All Forum Posts by: Luis Garcia

Quote from @Chris Seveney:

@Luis Garcia

Check comps - and also based on current layout how confident are you in the number?

Also by doing what you want will that open up more potential renters, even if price doesn’t go up could it reduce vacancy time / rates?

How confident am I in the cost number based on plumbing and room layout?
fairly confident. I did the same thing to the house my parents wanted to move into. I have the entire floor removed down to the joists and the walls ripped off to install wall rough ins for the original master bathroom’s sink ( and removing damaged wall). I crawled in the crawl space to visualize plumbing design.

How confident in the rent? High, I had a lot of interest for a three bedroom two bathroom 1275 sq Ft  home on 0.6 acres for $2300 a month ( where I live and plan to rent out once I move). This is a 5 bed 2 bath 1975 square foot home in the same town on 0.45 acres. Looking on apartments.com today reinforced my rent estimate, the rent on average is $700 per room at townhomes (packed buildings with no land or privacy).

My largest concern is that it’ll take me a couple weeks to do which is two weeks rent I won’t be able to receive.

First post. I have a 5 bedroom (100-200 square feet each) and a master bathroom (110 sq ft) inside the master bedroom with a 42 sq ft bathroom in the house. Planning on renting it out for $3000 a month ( well insulated so the electric bill is $150 a month on average in the north east coast. Water and sewage is $180 every three months planning).

I already have an extra standup 38" by 38" corner shower with glass doors I bought for $85. Plumbing is setup so I would only need to spend about $300 on plumbing and fixtures ( $120 for the 3 inch pvc and $50 for the rest of the pvc plus a shower handle and I have a spare shower head) . $100 for a toilet, and I could find a vanity for $150 easily. The wall would be Another $200 in supplies and I have spare doors and trim. I already have electrical cable and can get that installed for $200. So overall looking at $950 with me doing most of the work.

Would adding the extra bathroom for 4 bedrooms sharing the one bathroom increase comfort and interest to justify an increase in potential rent of $100-$200?