Valuing a 2/1 house when all comps are 3/2 (Phoenix Market)

[Asim G.]

Hi,

I have come across a property that is 2/1 (~1050 sq ft). It is located on a 7800 sqft lot size. Most of the homes in the subdivision are 1350 sqft 3/2, and all the comps available are for the 3/2 floorplan. The 3/2 floor plans have sold for $140K in the past 6 months.

My question is how should I use the available comps to arrive at a market value for the 2/1. I understand the 2/1 is not a desirable floor plan to start with, but wanted to educate myself on an objective way of analyzing such deals the way an appraiser would.