Usually, a homeowner who's not going to be using their place any longer has a specific plan. They'll either hold it (and lease it out), or sell it.
Sometimes, potential sellers are just as happy to try both directions at once – listing a home for rent and for sale at the same time.
You double your audience, and increase your odds of finding an acceptable deal – assuming you don't need to cash out of the property just yet.
Here are a few recent examples, starting with a couple that have made their deals.
506 Manhattan Ave. (3br/2ba, 2120 sqft.) may be one of the more dramatic examples (what a start!), in that it was offered for sale late last year, quit, then was offered for rent & had a lease signed early this year, but the would-be new tenants dropped out.
So instead, they decided to try selling again, and this time, the effort to sell was successful. (It's in escrow, last at $3.995M.)
Guess it's hard to say what will happen if you try both.
506 Manhattan Ave. is listed by Edward Kaminsky, eXp Realty of California, Inc.
1161 8th (4br/4ba, 3005 sqft.) is an upgraded corner-lot home in East Manhattan, where most of the outdoor space is a front patio. (The lot's a bit small at 3981 sqft.)
It was listed the same day in early February this year both for rent and for sale.
Rental asking: $11K/mo.
Sale asking: $3.300M
They got $10K on the rental.
1740 2nd (6br/5ba, 4012 sqft.) tried for months to lease out and just didn't find a match.
So they rebooted the lease listing, and came to market to see if there's a buyer.
Two lease listings ran from Aug. 2023-Jan. 2024, then the home hit the sale market in early March, asking $3.850M.
A couple of weeks after listing for sale, they added a lease listing at $11K//mo.
Six weeks later, they're still looking for some action. (To be fair, this is a pretty slow time of year for rentals.)
1740 2nd is listed by Justin Miller, Beach City Brokers.
4113 Crest (3br/3ba, 2295 sqft.) is new construction that has been playing this game for a while.
In May 2022, it was listed at the same time both for sale ($4.900M) and for rent ($25K/mo.).
Another for-sale listing ran from late 2022 into early 2023, but the lease alternative was gone.
From Spring-Summer 2023, it was offered again for sal, still at $4.900M. A late 2023 listing brought the price down to $4.500M, while a fresh listing this week is at $4.400M.
Price adjustments were also going on with mostly simultaneous lease listings, seeing the ask drop to $18K, $16K, $14K, $12K and lower, with a brand-new lease listing this week asking $11,250.
4113 Crest is listed by Magnus Hellberg, Coldwell Banker Realty.
1315 17th (7br/5ba, 2326 sqft.) is an unsual, sort of cobbled-together duplex next to Meadows elementary.
The two units (one upstairs, one down) have been offered for rent since Aug. 2023, varying in price along the way. (They're now at $5,290 and $4,885.)
More recently, both units have been offered in one $10K/mo. offering that specifically touts the building as an "[e]xceptional sober living opportunity ... ready for your new business."
And the units have also been offered for sale alongside these rental options since October, starting at $2.595M and now down to $2.395M.
1315 17th is listed by Emory Donelson, RE/MAX ESTATE PROPERTIES.
2407 Bayview (2br/3ba, 2203 sqft.) is an upgraded 1980s TH with huge ocean views.
The for-sale listing began in October last year at $3.950M, and ran a couple of months. It came back in early February at the same price, and is down $100K now to $3.850M.
Just as the new sale listing came out this year, they also posted the property up for rent at $14K, now down to $13,800.
2407 Bayview is listed by Louis Scaduto, Premier Agent Network Inc.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
