So from a refi or resale standpoint, you’re likely looking at a 2/2.That said, finished basement space can still add functional value — especially for rental income — but I’d base your offer and ARV on it being a 2/2 to stay conservative.

The simple thought experiment here is that if I were to drop $100,000 cash into a safe at an investment property, that investment property will do nothing with it, and the money will just sit there and provide no value to anyone or anything.There are "asset-based loans" that focus primarily on the asset's ability to pay on the debt BUT ther is ALWAYS going to be SOME sort of insight into the human borrower as they are the one that is going to make the money do the things that make the asset function properly. 

Time on Market (Days on Market - DOM)Staged Homes Sell Faster:According to the Real Estate Staging Association (RESA), staged homes spend 73% less time on the market compared to non-staged homes.thezebra.comblog.remax.caRESA data from a study of 1,080 homes showed that unstaged homes averaged 184 days on the market, while homes staged after listing sold in 41 days, and homes staged before listing sold in 23 days, a 90% reduction in DOM for pre-staged homes.robinrealtygroup.comNAR reports staged homes spend 33% to 50% less time on the market than non-staged homes.forbes.comA 2021 survey by First Impression Home Staging indicated staged homes sell 88% faster, with 90% of staged homes selling within 2 weeks.firstimpressionhomestaging.comNAR’s 2023 Profile of Home Staging noted that 27% of sellers’ agents reported staged homes spent less time on the market.bankrate.comNon-Staged Homes:Non-staged homes, particularly vacant ones, can linger significantly longer, with RESA reporting an average of 184 days for unstaged homes before staging.robinrealtygroup.comNon-staged homes may face prolonged listing periods due to buyers’ difficulty visualizing the space, leading to extended decision-making.kmmrealty.com2.

don't forget to use the search function to find threads that might already have the answers you are looking for.

Keep it clean, safe, and functional.

My guess is the tenant is so attached to their stuff and the apartment they cannot visualize leaving.  

Personally, I think adding a bit more visual interest, like artwork, curtains, a bold accent wall, or even a peel-and-stick mural—could really elevate the feel and make the photos pop for guests scrolling through listings.The backyard looks like a nice open space, but it might benefit from a few fun touches.

Visuals help a lot.✅ Comparable Sales (Comps) – At least 3 similar recently sold properties nearby to support your ARV.✅ Experience & Team – Briefly describe your background and who’s on your team (contractor, agent, mentor, etc.).

@Jay Hinrichsyep - 'cash flow' is a function of your entire portfolio, not the $114 you randomly net on top of one of your rentals in month 6 of year 3.   

Upgrading to a modern circuit breaker panel not only improves safety and functionality but can also increase property value and make inspections or insurance easier.