Rent per room/house hack

5 Replies

I think a 3/2 but it depends on your market and target audience. It's hard to get four people to share a single bathroom.

You can do up a simple excel to calculate this to see where the break even is. Assuming the rooms are the same size, lets say the 4/1 rents out at $450/r, the 3/2 has to rent out at $600 to make the same money. In Toronto right now, you can get $450 easily for a room. If 1 room doesn't rent, you are at 75% occupancy with the 4/1  and 66.6% with the 3/2, and the 4/1 makes you $150/m more. You also need to consider who your clients are and if you want to deal with 3 tenants or 4. Also, make sure the neighbors are not going to be an issue with that much traffic. Good luck.

@Mohamed Mahmoud The amount of hassle and potential conflict involved in 4 strangers sharing a bathroom would make the 3/2 the better option in my opinion. 

I have a friend who house hacked a 3/1 and even three people (who knew each other) had issues sharing 1 bathroom. 

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here