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Updated about 11 years ago, 12/17/2013

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1,083
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Deborah Burian
Pro Member
  • Rental Property Investor
  • Oklahoma City, OK
412
Votes |
1,083
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Uncertain about rent - could use some thoughts

Deborah Burian
Pro Member
  • Rental Property Investor
  • Oklahoma City, OK
Posted

I have refurbed a 1/1 duplex that is ridiculously large to be only one bed. It's a B/B- prop in a C but improving area that is starting to attract some hipster/artist types.

I just rented a nice 1:1 on the same block that was markedly smaller but charming, with a good floor plan, for $495 - which was basically .90/sf plus $50/mo utilities.

If I put that same model on the new duplex, which is clean plain jane vs charming, I get a crazy number... $900, which is more than a 3/2 in this area. I'm fine with not getting .90/sf but am struggling with the right number.

Previously, with pretty terrible tenants it was $525/bills paid. I can live with $525/water paid but not sure that's the right price because of the size. Does the size get me anything but a headache?

Any of you with non-conforming properties have any words of wisdom?

  • Deborah Burian
  • Loading replies...