As of today, 09/19/2024, the estimated market value of
7 Mello Street, East Falmouth considering the above
2 comparable properties is
$511,255.
In estimating the current market value, RealtyInSite follows the sales comparison (market) approach which is an approach based on the principles of
supply and demand (principle of change) and the principle of substitution. The principle of substitution assumes that a prudent person will pay no
more for a property than it would cost to purchase a comparable substitute property.
Comparable sales data are applied to arrive at an estimate of value. By default, comparable properties are those properties located within 1 mile
of the subject property that have sold within the last 6 months and have a similar size of living area. The table shown above lists the comparable
properties that were considered. Note that which properties are considered comparables can be adjusted by varying the selection criteria or deleting
non-representative properties.