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Find rental rates for properties

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Introduction

Determining what kind of rental income an apartment building or multi-family home can produce is a significant factor in deciding to invest in or underwrite a rental property. Datafiniti can provide current and historical rental rates for any given property.

Finding a specific property

To search for a specific property, start by searching for that property's address, like so:

{
  "query": "address:\"7325 SW 82nd St\" AND city:Miami AND province:FL",
  "num_records": 1
}

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Address normalization

Datafiniti uses our own street name normalization. Converting street to st, drive to dr, etc, you can learn more about our address normalization here: Normalized Property Addresses


Analyzing the property matches

The above query will return a response like so (abbreviated record shown):

{
    "num_found": 35,
    "total_cost": 1,
    "records": [
      {
        "address": "7325 SW 82nd St",
        "buildingName": "Bermuda Villas Apartments",
        "city": "Miami",
        "country": "US",
        "dateAdded": "2015-10-26T21:25:35Z",
        "dateUpdated": "2023-04-05T05:00:10Z",
        "floorSizeValue": 723,
        "floorSizeUnit": "sqft",
        "geoLocation": "POINT (-80.312377929 25.694877624)",
        "leasingTerms": [
          {
            "dateSeen": "2015-10-26T21:25:35Z",
            "value": "12 Months"
          }
        ],
        "lotSizeValue": 6.73,
        "lotSizeUnit": "acs",
        "mostRecentStatus": "Rental",
        "mostRecentStatusFirstDateSeen": "2022-02-10T00:00:00.000Z",
        "numBathroom": 1,
        "numBedroom": 1,
        "numFloor": 2,
        "numUnit": 20,
        "prices": [
          {
            "amountMax": 1375,
            "amountMin": 1175,
            "availability": "true",
            "currency": "USD",
            "dateSeen": [
              "2020-01-29T09:29:00.000Z"
            ]
          },
          {
            "amountMax": 2399,
            "amountMin": 2399,
            "currency": "USD",
            "dateSeen": [
              "2023-04-05T05:00:00.000Z"
            ]
          }
        ],
        "propertyType": "Multi-Family Dwelling",
        "province": "FL",
        "statuses": [
          {
            "dateSeen": [
              "2021-01-16T12:42:00.000Z"
            ],
            "firstDateSeen": "2021-01-16T12:42:00.000Z",
            "lastDateSeen": "2021-01-20T00:12:00.000Z",
            "type": "Sold"
          },
          {
            "dateSeen": [
              "2021-04-22T21:45:00.000Z"
            ],
            "firstDateSeen": "2021-04-22T21:45:00.000Z",
            "lastDateSeen": "2022-01-01T22:16:00.000Z",
            "type": "Rental"
          },
          {
            "dateSeen": [
              "2023-04-05T05:00:10.627Z"
            ],
            "type": "Rental"
          }
        ]
      }
    ]
}

There are a couple important things to understand about this response:

The num_found is 35. This means there are 35 matching properties at this address. This makes sense, because the address is the location of an apartment complex with multiple units. Datafiniti has split out each unit into separate records.

The rental prices are available in the prices array. Looking through the list of prices, we can see various objects. Each one contains a specific price and the date when that price was seen. We can use this information to determine the rentable value of the property. By looking at all the properties' prices, we can determine how much income could be generated from this complex.

Find the most recent rental price

While we have a historical record of rental prices in the prices field, we also have a field dedicated to the most recent rental price amount. This field being mostRecentRentalPriceAmount. Let see what that looks like in comparison to this historical data.

🚧

mostRecentRentalPriceAmount vs mostRecentPriceAmount

Please note that mostRecentPriceAmount no longer contains a rental price if mostRecentRentalPriceAmount is populated in the record.

We will update the previous query to show properties with mostRecentRentalPriceAmount populated:

{
    "query": "country:US AND city:Miami AND province:FL AND mostRecentRentalPriceAmount:*",
    "num_records":10
}

This is a snippet of the result you will see:

{
  "mostRecentPriceAmount": 6500,
            "mostRecentPriceDomain": "www.nestfully.com",
            "mostRecentPriceFirstDateSeen": "2024-06-13T11:03:33.663Z",
            "mostRecentRentalPriceAmount": 8940,
            "mostRecentRentalPricePeriod": "Per Month",
            "mostRecentRentalPriceDomain": "www.apartmentguide.com",
            "mostRecentRentalPriceFirstDateSeen": "2024-02-28T08:09:11.463Z",
}

You can also find the mostRecentRentalPriceAmount in our prices field. 

{
                    "amountMax": 8940,
                    "amountMin": 8940,
                    "currency": "USD",
                    "dateSeen": [
                        "2024-02-28T23:40:24.123Z",
                        "2024-02-28T08:09:11.463Z"
                    ],
                    "firstDateSeen": "2024-02-28T08:09:11.463Z",
                    "lastDateSeen": "2024-02-28T23:40:24.123Z",
                    "domains": [
                        "www.apartmentguide.com"
                    ],
                    "isSale": "true",
                    "period": "Per Month",
                    "pricePerSquareFoot": 5.32
                },

Additional information

There are a number of other fields returned for each property that can be useful when determining the value of a rental property. Any of these fields may affect an investment or underwriting decision:

  • floorSizeValue and floorSizeUnit - These show the size of the individual units.
  • numBathroom and numBedroom
  • numFloor
  • parking
  • petPolicy
  • propertyTaxes
  • yearBuilt

Example Records

Here are example bulk download files of our previous query:

Conclusion

With multiple records from the same area, you can compare and find rental property that fits into your use case. Compare Price, search availability, and look up move in dates using this report.

Updated 30 days ago