how to estimate rent in Punta Gorda

[Weixin Tang]

I am in the process of buying a property in Punta Gorda. I am surprised by how low the current rent is. Based on what I heard, I should be able to time the sq ft by 1.8 to get the current rent. But based on postings on Zillow and Craigslist, the factor should be 1.2 to 1.3. So for a 1000 sqft house rented out annually, a market rent should be $1200 to 1300 if the house is not located in a premium location. Is my understanding correct? Thanks. 

[Jim Miller]

I am property manager in Punta Gorda. In my opinion, there is no formula that is workable in areas similar to Punta Gorda. You see a mixture of the in-season, off-season, vacation, and annual rentals on the internet. And the online algorithms try to put everything in the same box. Id, be happy to look into the home you are purchasing and give you my thoughts on what the rents should be.