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Updated over 8 years ago,
Computing rental amount
I'm a newbie working on my first deal. Looking at a duplex that is 2Br/1Ba. Craigslist yields $625 for a comparable unit in a stand alone duplex up to $775 for one with a fireplace and basement. Units in complexes in the area run from $660 to $724 for the same 2/1. Square footage is comparable for all.
The property I am looking at has a carport for each side as well as a sunroom on the back for each unit. Fenced in back yard with divider fence. One side is rented to a long term (10 years) tenant for $600 and the other side is vacant. What should market rent be?
Thanks