The most common question I get when working with investors is, "How much rent can I get for this place?" That is a touch question since rents often fly below the radar. Sometimes they are in the MLS, but often they are not. There is no tax database of rents like there is for sales. People put signs in the window of their rental house, rent it and never need to share the rental rate with anyone.
I can search the MLS for rents, but I usually also look on Craigslist.org and the Washington Post to see current rental comps in a given area.
I recently discovered a new website that really helps in the battle to figure out rental rates, it is http://www.zilpy.com/ and it is currently in BETA, or testing, mode.
I found the site really useful and fun. Plug in your own address and see if you agree with the rental rate they suggest. They locate comps in the immediate area and tag them on an easy to use Google map. I would not suggest using this as your sole method for determining rental rates, but I do thing it is another useful tool in that process.
Speaking of investment property, be sure to contact me if you have been thinking about picking some up, there are great deals out there right now! I am easy to reach at Michael@RealAstute.com or 202-369-9821.
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