First Rental Property

[Matt Turner]

I have been going back and forth on if i should put the current SFH that i currently live in up for rent. I bought the house back in November of 2014. I am currently paying $797.88 monthly for my mortgage (Principle, Interest, & Escrow). My house is 1300 sqft and was completely renovated back in 2014, new appliances, laminate wood floor, new cabinets and a lot of other small stuff. The lot is also a corner lot and is 15 minutes away from downtown Little Rock, AR. The area is considered one of the nicer towns around the Little Rock area.

I have done my research and the houses in my area are going on average .85/ sqft.  And these houses have not been updated.  That comes out to be around $1100.00/ month in rent.  Is that reasonable to charge for this house?

Am i missing something else that i should be looking into?

Thanks everyone!

[Jeff Fuller]

Matt

I have over 20 rentals in Maumelle all are in CC of AR and range for 1500-1700 sf. We get $1500 to $1750 for our 3/2s and $1550 to $1895 for our 4/2s. They are all 1-5 years old. if you are below $1500/mo and updated you should not have to hard a time getting a tenant. The activity comes in waves in Maumelle and after 20 years in the market I still have not figured it out. Be patient and hold out for a good tenant. Good Luck

Jeff Fuller