A comparable residential property sold one month ago for $300,000. If this comparable is on a busy street and the subject property is on a quiet corner lot, what should you do to determine the subject property's market value?

To determine the subject property's market value, the key is to compare the two properties in terms of desirable characteristics, such as location. Since the comparable property is located on a busy street, it likely has less appeal to buyers compared to a property situated on a quiet corner lot. A property on a busier street often faces drawbacks, such as noise, traffic congestion, and potentially lower desirability, which can affect its sale price.

Given the advantage of the subject property’s location in a quiet area, the market value for the subject property should reflect these differences. By adjusting the comparable's price upwards, you recognize that the subject property is more attractive to potential buyers. This upward adjustment accounts for the enhanced value of the subject property due to its preferable location.

The other options do not align with this reasoning; leaving the price unchanged ignores the locational advantages of the subject property, while consulting a property appraiser is unnecessary when a comparative analysis can guide the valuation process.