Determining Expected Rent

[Nicholas R Murray]

I am an aspiring multi-family investor in the process of learning how to analyze deals in preparation to buy a 2-4 family property in the next year. As part of my learning process, I have been trying to implement a system for evaluating the expected market rent of a specific property based on the size, # of bedrooms, # of baths, location, and amenities offered. 

My current approach has been to look at Zillow, Trulia, Craiglist's, etc for comparable properties currently posted for rent in the location; however, since I'm still learning I'm not sure if this is the best approach to determining market rents.

For anyone who currently owns/operates rental properties what is your current process for determining market rent? Do you have any tips, tricks or websites that are invaluable in your process?

Thank you in advance for your help!

Best,

Nick Murray