You have been asked to use the sales comparison approach to determine the market value of a single-family residence that is in a high crime area. The house has 2 bathrooms and a pool. To perform your analysis you have obtained the following comparables:
Comparable 1: Located in a low crime area with 2 bathrooms and no pool. Recently sold for $170,000.
Comparable 2: Located in a low crime area with 3 bathrooms and no pool. Recently sold for $185,000.
Comparable 3: Located in a high crime area with 3 bathrooms and no pool. Recently sold for $135,000.
Comparable 4: Located in a low crime area with 2 bathrooms and a pool. Recently sold for $180,000.
What is the value of the subject property?
a. $120,000b. $130,000c. $135,000d. $140,000e. None of the above (show work)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “You have been asked to use the sales comparison approach to determine the market value of a single-family residence that is in a high crime ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Were there more exports or imports?
Answers (2)
The market has an expected rate of return of 12.6 percent. The long-term government bond is expected to yield 4.8 percent and the U. S. Treasury bill is expected to yield 2.7 percent. The inflation rate is 3.2 percent.
Answers (1)
Select the budget that would most quickly achieve the financial goal of saving $6000 for college tuition.
Answers (1)
if you are married and want to deduct charitable contributions from your adjusted gross income which tax form should you use. Hurry
Answers (1)
Consultants notified management of Goo Goo Baby Products that a crib toy poses a potential health hazard. Counsel indicates that a product recall is probable and is estimated to cost the company $4.8 million.
Answers (1)
New Questions in Business
If Malcolm shorts 500 shares of a stock priced at $15 per share, how much profit or loss will he realize for each $1 change in stock price? Select the best answer from the choices provided. A. $15 B. $33 C. $500 D. $7,500
Answers (1)
Hevesy Inc. produces and sells a single product. The selling price of the product is $200.00 per unit and its variable cost is $80.00 per unit. The fixed expense is $300,000 per month. The break-even in monthly unit sales is closest to: a. 2,500 b.
Answers (1)
There is only one small clothing store in the remote village of hooterville, and until recently all of the townspeople bought most of their shirts there.
Answers (1)
Each unit of a product requires 5 components. The average number of components is 5.50 due to component failure. Purchasing higher quality components can reduce the average number of components to 5 per unit. The cost per component is $450.
Answers (1)
What is Average cost
Answers (1)