Flip 3/2 with Master suite or 4/2?

[Jason Haase]

Is there more value in a 4 bedroom/2 full bath or a 3 bedroom w/master suite?  

Renovating a 1950s brick rancher with limited space.  It would be a simple matter to combine 2 smaller bedrooms and existing bath into a spacious master with a generous walk-in closet or we could leave the floorplan as-is with 4/2 and no master suite. Thoughts?  

Comps are showing 3/2s and 4/2s at nearly the same $/sqft. I'm inclined to go with 3/2 w/ master...