Having an accurate after repair value (ARV) estimate is important to correctly calculate long-term returns for rental properties and profit for flips & rehab projects.
DealCheck makes it easy to view recent sales comps for each property, their average sale price, as well as the estimated ARV of the property you're analyzing based on its comps and characteristics.
How to View Sales Comps & ARV Estimates
Step 1: Open the Sales Comps & ARV Page for a Property
Go to one of your properties and click the Sales Comps & ARV link from the menu on the left side:
Step 2: View Recent Comparable Sales
You'll see a list and a map of up to 20 recent sales comps, including their address, description, distance and sale information:
Please note that you are limited to viewing 5 comps with our free plan. Upgrade to DealCheck Plus or Pro to view the full list.
Step 3: View Sale Statistics & ARV Estimates
In addition to a list of comps, you'll see their average sale price, an automated valuation estimate of the subject property, and the estimated ARV of the subject property based on its living area and the average price per square foot of its comps:
Tip: You can update the current ARV of the subject property right on this page, based on the estimates available to you.
Step 4: View Additional Information for Each Comp
You can click on each comparable property from the list to view additional information, details and photos of that property:
How to Add, Edit & Customize Sales Comps
With the DealCheck Pro upgrade, you can select which comps are included in the estimated ARV calculations, edit the information of comps imported automatically, as well as add comps manually.
Selecting Comps to Use in Calculations
You can control which comps are used for calculating the ARV estimates at the top of the page by checking or unchecking the checkbox next to them.
This is useful for fine-tuning the list of comps to include only those that most closely match the subject property:
Updating Comparable Information
If the details or sale price of any of the comps imported automatically are missing or are inaccurate, you can click on that comps and quickly update any of the information yourself:
Adding Comps Manually
Finally, if you'd like to use your own comps that you have from other sources, you can click the Add button at the top of the comps list and enter their information manually.
Comps added manually will be included in the estimated ARV calculations, just like comps that were imported automatically.
Adding Sales Comps to Your Property Reports
You can include a page with the recent comparable sales and ARV estimates when you create and export reports for each property.
To enable this, turn on the Include Sales Comps toggle under Report Sections:
The next time you generate a report for that property, you'll see sales comps added on a separate page:
Note: The above screenshots were taken from our online app, but the same features can be found in our iOS and Android apps as well.