Question

In: Finance

You have been asked to estimate the value of a home for sale. The subject property...

You have been asked to estimate the value of a home for sale. The subject property has three bedrooms, one bathroom, and is in good condition. A highly comparable property just sold near the subject recently. You will use this recent sale as the comp to estimate value of of the subject property. The comp sold for $134,000. It has three bedrooms, two bathrooms, and is in good condition. Assume bedrooms are worth $5,000 and bathrooms are worth $3,000. What is the indicated value of the subject property based on the comparable sale?

Solutions

Expert Solution

Comparable property value is 134,000 which has one bedroom more than property under consideration.

Bath room value is 5000

Property value then = 134,000 - 5,000 = 129,000

Answer is:

129,000

Please rate.

jeff jeffy answered 2 years ago
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