Need a Vision, help with rehab

[Matt Laird]

I got this 2/1 for a great deal, I intend to rehab & hold.. I cant figure out what to do with the exterior, I've thought windows siding, roof, landscaping. Another route would be to add a 2 car garage and master suite. 3/2 would be much more desirable in this area. Has anyone had any luck with an addition to a small house like this? I'll post a few pics.. Any suggestions are welcome..

FYI it has a income rental behind it "on a separate lot" that I also own, It needs rehabbing as well , it has 2 efficiency apt on the 2nd floor 1st is a 2 car garage w/ storm cellar future plans to add a 2 bed apt to 1st floor

1935 build

purchased for 60k

20-25k budget to dress up

40-60k budget for addition

interior is in descent shape..

rent estimate of $800+/- 2bed, 1200+/- 3 bed & garage

[Dave Savage]

I think I would put the $40-60k into a second property and get another $800/mo in rent instead of only $400 additional on this property.

Do some basic landscaping - removing the overgrown shrubs and trees, paint the outside, list it for rent and see if you get a good response. If not, then increase your budget, but I suspect the minimalist approach will get you rented up and on to the next property.