Comparable Sales (Comps)
Definition
Comparable sales (comps) are closed transactions of properties similar to the subject — by location, size, age, condition, bed/bath count, and lot — used to triangulate a fair market value. Comp quality drives ARV quality: a thin or non-parity comp set is the single most common source of fix & flip mispricing.
Worked example
For a 3-bed, 2-bath, 1,800 sqft renovated SFR, ideal comps are renovated 3/2 SFRs of 1,700–1,900 sqft sold within 0.5 miles in the last 90 days. Five high-parity comps produce a tight ARV band; one comp produces a guess.
How DealIntel uses it
DealIntel runs a confidence-weighted comp engine that filters by recency, distance, size, and renovation parity, and reports a 'comp confidence' score on every ARV. Low-confidence comp sets trigger a Kill List flag for the user to manually verify.