Setting Rent Price for Single-Family Home

[Christopher Fetveit]

Hello all. My wife and I are interested in investing in rental properties. We live in Dayton, Ohio. We want to start out by house hacking a four unit building in our area. We also want to rent out our current house while we are living in the fourplex for a year. Can anyone suggest a rent price? The house is a 3 bed, 3 (full) bath bi-level with a bonus room that could be used as a 4th bedroom or office. It is just over 2600 square feet on about half an acre with an attached 2 car garage. If you need more information to help come up with a price I can provide it. It seems like people in the area are paying about 700-800 for 1 or 2 bedroom apartments. 

[Tim Johnson]

Hi Christopher, it's pretty hard for others to suggest a rent price without having exact details on your area. May I suggest the following?

Check on some public sites like Zillow, Rentometer, or Realtor.com - they will allow you to see all of the rentals right in your neighborhood for comparison.

Then check sites like your local Craigslist and Facebook marketplace..... again, you'll be able to compare other properties being rented nearby.

And finally, no one knows market rental rates like a good property manager. Usually they are more than happy to give you an estimate of what you might ask for your home...