Determining average rent for an area

[Christopher Sica]

Hey All!

I am looking at a few different areas within about an hour of Austin for duplexes and quads that might cash flow. I want to find out what the best app or website is out that that will help me quickly and accurately determine the average rent in an area, school district, city, neighborhood, whatever the most accurate is.

I found one called rentometer.com It seemed legitimate but I want to know if there are better ones.

Thanks,

chris

[Rodney Kuhl]

I use rentometer. It's important to dig into it a little when you are searching though. You could put in the information and it'll spit out an average and median rent for the area, but I always click around on each point to figure out the high and low side for the area. The average could vary greatly. If it's an area without a lot of rentals it will factor in a wide range to calculate the average. But in reality, properties that are several blocks away could have a completely different market. This happens a lot if you are looking at a 4 bedroom property. To gather comps, the site will have to go a ways away from the property. I think it's important to keep that in mind. But I think it's a very good source.