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Updated 3 months ago on . Most recent reply

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Dave Schimmels
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Rental comp calculation

Dave Schimmels
Posted

What is a good way to get accurate rent comps with existing tenants based on the area? I have a duplex in cleveland with a combined 2,336 sq. ft. Are the comps from the Bigger Pockets per unit figures? Each unit is $725. I feel I'm on the low end, but my COC return a year later is roughly 14%. I've been updating things that need it and lucky enough, I can do the work myself to keep cost down for now, only because it be my first rental.

any advise would be much appreciated. 


Thanks

  • Dave Schimmels
  • Most Popular Reply

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    James Wise#3 All Forums Contributor
    • Real Estate Broker
    • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
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    James Wise#3 All Forums Contributor
    • Real Estate Broker
    • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
    Replied
    Quote from @Dave Schimmels:

    What is a good way to get accurate rent comps with existing tenants based on the area? I have a duplex in cleveland with a combined 2,336 sq. ft. Are the comps from the Bigger Pockets per unit figures? Each unit is $725. I feel I'm on the low end, but my COC return a year later is roughly 14%. I've been updating things that need it and lucky enough, I can do the work myself to keep cost down for now, only because it be my first rental.

    any advise would be much appreciated. 


    Thanks


     Talk to experienced PM's and Landlords in the area.

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