Hi, I have a property at 1602 1st St NW, Center Point. It's a 3 bed / 1 bath (w/garage), built in 1960 that's 890 square feet. It was rehabbed to turnkey condition last February when I bought it and there was a new renter in there before I purchased. I am currently looking at whether I should increase the rent or not. Is there anyone who can give me an informed opinion regarding what a good rental price would be for this home?
FYI, I have checked out zillow, rentometer, craigslist to get range. Now I'm looking for someone who knows the area to understand what rent should be.
Might help if you told us what you are charging for rent now.
Was hoping to get an unbiased opinion :) But, I'm currently renting the unit at $800/mo
That is about the going rate - the unit is small so $800 is fair. Ive seen things around the 900-1000 depending on how nice it is. I have a few units in CP and some in the clay/pinson area
If it is about to have a turn over then raise it to the 900 or better, if they are staying another year I'd raise it 30-35 just enough to make some extra money while not driving them away.
Hope that helps.
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