How would you remodel this for most use of space?

Question

I am looking to rehab a 2 bed 1 bath house and Turn it into a 3 bed 1 bath house and rent the rooms out individually to college students (located behind a college campus). The house was built really oddly with minimal space for a living area. Here are pictures and my thoughts remodeling using a maximum $15k budget.

I want to remove the large stairs and put in a spiraling staircase to give the area more usable space. I will also redo the whole kitchen and remove the attached island for a floating island with bar stools that hid underneath. I will then replace the swinging door to the fiat bedroom with a sliding door. This should open up space to create a cozy living area.

Upstairs I'm thinking about turning the open living area into a 3rd bedroom for maximum cash flow.

In the end, I should be receiving $1500 in rental income from a home purchased for $70k with a 10% down payment and cash flow $600.

Rob B. · Answer

Hi Jhonatan, for starters, congratulations on getting the property and the price that you got for it sounds like it was a steal. I want to say that these images above show a property that isn't necessarily going to need a ton of work (not in terrible condition by any means, so congrats on that!). I'm not a huge fan of pastel color interiors; a fresh paint job and some hardwood floors (or vinyl wood flooring) may change your perspective on the entire place (crazy what a few changes like that can really do for the look and feel of a property); again, seems like it is in great condition. That said, with everything that you want to do for the home (ie. demo-ing the current stairs to put in a spiral staircase, and then turning the upstairs common space into another bedroom - assuming you'd add some drywall, and need to paint), I'm not sure that this is a project that can be kept under 15k -- but it all comes down to what you want to do. I don't know all of the contractor details, and ultimately it is your decision to make (go with what fits your bottom-line, as far as financial goals of this property), but an important thing you won't want to forget is the inspection; removing stairs and putting in a new spiral staircase, you'll probably want to have the place inspected and there may be some additional cost there. Again, not saying you need to redo flooring upstairs but personally I think by doing that (removing the carpet), and then adding that drywall, and keeping the current staircase you can definitely keep your costs low and still have a place that will look great! Excited to see what route you decide to take with this one. @Jhonatan Ramirez

Igor Messano · Answer

Keep in mind that spiral staircases are very inconvenient. If the bedrooms are all on the 3rd floor, likely your tenants will not be able to bring almost any furniture upstairs. Have you ever tried to bring a dresser, bed frame, couch, or anything bigger than a small nightstand up a spiral staircase?

I've lived in a property with one for the loft and everything had to be brought up through the open loft "windows" as nothing could fit up the stairs.

John Teachout · Answer

I also vote to leave the stairs as is. Spiral staircases are neat in lighthouses but pretty impractical in most cases. As mentioned by a previous poster, think about how you're going to get a box spring or mattress up them?

As far as the paint colors, I would put that blue in a bedroom but wouldn't paint main living areas that color. That said, if the paint is in good condition I wouldn't change it. Doubt students will care. Some will love the color and some may not like it but it won't affect being able to fill the unit.

If you skip all the modification, would it cash flow as a two bedroom with more "space" per unit and perhaps a higher per room rent? Three students with one bath could be a challenge. We have a 3/1 we rent to 3 flight students in FL but they all have different schedules and come/go various times of the day.

David Burkholder · Answer

Check your local building code to see if spiral stairs are allowed egress stairs.

In the area you are making into a bedroom. the window will need to be large enough to allow a fireman with an airpack to enter in.     Typically the code requires 5.7 s.f.   which is a 36x62 window.   Once again check the code for your specific location.        You will also need to wire innards smoke detector into that new room.

On the door downstairs,  look at doing a sliding barn door that mounts on the outside of the wall.  They are alot easier to do than tearing the wall open and installing a pocket door.  (I personally hate pocket doors and avoid them like the plague.  add drunk college student to the mix and ....)

Sharon Rosendahl · Answer

I would leave the stairs but add the bedroom. I would paint only because I don't like blue walls. College students are not likely to be overly picky unless they are very rich or are older graduate/phd students. I'm thinking BS/BA level, make sure everything works, is sturdy and is clean. My niece lived in a house rented by the room. She had to sign a one year lease even though she went home for part of the summer. Parents had to co-sign with clear understanding that they were responsible for damage.

Jhonatan Ramirez · Answer

Maybe removing the stairs would be too much, especially for a college rental. Thank you for your input I'll upload any updates. @Rob B.

How would you remodel this for most use of space?

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