Buying first home (condo) - short sale value?

[Nathan Thompson]

I have an offer in and approved for a condo in my area that I would be living in, while renting out the other rooms. I live in the DC metro area. This condo is 1157 sq feet and other units that have sold in the area sold for 145k each, with one being a foreclosure and the other being a short sale, both are about 100 sq feet smaller.

In this complex, there haven't been any regular sales in the last year. The last regular sales I've seen in these buildings was a little over a year ago and those sold for about 230k.

How would you go about valuing a property like this? Just go off the short sales? Or assume that the value is somewhere in the middle?