How many comps do you need?

Aim for 3–6 strong comparable sales. Fewer than three gives a thin, unreliable estimate; more than six usually means you're reaching beyond truly comparable properties.

Where do you find comps?

The MLS is the gold standard (via an agent or investor tool). Public records and major listing portals also show recent sold prices, though with less detail and sometimes a lag.

Can you run comps without an agent?

Yes — public records and listing sites show sold data, and investor tools pull comps directly. An agent's MLS access gives the most accurate, current data, but you can build a solid estimate on your own.

Deal Analysis

How to Run Comps Like an Investor (Beginner's Guide)

Comps are how every appraiser, agent, and investor prices a home. Here's the investor's version.

June 15, 2026 · 6 min read

Quick answer

To run comps, pull 3–6 sold comparable homes within about half a mile, sold in the last 90 days, similar in size, beds, baths, and condition. Then adjust their sale prices up or down for differences from your subject property. The adjusted average is your supported value estimate.

What "comps" are

Comparable sales — comps — are recently sold properties similar enough to your subject home that their sale prices indicate what yours is worth. Investors use comps two ways: to estimate the as-is purchase value and, more importantly, to estimate the after-repair value (ARV) by comparing against renovated homes.

The four filters that matter

Filter	Target	Why
Distance	≤ 0.5 mile	Values shift by neighborhood and school zone
Recency	Sold ≤ 90 days	Reflects the current market
Size	± ~20% sq ft	Price per foot stays comparable
Condition	Matches your end product	Renovated comps for ARV; as-is for purchase

Adjusting comps

No two homes are identical, so you adjust. If a comp has one more bathroom than your subject, subtract its estimated value from that comp's price. If your subject has a garage the comp lacks, add value. The goal is to restate every comp as if it were your property, then average the adjusted figures into a supported value.

Use closed sales, not active or pending listings. List prices are asks; only closed sales tell you what buyers actually paid.

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Frequently asked questions

How many comps do you need?: Aim for 3–6 strong comparable sales. Fewer than three gives a thin, unreliable estimate; more than six usually means you're reaching beyond truly comparable properties.
Where do you find comps?: The MLS is the gold standard (via an agent or investor tool). Public records and major listing portals also show recent sold prices, though with less detail and sometimes a lag.
Can you run comps without an agent?: Yes — public records and listing sites show sold data, and investor tools pull comps directly. An agent's MLS access gives the most accurate, current data, but you can build a solid estimate on your own.