3 Answers

$420.11/sq.ft.

That is a beach shack.

You need to break it down a little more, melman.  As doolittle would say, the "shack" could end up costing you $175 per square foot for the "shell" under-roof portion of the property, plus all the improvements inside, say $100 more per square foot.  The $275 X  976 (square footage of the cottage) or $268m $268,400.  This would be your replacement cost of the under-roof portion.  To find out the value of the land, assuming it's fee simple, you would take $411,000 - 268,400, or $142,600. If the value of the land that the cottage sits on seems too low, take a look at the condition of the house and discount the value accordingly if it is not in excellent condition.