Home Appraisal Math: Sales Comparison Grid, Adjustments, Cost & Income Approaches

What you'll build

What you will be able to do

Each lab ends with a concrete result that you build yourself and the checker confirms, cell by cell.

• Compute price per square foot for eight recent sales, screen them by distance, age of sale and size, and get a first rough value for the subject from the usable comps.
• Fill a three-comp adjustment grid with line adjustments for GLA, bedrooms, garage and condition, and calculate each comp's adjusted sale price.
• Derive a monthly market trend from a paired resale, adjust each comp's price to today's market and combine it with the line adjustments from the grid.
• Total net and gross adjustments for four comps, express them as a percentage of the sale price and flag the comp that breaks the review guidelines.
• Weight the three adjusted prices by how little they had to be adjusted, reconcile them into one value, round it and measure how tightly the comps agree.
• Estimate the replacement cost new of house and garage, subtract age-life depreciation and functional obsolescence, value the land from three lot sales and add everything up.
• Extract a gross rent multiplier and a cap rate from four rented and sold homes, then value the subject with each method.
• Weight the three approaches into a final rounded opinion of value, show how far each approach is from it, write the report line with TEXT and chart the three indications.