Turnover-vs-Renewal Break-Even — gMAPgFl

Turnover-vs-Renewal Break-Even for Demo Property · West Fargo, ND

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The market gap ($268/mo) does NOT clear the turnover break-even ($483/mo) -- renewing in place is the stronger financial move.

AI summary — generated from this report's data

The current market rent for the property is estimated at $2,368 per month, representing a market gap of $268 (12.8%) above the current rent of $2,100. However, the estimated turnover cost is $5,800, which translates to a break-even rent increase of $483 per month. The market gap of $268 per month does not clear this break-even threshold, indicating a surplus of $-215 per month.

The market gap of $268/mo is less than the $483/mo required to clear the turnover break-even.
The total one-time turnover cost is estimated at $5,800, which includes $1,500 for make-ready/repairs, $1,200 for additional make-ready, $1,000 for leasing/marketing fees, and $2,100 for vacancy loss.
The reader should verify the accuracy of the $5,800 turnover cost estimate, particularly the components for make-ready and vacancy loss.

mediumThe estimated market gap of $268/mo is significantly lower than the $483/mo break-even rent increase, suggesting that a renewal in place may be more financially advantageous than incurring turnover co

Advisory read: The data suggests weighing the financial implications of the $268/mo market gap against the $483/mo turnover break-even when considering renewal versus turnover.

Break-even rent increase

$483/mo

(23.0% of current rent, first-year recovery)

Estimate confidence

Measures how tightly the underlying data agrees — internal consistency, not verified real-world accuracy.

Current rent

$2,100

Your input

Market rent

$2,368

12 comps

Market gap

$268 (12.8%)

Available upside

Turnover cost

$5,800

One-time, all-in

Clears break-even?

Surplus $-215/mo

Verdict

The market gap ($268/mo) does NOT clear the turnover break-even ($483/mo) -- renewing in place is the stronger financial move.

Turnover cost build-up

Make-ready / repairs (turn_cost)$1,500

Additional make-ready$1,200

Leasing / marketing fee$1,000

Vacancy loss (30 days @ $70/day)$2,100

Total one-time turnover cost$5,800

Break-even vs. market gap

A turn pays for itself in year one only when the available market gap exceeds the break-even bar.

What this means

This compares the extra rent a fresh lease could capture (the market gap) against the extra rent needed to recover the one-time cost of turning the unit within the first year. A positive surplus favors testing the market; a negative surplus favors renewing your current resident. It excludes the retention value of a proven, on-time tenant, which typically tilts the decision further toward renewing.

Current rent is your supplied current_rent input.

Defaults assumed where not supplied: turn_cost $1,500, leasing_fee = 1 month's rent, vacancy_days 30, make_ready $0.

Break-even amortizes the one-time turnover cost over 12 months; a longer recovery horizon would lower the break-even bar.

Excludes the (real but hard-to-quantify) value of retaining a known, paying tenant.

Advisory only -- not investment advice.

Report generated on August 03, 2026. Figures are retrieved live or from a short-lived cache (up to 30 days for some public-data sources), so a figure may pre-date this report — each context card states its own data vintage. Comparable recency is shown per comp; county assessment figures reflect the assessor's latest published tax year; HUD figures reflect the current published fiscal year.

Rentari IQ rent estimates are informational market references, not pricing instructions. They are generated from your own property data, real comparable market listings, and — where local listing data is limited — AI-estimated market references (clearly labelled as such), never from other landlords' confidential rents, to support your own independent pricing decisions. You set your rents; Rentari does not. Every estimate is an advisory data point, and you remain solely responsible for the rent you charge. Estimates are not appraisals or legal advice and do not account for fair-housing, rent-control, or local pricing laws. Confirm every rent independently and comply with all applicable federal, state, and local requirements.

Disclaimer

This report is for informational purposes only and does not constitute financial, legal, investment, tax, or appraisal advice. Figures are drawn from the public and licensed data sources below and, where noted, AI-generated insights (Google Gemini) — always labelled as such. Please consult qualified professionals before making any decision.

Data sources

Rent comps & listings: RentCast · Property value, tax & assessment: ATTOM Data · Fair Market Rents & income limits: HUD (HUD.gov) · Demographics, income & housing medians: U.S. Census Bureau (American Community Survey) · New-construction supply: U.S. Census Bureau (Building Permits Survey) · Migration & income flows: IRS (Statistics of Income) · Employment, wages & rent inflation: U.S. Bureau of Labor Statistics · Flood zones & natural-hazard risk: FEMA (Flood Hazard Layer, National Risk Index) · Environmental screen & walkability: U.S. EPA (Superfund, AirNow, Walkability Index) · Seismic design values: U.S. Geological Survey · Mortgage market & rates: HMDA / Freddie Mac · Street View & geocoding: Google Maps · AI summaries & AI-estimated comps: Google Gemini (clearly labelled where used) · Your own executed leases: de-identified, from your account only