Finding Rent Comps for my area

[Colin Graveen]

I'm currently looking at purchasing my first rental property and have found that the area I am interested in purchasing in, doesn't show many, or really any, rent comps for SFH. Because of this, I am having difficulty measuring what rent would be enough to still cash flow as well as not to price myself out of the market while I'm analyzing properties. Has anyone else run into this when they started out?

[Arman Ahmed]

@Colin Graveen

Hey Colin, this is a common challenge when starting out. One approach I use in the Midwest is to expand the search radius slightly to include nearby neighborhoods with similar property types and demographics—this gives a more realistic range of potential rents. You can also check local property management listings, Craigslist, and even Airbnb/short-term rental platforms to gauge demand and rates. Once you gather enough data points, you can adjust for condition, size, and amenities to estimate cash flow more accurately. It’s not perfect, but it helps avoid overpaying and ensures your rental numbers make sense.