How CompSheet builds your comps and one-sheet

CompSheet turns one address into a defensible deal one-sheet. Here is exactly what happens, step by step, and what every term means. Nothing is a black box.

Step 1: Find the property

You type an address. CompSheet sends it to the free US Census geocoder, which returns the location and the county it sits in. That county tells the tool which public records to read. In Southeast Michigan that is Wayne, Oakland, Macomb, or Washtenaw county.

Step 2: Pull comparable sales

The tool reads recent sold homes near the subject straight from county records. It keeps sales within about one mile and the last twelve months that are similar in size, bedrooms, and bathrooms. These are your comps. Each one lists sale price, sale date, square footage, and price per square foot.

Step 3: Adjust and value

No two homes are identical, so each comp is adjusted for size and features before it counts toward value. The after-repair value is then reported two ways so you can cross check it:

Median adjusted comp value. The middle value of the adjusted comps.
Blended price per square foot. The typical comp price per square foot multiplied by the subject size.

Step 4: Estimate repairs

Repairs are estimated by square foot at three levels: light at 15 dollars, medium at 30 dollars, and heavy at 50 dollars per square foot. Pick the level that fits the condition, or type a lump sum you already know.

Step 5: Set your maximum allowable offer

The maximum allowable offer is the most you can pay and still hit your margin. The standard formula is after-repair value times 70 percent, minus repairs, minus your assignment fee. You control the rule percent and the fee, so the offer matches how you actually buy.

Glossary

Comp: A comparable sale. A recently sold home near the subject, similar enough to inform value.
ARV: After-repair value. What the home is worth once it is fixed up to neighborhood standard.
MAO: Maximum allowable offer. The ceiling on what you should pay to protect your profit.
Assignment fee: What you earn for putting a deal under contract and passing it to an investor buyer.
Spread: The gap between what you pay and what the investor pays. Your gross profit on the deal.

Estimate, not an appraisal

CompSheet is an automated estimate from public records for research and decision support. It is not an appraisal or a broker price opinion. Verify every figure before you make an offer.