Updated over 1 year ago on . Most recent reply
[Calc Review] Help me analyze this deal for a househack
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Hello everyone!
I am evaluating this property as a potential house hack. The home has a basement, which, with some work, can be a 2 bedroom one bathroom unit. It will need a kitchen/kitchenette, and the current entrance is through the garage. The rent for the 2/1 is what I used for the calculator. That means the -ve cash flow will be my housing costs.
Caveats:
It was built in 1977. The inspection revealed moisture issues in the basement, a fastener issue on the deck, and reverse polarity of some of the outlets.
We are pending lead, mold, and chimney inspections.
The HVAC, furnace, and water heater are functional but "beyond their lifespan."
Due diligence ends on Tuesday, and the seller has indicated no negotiation or repairs will be made.
I have a walkthrough with my contractor on Sunday, but I'm trying to determine whether what I know is enough to decide whether to purchase or withdraw from the deal.