I need help with a rent estimate in central Edmonton.

[RhondaFroese]

Hi everyone

,

I am looking at buying a house located in the neighborhood of McCauley at 108Ave and 92 St in Edmonton. I`m not familiar with the area and understand that it is one of transition. I would really appreciate some feedback about what you think a renovated 3 bedroom, 1 bathroom house with a garage and on site laundry would rent for in this area.

Thanks,
Rhonda Froese

 

[tbarcier]

QUOTE (RhondaFroese @ Dec 12 2008, 05:51 PM) Hi everyone

,

I am looking at buying a house located in the neighborhood of McCauley at 108Ave and 92 St in Edmonton. I`m not familiar with the area and understand that it is one of transition. I would really appreciate some feedback about what you think a renovated 3 bedroom, 1 bathroom house with a garage and on site laundry would rent for in this area.

Thanks,
Rhonda Froese

Rentometer.com avg rent $1500, I don`t know how much good that is, however I hope someone else will post so we can see how accurate it is.

 

[ZanderRobertson]

Read these two threads before proceeding:






Hi everyone

,



I am looking at buying a house located in the neighborhood of McCauley at 108Ave and 92 St in Edmonton. I'm not familiar with the area and understand that it is one of transition. I would really appreciate some feedback about what you think a renovated 3 bedroom, 1 bathroom house with a garage and on site laundry would rent for in this area.



Thanks,

Rhonda Froese

 

[ToddStokowski]

For what it`s worth, we rent out our one bedroom condos in that area for $833.00 per month.
We don`t have any houses in that area, so I can`t offer you any estimates. Consider driving the area and see if there are any "For Rent" signs up. Call the number and you`ll get some indication.
Todd

 

[Thomas Beyer]

QUOTE (RhondaFroese @ Dec 12 2008, 03:51 PM) I am looking at buying a house located in the neighborhood of McCauley at 108Ave and 92 St in Edmonton. I`m not familiar with the area and understand that it is one of transition. I would really appreciate some feedback about what you think a renovated 3 bedroom, 1 bathroom house with a garage and on site laundry would rent for in this area.
Assuming utilities are paid by tenant, and with only 1 bathroom I`d say: $1100 to $1300 .. depending on specific neighborhood as McCauley has some decent and some ugly pockets, upgrades, views, houses next door ..

 

[ChrisDavies]

QUOTE (ZanderRobertson @ Dec 12 2008, 04:02 PM)
Read these two threads before proceeding:



http://myreinspace.com/public_forums/Real_Estate_Discussion/62-5912-East_Edmontons_Black_Trangle.html



http://motorcycles.about.com/od/howtostartridin1/ss/How_To_Ride.htm



I also think there is great potential for a transition in this neighborhood, but have chosen to wait. remember the rule of transitional neighborhoods is to enter at the right time, too early and it might turn out to not be a transition at all. there are too many questions about this neighborhood right now for my risk tolerance. perhaps yours is higher than mine.



in any case these posts have some good info.



note: even if you do decide to go ahead with it, stay away from WW1 era houses, renovated or not they're problems waiting to happen. there are brand new half duplexes listed at 200,000 in this neighborhood, no need to buy old.




Zander's right, as the old places in this area can have some issues. Brent mentions it in the first link there. It might be a good place to get into now, but I haven't been doing an indepth CMA during the current cycle as I'm buying other neighborhoods.

 

[wgraham]

I have a house on 123rd and 92nd that I rent for 1300 3 bed/1 bath main floor only with garage. I get 910 for the basesment 3 bed 1 bath.

Hope that helps
W

 

[RogerPanchuk]

QUOTE (RhondaFroese @ Dec 12 2008, 03:51 PM) Hi everyone

,

I am looking at buying a house located in the neighborhood of McCauley at 108Ave and 92 St in Edmonton. I`m not familiar with the area and understand that it is one of transition. I would really appreciate some feedback about what you think a renovated 3 bedroom, 1 bathroom house with a garage and on site laundry would rent for in this area.

Thanks,
Rhonda Froese


We have a 3 bedroom main floor close by at 12712 - 94 st that we rent for $1195 they get the double garage included and utilities are extra. The house is in very nice condition and it is on a good street. We rent the lower suite for $850 plus utilites.We are interested in selling this property to help fund some recent purchases in Calgary

RogerPanchuk