What term describes the construction cost at current prices of an exact duplicate of the subject property?

The term that best describes the construction cost at current prices of an exact duplicate of the subject property is reproduction cost. This concept focuses specifically on the expenses associated with creating an identical replica of the property, taking into account contemporary material and labor costs.

Reproduction cost emphasizes the fidelity of the duplicate to the original in both design and craftsmanship, reflecting how much it would cost to recreate the property with the same specifications, features, and quality. This is particularly relevant in the context of historic properties where maintaining authenticity is crucial.

While replacement cost refers to the cost of constructing a property that serves the same function but may not replicate the exact design or materials, appraised value pertains to the estimated worth of the property based on various factors, and intrinsic value generally reflects the inherent worth independent of market conditions. Understanding these distinctions is essential for evaluating properties accurately in real estate.