There is a huge variance in homes in 95118 - are you Willow Glen? Cambrian? 1200sf? 2500sf? granite? marble? age?
I just rented out a 4/2 2100sf townhome with 2 car gar, yard and formica counters in downtown Willow Glen for $2150 and then I did a SFR in Campbell for $1795. It really depends upon the property.
In general, the rental market is getting stronger and vacancies are decllining as folks loose their homes and become renters. The apartment market is expecting a very good year as ROI climbs.
Before you rent the place out - and if you are planning of buying something else - talk to a lender. There has been a bunch of Buy and Bail scams on lenders and I know that FHA has been tightening the rules on buyers that plan to rent the old property.