New multifamily investment - Heating and Cooling issues
I recently made my first real estate purchase of a triplex. One unit is occupied and I am renovating the other two. In my smallest unit (650sf 2 bed 1 bath), there has been a through the wall heat pump. It looks to be 20+ years old so I need to either replace it or go with a mini-split unit. Due to space constraints, I can't put in a central unit with duct work. My property manager says that going with a mini-split would increase the rent by $50 (750 vs. $700) as well as cut down on vacancy due to the improved efficiency. The cost to put in a mini-split is in the neighborhood of $2800 vs. a through the wall heat pump at $900.
Question: Does anyone have experience with this scenario? If so, based on your experience, will I make a good ROI if I go with the mini-split?