Converting one families to duplex in New Jersey
My town has a high supply of lots that are Zoned for two Families. Rental market is super tight currently and any duplexes that hit the market end up in a bidding war.
Single family properties are not selling all that well though.
Anyone have experience converting these single family homes into duplexes? I feel this could be a way to meet the required return on investment numbers for buy hold rentals at this time.
If new build is $150 + a square foot what are ballpark costs to convert from one to two family? I know this is an answer that will vary from house to house but any info is appreciated. Thanks