Subject Property Overview
- Address: 234 Princess Avenue, Cranston
- Unit Ttl Sq Ft MFM: 1,974 sq ft
- Unit Count: 2 units
- Year Built: 1920
- Beds Total: 4
- Lot Size: 5,750 sq ft
- Days on Market: 50
Comparable Sales Analysis
All comparables are 2-unit multi-family properties in Cranston, providing direct comparability to the subject property.
| Address | MLS # | Sq Ft | Sold Price | Price/SF | DOM | Lot SF | Year | Beds |
|---|
| 105 Princess Avenue | 1389820 | 2,250 | $605,000 | $268.89 | 0 | 3,049 | 1919 | 5 |
| 53 Sherwood Street | 1375747 | 1,620 | $490,000 | $302.47 | 106 | 3,049 | 1920 | 4 |
| 105 Overland Avenue | 1387925 | 2,568 | $602,000 | $234.42 | 9 | 7,049 | 1929 | 6 |
| 598 Laurel Hill Avenue | 1388457 | 1,640 | $455,000 | $277.44 | 43 | 4,792 | 1904 | 3 |
| 175 177 Florida Avenue | 1395490 | 1,900 | $566,000 | $297.89 | 4 | 4,792 | 1985 | 3 |
| 100 Garland Avenue | 1392990 | 2,024 | $520,000 | $256.92 | 23 | 6,636 | 1940 | 6 |
| 210 212 Crescent Avenue | 1398853 | 1,843 | $540,000 | $293.00 | 6 | 7,841 | 1920 | 5 |
Price Per Square Foot Summary
Valuation Calculations
| Method | Calculation | Estimated Value |
|---|
| Simple Average | 1,974 × $275.86 | $544,447 |
| Weighted Average | 1,974 × $272.91 | $538,725 |
| Median | 1,974 × $277.44 | $547,670 |
| Final Recommended Range | Based on Simple & Weighted Avg | $538,000 - $545,000 |
Market Analysis
- Size Positioning: The subject property's 1,974 sq ft ranks as the 4th smallest among the 7 comparables analyzed, and is 71 sq ft larger than the comparable average of 1,903 sq ft.
- Price-per-Sq-Ft Trends: Clear inverse relationship observed—smaller units achieved substantially higher $/sq ft. The smallest comparable (1,620 sq ft) achieved $302.47/sq ft while the largest (2,568 sq ft) achieved $234.42/sq ft, representing a 29% spread.
- Days on Market: DOM range of 0 to 106 days with an average of 27 days. Three properties sold in 0-9 days, suggesting strong buyer demand for well-priced listings. The subject's 50 DOM is 85% above average, indicating potential pricing or timing challenges.
- Lot Size Context: Subject lot (5,750 sq ft) falls in the middle range of comparables (3,049 - 7,841 sq ft). Lot size shows minimal correlation with $/sq ft in this dataset.
- Year Built: Subject (1920) aligns with 3 of 7 comparables built in the same era. Age appears neutral to value as the newest comparable (1985) did not achieve a significant premium.
- Direct Comparability: All comparables are 2-unit properties matching the subject's configuration, providing highly reliable valuation data with no adjustment required for unit count differences.
Estimated Market Value
$538,000 - $545,000
Based on 7 sold 2-unit multi-family comparables in Cranston with square footage ranging from 1,620 to 2,568 sq ft.
All data, calculations, and insights are derived exclusively from the attached CSV with no external information or assumptions.
