Google Maps for tracking rent comps

Buying & Selling Real Estate
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Google Maps for tracking rent comps

Kevin Nichols
Investor · Rock Hill, SC · Member since 2014 · 122 posts · 33 votes

I've just started out investing and wanted to find a better way to keep track of area rent prices.  Has anybody else used Google Maps (Private map) to track rent in your area?

After getting hearsay info from for rent calls and other investors in the area, I'm going to build my own map of rent prices.

Example: https://www.google.com/maps/d/edit?mid=z_BgbjP9NJy...

Has anybody else done this?  Is it overkill? 

Kevin

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Ryan M.
West, MI · Member since 2012 · 674 posts · 182 votes
11y

Sounds like you just described Zillow

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  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    11y

    @Kevin Nichols I do.  I plot both rents and sales comps when I do a market analysis.

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  • Payam Dastmalchi
    Investor · Washington, DC · Member since 2014 · 54 posts · 28 votes
    11y

    Very interesting concept and approach; I like it!!

    So far I've been mostly using publicly available information and looking up average median rental prices on sites like Rentometer. I also rely heavily on Craigslist to get an idea. 

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  • Ryan M.
    West, MI · Member since 2012 · 674 posts · 182 votes
    11y

    Sounds like you just described Zillow

    1Reply
  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    11y
    Originally posted by @Ryan M.:

    Sounds like you just described Zillow

     I use it for my reports.  You can't use Zillow for reports and make them interactive...just screen prints

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  • Kevin Nichols
    OP
    Investor · Rock Hill, SC · Member since 2014 · 122 posts · 33 votes
    11y

    Making your private Google Map is an easy reference option for rent prices. I would use Zillow for home sales prices.

    My only concern is keeping up with the numbers, but in my area rent prices are pretty stagnant. May 1-3% increases.

    But it's a good way to visually see what competition is getting.

    Kevin

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  • Kevin Nichols
    OP
    Investor · Rock Hill, SC · Member since 2014 · 122 posts · 33 votes
    11y

    Oh..forgot to share how:

    1.) Log into your Google Account

    2.) Go to Google Maps

    3.) On the top left search bar, insert your cursor and then go down to "My Maps"

    4.) Click "Create"

    5.) To start out, add all your known rental properties and rental rates into a .CSV

    Template example: https://dl.dropboxusercontent.com/u/12532182/test....

    6.) In Google Maps, "Import" the CSV

    7.) Map your column names and there you've made the first map.

    8.) Then as you get additional rental data, you can just update your map. The map is private unless you make it public.

    Thanks,

    Kevin

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