Expected Rent on a Buy and Hold Condo

[Kyle Kufeldt]

I'm a few investor and came across what initially looked like a good cash flowing condo for a relatively small investment. The condo is a 3 bedroom, 1 bath that rentometer says should rent for $900 a month.

After researching it further, I can't find any other condos in the same complex that are 3 bedroom. The rest of them are 2 bedroom 1 bath. Even the condos with the same square feet as the one I'm looking at, are 2 bedroom but have bigger bedrooms. Those condos, only rent for $600-$725 a month.

My question is whether anybody else has had experience with something similar and what rent is realistic? Should I expect to get what other 3 bed 1 bath rentals are getting? or is the fact that this has the same square feet as other 2 bedrooms in the complex going to cause me to find it hard to rent as a 3 bedroom?

Thanks in advance!

--Kyle