Property Valuation Worksheet

PROPERTY VALUATION WORKSHEET



FOR EXISTING PROPERTIES: FOR NEW CONSTRUCTION:

Step 1- Avg. Sales Price Step 1- Cost of Land

Find the sales price for 3 properties that have recently sold in the Determine the cost of land (Total Square Footage x Estimated Cost

area (within six months). Per Square Foot).

Sales Price

Property #1: $ 210,000 Total Square Footage: 2,000

Property #2: $ 200,000 x

Property #3: $ 199,000 Cost Per Square Foot: $ 45

Avg. Sales Price $ 203,000 =

Total Land Cost $ 90,000



Step 2- Adjusted Sales Price Step 2- Cost of Construction

Determine the cost of construction (Total Square Footage x

Adjust the Sales Price of the property of interest for the following: Estimated Cost Per Square Foot).



Property of Interest Total Square Footage: 2,000

Sales Price $ 215,000 x

Construction Cost Per

Avg. Sales Price $ (12,000) Square Foot: $ 70

# of bedrooms $ 5,000 =

# of bathrooms $ (1,500) Total Construction Costs $ 140,000



Adjusted Sales Price $ 206,500



Step 3- Maintenance, Repair and Clean-Up Costs Step 3- Additional Costs

Estimate the required maintenance, repair and clean-up costs (if Determine additional costs associated with new construction

any). (special features, upgrades, inflation, unforeseen issues)







Item Cost Item Cost

Plumbing $ 1,500 Vaulted Ceilings $ 10,000

New Carpet $ 3,000 Window Quantity $ 5,000

Window Repair $ 1,500 Inflation (3%) $ 6,900

New Furnace $ 4,500 Other $ 9,500

Total $ 10,500 Total Additional Costs $ 31,400



Step 4- Property Valuation for Existing Property Step 4- Property Valuation for New Construction

Subtract Maintenance, Repair and Clean-Up Costs (Step 2) from Add Total Land Cost (Step 1), Total Construction Costs (Step 2), and

the Adjusted Sales Price (Step 3). Total Additional Costs (Step 3).



Adjusted Sales Price $ 206,500 Cost of Land $ 90,000

- +

Maintenance, Repair & Construction Costs $ 140,000

Clean-Up Costs $ 10,500 +

= Additional Costs $ 31,400

=

Property Valuation $ 196,000 Property Valuation $ 261,400



Do Not Edit Gray Shaded Values





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