How Our Comps Tool Works:
FlipperForce's real estate comps software takes the guesswork out of forecasting your ARV. It automatically pulls a list of recent comparable sales that match your subject property, lets you pick the best comps and drop the bad ones, and calculates the average price per square foot so you can predict what your finished flip will sell for. When you are done, generate a professional Comparative Market Analysis report to back up your ARV with your business partners and lenders.
What Are Real Estate Comps?
Real estate comps, short for comparable sales, are recently sold properties similar to the one you are analyzing. Flippers use comps to forecast the After Repair Value, the price your property should sell for once it is fully renovated. Your ARV is the single most important number in a deal, because every offer formula is built on it, so getting your comps right is what separates an accurate analysis from a costly guess.The best comps share a few things with your subject property:
- Location. As close as possible, ideally the same neighborhood or subdivision.
- Size. Similar square footage, bedroom, and bathroom count.
- Age and style. A similar year built and home style.
- Condition. Renovated comps that match your finished product, not distressed sales.
- Sale date. Sold within the last three to six months, so the data reflects the current market.
Once you have a set of strong comps, you average their price per square foot to forecast your subject property's value. Our comps tool does this automatically. To go deeper on the method, see our guide on
how to calculate the After Repair Value.
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