Zillow idea

[Jay S.]

How about an app or a website that uses the API like padmapper.com that pulls sales price and the rent zestimate and automatically calculates a cap rate based on 50-60% of gross rents equal to a NOI? Then cap rates are displayed on the map not just sales price. Thoughts? J

[Franklin Romine]

@Jay S. Yes. I haven't thought of that one but have thought of other metrics from all that data.  We might be wired the same we should talk sometime.

Frank

[Lior Solomon]

Hi @Jay S. 

I am working on this app for the past couple of months.

I am scrapping the NJ MLS and using rentometer to get the rent comps.

Unfortunately I'm forecasting some legal issues with the MLS since I've been blocked several times already.

Never tried padmapper.com before. going to give it a look.

But I love the idea and find it very useful.

I would share the service with you, but I'm focusing only on NJ market at this point.

[Jay S.]

Why not just pull the "Rent Zestimate" data from the zillow API?

http://www.zillow.com/howto/api/GetZestimate.htm

[David Pain]

Actually we have one in development right now that's free to use. It's not limited to any region and can pull listings from any ZIP code.

you can create a beta account at apogeedevelopment.com

[Jay S.]

David,

I tried to signup but it told me I'd have to wait for an opening?

J