Question
The subject home sits on 1.2 acres, is 3,300 sf of livable space and is located in a cul de sac. Comp 1 sold for
The subject home sits on 1.2 acres, is 3,300 sf of livable space and is located in a cul de sac. Comp 1 sold for $735,000 is on 1.1 acres, is situated on a cul de sac and has 3,200 sf of livable space. Comp 2 sold for $800,000 is on 1.3 acres, is not situated on a cul de sac and has 3,400 sf of livable space. Comp 3 sold for $785,000 is on 1.25 acres, is situated on a cul de sac and has 3,250 sf of livable space. Your research suggests that being on a cul de sac is worth $40,000, livable space is worth $300 /sf and additional land is worth $250,000 per acre. Based on this information, what are the adjusted sales prices for the comps and what would these suggest for a price for the subject?
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