You know what is also interesting, is that the purchase price pretty much exactly doubled along with the rent. The original purchase price was 182K with 10K of rehab. This spring it would sell for 385K, which is exactly double.
Rent went up 100% and purchase price went up 100% in 12 years.
I find it more interesting when I compare it to my Florida rental, which is much different.
I was under contract in Fort Myers, FL in October 2011 and closed in Jan 2012. Purchase price was 95K with 16K of rehab, so all-in at 111K. Today it would sell for 250K, which is an increase of 125%.
Market rent was around $1200/month in 2012. It's been a rental the last 4 years and it currently rents for $1850/month, which is an increase of 54%.
Purchase price went up 125%, but rent only went up 54%, over the last 7 years. However, if rent continues to increase at the current pace, rent should double in 12 years as well.