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Updated over 1 year ago,
Analyzing properties online with zillow and realtor.com
Hey all I am just starting out with analyzing properties and wanted to see if I am generally going in the right direction because some things seem off. For example this property was a 4 plex for $462k asking price with 3 tenets already for a total of 2900 a month. The loan estimate off realtor.com was about 3700 a month.
My question is this house was bought in 2019 for 299k, and these rents seem to be based off that price. If someone would buy this property at 462k, would it be expected by tenets the rent would increase? There is no way the owner would be in profit based off a 462k loan with those tenet rental rates and that is not even including any capex, lawn care costs, etc etc.
I am just making this post cause while looking at a few properties on zillow and realtor.com i notice this issue and wasn't sure if its normal for someone to buy a property and increase rent based on the purchase price or if i am analyzing some of this wrong.
I know this is roughly a very top level view but I hope it is enough information to say yes this is normal and im analyzing right or not :D