The Comparable Properties section finds comparable buildings near the subject property, with their recent sale prices, rents, and cap rates where available. It's a sanity check on your underwriting price and rent assumptions.
What's on this card
The card shows averages across the comps — units, size, rent, and cap rate — and the first few comparable buildings. The Comparable Properties page lists them all, with average year built and sale price too. For each comp:
- Address, with a photo.
- Property type.
- Last sale — price and date, where a sale is on record.
- Average rent and cap rate, where a source publishes them.
- Year built, units, floors, size (gross leasable area), and zoning.
- Source — a link to the page the comp came from.
How Relm picks comps
The agent researches 5–10 comparable whole buildings near the subject, using the subject's property type, size, and age as context. It favors full-building sources — property profiles, investment and sales listings, and county assessor records — over individual unit listings, and looks for each building's recent sales, rental rates, and zoning.
Editing
Open the Comparable Properties page and click Edit to:
- Add a manual comp with Add Comparable if you have one Relm didn't surface (off-market, broker network).
- Correct a comp — click it to open and edit its figures.
- Remove a comp if you have inside knowledge ("that sale was an inter-family transfer", "they took back paper at 6%"). Removed comps drop out of the averages when you save.
Cap rate
Where a source publishes one, Relm records each comp's cap rate — often from an investment listing or market report rather than a verified trade. The card and page show the average across comps.
Cap rates are stored and displayed as decimals (e.g. 0.051 for 5.1%) under the hood. The UI formats them as percentages — never copy a "raw" cap-rate value out of an export and expect a % symbol.
Caveats
- Comp coverage is best for multifamily and retail. Office and industrial sale comps are sparser due to lower trade volumes; supplement with broker conversations.
- Asking comps over-represent listed inventory. Real trades sometimes price below ask; treat asking medians as a ceiling.
- Pocket listings never show up here — that's still a relationship conversation.