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Updated about 2 years ago on . Most recent reply

User Stats

411
Posts
397
Votes
Ben Einspahr
  • House Hacking Specialist
  • Denver, CO
397
Votes |
411
Posts

Denver MTR House Hack- Deal Analysis

Ben Einspahr
  • House Hacking Specialist
  • Denver, CO
Posted

As an active house hacker who enjoys helping others do the same, I find myself analyzing properties every day. 

Unfortunately, many of the deal analysis I have done in the past have already been sold.

Going back through my old analysis, I have 2 choices:

  1. 1. Let them sit on my computer and collect dust...
  2. 2. Share them with the BiggerPockets community for others to learn from!

I'll choose number 2!

Analysis Date: June 2023

About this house hack

  • -5 bed / 3 bath.
    • -Main level is 3 bed/ 2 bath
    • -Basement mother-in-law is 2 bed/ 1 bath
  • -$530,000 price point
  • -2,000+ sqft

Why I like it

  • -Separate entrance to the basement
  • -High bedroom and bath count
  • -Ability for 2 sets of washer and dryer
  • -Basement bedrooms already had egress windows
  • -Plenty of parking

Potential renovations

  • -Framing small wall to give guest on the main level privacy
  • -Exterior landscaping
  • -backyard privacy fence for guests

What my numbers look like AFTER moving out

A Few Photos 

Summary:

Numbers for this property are VERY tight with the higher interest rates. 

Might make more since as a life style house hack vs future rental house hack?

Benefit, you are getting 60% + return on your initial investment.

Deal Analysis Spreadsheet

If you would like a copy of the spreadsheet I used for this analysis or see some others I have done, reach out! 

I am happy to share.

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