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Updated about 9 years ago on .

User Stats

16
Posts
2
Votes
Chance Johnson
  • Rental Property Investor
  • Tulsa, OK
2
Votes |
16
Posts

Market Rents for small multis vs apartments

Chance Johnson
  • Rental Property Investor
  • Tulsa, OK
Posted

Hello,

When doing preliminary market rent research using a site like padmapper, how does one modify the most commonly found listings from aparment complexes to better fit a du-/tri-/four-plex? Complexes have pools and other facilities that are included in the rent, as well as other things I'm sure, so I would expect that their rent rates for a 1000 sq.ft. 2-2 would be higher than a similar small multi. So if 5/6 hits from the mile surrounding a property are from large complexes and have rents that range from $950-1200, how much lower should I consider possible rents for a property I am looking at?

Once I decide if it makes any sense at all, I would likely drive around and do a more thorough market rent survey; this is just to see if there is any point, I suppose.