How much of a drawback is not having garages in duplexes?

Multi-Family and Apartment Investing
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How much of a drawback is not having garages in duplexes?

Derrek J Hooyman
Member since 2022 · 25 posts · 11 votes

The market is very slow in my area.  I found a place that I really like.  It is only about 2 miles from work and very close to where I workout.  I plan on house hacking this duplex and most of my mortgage should be paid for.  The one unit has no garage on one side.  I'm guessing it would be like $50-$100 less in rent.  It is in a good location and city though.  The one side does have a shed to store bikes and etc from getting stolen.  The other side has a detached garage which my parents (landlords) recommended getting an attached one.  

However, the market has been so slow and the price is right for this place.  Although it doesn't have air conditioning and one side is missing a garage.  How much of a disadvantage is not having a garage in a Midwest state with a decent amount of snow?  I don't think it is worth building a garage for $10,000 to $20,000 based on returns.  Any advice for me?  I am just beginning my journey into real estate and being a landlord.  

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Taylor L.
Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
4y

Look at nearby rentals in a similar rent range. How many of them have garages?

Generally speaking garages aren't all that common in rental real estate. You didn't say specifically where in the midwest you are, but in many areas the lack of air conditioning would be a bigger issue than the lack of a garage.

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  • Taylor L.
    Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
    4y

    Look at nearby rentals in a similar rent range. How many of them have garages?

    Generally speaking garages aren't all that common in rental real estate. You didn't say specifically where in the midwest you are, but in many areas the lack of air conditioning would be a bigger issue than the lack of a garage.

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  • Zach Taylor
    Investor · Southeast Wisconsin · Member since 2019 · 28 posts · 16 votes
    4y

    @Derrek J Hooyman I agree with @Taylor L. in that the lack of a garage is hardly an issue. In fact, I have some properties where the duplex does have a garage and I rent it out to someone else who doesn't live there for storage. Unless the garage is super common in your market, and hinders you from getting a quality tenant (which I doubt), I wouldn't consider it at all really. 

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  • Derrek J Hooyman
    OP
    Member since 2022 · 25 posts · 11 votes
    4y
    Quote from @Zach Taylor:

    @Derrek J Hooyman I agree with @Taylor L. in that the lack of a garage is hardly an issue. In fact, I have some properties where the duplex does have a garage and I rent it out to someone else who doesn't live there for storage. Unless the garage is super common in your market, and hinders you from getting a quality tenant (which I doubt), I wouldn't consider it at all really. 


     I decided to not buy it or put an offer due to many other factors.  Thanks though.  

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  • Matthew MorrowBusiness Member
    Investor · PA - NY - NJ · Member since 2019 · 458 posts · 168 votes
    4y

    @Derrek J Hooyman, youll find more. Garages are fantastic options that in our market hold a descent value for renters. Especially in cities. However we dont se any direct correlation between rents with or without garage space.

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