I am looking at replacing the Heating and Cooling system for a 1,800 square foot SFR in 38119. My property management company is quoting me "14 sear 410 A freon 4 ton Goodman complete system they would be looking at $5500 That is the condenser evaporator and furnace."
I haven't had to replace one before and am looking for someone to let me know if this passes the reasonableness test.
@Daniel Foster , That's not a horrible price, quite a bit under what your typical retail client would pay. I'm not sure who your property management company is, but I'd be happy to check our prices when I get into the office tomorrow. I might be able to beat it by a little bit. Did they say whether it needed a new copper line set or not? What about a Condensor Cage?
While, that is a good price off of retail, it is a little expensive for a investor with the property management group that can secure a discount. I would say about 3500. I just paid $3000 for a 3 1/2 ton system.
This is all great info... which comes at a perfect time for me. I am closing on a triplex soon and I would like to install all central heat and air. Whats the typical price for a 500-700sf 1bd/1Ba unit. Also note I have 3 units that are all this size, should I be offered a greater discount for getting 3 ?Downtown/midtown Memphis .
Depends, do you need duct work done? If all you are doing is a install of a very small HVAC system for 700 sq ft, then it should be about $2,300. With it being that small, could you not just offer window units? Central HVAC for that small is an expensive expenditure.
Copper line set should not cost that much more. Look the price up at Home Depot. Cage should be around $350.
I'd refer to @Chris Harkins he is a good guy.
So I've been in Memphis for a week and getting bids on various components, HVAC system being one of them. The contractor says I need a 3 ton 14 seer unit. I ask him to send me an email with the quote and he responds with I'm going to give you a quote right now. He fills in their form and writes down $9,782.
The house has 1,200 sqft living space and the ducts are in decent shape.
Contractors will look you in the eye and quote astronomical prices. It is saddening thinking that retail buyers will accept those ridiculous prices.
Also seems pretty common to ask $1300-$1400 to install a water heater!!!
For the heck of it I asked the guy why they charged 1300 for a water heater when they're 450ish at Home Depot and even at $100/hour it's not going to take 9 hours to install it. He basically told me to stick to buying houses and they would stick to installing water heaters.
A guy from Alex Craig's property management company gave me some references which are coming in at much more reasonable prices, thank goodness!
We can beat any prices. 1400 for a hot water tank is ridiculous. I have a investor who's properties we manage that also has some Texas properties. He told me he paid $1,100 for a hot water tank install. We can get done in most cases from 600 to 700.
That being said, being able to leverage large volume in business helps to negotiate the best pricing.
Andrew gave you the name of a roofer we use for repairs. If you need a new install, PM me and I can get that for about $105 a square installed (labor and materials) by licensed roofer.
@Alex Craig yes I will need the duct work as well. I was hoping to attract a better kind of tenant. Do you think that it wouldn't be worth it ? Douglas Skipworth Erik Nowacki
It all depends. Send me a pm with the address and details and I will give you my opinion. I just bought a 4 plex in midtown near Overton Park. I am putting central HVAC on a 2/1 that is about 1,000 sq ft. But also updating bathrooms, granite in kitchen and a lot more to take rent from 650 to 850 per unit. The area will sustain that; not all areas will.
I think I agree with Alex on this one. You should be able to keep the window units while maintaining the rent at a market rate. Said another way, I don't think the increase in rents you would receive would offset the cost of the new central air system.
What is the current rent rate?
$500 a month per unit on the low end