Bought house for $190,000 (Mortgage at $1730, but appraised to rent it at $1650. Help

[Freddy T.]

Hello,

So I bought a house in the Rockford area for $190,000. Mortgaged came out to $1730 a month. It was appraised to rent it out for $1650. If I rent it out for the appraised price rental, I will be underwater and will not make any profit. Should I go over? Like at least $2000. I just don't see the point of charging rent below my mortgage. What do experience landlords think of this?

Thank you I appreciate it. 

[Mike Kirby]

Quote from @Freddy T.:

Hello,

So I bought a house in the Rockford area for $190,000. Mortgaged came out to $1730 a month. It was appraised to rent it out for $1650. If I rent it out for the appraised price rental, I will be underwater and will not make any profit. Should I go over? Like at least $2000. I just don't see the point of charging rent below my mortgage. What do experience landlords think of this?

Thank you I appreciate it. 

The rent you can charge is based on what rents in your neighborhood go for. It has nothing to do with what your mortgage is.