I created an Excel spreadsheet and began analyzing each zip code of my city for neighborhood, age of house, condition, square footage, rooms, baths, exterior building materials, slab vs. crawl space, garage, basement, etc. and then compared it to asking price, selling price, and time on the market.

A month ago, realtors near downtown Colorado Springs were telling me that there is a big price drop between 3/2s and 2/1s to the point where adding square footage paid for itself and then some.

.#1 The Market Mix - The original builders could have varying floor plans, varying square footage's and varying stories however the overall neighborhood could also have varying home types such as Single Family Detached, Townhomes or some Multi-Family homes.#2 Randomness - We can not control what neighborhoods homeowners/investors have decided to completely repair/renovate which means that all neighborhoods will have drastically varying degrees of condition especially as these neighborhoods get "older".With that said here are the characteristics and data points you must "compare" in order properly analyze the ARV of a property.In no particular order:#1 Condition#2 Bed#3 Bath#4 SqFt#5 Lot SqFt#6 Age/Year Built#7 Relative Distance#8 Relative Sold Date#9 Property Type#10 Stories#11 Location - Near busy street/main road, power lines, canal, industrial buildingsSo basically just find 3 properties that closely match your property that have already been "fixed up".

agree with @Joshua Poitras 100% correct - you touch too much of the building sq footage and get ready to add at least 30k for a sprinkler and patching all their holes in your ceiling (if you can even salvage it at that point)long form vs. short form  - you only need a short form.  

We did a $60k remodel and when we refinanced it 1 year later he only increased the value by a small amount because the square footage didn't change.

I'm pretty sure its based on square footage of the space but multiplied by what?

Square footage could have a huge cost variance or no cost variance.

Seems like the Cincinnati MLS has several strange quirks- no zip codes, no square footage, and the extra step for exporting records.

Have a duplex renting for 2300 a month but is small in square footage.

Its is figure off the square footage?