To determine the estimated reproduction cost of a subject building using the square-foot method, what must the appraiser multiply by the square footage of the living area?

To find the estimated reproduction cost of a subject building using the square-foot method, the appraiser must multiply the square footage of the living area by the cost per square foot of a recently constructed comparable structure. This approach is based on the principle that the cost to reproduce a property can be derived from known costs of similar properties in the market.

Using recently constructed comparables provides a relevant and current basis for estimating costs, as it reflects contemporary construction practices and materials. This method ensures that the appraiser accounts for the inflation in construction costs while also considering what similar properties are fetching in the market. The resulting figure helps to accurately estimate what it would cost to reproduce the subject building in today's market conditions, thus providing an essential data point for overall appraisal valuations.

In contrast, the costs associated with land, total labor and material costs without a comparison to recent properties, or depreciation values do not directly facilitate a straightforward calculation of the reproduction cost using the square-foot approach, as they serve different aspects of property valuation.