How do you comp rental property

[Yolanda Thomas]

When looking to purchase an existing rental what formula(s) should I use?

[Joaquin Camarasa]

Originally posted by @Mitchell Hosford:

Just curious, how much faith do you place in rental comps and what you actually decide to rent your property for?

If you are particularly interested in an area and you are preparing yourself to buy. I would check the average rent price in the area in different periods of the year. It is harder to get people moving in during the winter, so rentals might drop price a little during that time. During the summer normally there is plenty of demand. When tracking specific areas for a while you can almost estimate 100% what are you going to be able to rent a property for.