ANSWER:
– It is difficult to do what you want to do, and comply with USPAP and the assignment conditions for a 50 Percent Rule appraisal, because there is no form report designed for the intended use of reporting a 50 Percent Rule appraisal.
Start by downloading a copy of The ACV Guidebook. Review Guidebook chapters 2 & 3 and read chapter 8.
Best results will be achieved if you build a narrative template and adapt as other 50 Percent Rule assignments come along.
If you must use a form report, then fill out only the sections that apply (see the final bullet list in Guidebook chapter 8), be sure to correctly fill the fields for client, intended users, and intended use (see Guidebook chapter 3), and prepare an addendum page containing the value definition for ACV (also chapter 3).
The Guidebook has detailed “how to” information to help with valuation methodology. Don’t use the cost approach block in the form report. Prepare a separate reproduction cost summary built on the requirements discussed in Guidebook chapter 6. Be sure to include a copy of the detailed cost system output report.
Develop a physical deterioration estimate consistent with the discussions in Guidebook chapter 7 utilizing the Physical Life Calculator and don’t forget to account for deferred maintenance. Put a copy of the Physical Life Calculator forecast in the appraisal report and show your calculations.
Finalize the ACV appraisal results on an addendum page this way:
Building Reproduction Cost $xxx,xxx
Less: Physical deterioration ( xxx,xxx)
Actual Cash Value $xxx,xxx
When you’ve done this, you’ve done most of what’s required to write a narrative report.