One bedroom house

[Chris Sukala]

Well, Had a house come up in the area we like. It was on MLS as a one bedroom home. It is settling a estate. We said Nah in this neighborhood, maybe they took down a wall or 2 and may it more accessible for the senior that lived there. It is in a great neighborhood, the house is dated however in very good shape. It is an all brick ranch, beautiful fireplace, perfect groomed yard, totally taking care of.

It is a one bedroom house, very shocked, no changing walls or anything. It seems to be built in the 60s-70s. They layout consist of kitchen dinning room living room big bathroom with only a shower and one bedroom with walking closet. oh and a half of basement rest is a crawl space, which is all cemented and clean.

The way the layout is you could not make the dining room a second bedroom, would have to add a hallway, I think it would chop up the house. Thinking maybe basement but then no storage.

We are torn the house is beautiful but one bedroom not sure on renting and of any exit strategy. Wife was thinking maybe sink some money into it update flooring, kitchen with granite, evening possible furnish for either executive suite or hospital residents. Watch or walk away.

any input would be great. 

[Andrew Syrios]

We have a few one bedroom houses, they make for decent rentals here (in KC) but usually for either elderly folks who don't need much space or someone who has a pet (usually a dog) and wants to rent an apartment but gets turned down because they don't accept pets. So if you do buy it, I would accept pets (with a pet deposit and pet rent of course). The big thing is that they aren't that liquid, so exiting is tough. If it will cash flow and has really good equity and you're looking for a rental, I don't think there's any reason not to consider it. But if you don't want to hold it that long, I would probably pass.