Hi Katie, in addition to http://www.craigslist.com,
you might also consider the following sites for checking what you should be pricing your rental at to be competitive:
In regard to your question concerning a general value for homes in the 95118, a Comparative Market Analysis (CMA) gives you the best representation of market price/activity/trend direction - for the specific property details you search on (your home's details). DO NOT rely on median and average-based statistics, these measures are meaningless for targeted selling/purchasing as they have no regard for any of the specifics you may be comparing and can be skewed by segments of market activity not matching your individual situation. A buyer/seller should look specifically at the targeted segment of properties that match their search criteria for the information to be meaningful. Generalized stats are easier to come by, but that doesnâ€™t mean they should be used to make one of the most important financial decisions of your life.
There are a few thoughts that crossed my mind when reading your post that I'll just throw out there void of understanding your complete situation. The primary purpose of the following questions is to consider options you might want to explore:
1) Do you have need to sell, or do you want to sell? The name of the game in Real Estate is property accumulation.
2) Have you considered a refinance to lower your carry cost of the property, which also might make you more competitive in the rental market?
3) Where will you invest if you do sell?
4) Is this a still a primary residence for you where you have the $250K tax exclusion, or have you been treating the property as a rental where you could exercise a 1031 Tax Exchange to avoid the 15% Fed cap gains, 9.3% State cap gains, and 25% Depreciation Recapture taxes?
5) After reviewing competitive market rents, what would your return on invested capital be for this rental? Meaning, take your net profit per year and divide this by your total invested capital (do not include the loan balance, just your principal balance. Next, assume you do sell right now. Will you be able to reinvest the proceeds into an investment that meets or beats the return on invested capital?
Food for thoughtâ€¦.