-0122 Assesssed Value $ 171,800 Assesssed Date 04/01/2019
Zoning Residential Annual Real Estate Taxes $ 1,080 Delinquent? N Delinquent $

GENERAL MARKET CONDITIONS

Current Market Conditions Estimated Percentages of Owner vs Tenants in Neighborhood 94 % Owner Occupant 6 % Tenant
Depressed Slow Stable Improving Excellent
There is a ( Normal Supply Over Supply Shortage ) of Comparable Listings in the Neighborhood
Employment Conditions
3 Approximate # of Comparable Units for Sale in the Neighborhood Owner Pride
Declining Stable Increasing
0 # of Competing Listings in Neighborhood that are REO or Corporate Owned Average

Market Price of this Type Property has 0 # of Boarded or Blocked-up Homes

Decreased % per month for the past 12 months General Market Comments
Increased 14 % per month for the past 12 months The market has set record high prices over the past 3 years. Seller activity has been very low but has increased in recent
Remained Stable months

SUBJECT MARKETABILITY
Range of Sales in the Neighborhood is $ 155,000 to $ 515,000 Site Influences Gentle sloping lot Curb Appeal Average

The Subject is an ( Over Improvement Under Improvement Appropriate Improvement) for the Neighborhood
Are all Types of Financing Available for the Property? Y If No, Explain Construction Nearby? Y

Normal Marketing Time in the Area is 29 Days Resale Comments Good resale porential
Has the Property been on the Market in the Past 12 Months? N If Yes, Explain
Is the Property Currently Listed? N Listing Company List Price $ Listing Date

HOA? N HOA Contact Name Phone

Fee $ Monthly Annually The Fee Includes
Delinquent? Amount $ Insurance Landscape Pool Tennis Other

COMPARABLE SALES (Sales should be less than 6 months old)

ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3
Address 342 MILLS GAP RD 334 Mills Gap Road 419 Jackson Road 97 Cromer Drive
City, St Zip ASHEVILLE, NC 28803 ASHEVILLE, NC 28803 Fletcher, NC 28732 Fletcher, NC 28732
Proximity to Subject 0.06 mi NW 4.56 mi S 4.15 mi S
Type of Sale Traditional Resale Traditional Resale Traditional Resale
Sale Price Sale Date $ 200,000 03/24/2021 $ 211,500 05/21/2021 $ 199,000 05/01/2021
Price/Gross Living Area $ 181.16 /SqFt $ 173.93 /SqFt $ 147.30 /SqFt
Data Source Source ID# MLS ID# 3700418 MLS ID# 3731808 MLS ID# 3703448
Property Type Units Single Family Detached 1 Single Family Detached 1 Single Family Detached 1 Single Family Detached 1
Org List Price Date DOM $ 235,000 01/21/2021 4 $ 207,000 04/23/2021 3 $ 199,000 02/09/2021 26
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment

Transaction Type Traditional Resale 0 Traditional Resale 0 Traditional Resale 0

Concessions 0 0 0 0 4000` -4,000
Location Rural Rural 0 Rural 0 Rural 0
Leasehold/Fee Simple Fee Simple Fee Simple 0 Fee Simple 0 Fee Simple 0
Site Size 0.5 Acres 0.62 Acres -1,800 0.43 Acres 1,050 0.47 Acres 450
View Residential Residential 0 Residential 0 Residential 0
Property Style Ranch/1 Story Ranch/1 Story 0 Ranch/1 Story 0 Ranch/1 Story 0
Quality of Construction Average Average 0 Average 0 Average 0
Year Built Age 1950 71 Yrs 1955 66 Yrs -1,000 1948 73 Yrs 400 1955 66 Yrs -1,000
Condition Average Average 0 Average 0 Average
Above Grade Total Bdrm F B A H B A Total Bdrm F B A H B A Total Bdrm F B A H B A Total Bdrm F B A H B A
Room Count 5 2 1 0 5 3 1 0 -10,000 4 2 1 0 0 5 2 1 0 0
Gross Living Area 1,222 SqFt 1,104 SqFt 14,160 1,216 SqFt 720 1,351 SqFt -15,480
Basement Basement Type Y Walkout Y Walkout N 2,000 N 2,000
Basement Area Finished 188 SqFt 0 SqFt 336 SqFt 0 SqFt -5,000 0 SqFt 0 SqFt 0 0 SqFt 0 SqFt 0
Car Storage # of Spaces None None 0 0 Detached 2 -20,000 None 0 0
Fence Fireplace N Y N Y 0 N Y 0 N Y 0
Pool Pool Type N N 0 N 0 N 0
Heating/Cooling Central Heat Other 5,000 Central Heat 0 Other 5,000
Amenities Porch Porch 0 Porch 0 Porch 0
Net Adjustment (Total) Most Similar to Subject $ 1,360 Most Similar to Subject $ -15,830 Most Similar to Subject $ -13,030
Adjusted Sale Price $ 201,360 $ 195,670 $ 185,970
Comparable Sale Comments
It's all about location with this 3-bedroom, 1-bathroom home that sits on two lots, totaling more than half an acre of level land. The home has lots of natural light, wood floors and a laundry room off
Sale #1 the kitchen with access to outside. With a 7 year history of rentals, this is perfect for an investor. City water, unfinished basement with access from outside and new blower motor recently added to
the furnace.
A great location with good proximity to Hendersonville and Asheville. This home sits on a .43 lot with a fenced in yard. It has well established landscaping with a yard that slopes gently in the back.
Sale #2 Original hardwood runs through most of the home with tile in the bathroom and vinyl in the kitchen. There is one room the current owners use for a dining room but said it is the third bedroom.With
some updating this will be a great starter home or investment property.
Rustic 1955 cottage with amazing character, combined with great updates and renovations. Enjoy the family farm feel on this property, which was formerly the Cunningham Family Farm. The
Sale #3 home is sited on a gently lying .47 acres

All information provided is based upon public records or general expertise and may be dependent upon the analysis or reporting of other parties. This analysis has been performed by a licensed
real estate professional and is intended for the benefit of the addressee. This report should not be construed as an appraisal. All information herein is deemed accurate but not guaranteed.
© 2016 Consolidated Analytics, All Rights Reserved BPO (2016)
 BROKER PRICE OPINION File # [ 2988348.1 ]
MARKETING STRATEGY
As-Is Minimal Lender Required Repairs Repaired Most Likely Buyer Owner Occupant Investor

REPAIRS (Itemize ALL repairs needed to bring property from its present "as-is" condition to average marketable condition for the neighborhood.)
Estimated Estimated
# Item Cost # Item Cost
1 $ 6 $
2 $ 7 $
3 $ 8 $
4 $ 9 $
5 $ 10 $

Total For All Repairs $ 0

COMPARABLE LISTINGS
ITEM SUBJECT COMPARABLE LISTING #1 COMPARABLE LISTING #2 COMPARABLE LISTING #3
Address 342 MILLS GAP RD 35 Chapel Hill Church Road 10 Fair Oaks Road 942 Mills Gap Road
City, St Zip ASHEVILLE, NC 28803 Asheville, NC 28803 Arden, NC 28704 Fletcher, NC 28732
Proximity to Subject 4.65 mi N 2.82 mi S 2.26 mi SE
Type of Listing List Price Traditional Resale $ 300,000 Traditional Resale $ 239,900 Traditional Resale $ 295,000
$/SqFt List Date $ 228.14 /SqFt 02/12/2021 $ 209.70 /SqFt 05/24/2021 $ 284.20 /SqFt 05/10/2021
Property Type Units Single Family Detached 1 Single Family Detached 1 Single Family Detached 1 Single Family Detached 1
Data Source Source ID# MLS ID# 3704235 MLS ID# 3742700 MLS ID# 3737070
Org List Price Org List Date $ 300,000 02/12/2021 $ 239,900 05/24/2021 $ 295,000 05/10/2021
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment

Transaction Type Traditional Resale 0 Traditional Resale 0 Traditional Resale 0

Days on Market 74 -10,000 8 0 5 0
Location Rural Rural 0 Rural 0 Rural 0
Leasehold/Fee Simple Fee Simple Fee Simple 0 Fee Simple 0 Fee Simple 0
Site Size 0.5 Acres 1 Acres -7,500 0.43 Acres 1,050 0.83 Acres -4,950
View Residential Residential 0 Residential 0 Residential 0
Property Style Ranch/1 Story Ranch/1 Story 0 Ranch/1 Story 0 Ranch/1 Story 0
Quality of Construction Average Good -10,000 Average 0 Good -10,000
Year Built Age 1950 71 Yrs 1944 77 Yrs 1,200 1950 71 Yrs 0 1940 81 Yrs 2,000
Condition Average Good -10,000 Average 0 Good -10,000
Above Grade Total Bdrm F B A H B A Total Bdrm F B A H B A Total Bdrm F B A H B A Total Bdrm F B A H B A
Room Count 5 2 1 0 5 2 1 0 0 5 2 1 0 0 5 2 1 0 0
Gross Living Area 1,222 SqFt 1,315 SqFt -11,160 1,144 SqFt 9,360 1,038 SqFt 22,080
Basement Basement Type Y Walkout N 2,000 Y Walkout 0 N 2,000
Basement Area Finished 188 SqFt 0 SqFt 0 SqFt 0 SqFt 2,000 491 SqFt 0 SqFt -3,000 0 SqFt 0 SqFt 0
Car Storage # of Spaces None 0 Carport 2 -1,000 Detached 0 0 None 0 0
Fence Fireplace N Y N Y 0 N Y 0 N Y 0
Pool Pool Type N N 0 N 0 N 0
Heating/Cooling Central Heat Central Heat -5,000 Central Heat -5,000 Central Heat -5,000
Amenities Porch Single Wide and Barn -20,000 Porch Porch
Net Adjustment (Total) Most Similar to Subject $ -69,460 Most Similar to Subject $ 2,410 Most Similar to Subject $ -3,870
Adjusted List Price $ 230,540 $ 242,310 $ 291,130
Comparable Listing Comments
This property is a dream! Home, Investor or income. Located in the popular area of South Asheville, this home has easy access to everything Asheville. A charming bungalow with ample
Listing #1 outdoor living. Potential at this one. Sit back and relax on your beautiful deck, or cozy up at night around the fire pit. The property features a BARN, CREEK and 2 outbuildings and more. Enjoy
the convenience of a small farm. This listing is full of potential. New survey available & floor plan. Located on a quiet dead-end street. See survey large acreage copy available on site.
Sitting on an oversized lot [almost 1/2-acre!] in Arden's Oak Park, this charming fixer-upper is loaded with potential. Perfect for a starter home or an investment property, this 2-bedroom/1-
Listing #2 bathroom home is a blank canvas ready for your personal touch. Featuring a wood stove in the great room, large decks for outdoor enjoyment, and an almost flat yard with so many possibilities
for a personal oasis
A South Asheville dream! Perfectly located on the corner of Mills Gap and Lower Christ School Road this beautiful, FULLY UPDATED, cottage is the one you've been looking for! Situated in the
Listing #3 center of a level .83 acre lot with ample outdoor potential for a garden or detached garage to be added. Current owners have updated the entire interior with a new kitchen, pocket doors, and
upgraded bathroom. Original hardwood floors have been restored to their original glory. Less than 10 minutes to South Asheville restaurants, breweries and shopping! This property is known

MARKET VALUE (The value must fall within the indicated value of the Competitive Closed Sales)

(90-120 Day Value) Market Value Suggested List Price (0-90 Day Value) Market Value Suggested List Price
AS-IS $ 196,000 $ 200,000 AS-IS $ 194,000 $ 195,000

REPAIRED $ 196,000 $ 200,000 REPAIRED $ 194,000 $ 195,000

Fair Market Rent Subject

(monthly income) Land Value
$ 1,400 $ 53,800

Comments
Describe and justify your recommended marketing strategy - As-Is or Repaired.
(Include specific positives/negatives and/or concerns, encroachments, easements, water rights, environmental concerns, flood zones, etc.)
The subject looks to be in average condition and no visible repairs were seen during the inspection. No concerns. Subject is typical for the area. The subject address with mailbox is well inside the
driveway and not readable from the street. The subject was located by GPS and identified by tax maps and the photo on the tax card

Michael Heaton 06/01/2021 191009

Signature Date License #

This is an opinion of price and is not a certified appraisal of the market value of the property. If such an appraisal is desired, the service of a certified appraiser must be obtained.
© 2016 Consolidated Analytics, All Rights Reserved BPO (2016)
 BROKER PRICE OPINION File # [ 2988348.1 ]
SUBJECT PHOTOGRAPHS

FRONT VIEW ADDRESS VERIFICATION

FRONT VIEW (LEFT SIDE) FRONT VIEW (RIGHT SIDE)

STREET VIEW #1 STREET VIEW #2

© 2016 Consolidated Analytics, All Rights Reserved BPO (2016)

 BROKER PRICE OPINION File # [ 2988348.1 ]
COMPARABLE PHOTOGRAPHS

COMPARABLE SALE #1 COMPARABLE LISTING #1

Front View Front View

334 Mills Gap Road 35 Chapel Hill Church Road
ASHEVILLE, NC 28803 Asheville, NC 28803

COMPARABLE SALE #2 COMPARABLE LISTING #2

Front View Front View

419 Jackson Road 10 Fair Oaks Road
Fletcher, NC 28732 Arden, NC 28704

COMPARABLE SALE #3 COMPARABLE LISTING #3

Front View Front View

97 Cromer Drive 942 Mills Gap Road
Fletcher, NC 28732 Fletcher, NC 28732

© 2016 Consolidated Analytics, All Rights Reserved BPO (2016)

 BROKER PRICE OPINION File # [ 2988348.1 ]
MAPPING

LOCATION MAP

AERIAL MAP

LEGEND

## Property Address Proximity Sale/List Price Sale/List Date GLA Price/GLA

S Subject 342 MILLS GAP RD , ASHEVILLE, NC 28803 ----- ----- ----- 1,222 SqFt -----

S1 Comparable Sale #1 334 Mills Gap Road, ASHEVILLE, NC 28803 0.06 mi NW $200,000 03/24/2021 1,104 SqFt $181.16

S2 Comparable Sale #2 419 Jackson Road, Fletcher, NC 28732 4.56 mi S $211,500 05/21/2021 1,216 SqFt $173.93

S3 Comparable Sale #3 97 Cromer Drive, Fletcher, NC 28732 4.15 mi S $199,000 05/01/2021 1,351 SqFt $147.30

L1 Comparable Listing #1 35 Chapel Hill Church Road, Asheville, NC 28803 4.65 mi N $300,000 02/12/2021 1,315 SqFt $228.14

L2 Comparable Listing #2 10 Fair Oaks Road, Arden, NC 28704 2.82 mi S $239,900 05/24/2021 1,144 SqFt $209.70

L3 Comparable Listing #3 942 Mills Gap Road, Fletcher, NC 28732 2.26 mi SE $295,000 05/10/2021 1,038 SqFt $284.20

© 2016 Consolidated Analytics, All Rights Reserved BPO (2016)

 BROKER PRICE OPINION File # [ 2988348.1 ]
TEXT ADDENDUM

The interior condition is not known and may affect the final sales price.

© 2016 Consolidated Analytics, All Rights Reserved BPO (2016)