Property Valuation
In a Minnesota comparative market analysis, an appraiser finds a comparable home sold for $310,000 but it has an extra bathroom worth $8,000 compared to the subject property. What adjusted value is used?
A$318,000
B$302,000✓ Correct
C$310,000
D$315,000
Explanation
When a comparable has a feature the subject lacks, subtract the value from the comparable. Adjusted value = $310,000 - $8,000 = $302,000. This adjustment makes the comparable equivalent to the subject for comparison purposes. This is standard appraisal methodology used throughout Minnesota.
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