Can New Haven, IN support $2200 rent within new 4Plex

[Brett Merrell]

I am considering investing in several new fourplexes in New Haven, IN.  I am targeting $2200 rent.  Will this work in New Haven?  I have been told that Northwest of Fort Wayne, e.g. Huntertown that $2200 rent would work, but not in New Haven.  Can you help me understand the market and what will work in New Haven?

Here are the specs of the fourplex/units being considered for New Haven:

1) Two Story, 1400, sq ft per unit

2) Floor 1: 2 car garage with furnace room, living room/kitchen one combined area with island, 1/2 bath, porch, pantry

    Floor 2: 1st BR w/walk in closet, 2nd BR w/walk in closet--shared bathroom; MBR with walk in closet, master bath; Laundry closet

This is a Class B property, but I have been told that New Haven will consider this a Class A and it will not fit the income or demographics at $2200.

Will this concept and rent rate work in New Haven?

Brett