Monica, Home Buyer in Hunts Point, WA

How much rental income can I get for a brand new three bedroom and two bedroom apts that I own in Hunts?

Asked by Monica, Hunts Point, WA Mon May 12, 2008

Point, with a 5 minute walk from the subway.

Help the community by answering this question:

Answers

1
RENTERS WILL PAY MORE FOR MORE SPACE!
3 bedrooms apartments rental rates vary depending on the size and whether or not utilities are included. If you have an large 3 bedroom with a separate dining room, without utilities included, with a working family, you could probably get $1450 to $1550; That is if the apartment is not on the 3 floor or higher in a walk-up building. Probably $100 more for a working program (e.g. section8). The reason is that many 3 bedrooms do not have spacious rooms and at best have a dining area in the kitchen.

Now if the apartment is lacking spaces (smaller 3 bedroom, small hallways, small eating area, etc), rental rate would probably be $1350 to $1450 for a working family and $100 more for a working program.

Remember to screen your tenants! It is a disaster waiting to happen if the do not meet the income requirements. Plus, go with your gut instant. If you get a bad vibe, your probably right. It doesn't matter how long the apartment has been on them market.

Good luck.
0 votes Thank Flag Link Mon May 12, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer