Knoxville TN rental comps

4 Replies

hi,

I am looking for knoxville TN area realtors to help me out finding some rental comps for 3 bed 2 bath houses in the area. I am, however, looking for homes that have actually been rented so that I can realistic comparables. Thanks for the help!

Hey Allen,

I'm not a realtor, and hope this helps, but a quick way I check rent comps for an area is to Google example: For rent Knoxville,Tn. There's local rental websites through Realtors,  Facebook, Craigslist, Zillow, Realtors.com, online newspaper ads,etc. that will give you direct access to properties currently for rent, comp info, pictures, maps etc. for areas you are researching. Sometimes websites list properties that have recently been rented and all the comp info. 

I have contacted  real estate agents that have told me they don't keep rental comp records. A Investor/Real Estate Agent may be more likely to have comps.

I have learned sometimes I can research online quicker than I can find someone to help me find the answers. It Is a little work in researching it yourself but I make and keep my own records for areas in which I'm interested in investing. 

Good luck. 

Rhonda

Hi Rhonda,

Thanks for the response! So I am looking into this because I am purchasing  an investment property in the Knoxville area for Buy and Hold and the appraiser came back with a market rent that is lower than I believe is accurate and is very low. In order to get the proper loan from my lending property I need to prove that the rent in the area should be higher and they have requested comps for rental properties that are currently occupied. 

Originally posted by @Allen Carpenter :

Hi Rhonda,

Thanks for the response! So I am looking into this because I am purchasing  an investment property in the Knoxville area for Buy and Hold and the appraiser came back with a market rent that is lower than I believe is accurate and is very low. In order to get the proper loan from my lending property I need to prove that the rent in the area should be higher and they have requested comps for rental properties that are currently occupied. 

 If your local (to the real estate) lender does investment properties frequently, her database is full of exactly this information. It's right there on all the other local investment property appraisals. :)

Property managers, HUD offices and landlords in areas you are researching can provide proof of exact rents.

 You could contact property managers for Knoxville, Tn and tell them you are an out of state investor looking into investing in their area. It could double as your interview for a property manager in that area. You will get a quick feel for each property managers experience and knowledge for their areas.

There are a couple of Real Estate Agents/Investors and several investors from Knoxville, Tn here on Bigger Pockets. They may be able to offer you more direct advise for that area. 

Good Luck!