1% rule in Austin TX

[Michael Tuck]

Hello all, first post for me.

Does anyone know how to apply this rule to the Austin market? I've been looking for months and can't find anything that even touches 1% on austin. Or any other major market for that matter.

For example- my home is worth 350, and rent in my area is 1800-2100. Even at my original purchase price of 250K (4 years ago) I wouldn't meet that.

[Stephen Stokes]

@Michael Tuck

MLS# 6050295 is a 1% deal and it was listed on the Austin MLS.....$200k and $2100/mo in rents.