Monthly rental amounts for Tampa one bedroom, one bath triplex

Investor · Amherst, NY · Member since 2015 · 63 posts · 25 votes

Looking to acquire a renovated triplex with three units. Each one has 1 bedroom / 1 bath. Rents are currently at $1400/mth. Research and real estate agent said rents are way below market for Ybor area of Tampa. Should be between $2000 - 2400/mth. I’m looking for educated/experienced opinions from landlords and investors in the Tampa area on what rents should be. Also would love advice on any additional resources to research what rents are in that area for this property/area. Many Thanks!

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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3y
Quote from @Remy Piazza:

Looking to acquire a renovated triplex with three units. Each one has 1 bedroom / 1 bath. Rents are currently at $1400/mth. Research and real estate agent said rents are way below market for Ybor area of Tampa. Should be between $2000 - 2400/mth. I’m looking for educated/experienced opinions from landlords and investors in the Tampa area on what rents should be. Also would love advice on any additional resources to research what rents are in that area for this property/area. Many Thanks!

Remy, I can search for 1bed/1bath units all day long and give you numbers, but it's a little like throwing darts at a map. Where are yours located? What is their condition? What's the neighborhood like? Square footage? Condition? Amenities? View out the living room window? Crime rates?
There are way too many variables to consider. If you are going to be invest and manage on your own, I think it's important you learn how to study the market regularly to stay on top of this. Asking strangers on the internet is a great way to get yourself in trouble.
If you don't know how to study a market, or don't have time to invest in it, consider hiring a professional property manager to do it for you.
The DIY Landlord Book4.7243 Reviews
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Obed Calixte
Real Estate Agent · St Petersburg, FL · Member since 2019 · 321 posts · 182 votes
3y
Location matters in Ybor.
You will be hard pressed to receive meaningful price range without know the address and seeing the condition of the unit/building, what features the building has etc.
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Michael Haynes
Investor · Tampa, FL · Member since 2016 · 681 posts · 288 votes
3y
Hello Remy Piazza in NY. You need to learn how to use Zillow and just use the map for Rentals for the address you are thinking about. Talking with an Agent who says it should be worth $2000 to $2400 is leading you on. Think of the people who you would Rent to that want a 1/1...
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Michael SmytheBusiness Member
Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
3y
Why are so many novices looking to make investment decisions based upon free advice?
A fool and his money are soon parted.
Logical Property Management4.9464 Reviews
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Michael Haynes
Investor · Tampa, FL · Member since 2016 · 681 posts · 288 votes
3y
Hello Michael Smythe...Right On Bro!
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