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Updated over 5 years ago,
Renting a 3200 sq ft home
In March 2018, my wife and I bought a 3200 sq ft, 6 bed, 4 full bath single family house in Springdale, Arkansas. We originally purchased the property for myself, my wife, my two daughters, my sister, and two nephews to live in indefinitely. Due to parenting differences, we helped my sister and nephews find a house close-by, but now the residence is a bit big for our smaller crew and we plan to find another house to move into soon.
We have started investing in rental properties and currently have a single family in Fayetteville, AR and a duplex in Springdale and were thinking of renting this one as well. I was wondering if anyone on BP had experience in renting larger properties who might be willing to offer advice on the matter.
A little more information about the house and area: I have listed the home on Zillow and Craigslist as a 5 bed 4 bath with office/workout room, as one of the rooms is smaller with a lower ceiling than the others and I thought that number might elicit more interest. It was built in 2006 and is mostly stone siding with a relatively small backyard, but a very large covered patio, big enough to watch football outside while it rains. The property is in a good location central to all of Northwest Arkansas, across from a bike trail extending from Fayetteville to Bentonville, within walking distance from a desirable elementary school, close to a large and very nice park, about 3 minutes from the highway, and about 20 minutes from Walmart home office. Comparing other rents in the area, I believe $2400-$2600 ($0.75-$0.80) is a fair asking price.
Thanks in advance for any insight!