Rental Double-Takes

I assume that I’m not the only Twin Cities Realtor still adjusting to the addition of rental data on MLS (since Sept. 1).

So, in addition to finding “for sale” properties on searches I’ve saved for various clients (what Realtors call “hot sheets”), there’s now the stray rental included.

If you’re skimming quickly (like I am), the tip-off is price: $1,500 or some such, vs. $200,000, $450,000, etc.

So, when I saw $20,000 the other day, I did a double-take: what Twin Cities home rents for $20,000 a month??

Manhattan Prices in Mpls.?

It turns out that it wasn’t a rental, it was a home for sale — and that’s the asking price!

Presumably, there’s a quick solution to the above, which I’ve yet to do: tweak all my saved searches to exclude “rentals.”

However, with only 300-odd rentals total on MLS, the problem doesn’t come up that often. Yet.

P.S.: So what is the most expensive rental on MLS now?

For $9,950 a month, you can rent 1006 Wildhurst Trail in Orono, a 6,400 square foot home in Orono with 5 BR’s, 7(!) Baths — and 140 feet of shoreline on Lake Minnetonka.
About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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