Use Sales & Rent Comps

Comps answer the two questions every underwrite depends on: is the price right (sales comps) and are the rents right (rent comps). Mogul Deal Evaluator surfaces both inside each deal — here's where they live and how to use them well.

Sales comps — Property Data → Sales / MLS / Comps

Every deal's Property Data tab carries the sales evidence for the subject property:

• Sales history — recorded transactions with dates, amounts, buyers, and financing details.
• MLS listing history — past listings, both for-sale and for-rent.
• Comparables — nearby sold properties with estimated value, square footage, and price per square foot, so you can see how the subject's price sits against its neighbors.

Rent comps — where they live depends on the asset type

Multifamily: the deal's Market Insights tab includes a nearby-competition view listing rental comps with distance, unit type, and — most importantly — effective rent: base rent net of required fees and amortized concessions, which is the number to compare against your underwritten rents. Filter by radius and unit type (driven by your own rent roll), and include or exclude individual comps so one outlier doesn't skew your set. Public benchmarks like HUD Fair Market Rent appear alongside as context — treat them as sanity checks, not as observed market rent.

Single Family: the Market Insights tab is comps-centric: recent nearby resales with a price-per-square-foot view that triangulates your value or after-repair-value assumption against the comp set, with a clear callout when your figure sits outside the observed range.

Self-Storage: apartment-style rent benchmarks deliberately don't apply — HUD FMR measures apartment rent, not storage-unit rent, so Mogul Deal Evaluator won't show you a misleading comparison. Storage rents are underwritten from your unit mix's in-place and market rents.

A practical workflow

1. Enter or import your rents first — unit-type filters and rent-gap comparisons key off your own data.
2. Start with a tight radius and similar properties; widen only if the comp count is thin.
3. Compare effective rents, not asking rents, and exclude comps that don't genuinely compete.
4. Feed the conclusion back into the Underwrite tab — comps inform your assumptions; they don't change results directly.

When evidence is thin

Comp coverage genuinely varies by county, property type, and recency — an empty or sparse section is usually honest, not broken. Mogul Deal Evaluator's empty states explain what's missing and why. When the data is thin, your own document-driven inputs and local knowledge carry more weight, and a wider radius often still finds usable evidence. See Why Some Property Data May Be Missing for the full picture.

Common mistakes to avoid

• Benchmarks as proof. "Rents are $200 under HUD FMR" is a lead, not evidence — only live comps confirm rent upside.
• Mixing unit types. A two-bedroom median says nothing about your one-bedroom rents. Filter first.
• Keeping outliers. One luxury lease-up in the set drags the whole median — exclude it deliberately rather than mentally discounting it.