First Rental Property
I have been going back and forth on if i should put the current SFH that i currently live in up for rent. I bought the house back in November of 2014. I am currently paying $797.88 monthly for my mortgage (Principle, Interest, & Escrow). My house is 1300 sqft and was completely renovated back in 2014, new appliances, laminate wood floor, new cabinets and a lot of other small stuff. The lot is also a corner lot and is 15 minutes away from downtown Little Rock, AR. The area is considered one of the nicer towns around the Little Rock area.
I have done my research and the houses in my area are going on average .85/ sqft. And these houses have not been updated. That comes out to be around $1100.00/ month in rent. Is that reasonable to charge for this house?
Am i missing something else that i should be looking into?
Thanks everyone!