How much should rent be for old homes when comparing to new home

[Thomas Jerome]

One of my friends recently purchased an older home with 4 beds and 2 baths. According to Bigger Pockets insights the median rent for the area is $850. However, he plans on charging around $1600 for rent. This is the mean rent for houses of this sizes in the area, but they are all much newer and have far more aesthetic appeal. So I’m curious if it is smart to compare old houses to new when trying to determine what one should charge for rent?

[Dan Weber]

As Bob said, you are going to want to compare his rental to ones of similar overall condition. Also, I would look into other sources for comparing the rents (other than BP Insights). I would check rentometer.com (my favorite), as well as active advertised rentals on craigslist and facebook marketplace.