Rental rates in your area

[Ryan Kruger]

Investors,

I am looking at a few single family homes in my area I am interested in buying and holding with the intent to rent. I am still in the analysis portion of my research and so far its looking like a good deal. It is a 4 bed 2.5 bath built in 2004 in fair condition. No major improvements needed. The homeowner is facing foreclosure and the asking price is $295,000. Comparable homes in the neighborhood are in the low 300's.  My issue is that I am struggling to find or determine what I could/should charge for rent. Ive heard the .8%-1.1% of home value estimate for rental rates, but where do I find information on comparable home rents? Ive looked online to see if any comparable homes were up for rent but I haven't found any close by with the same property features. In your experience, where or how could I find reliable rental rates? 

Thanks!