Question

The subject property is a four-bedroom, two-bath, two-car-garage home in a new subdivision. Comp A is a three-bedroom, two-bath home with a screened-in porch that sold for $365,500. The appraiser values the porch at $12,500 and estimates the bedroom adjustment at $22,000. What is A's adjusted sale price?

Answer 1

Answer: $375,000

Explanation:

Given : The subject property is a four-bedroom, two-bath, two-car-garage home in a new subdivision.

Comp A is a three-bedroom, two-bath home with a screened-in porch that sold for $365,500.

I.e. It has one less bedroom and one extra porch .

i.e. It requires to add one bedroom and remove screened-in porch .

Since ,The appraiser values the porch at $12,500 and estimates the bedroom adjustment at $22,000.

So , the A's adjusted sale price would become

Selling price of Comp A + Value of bedroom - Value of porch

= $365,500 + $22,000- $12,500

= $375,000

Hence, A's adjusted sale price= $375,000