Value add in Milwaukee

[Michael Braatz]

Hello all,

My partners and I have recently had our first accepted offer.  The property is north of Wauwatosa near Burleigh.  It is 3 bed 1.5 bath. (buy and hold)

The half bath is on the second floor along with the master bed.  It could easily be expanded into a full bath at the expense of part of a walk in closet.

The basement also has a large finished area that could be another bedroom with the addition of an egress window(concrete block walls).  

For those who have experience in this area, what type of return could I expect both on rent and resale with these additions?(We would convert the bath ourselves and get the window done professionally) 

Thanks,

Mike