One bedroom home... Would you?

7 Replies

Hello everyone,

I came across a small home in my local mls listing and at first I though i misread the description but I called to confirm and the listing is a ONE bedroom home.  In all honesty, I've skipped the listing for some time now but I'm just wondering has anyone ever owned such a small home as a rental? Opinions? Ideas?

The asking price is 80k and I figure it would need some tlc and as for rent, a one bed apartment rents for around 700-850 in that locale.

Talk to me.

The numbers don't seem to work.  Maybe if if you could buy it for less it might work.  Anyway you could convert it into a 2 bedroom?  You would have to add your renovations to the price?  It's a stretch but maybe they are very negotiable as not many people would be interested

@Barbara G.

Right, many factors to consider... I'm not asking if the numbers work as much as I want to know if someone has owned or owns a One bedroom house as a rental.

Thanks for your input. I appreciate it

I own a small cottage that is a big studio or a small house.  It was originally a shed.  We added a LR to it that is also the sleeping room - LR shades up lots of windows; br shades down very cozy.  Separate small dr space, full kitchen, jacuzzie and full shower bath.  It took a while but it has been rented to the same person for 4 years now.  It is on the water with a pier and small community beach - that helps.  In a neighborhood but very privately landscaped - you never have to see your neighbors.  Under 560 sq ft.  We bought it for a getaway for ourselves (and fixed it up accordingly) so we've never made a lot on it, but I pulled equity out of it after 15 years, bought two more houses and the rent pays for it plus a bit over.  Great investment?  You have to decide for yourself.  I'm not sorry we did it.  And there's this whole tiny house movement - there are people out there who love it - you just have to find them.

p.s.  I'm looking at another one right now.  It is a 1/1 they call a 2/1 because they call the mudroom/porch a br - it does have a closet.  It is also in a private beach community and walking distance to that beach.  It is ready to rent save needing a new toilet and carpet or tile in the "2nd" bedroom.

Originally posted by @Tammy Vitale :

p.s.  I'm looking at another one right now.  It is a 1/1 they call a 2/1 because they call the mudroom/porch a br - it does have a closet.  It is also in a private beach community and walking distance to that beach.  It is ready to rent save needing a new toilet and carpet or tile in the "2nd" bedroom.

 Hi Tammy

Well I would call it a 2 Bedroom also.  The most important part is the cost and the potential rental and whether it's partly for your own use?  The most important part is that it's on the beach and that makes it viable

I owned the smallest "apartment" in the world.  It was a tiny studio, with a minature kitchen in a small alcove.  It had one window in the studio room, and one window in the bathroom.  When I bought it I "renovated" it. 

I threw the stove out and replaced it with a microwave and a undercounter 1/2 refrigerator and hoped whom ever rented it would eat out.  My studio was in Greenwich Village in New York and I never had any difficulty renting it, but it was the location.  when I was ready to sell it, the young man who lived in it sold his part of a family property and bought it from me.

So there you go.

I have a 1 bedroom condo that is a rental. Cash flow works well.

I would focus on the numbers. If the investment return matches your objectives, than I would absolutely consider it.

@Jamie Montpellier , I don't currently have a 1br/1ba, but I would most definitely consider buying one if the numbers worked.  There are plenty of single people who would love to save money by renting a 1BR instead of a 2BR.  I don't think I'd have any trouble renting it in my area.

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