Spokane and Rentometer accuracy

[Jeffrey M.]

Hey local Spokane investors!

As a new investor one of the hardest things I've found is when "running numbers" in the BP calculators the input for monthly rent is a major "guess" for me. There have been a lot of other challenges too but most I can verify with hard metrics, somewhat scientifically. It makes me a little anxious when an important input is a MAJOR guess.

I just joined Rentometer as a pro member and its got some decent features but I have to admit, I don't know what they're doing behind the curtain and wonder aloud here how well they do here in Spokane. I assume that the math they use is location agnostic but I am wondering:

a) anyone here use rentometer and found it accurate?

b) anyone feel an experience human like a savvy realtor or property manager has better estimation skills.

I have just started reaching out to Property Managers by the way... I do intend to use one if financially feasible.

Thank you.

[Michael DeHaan]

@Jeffrey M. In my experience Rentometer is not great for the Spokane area. There are alot of very nice expensive areas in close proximity to the lower income areas that skew the numbers.

For example look at Kendall Yards proximity to West Central, Manito and Perry Streets proximity to lower south hill. Similar size and age properties will very by large amounts in those 2 comparisons and there's micro versions of that all over Spokane.

I have found the best method to be looking myself at compatible rental listings on Zillow and working with my property manager rather than relying on Rentometer.