Calculating ROI for Converting Primary Residence to Rental Property
Hi everyone! My husband and are are planning to move out of state next spring and are considering renting our primary home while purchasing a new one. Our primary home was a rental property before I bought it and the neighborhood we are in does well with rentals.
I'm looking to calculate ROI and rental income and appreciation projections, but all of the forumlas and spreadsheets I'm finding are for homes being purchased specifically for rental, not converting an owned house. Our house has significant equity, and I want to ensure that we are taking all of that into account.
Does anyone have any recommendations on calculators or what numbers to plug into the standard calculators to get an accurate reflection?