How to Build a Real Estate Comps Spreadsheet Template

To build a real estate comps spreadsheet template in Google Sheets, export your MLS data, install the free InstaMaps add-on, and use =DISTANCE(A2, $B$2) to calculate miles to a subject property. You then use =INSTAMAP(A2:F50) to generate a shareable map link of your comparables.

This guide is for independent brokers, appraisers, and agents who want to visualise comparable sales without paying for expensive mapping software. By the end of this walkthrough, you will have a functional spreadsheet that automatically cleans property addresses, calculates exact driving distances, and plots your comps on a live, interactive map.

What you need: The sheet and the free add-on

Start by downloading the starter real estate comps spreadsheet template from get-instamaps.com/templates. This provides the correct column structure for your subject property, target addresses, sale prices, and square footage. It prevents you from having to build formatting rules from scratch.

Next, install the InstaMaps add-on from the Google Workspace Marketplace. The add-on is completely free and provides the custom location formulas required to power the template. You do not need to write code or use complex script editors. Once installed, you can access everything by clicking Extensions > InstaMaps > Formulas. This opens a sidebar on the right side of your sheet, allowing you to insert formulas directly into your cells with a single click.

Step 1: Clean your property addresses

When exporting data from your local multiple listing service, addresses often contain typos, missing postcodes, or inconsistent abbreviations, such as mixing Street and St. Mapping engines require standardised formatting to plot locations accurately.

In a new column next to your raw data, use the =CLEAN_ADDRESS() formula. If your raw, unformatted address sits in cell A2, you would input =CLEAN_ADDRESS(A2). When you press enter, the sheet processes the text and returns a standardised, properly formatted address. You can drag this formula down your entire column to prepare your data for distance calculations.

Step 2: Calculate distance to the subject property

Proximity is the most critical factor when determining comparable sales. A spreadsheet that only provides the street address does not give you a quick understanding of spatial relationships. You need exact mileage.

Assume your subject property address is in cell C2, and your cleaned comparable addresses are in column B. In your distance column, input =DISTANCE(B2, $C$2). The sheet will display the exact mileage between the subject property and that specific comparable. You can then sort the sheet by this distance column to instantly group your closest sales. This allows you to easily filter out properties that sit outside your acceptable search radius.

Step 3: Generate a shareable map

Spreadsheets are dense, and rows of numbers are difficult to read during a client presentation or a listing appointment. Visualising the data helps sellers understand exactly where their competition sits.

To plot your comparables, use =INSTAMAP(). If your entire table of cleaned data sits in cells A2 through F50, you would input =INSTAMAP(A2:F50) in an empty cell. This formula returns a live, hosted URL directly in the cell. Clicking this link opens a browser tab displaying all your comparable properties on an interactive map. Because the map is live, any changes you make to the spreadsheet, such as adding a new sale or deleting an outlier, will immediately reflect on the shared map link.

Worked example: Pricing a local home

Consider a realistic scenario where an agent needs to price a 3-bedroom home in a specific neighbourhood. The agent exports 30 recent sales from the local MLS into the template. Five of these exported addresses contain minor spelling errors or missing ZIP codes.

The agent highlights the address column and applies =CLEAN_ADDRESS(), which corrects the five erroneous entries instantly. Next, the agent places the subject property address in the designated reference cell and runs =DISTANCE() between the subject and the 30 recent sales. They sort the sheet by distance and identify the 12 closest properties within a strict 1.5-mile radius.

Finally, the agent highlights the relevant rows and uses =INSTAMAP(). They send the resulting hosted map link to the seller. The seller can easily click the pins on the map to view the exact locations of the recent sales, providing clear, geographical proof for the suggested listing price.

Limits and honest alternatives

InstaMaps operates on a free tier that provides 100 lookups per day. You can increase this to 1,000 lookups per day with a free email unlock. This capacity is more than enough for a standard 30-comp property analysis, but it will restrict you if you attempt to process a massive, 10,000-row tax registry export all at once.

If you need to map a driving route to physically visit properties, you can use =ROUTE_LINK() which relies on the official Google Maps URL scheme and supports a maximum of 11 stops. If your operation requires heavy CRM integration, automated skip-tracing, or direct MLS database syncing, paid enterprise mapping software is a better, more robust choice than a spreadsheet.

However, for independent agents who need a transparent, zero-cost tool to calculate distances and map comparables for listing presentations, this template structure is highly effective. It does exactly what is required without adding unnecessary bloat to your workflow.

1. Free tier: 100 lookups daily (1,000 with email activation).

2. Route generation: Maximum 11 stops per link.

3. Best for: Standard comparative market analysis and listing presentations.

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