3 Bedroom 1 Bathroom Single Family Homes - Thoughts?

Question

Hey all,

Quick question for some seasoned investors out there - what are your thoughts on purchasing a buy-and-hold property that's a 3br/1ba? Is 2 bathrooms a necessity for places with 3br or more or do 3br/1ba rent just fine? If so, in your experience, are people staying in these properties for more than 1 year?

Any advice would be greatly appreciated!

Thanks,

Derek

Nathan Gesner · Answer

It depends on your market. 3/2 is always better but your market may be full of people that are OK with a 3/1.

Any property is a good investment if you get it for the right price.

John Bradley · Answer

Have you checked out rentometer.com in your area and seen the differences on rent vs the cost of adding the 2nd bathroom on? I'm looking to find a good cash on cash deal in the Phoenix market to do that personally. Anyone have prior experience with this kind of value add?

Bob Woelfel · Answer

@Derek R Sacks this is really a localized question.  Are most of the properties in this neighborhood 3/1's?  If so then you should be fine.  Those types of properties are great in KC for rentals because most sit on a basement and are easy to manage for rehab and maintenance.  Your area might be the same or it might be different.  Get familiar with your local housing stock and that should help you figure it out.  Good luck

Mark Gallagher · Answer

@Derek R Sacks

3/1 is great in our area, and attract longer term tenants for sure.

3 Bedroom 1 Bathroom Single Family Homes - Thoughts?

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