Just wondering if there is a way to find recently rented homes in a neighborhood? Pls advise.
I think there is a filter for that on Zillow, otherwise an agent can pull that data from the MLS.
Are you trying to do a CMA on rented homes? If so yes we can pull MLS data. Of course that only pulls the data for homes that were released by agents. I typically find it's not great data because there's a lot of homes rented by owner and there's some homes rented off market by property management companies. So it's probably not as good as typical sold comps from the MLS.
On Zillow I only see "For Rent" list that are still available for rent but not the ones that are already rented. The Sold homes can be filtered though. Any other online options?
I usually look at the leased listings in MLS and add a little bit to the $/sqft to compensate for the lack of full data. It is a good way to begin approximating.
Rentometer.com has an online tool, but I take their numbers with a grain of salt.
As a new Rental Investor I thought knowing the recently rented homes gives me an idea about the demand, Age on the market, median $/sft, quality of tenants, etc. in the neighborhood before making decision on looking for properties there. Hope it makes sense.
In the past, I have looked at the homes that are listed for rent and been on the market for awhile to give me an idea of the ceiling for an area. That info obviously won’t tell you what homes are renting for, but it does tell you what they aren’t renting for.