JB PARCELPrice Per Square Foot Calculator
Price per square foot is the fastest way to compare a property to its comps and the easiest number to misuse. This separates building from land so the comparison actually holds.
How this calculator works
Price per square foot is price divided by finished area. The standard residential basis is above-grade finished square footage, which is why a finished basement usually does not count at full value and often appears as a separate line in an appraisal. This calculator lets you add unfinished or below-grade area at a discount so you can see both the standard number and a more complete one.
The comparison only holds inside a tight band. Same neighborhood, similar age, similar size. Smaller houses carry a higher price per foot than larger ones nearby, because the kitchen, the baths, and the systems cost about the same regardless of how many square feet surround them. Comparing a 1,200 square foot house to a 3,400 square foot house on price per foot will mislead you every time, even on the same street.
Splitting out land and garage is what makes the number useful on a deal rather than just descriptive. Two houses at $182 per foot are different investments if one sits on a quarter acre and the other on two acres. Pull the assessor's land value from the parcel record and back it out to get an improvement-only figure, which is the number that actually compares construction to construction.
One thing this number cannot do is set a rehab budget. Sale price per square foot and construction cost per square foot are unrelated measurements that share a unit. Use the rehab budget calculator for scope.
Worked example: a Franklin comp check
$389,000 asking, 2,140 finished square feet, comps in the neighborhood at $192 per foot.
| Price per finished square foot | $181.78 |
|---|---|
| Value at the comp price per foot | $410,880 |
| Gap | $21,880 in your favor |
| Land value from the assessment | $70,000 |
| Improvement value per square foot | $141.25 |
Roughly five percent under the comp, which is within normal range but worth a look. The next question is why: dated kitchen, busy street, smaller lot, or a real opportunity. Price per foot points you at the question. It never answers it.
Questions investors ask
Should price per square foot include the basement?
Not in the standard number. Appraisers use above-grade finished area for the headline figure and value below-grade space separately, typically at a third to two thirds of above-grade value depending on finish, walkout access, and light. Enter it in Advanced options to see an effective square footage that reflects it, but keep using the above-grade number when comparing to published comps.
Why do smaller houses cost more per square foot?
Because the expensive parts do not scale. A kitchen, two baths, a furnace, a roof, and a foundation cost roughly the same on a 1,200 square foot house as on a 2,400 square foot one, and there are half as many feet to spread them across. This is why comparing across size classes is misleading and why appraisers adjust for gross living area rather than relying on the ratio.
Is price per square foot useful for commercial property?
For a quick comparison of similar buildings, yes, and it is the standard unit for construction cost and for lease rates. For valuation, no. Commercial value comes from income, and two buildings at the same price per foot can be worth very different amounts based on their leases. Use it as a sanity check alongside cap rate, not instead of it.
How do I find price per square foot comps?
Use sold comps only, closed within the last six months, within about half a mile, similar age, and within roughly twenty percent on size. Pull recent sale prices and building square footage for nearby parcels on the JB PARCEL map, then have an agent who works the neighborhood check your set. Three good comps beat twenty mediocre ones.
Can I use this to estimate ARV on a flip?
As a starting point, yes, and it is how most investors sketch an ARV. Take the price per foot that renovated houses in the neighborhood sell for and multiply by your subject's square footage. Then adjust for lot, layout, garage, and whether your finish level will actually match theirs. Verify the result against specific sold comps before you use it in the MAO calculator, because ARV error is the most expensive mistake in flipping.
Related calculators
Screening a real property? Pull its appraised value, assessed value, acreage, land use, and last recorded sale off the JB PARCEL parcel map and drop the real numbers into this calculator instead of guessing. Coverage runs across every county we carry.