In this episode, I walk you through exactly how to run comps using free online tools—no MLS access required. Whether you’re evaluating a flip or rental, understanding how to analyze comparables is essential. I use a real property in a small Ohio village as a live case study and show you how to assess the market, evaluate potential resale values, and avoid common pitfalls.

From navigating Zillow filters to understanding how lot size, condition, and bathrooms affect pricing, this is a comprehensive, step-by-step guide for beginners and seasoned investors alike. If you’ve ever felt unsure about how to value a deal outside your local area or without MLS access, this episode is for you.

Episode Timeline:

[0:00] - Intro to running comps without MLS

[0:28] - Starting with a real property search on Google

[1:16] - How to define comparable neighborhoods

[1:42] - Understanding style and structure of nearby homes

[2:57] - Getting base info from Zillow and what to watch out for

[4:13] - Using Zillow’s map overlay for quick value insights

[5:22] - The problem with active listings as comps

[6:13] - Spotting unfinished flips and interpreting pricing

[7:09] - Filtering out non-comparables like multifamily homes

[10:05] - Setting square footage ranges to narrow results

[11:44] - Evaluating condition and work needed on subject property

[12:09] - Finding neighboring sales and checking sale dates

[13:35] - Why age of comp data matters

[14:25] - Identifying market value ranges for different property types

[17:02] - Digging into why certain homes sold for more

[18:19] - What a $60K property typically looks like inside

[20:00] - Rental potential and cash flow calculations

[21:17] - How an extra bathroom can increase value significantly

[23:19] - Two rehab scenarios: small profit vs. big return

[24:03] - How to approach comps with multiple exit strategies

5 Key Takeaways:

1. Start with neighborhood context – Understand the micro-location before diving into numbers.

2. Use Zillow’s filters wisely – Limit by property type, square footage, and sale recency to get relevant data.

3. Photos are your friend – Look at sold properties’ condition to estimate your ARV more accurately.

4. Add a second bath if possible – It can boost value by $20K–$50K, depending on area and price point.

5. Be realistic about your profit margin – A $15K flip might not be worth the risk, but a $40K return could be.

If this walkthrough helped you feel more confident about comping deals, rate, review, and share The Real Estate Ride. Every bit of support helps more investors find us and grow their business.