Is investing in a duplex unit that has oil heat on one side and forced air on the other side a good idea? Is oil heat too much of a hassle.
Anyone have any experiences with oil heat and their tenants?
My tenants hate it.
That is my fear @Dan MArriggi
just convert to natural gas, not a really big issue. Just build that into your offer price.
thats a great idea. Do you know how much this is price wise?
The big problem comes if there are no natural gas lines near by. The property I did this to, the utility ran the line to the house and installed the meter for free. The furnace switch out was pretty easy, just a little extra piping to get he gas line from the meter outside to the furnace inside in the basement. About $2,500 all said and done, in 2008 but should be roughly the same today.
Thanks for the info sounds pretty feasible. I've already looked into contacting the local utility company in the city I'm looking to purchase.
Tenants hate oil heat. Often times in the first contact the prospect asks if there is oil heat, then they decline to even look at the place.
We've done about a dozen conversions to gas heat ranging from about $3,000 to $6,500, some included duct work, gas hot water heaters and central air.
you say "forced air" on the other side. Is this a heat pump (electric)? What kind of oil heat is it, a boiler, or forced air? If the other side is a heat pump, and the oil heat is forced air, as long as the heat pump side doens't have crazy bills, you could switch the oil side to a heat pump for $4-6K. Beware of an underground oil tank for the side you say has "forced air." Provide some more info and we can provide better solutions :)
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