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Updated almost 7 years ago on . Most recent reply
![Nicholas Caldwell's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/673547/1621495194-avatar-nickcaldwell.jpg?twic=v1/output=image/cover=128x128&v=2)
Running Comps in a small town... when there aren't any.
I understand when running comps I want to find homes that are as similar as possible to the subject property.
same # beds/baths
+/- 10% sqft
+/- 10 (ish) year built
Sold within 6 months to a year
within roughly <1mile radius
So if I can't find anything within those parameters, what do I expand first? First thought is to extend the time frame. For example, sold within a year to 18 months... I had to go back two years to get anything and even then I couldn't find a single 4/2.5. Closest I could get was 3/2.
Is there a different rule of thumb for running comps in a rural area or smaller city?
Do I expand my radius? If so how far?
If I simply can't find any usable comps what do I use then?
Thanks for the help y'all!