How to adjust a comp for sq ft?

[Hae-Yuan Chang]

Hello everyone !

I am finding out a market value for a 2103 sq ft, 1956 house that I want to purchase. It is in a lower income neighborhood. It's hard to find comps, but basically I found a home that was built in the same year, same neighborhood, but is 600 sq ft smaller. That home sold for $137,000. Though it looks decent from the outside, the inside was completely renovated and something that you would find in a higher income neighborhood. 

So how should I go about adjusting for the difference in sq. ft? I used a method of finding 2 homes that were sold in the last six months with very similar features, and came up with a $166 per sq ft difference in sold price. Should I do 166 x 600?

Appreciate any insight that you can give!