Missoula, MT - Duplex househack - OPINIONS NEEDED

[Bridger L Logan]

Hello all,

I am looking for any feedback regarding a deal I am heavily considering. If you are not familiar with the Missoula market, it is hot at the moment (like most) and deals come and go fast. Rents are rapidly increasing here. I saw this one and acted quick and would like to see how other view it.

Cost: $345000

Location: East missoula

Duplex (separated houses) 3bed 1 ba, 2bed 2ba

Separately metered.

2007 build (2/2) & 1920 build (3/1) (07 remodel)

3/1 market rents are $1200 +/- 120 (currently)

2/2 market rents are $1100 +/- $110 (currently)

I will be living in the 2/2 for ~ 1yr (househack)

VA loan used, 30 yr, ~3%

PITI is around $1800/mo

Operating costs living there ~ $250/mo

Operating costs moved out ~ $500/mo

Rents will go up in the coming years and this deal is located next to an area of rapid development and gentrification.

Any input is appreciated and thanks for your time!!

[Jeremiah Purdum]

Bridger,

Missoulian here as well. Your rental rates seem pretty accurate to me. Though I haven't followed East Missoula vs Missoula much. My concern is your operating costs with the remodeled duplex. 

do you know anything about that remodel? Old home remodels can be done really well (everything inside the walls is upgraded) or new drywall could cover up years of hassle for you. Just something to consider. Maybe increase your operating expenses (which seam low) to make sure it still "pencils" for you. 

as a house hack it sounds very interesting. Those are my two cents for now.