I think alot of the answer depends on your intent when purchasing the original property and numerous other factors as outlined in this article;Forbes Article on Cap Gains vs IncomeI would recommend getting a trusted tax advisor involved sooner rather than later. 

Please post the property address as this link leads to a session timeout error.

Amit, I have done numerous frame work.

You have to be careful about this throughout the City of Indianapolis, but I have seen it specifically in this neighborhood on numerous occasions.

What's the real margin of error?

Here's another suggestion that I have forgot to mention numerous times previously. 

They will usually list numerous places and you should be able to get a good sense of the market.

If you believe that it was denied in error, please contact the owner/property manager.

He's been warned by the landlady and the police, numerous times, to leave me be, and has yet to do so. 

It gives me the assessors numeric code for the particular property.