Rosa is preparing the sales comparison grid for a 1,900-square-foot subject property with no deck. Comparable Sale 1 sold for $412,000, has 2,000 square feet, and has a deck. Market data support a $40-per-square-foot adjustment for gross living area and an $8,000 adjustment for a deck. What is the comparable’s adjusted sale price?
Correct Answer
D) $400,000
Step 1: Gross living area difference = 2,000 - 1,900 = 100 square feet. Step 2: GLA adjustment = 100 × $40 = $4,000. Step 3: The comparable is superior because it has more living area and a deck, so both adjustments are subtracted. Step 4: Total downward adjustment = $4,000 + $8,000 = $12,000. Step 5: Adjusted sale price = $412,000 - $12,000 = $400,000.
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