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Updated over 6 years ago,

User Stats

10
Posts
2
Votes
John Joey
  • Milwaukee, WI
2
Votes |
10
Posts

Request for Assistance - Determining Average Rent Prices

John Joey
  • Milwaukee, WI
Posted

Hey everyone! I've been following bigger pockets since September '17, and I'm closing on my first 4-plex house-hack on Friday. Looking at the rent rolls, I believe that the rents are somewhat under-priced for my area; I'm trying to determine the average rent price, and what I should increase the prices to if at all. Any assistance would be greatly appreciated.

Property Characteristic:

  • Unit Types - 2 bed, 1 bath
  • Zip Code - 53210
  • Street Location - Lisbon & Hartung Ave
  • Appliances - Refrigerator, Oven/Stove/Cooktop
  • Tenant Utilities - Electricity, Heat, Gas, Air Conditioning
  • Landlord Utilities - Sewer, Hot Water, Trash

Current Rents:

  1. $525 - MTM
  2. $525 - MTM
  3. $675 - MTM
  4. $675 - 1 Year

Please note, I also intend to have tenants pay apportioned share of water/sewer/municipal cost. I understand the common practice of landlord paying, but I don't care for such liabilities. Given the information above, how would you price these rentals? 

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