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You have been asked to use the sales comparison approach to determine the market value...

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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 subject property has 3 bedrooms and a screened in porch. To perform your analysis you have obtained the following comparables: Comparable 1: Located in a low crime area with 3 bedrooms and no screened in porch. Recently sold for $170,000 Comparable 2: Located in a high crime area with 4 bedrooms and no screened in porch. Recently sold for $150,000 Comparable 3. Located in a low crime area with 3 bedrooms and a screened in porch. Recently sold for $175,000 Comparable 4: Located in a low crime area with 4 bedrooms and no screened in porch. Recently sold for $175,000 Using the comparables given above, how much does a 4th bedroom add to the value of a house? $0 $20,000 $5,000 $15,000 None of the above

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