There are several Mueller rental options, though rental inventory is extremely low in the single family home, condo and townhome portions of the neighborhood. Mosaic has luxury apartments for rent, but for those looking for a private yard space, there are few options. Bad news for tenants, but great news for owners and prospective landlords.
Taking a look at the MLS lease listings from 2011, the breakdown of pricing is as follows:
Single family homes (aka yard homes): between 1600 and 3200sqft for between $2100 and $2750 a month. That doesn’t tell the whole story – there was a 2700sqft home that leased for $3000 per month. Looking at the average, the lease listings run at about $1.15 per square foot, which equates to around $2300 for a 2000 sqft 3 bedroom home with an office. It’s never a good idea to focus on averages for anything more than a vague ballpark. For example, rent rates varies greatly on the features and size of the home – for example a net-zero capable home with solar PV panels would rent for significantly more as the cost of living to the tenants would be lower (no electricity bill). I give this example as I had one off market lease listing last year which had a solar array.
Town houses (aka town homes, row homes): between 1700 and 1800 sqft for between $2350 and $2700 a month. While these town homes had small yards, they also have exterior landscaping taken care of, which appeals to some tenants. One of these homes was also fully furnished, which demands a premium too.
So this gives you a ball park rental rate, from which you can build. If you’re looking at your cash flow model as a would- be landlord, it’s important to factor in HOA dues, potential increases in property tax bills (if home prices continue to rise and you lose your homestead exemption), marketing fees and property management if you require that. (Many of the larger firms charge 8% of the gross rent to manage your tenant in your absence).
Get in touch if you would like to know more about leasing a home at Mueller – 512 215 4785.