The best way to analyze rental rates and post rehab values

[Nicholas A.]

I’m trying to gain a clearer understanding of a couple of key aspects related to property valuation and market rents.

While there are plenty of online resources and formulas that outline how to determine market rates in a given area or estimate a property's post-rehab appraisal (such as in a BRRR strategy), I don't believe the process is as straightforward as these guides suggest.

1. Accurately Assessing Market Rents
   1. How can I determine the true market rent for a property, particularly when the available rental data in the area is either outdated, incomplete, or not representative of my specific property?

   For example: If I search within a 0.5-mile radius, but the rental listings or recently leased properties differ significantly from mine in terms of condition, amenities, or layout, how can I still derive an accurate rental estimate?

2. Estimating Post-Rehab Rental and Sale Value
   2. How can I accurately predict what a property will rent or sell for after renovations, especially when comparable properties in the area do not closely match in terms of upgrades, size, or features?

   For example: If I look at recent sales or rental comps within a 0.5-mile radius, but the available properties differ significantly from mine in terms of condition, amenities, or layout, how can I still derive an accurate rental estimate? What methods can I use to refine my valuation?
   

I assume there’s a structured approach to answering these questions—one that goes beyond generic formulas and takes into account the nuances of a specific market. I’d love to hear insights on how to navigate these challenges effectively.