House Hacking Calculations

[Kirsten Crotts]

Hi everyone!

I am new to investing and my first goal is to buy a single family home, move in and rent out the other rooms. My question is - what are some different ways you use to calculate potential rents? I've been using Rentometer and taking the total rent, then dividing that by the amount of rooms (for example: if a 4 bedroom house is being rented for $2,000, then my assumption is that each room could be rented out individually for $500).

Is this the correct method for calculating individual room rents? Or are there more accurate ways to do this?

Thank you!
Kirsten