Hey BP Fam!
I am struggling to find much data in rents in the Fon Du Lac County area. Specifically, I am wondering about rents in the Campbellsport, Wisconsin market. Does anyone have any insights on what a 3BR, 1.5BA side by side typically rents for? It is in great shape in a nice neighborhood and each unit has over 2,000 ft with a large 1 car garage and a large deck.
Thanks in advance!
Did you try rentometer? I find market price with a combo of that website and looking at what other LL's are asking for on Facebook Marketplace.
@Nicholas Ludwiczak yes sir. All of the above as well as BP insights. I’m just not seeing much out there for data. There’s not much on market place or Craigslist either. Figured I’d put it out there to see if anyone has any insights.
Campbellsport is a very small community. It’s about 1/2 hour away from Fond du Lac and West Bend, which are the 2 biggest cities nearby. It is an older community without a lot of growth. Hence, your lack of comparisons.
@Jeremy Anhalt For sure. I live in the area but don’t venture out that way too often. Do you know what rent should be one a very nice 3/2 side by side 2000ft plus on each side with one car garage and big deck?
@Luke J Nelsen Without comparisons, it's tough to say. What was the last tenant paying? Depending on the condition, I would guess (and I can't state this enough, it is a guess) around $1,250. There are a couple of approaches I would suggest you can choose from. 1. Determine the rent you need to cover your expenses and then add the desired cashflow. 2. Set the price high and let the market determine the rent, by lowering it if there is little to no interest. Either way, you may sit empty for a bit until you get the price right. Good luck!
@Jeremy Anhalt I ran my numbers at $1200 and am thinking I should be able to get $1,250-$1,300 since the units are really nice and they're huge! It's also in a nice neighborhood. If we get it, I'll let you know how it goes!
@Jeremy Anhalt Sorry, I missed your first question. It's currently owner occupied so not much to comp there either
@Jeremy Anhalt We did a showing for $1,300 and they didn't bat an eye. Writing up the lease now!
@Luke J Nelsen . Congratulations
@Jennifer Morse thank you