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1 <br /> N <br /> _ COST APPROACH TO VALUE; <br /> In this approach the current costs of replacing the structure are <br /> estimated. The resulting value is then depreciated for physical , <br /> economic and functional factors . The resulting_ value is the current <br /> estimated value of the structure which is then added to the value of <br /> the lot which hsa been determined by the market data approach to <br /> obtain an estimated value of the whole property. . <br /> 900 sa. ft . x $35. 00 per sq. ft . = $ 31 ,500 <br /> less 85% depreciation -26, 775 <br /> depreciated value of structure 4. 725 rounded = $4, 700 <br /> lot value 5, 900 <br /> total value $104600 <br />