What is the price per square foot for a house with an RCNLD of $102,000 and a total square footage of 1,945 SF?

To determine the price per square foot for a house, you divide the Reconstruction Cost New Less Depreciation (RCNLD) by the total square footage of the house. In this case, the RCNLD is $102,000, and the total square footage is 1,945 SF.

The calculation is performed as follows:

Price per square foot = RCNLD / Total square footage

Price per square foot = $102,000 / 1,945 SF

Price per square foot = $52.44

This value indicates how much each square foot of the house is worth based on its reconstruction cost, which is a crucial figure for appraisals and market analysis. The correct answer reflects the mathematical accuracy of this calculation, making it a vital concept in real estate appraisal practices where evaluating property value per unit of measurement is essential.