How to objectively estimate a properties relative value

[Dean D.]

I apologise if this post is a bit long winded, however, I am starting to look at my first home purchase (will be house hacking as per Set For Life by Scott Trench). As such, I am trying to understand how to objectively estimate a properties value relative to the area - I want to stress both the objectiveness and relativeness of this. Naturally as I am not a realtor, I cannot estimate a properties value, but I would like to do (in some way) is estimate its relative value.

With this approach I am thinking I can bring facts to the table when I find a place I like and want to negotiate on price (which I will leave for another post). Questions, or measurables that I can quantify, are things like:

i) cost per square footage

ii) no. bedrooms

iii) distance from public transport

What are other measurables around property purchases? And also, what are key questions to ask the property agent when viewing?