Valuing a Rental, San Jose, CA
I need some help valuing a rental property. It's a 2/1 duplex in San Jose, CA (off of 10th & Julian). 800 sq ft, older property but in good condition. I need to list it but I don't know what it's worth. Can someone offer some insight? I've tried to run comps, but some properties are $2,000/Mo, others are $3,600/Mo and it's hard to tell where. I'm meeting with an investor in the morning and I don't want to embarrass myself by throwing out a ridiculous number.
I know the various strategies, but if someone familiar with the area could suggest a number I would appreciate it.
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On Craigslist I found a 2/1 840sf at Calhoun and 19th for $2000. I found a 2/1 duplex on 4th for $2095. And a really swank 2/1 duplex in Vendome for more like $2300. I'd say you are probably in the $2000/month range.