All Forum Posts by: Blake Ashland

We are looking at purchasing a few SFR as rentals. Wanted to see what if any advice people have for determining fair market rent. We are checking out as many recently listed rentals as possible but the particular area we are targeting has very few homes available for rental. Do you find zillow accurate - any idea how they arrive at fair market rent via their algorithm. Is there a way to find historical listings online? Any other advice in speeding up our education process?

Thanks for the thoughts, that is a nice rule of thumb to keep in mind.

sorry, i said 4 months ago, should have read 4 years ago. thanks for your thoughts though...

The property was fully rehabbed about 4 months ago - kitchen (cabinets / granite), exterior, roof, etc - looks like a flip someone got stuck with...

One property i have in mind is a short sale that listed for 405k with a 2 year lease signed 4 months ago for $2900. The taxes are a bit high at $6500 but think with purchase price lower than last assessed those could come down a bit. Rental market is pretty strong as Northwestern University is nearby (not walking distance in our winters) but within a mile of main campus.

I have invested in a number of larger commercial projects as a minority lp. My wife and I are considering rehabbing / renting homes in our area in the Midwest. I am curious - what is a typical cap rate in your area? Not necessarily the best deal you have seen - curious about your run of the mill deal. The purchase price in our market for a 3 bd / 2 bath is anywhere from 300-400k depending on condition.

For ease of comparison assume self managed. Utilities paid by tenant.