Comps, ARV and rent

What it is

Acre looks at the homes that sold on Redfin around each lead and keeps the ones that match your comp rules. Out of the box that's a home that sold in the last 6 months, within 500 m, with the same beds and baths and square feet within 15%. A lead keeps the 5 nearest that match.

ARV is the comps' average price per square foot times the lead's square feet, rounded to the nearest $1,000. If the lead has no square feet on record, it's the comps' median sold price instead.

The 70% rule is 70% of the ARV, rounded to the nearest $100: the most to pay before repairs.

Rent shows as Section 8: what the Cleveland area's housing authority (CMHA) pays for that ZIP code and number of bedrooms. Outside CMHA's ZIP codes, or without bedrooms on the lead, it shows a dash.

How to read and fix a lead's comps

1. 1

   Add the lead

   Comps are found on their own as soon as a lead is on the map. While Acre looks, the Comps tab says Looking for sold homes… and fills in by itself. If nothing has come after 3 minutes, it says Taking longer than usual and offers Search now.

2. 2

   Open the lead's Comps tab

   A map shows the lead and each comp as a numbered pin inside the search circle. Under it, the asking price sits on a line of what the comps sold for, with how far above or below the median sold it is. Then each comp: when it sold, beds, baths, square feet, price per square foot and how far away it is.

   Comps
3. 3

   See the numbers on your dashboard

   On the dashboard's lead card, ARV est. and 70% rule sit beside the asking price. The 70% rule shows until there's an offer or a counter. While comps are on the way, those tiles shimmer and the Comps tile says Finding comps… with a thin bar that fills over 3 minutes. After 3 minutes it offers Search now, which looks again. If Redfin asked Acre to wait, it says Paused until a time instead. A search that found nothing says None yet and links to the lead. Tap Comps to see whether the asking price, your offer or their counter is under the 70% rule or over ARV, and the comps in short.

   ARV est.70% ruleSection 8Comps
4. 4

   Take out a comp that doesn't belong

   Press Hide on it. It stops counting in the numbers, and the next nearest match takes its place. Hidden ones wait under Hidden at the bottom, where Show brings one back.

   HideHiddenShow
5. 5

   Add one you know about

   Press Add by hand, type the address, the sold price and the sold date, then Add comp.

   Add by handAdd comp
6. 6

   Look again

   Press Search again to look right now, or Edit rules to change how far, how recent and how similar a comp can be for this lead. See Your own comp rules.

   Search againEdit rules

Good to know

• The numbers need at least 3 comps. With fewer, a note says so.
• Hidden comps don't count in the ARV, the 70% rule or the deal score.
• Comps you add by hand stay when Acre searches again.
• A lead looks again when it's added, when its address, beds, baths, square feet or rules change, and once a week.
• If a lead is missing beds, baths or square feet, comps match without that rule, and a note says which one wasn't checked. Add it with Edit and it looks again.
• A lead Acre can't place on the map has no comps. Fix the address with Edit, or press Try again.
• If Redfin asks Acre to slow down, searches pause and start again on their own. There's nothing to do.
• One search reads at most 350 sales. In a busy area a smaller distance or a shorter time finds them all.
• ARV and the 70% rule come from the comps alone. They don't know about repairs.