I have a problem, and that problem is a standing shower stall with the washer and dryer right next to it. I have to renovate the bathroom because it is in bad shape, but the standing shower is not in terrible condition. This is the only bathroom in the house, and the way the house is set up (fairly small) to fit a new shower and full-length tub in, I'd need to make a small addition to move the washer and dryer into. Is it worth the ROI to build a one room addition for $2k just to add the full length tub? House is a 3 Bd 1 Bth. Loan payments would not be an issue I'm just trying to figure out which would be the better move. Worried a family with young is gonna look at that standing shower and say, no thank you! Resulting in me having a difficult time getting the house rented. Any input is appreciated!
I dont know your market or your area, but if that was here by me, it would be an absolute yes, it is worth adding a full bath with tub and separate laundry. Since you are adding that already, if the layout was possible, I would even add a second bathroom since you have 3 bedrooms. That adds tremendous value to mat homes in most areas.
what is your target tenant and what does the market around you dictate? If the market around that house is section 8 then it may not be worth the money for a costly rehab. Your talking about a 3 bed with only 1 bath which is a limiting factor for renters that have the $ to make a choice. So if the market in your area is decent and other rentals around you are 3/2, then i would spend the $$ on perhaps having a 2nd bathroom added, or 1/2 bath.
@Will Barnard unfortunately the layout of the home does not allow for a second bathroom. My area has a lot of 3/1 and 3/1-1/2 baths, so it's not at any disadvantage necessarily. Thanks for your imput!
@Keith A. I am attempting to stay away from section 8 tenants if I can help it. Wanting this to be a passive income stream and section 8 tenants cause a lot of problems typically. So, having a full bathtub seems to be the way to go, especially since I don't have room for another bathroom. Thanks for the imput!