changing a single family home into a duplex
Hi,
I am a new real estate investor looking at a purchasing a single family home as rental property. I have gotten comps for SFH rental units in my area and I feel like I have a handle on the numbers for this scenario. After looking at the property, I believe it could be easily converted to a duplex. From the reading I have done, this is usually touted as a good thing for a rental property. I am not sure how to estimate how this would change the potential rental income that would result from making this a duplex. Or more generally, is it generally a good idea if readily feasible to convert to a duplex and how do I adjust the numbers to see if the deal makes sense. Thanks for any advice.
Steve
Most Popular Reply
Make sure that it is ok from a zoning/permit standpoint in your city to have a duplex in your location. Some areas/neighborhoods are zoned only for SFRs, and if you should convert it to a duplex, you may find that you have issues with the city.