In My Neighborhood in 30009>Question Details

Gwendolynn, Home Buyer in Phoenix, AZ

what kind of rent can one get from a 2 br condo here?

Asked by Gwendolynn, Phoenix, AZ Wed Aug 29, 2012

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6
Gwendolynn, rental rates depend on the amenities and condition of the property. Feel free to contact me, I will provide you with a market analysis.
0 votes Thank Flag Link Fri May 8, 2015
Hi Gwendolynn,
We lease, and manage, properties in the 30009 area. Currently we have 4 older 2BR townhomes with very basic features and no garages that rent for $750 to $850. A newer 2 BR/2BA 1300sq ft condo w/ 1car garage, in a gated swim community across the street leases for $1000 to $1050. Another 2BR/2BA newer townhome with approx 1250 sq feet, no garage, swim community lease for $1100.

Click the link below to see the last 6 monhts market activity, and current available inventory for 2BR/2BA homes in 30009.

http://fmls.fusionmls.com/DotNet/Pub/EmailView.aspx?r=629178…

8103 Woodland and 1410 Kilmington on the list in the link are actually properties that we lease and/or manage in that area.

Keep a couple of things in mind if you are thinking of investing:

1. MOST IMPORTANT! Does the homeowner's association allow leasing in that community? Many, if not most, of the townhome/condo communities in that area are over their limit on the amount of rentals they allow so you would not be able to buy a property and immediately lease it out. In most cases you would need to apply for a lease permit and wait until you get it approved before you can lease. This could take weeks, months, or even years.
2. Keep in mind that you have to factor in monthy condo association dues in your calculations because, in this market, they are not normally passed along to the tenant in addition to their rent payment.

Hope this has helped.

Regards,
Deryk Harper
Broker/Owner
Key Locations Property Management LLC
http://www.keyrentalhomes.com
info@keyrentalhomes.com
0 votes Thank Flag Link Wed Aug 29, 2012
Gwendolyn.....rule of thumb multiplier would be .0075 of average sales price of the community for the last 12 months.....$ 100,000 x .0075= $750

You may find it to be higher or lower depending upon the the community and it's desireability.

Chuck Green,Realtor
Keller Williams Realty
chuckgreen@kw.com
678-578-2788

"Serving Atlanta Since 1984"
0 votes Thank Flag Link Wed Aug 29, 2012
This depends on what your needs are? What area are you interested in living & basically what is important to you. If I can help you in anyway i'd be more than happpy to assist. Kaylane Peters. Keller Williams Realty Metro Atlanta 504-373-9696
0 votes Thank Flag Link Wed Aug 29, 2012
Rental prices are going to vary widely by condo community. There will be no set amount. A lot will depend on the exact location along with the square footage and amenities offered.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
0 votes Thank Flag Link Wed Aug 29, 2012
Asking prices in Alpharetta right now have a wide range, between $795 and $1695 per month, with most being in the $950 to $1200 range. Many are 2-story townhome styles, some even have 1 car garages or are in swim/tennis communities.

Hope that helps! If you want individual listings e-mailed to you let me know.

Kathy

Katherine L. Morrison, Realtor
Broker/Owner
Team Realty Group
Alpharetta, GA
4404-697-4626 (direct)
kathy@chipandkathy.com
0 votes Thank Flag Link Wed Aug 29, 2012
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