First rental property advice

[Keith Olson]

We are about to close on our first rental property. My questions is do I install central heat and air? The property has window units and I was wondering if we should invest in central heat and air right away. we plan on doing a small renovation of the house and refinancing in about a year. Will installing central heat and air help us to receive more in rent and recoup the money in the refinance. 

The house cost 80,000

have a 15 year mortgage at $585

rent will be 1100/month and cash flow 200 month (without central heat and air)

Thank you in advance for your feedback

[Dan M.]

The key to this I think is knowing the cost of the central air installation and also the market rents with central air in your area. Do you feel as though the central air is necessary? Would it give your property more value compared to those in your area?

Even if it won't boost the rents it could impact the selling price when and if you guys sell, plus add an amenity to a tenant to potentially reduce turnover long term. I assume the tenants are paying the utility costs for this unit?