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Answers (4)
Best Answer
- Mark Gallagher, "MarkGallagher"
- Contributions:101
Have you looked at places like craigslist.org that have lots of rentals listed to see what the market rent is for your type of home?
As a very basic starting point, you could start by asking for 20% over your mortgage - if you get too many responses, your rent is too low. If you don't get enough responses, your rent is too high. Then you can reevaluate your asking price.
As a very basic starting point, you could start by asking for 20% over your mortgage - if you get too many responses, your rent is too low. If you don't get enough responses, your rent is too high. Then you can reevaluate your asking price.
- Damon Williamson, "RealtorDamon PRO"
- Contributions:165
Rental market in any good area right now is very strong. I would say you could get around $2000 a month for that home. I know the street and live close to it. The neighborhood is nice and a lot of people are having a hard time financing homes. Good luck!
- Naima Sumner, "Dallas Ft. Worth PRO"
- Contributions:2847
Not that much demand for rentals in Murphy but also not many homes are for rent. Right now there are only 10 on the market ranging from $1750 for a 2900SF 3-2-2 to a price of $2500 for 4300sf.
The only downside for your house is that you have 2.5 baths. For a home of over 3000sf, most people will expect at least 3 full baths. However, you have an incredible lot size being in Murphy Farms.
Naima
The only downside for your house is that you have 2.5 baths. For a home of over 3000sf, most people will expect at least 3 full baths. However, you have an incredible lot size being in Murphy Farms.
Naima
- Loretta Buckner, "RealWorldProperties"
- Contributions:205
Mark's suggestion is a good one--I always check Craig's List for comparable local rentals when I'm pricing--also MLS (here, at least) is beginning to be much more popular for listing rentals. I suggest checking at least three sources--here in Zillow is one--your local paper and Craig's List are two more.
In these days of underwater mortgages I seriously doubt that using your mortgage as a factor is not the best method--however, I have always ballparked rental value around the market value of the home--in my market monthly rents have always fallen around 1% of the actual market value of the property (on single-family homes). Your market may be different.
I want to rent my house on 241 love bird ln Murphy tx 75094. How much should the rent be?
Year built 2003
Lot size 11,918 sq ft / 0.27 acres
Covered area 3262 sq. ft.
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