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General Landlording & Rental Properties

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Taylor Jennings
  • Indianapolis, IN
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354
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C Neighborhood: What rehab additions will increase $Rent/mo?

Taylor Jennings
  • Indianapolis, IN
Posted May 22 2014, 08:12

We are doing our first C Neighborhood rental and are estimating ~$650/mo for a 2bd/1ba/1300sq.

I was told if I put appliances into the house then that generally will get us a bit more in rent/mo. Understandable, but I also hear people frequently steal these appliances if they are evicted or leave.

Secondly, I am considering putting wood vinyl planks throughout the living space which would cost an extra $1200 to do.

We are a little below our budget for the rehab and was wondering if this could bring in an extra $50/mo in rent?

Any other suggestions would be helpful!

My theoretical formula for selling the houses turnkey would be: Rent Rate / 0.0125 = Sell Price (Conservatively)

So an extra $50/mo would be an additional $4k in sell price.

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