First Deal - Rehab questions - how much living space?

Question

Hey everyone, working on my first deal, a duplex in Connecticut and it needs some updating! Took only like 5 years to get my first deal after constant learning, searching, learning and searching, *yawn*. Now all of a sudden I got another single family in Deland, Florida, working on with a partner. Anyway this Connecticut duplex is of current concern, time to get to work!

Remodel Question:

How much rehab do I want to put into this home, C class neighborhood but great location near downtown and to nearby college. The top unit is a 2-1, approx. 1100 SF, commanding $1095 median rent for 2 BR, or $1300 for 3 BR (rentometer figures). I have a larger kitchen that could also be considered with a living space (Kitchen/dining area). The living room could have a door installed, install a closet and call it a bedroom, but this would in fact limit the total living space available. I understand this is a location dependent question and the payoff for another bedroom in this case may be incremental, but how much space does one actually need/desire?

1. Keep the living room or make it into an additional bedroom?

2. Thinking of opening up the bathroom, should I remove bathtub and install stand in showers? Who uses tubs these days other than pets and small kids.

3. Thoughts on what to do with these in your face kitchen counters and backsplash?

Please see attached photos and sketch for a better visual.

Thanks for your help!

Christopher Kolasa · Answer

Thank you @Hilary Stalder, love the perspective, I will have to take a dive deep into the market, but am open to the open concept! A small bar would connect the dots. Good thinking. Thanks!

Hilary Stalder · Answer

@Christopher Kolasa It looks like there is space next to the kitchen that could be a "family room". I think the other bedroom is a go if it means higher rent. I'm not sure about your neighborhood or who you're targeting for renters, but if its young professionals probably don't need a kitchen table! If there is a way to make a small bar in the kitchen you can use the space next to the kitchen as a "living room" and tout it as "open concept".

Dave Grimson · Answer

Not sure what town your in but in my experience i'd that Granite or quartz wouldnt be necessary given the rents in the 1100-1300 range - I love the Calcutta Marble Laminate counter top from Home Depot - people cant notice its laminate until they touch it!

I debated removing the bathtubs on my last duplex rehab but ended up keeping in both units - my thought process was that it wouldnt increase the rents to put in a stand up shower but it would limit your available tenants

Cassie Montalvo · Answer

Keep the living room (leave it as a 2-bedroom). You would severely limit your pool of potential renters by not having a living room.

Keep the bathtub - they are easier to maintain then walk-in shower floors.

I always put in (at least) granite countertops. Go to the local yard and grab a slab on clearance - honestly, I have found them for $300 (fabrication will be a bit more). You can get a much higher rent when your kitchen looks high end, plus they rent faster. I only do the granite lip backsplash (no tile, unless it’s a high end rental).

I’ll post a picture of a slab that cost $500 and $1100 to cut - this was enough for a kitchen and 2 bathrooms.

Same $500 slab in another kitchen:

Also, as you can see, for rentals, I’m a fan of darker colored cabinets.

Adam Mitchell · Answer

@Christopher Kolasa I like prefab quartz or granite for counter tops but sometimes you can get by with formica. I would not put custom granite or quartz in usually unless its a high end property.

Adam Mitchell · Answer

@Christopher Kolasa what are others doing in this Neighborhood? Remodel to the neighborhood and in your case related to rental properties.

I would leave the bathtub most likely. Remember renters will not treat your house like you would. You want the house safe #1, functional #2 and clean #3. I have a blog in my profile with remodeling tips you can check out.

Christopher Kolasa · Answer

@Cassie Montalvo excellent feedback, time to head to the yard. 2-bedroom seems to be the way.

Bathtub it is. Heading to the local yard then! Rehab pics looked good! I understand it's only backsplash and likely won't make or break a rehab but what about some of the stick on kind?

@Dave Grimson - it's in Middletown, near the downtown. If I can't find a discount for a granite slab, I may follow your lead on the Calcutta Marble, looks great! Mirroring Cassies opinion on the bath tubs and leaving them in. Thoughts on leaving the bright burgandy red countertops and backsplash (looks real outdated).

Christopher Kolasa · Answer

@Adam Mitchell others are not doing much. May be worth a few upgrades but mostly as is. How about kitchen counters?

Thanks for your input, SFC it is then - safe / functional / clean. Will check out your tips right now!

First Deal - Rehab questions - how much living space?

First Deal - Rehab questions - how much living space?

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