If I want to sell for $450,000 how much rent should it produce?

[Carlos Fong]

Hi Everyone -  I just purchased a duplex in Miami, FL at a good price and I am looking for a quick sell. I don't currently landlord any properties so I wanted to ask the professionals. If you were buying a duplex for $450,000 how much rent would you expect to be receiving in total for the deal to make sense to you. Just in case you need more information about the property it is located in a good area in Miami called Coconut Grove, the taxes are around $4,400 and insurance is about $1300 + $400 for liability for the year. The tenant is responsible for water and electricity. Let me know if you need any further information.

I know everyone may have different preference, however would like to see what is the majority.  Thank you in advance.

[Thomas S.]

Based on the investment value of the property you need to be able to collect in the range of $3800/month plus to warrant the investment. If the area does not support rents in that range it is not a worth while investment as a rental.

This is only a rough ball park number. Many more variables enter into the equation in addition to property value.