All Forum Posts by: Eskat Asfaw

Look at a variety of websites marketing rentals: zillow.com, realtor.com, apartments.com, etc. Look for properties in the same (or similar) neighborhood with the same size and amenities. See what others are renting for, the price yours accordingly.

You can't do this once and know the market. Just because a house is listed for $4,500 doesn't mean it rents for that price, or that it rents quickly. If you watch the market every day for a couple weeks, you'll quickly learn what is renting and what is sitting on the market. You'll see price adjustments.

I recommend you watch the market daily for at least two weeks to get an idea of what is happening, then list your property for the right price. Even after renting, you should check the market every month or so to keep an eye on prices, vacancy rates, etc.

Thanks, that's a great idea. I will check the market daily over the next few weeks

1 Vote

Washington, DC

I am wrapping up rehabbing my first property by myself in DC and getting confused on how to price it, It is a townhouse 4bed, 2.5bath in NE

I am hoping to rent it to someone with a housing voucher covering 90%+ of the monthly payment.

DC Housing told me to look up our address on affordablehousing.com, and that is the max we can rent the property, it shows $4,270, and I would like to rent it at $4500.

I posted the unit on Zillow at $4500 to gauge the response, and I got 15+ applicants within a few days. I am unsure if this means the price is correct or too low.

Any advice on how I should think about pricing the property would be helpful.

0 Votes

Washington, DC

Hello BiggerPockets Community!

My name is Eskat, and I'm thrilled to join. I'm based in Maryland, where I currently own a few buy-and-hold residential properties alongside partners. I'm now looking to learn from all of you and expand to other markets.

I'm particularly interested in branching out into out-of-state investing, specifically targeting markets like Phoenix, AZ, and Detroit, MI. My goal for this year is to learn as much as I can about these areas and acquire a few rental properties.

The wealth of knowledge and experience within this community is something I'm eager to tap into. I'm looking forward to learning from all of you and hopefully forging some valuable connections along the way.

1 Vote

All Forum Posts by: Eskat Asfaw

Eskat Asfaw has started 2 posts and replied 3 times.

Post: Pricing my rental unit

Post: Pricing my rental unit

Post: MD Investor Exploring OOS Opportunities in Phoenix & Detroit