Comparable Sale (Comp)
A recently sold similar property used to estimate your property's value.
Comps are the foundation of any property valuation. A good comp is a similar property (same bed/bath count, similar square footage, same neighborhood) that sold recently (within 6 months, ideally 3). You adjust for differences: a comp with a garage when yours doesn't have one means you deduct that value. The median of 3-5 adjusted comps gives you a defensible ARV.
In full analysis, you can enter rent comps in the Market section. Kaison calculates the median and flags your estimate if it deviates significantly from the comp median.
You find 4 comps: $205K, $212K, $218K, $225K. Median: $215K. You set ARV at $220K (above median). Kaison won't reject this but will note 'Above comp median' as a factor in your confidence assessment.
Agents and appraisers have different comp standards. For quick screening, Zillow/Redfin sold data works. For making offers, pull MLS comps through your agent. Never rely on Zestimates as your ARV.
Educational content only. Consult a CPA or attorney for advice specific to your situation.