Help Finding First Tenant

Hello Guys,

I have my first property purchase underway. I close on a duplex in a college neighborhood in San Diego. Both units are 1 bed / 1 bath and I secured it using a VA loan. The closing date is 8/16.

I wanted to get the ball rolling and started Pre-marketing the nicer unit on Monday 7/31. I wasn’t sure what the market value for rent was but I definitely set the initial price point high.

For a 600 sq ft, 1 bed 1 bath, updated kitchen, hardwood floor, W/D set, private yard, and ~300 sq ft covered patio I set the price at $2100. I honestly wasn’t expecting any response at all.

Within the first 1.5 days I got 4 leads. This past weekend I had a few more and a scheduled viewing for tomorrow. I contacted all the leads that came in earlier this week but I haven’t gotten a response back via phone or email. So I guess they lost interest.

So does this validate that the price I am requesting is an honest value? Should I continue to market it at this price for the following week? What metrics do I use to determine if I need to drop the price or not?

Thanks

I didn’t find the right solution from the internet.
References:
– https://www.biggerpockets.com/forums/52/topics/474058-help-finding-first-tenant
– Brand Communication Video Examples.