Calculator Documentation
Rent Estimator
Estimate market rent from comparable rentals, no subscription data required
Schema version 1.0.0 · Category: investment
Inputs
Your Property
The property you are pricing
| Field | Type | Default | Notes |
|---|---|---|---|
| Square Footage | number | 1200 | Living area of your rental |
Comparable Rentals
Similar nearby rentals (Zillow, Craigslist, Facebook). At least two.
| Field | Type | Default | Notes |
|---|---|---|---|
| Comp 1 Monthly Rent | currency | $1,850 | Asking or leased rent |
| Comp 1 Sqft | number | 1150 | Square footage of comp 1 |
| Comp 2 Monthly Rent | currency | $1,975 | Asking or leased rent |
| Comp 2 Sqft | number | 1300 | Square footage of comp 2 |
| Comp 3 Monthly Rent (Optional) | currency | $0 | Leave 0 to skip |
| Comp 3 Sqft | number | 1200 | Square footage of comp 3 |
| Comp 4 Monthly Rent (Optional) | currency | $0 | Leave 0 to skip |
| Comp 4 Sqft | number | 1200 | Square footage of comp 4 |
Adjustment
Condition and amenity tweak
| Field | Type | Default | Notes |
|---|---|---|---|
| Condition Adjustment | percentage | 0.00% | Nicer than the comps? +5-10%. Dated? -5-10%. |
Calculations
Every figure this calculator produces, in evaluation order. Formulas reference input ids, parameters, and earlier calculations.
ppsf1Comp 1 rent per sqft
if(comp1Rent > 0, comp1Rent / max(comp1Sqft, 1), 0)
ppsf2Comp 2 rent per sqft
if(comp2Rent > 0, comp2Rent / max(comp2Sqft, 1), 0)
ppsf3Comp 3 rent per sqft
if(comp3Rent > 0, comp3Rent / max(comp3Sqft, 1), 0)
ppsf4Comp 4 rent per sqft
if(comp4Rent > 0, comp4Rent / max(comp4Sqft, 1), 0)
compCountHow many comps were provided
if(comp1Rent > 0, 1, 0) + if(comp2Rent > 0, 1, 0) + if(comp3Rent > 0, 1, 0) + if(comp4Rent > 0, 1, 0)
avgPPSFAverage rent per sqft across provided comps
(ppsf1 + ppsf2 + ppsf3 + ppsf4) / max(compCount, 1)
minPPSFLowest comp $/sqft
min(if(comp1Rent > 0, ppsf1, 999), if(comp2Rent > 0, ppsf2, 999), if(comp3Rent > 0, ppsf3, 999), if(comp4Rent > 0, ppsf4, 999))
maxPPSFHighest comp $/sqft
max(ppsf1, ppsf2, ppsf3, ppsf4)
estimatedRentEstimated monthly rent for the subject property
avgPPSF * subjectSqft * (1 + conditionAdjustment)
rentLowLow end of the range
minPPSF * subjectSqft * (1 + conditionAdjustment)
rentHighHigh end of the range
maxPPSF * subjectSqft * (1 + conditionAdjustment)
compSpreadPctSpread between comps: tighter = more confident estimate
if(avgPPSF > 0, ((maxPPSF - minPPSF) / avgPPSF) * 100, 0)
wideSpreadFlag: comps disagree by more than 25% (0 = tight, confident)
if(compSpreadPct > 25, 1, 0)
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