Market Conditions in 38107>Question Details

Donna Owens, Other/Just Looking in

if a home is worth 70,000 and built in 1920 4 bedroom 2 bath how much should rent be

Asked by Donna Owens, Tue Mar 18, 2008

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Condition and location are the key. You seem to be speaking from zip 38107, where there is a wide variety of neighborhood conditions. Did you get the $70,000 figure from the tax assessor, or a recent appraisal? Is the home in good conditon with upgrade, and good heat and air? would it be considered a safe and walkable block? Is in a good school district? All these could be factors. Contact me for a no-obligation evaluation.
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0 votes Thank Flag Link Tue Mar 18, 2008
Hi Donna,

It depends on what area of town you are talking about. Does it have central heat and air, a carport or garage, a front yard and back yard, a fence. A $70K house in Frayser rents differently than one in Bartlett and one downtown versus midtown and so on. Also, is this from an individual or from a property management company - big difference, usually about 10%.

Take care,

Jo Shaner
0 votes Thank Flag Link Tue Mar 18, 2008
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