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Updated almost 2 years ago on . Most recent reply

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Difficulty finding a rent estimator in my area that I am confident In

Michael Garguilo
Posted

I am currently looking at a duplex in my area that should cashflow around $250 per unit per month if I am using the correct rent estimate. My problem is that there is a discrepancy between Zillow and rentometers rent estimates vs when I add the rent estimates of each unit in the property. If anyone could help it would be greatly appreciated.

Best,

Michael Garguilo

Most Popular Reply

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,092
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

Stop using computers to tell you what a property should rent for. They may be useful to get an understanding of the general area, but they are not accurate for individual houses. There are too many subjective factors that a computer can't calculate for, such as views out the living room window, size of bedrooms, quality of countertops, etc.

Study your market constantly. Look for rentals in the same location or comparable locations with similar size, amenities, and condition. Pretend to be a renter and secret shop your competition. It shouldn't take long to know what a property should rent for and how quickly it will rent.

  • Nathan Gesner
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