What is the estimated value of the property Land Shark is interested in?

• A. $1,389,000
• B. $1,500,000
• C. $2,000,000
• D. $1,200,000

Answer: (A)

Valuing a property from this scenario relies on combining market-based comparisons with adjustments for what makes this property unique. You start with recent sale prices of similar properties in the same area, then adjust for differences in size, condition, lot, improvements, and timing. If there’s income potential, you’d cross-check with the income approach or capitalization rate to corroborate the estimate. The final value is the reconciled outcome of these methods, representing what buyers would likely pay given the inputs described. The option that matches that described calculation is the one the scenario supports, while the other figures would require adjustments not aligned with the provided data.