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Updated almost 5 years ago,
Calculating monthly rent
Hi everyone! I've been looking at comparing monthly local rents for 3/1 and 3/2 SFR and multifamily properties using rentometer, Craigslist, and other websites size as Zillow etc. Made a spreadsheet to compile the local data.
Rentomoter mean for the area is $1300/mo (sample size of 8 only within 10 miles and 18 months of data; min $1150 and max $1850).
On Craigslist and rental websites the rates range from $1450-$2100/mo.
How do I proceed to analyze and decide what a property should be renting for in this case? Should I be calling local PM and asking? I've read multiple books and for me trying to figure out rental price is difficult.
Thank you!