How much does Vinyl siding improve ARV?

[Troy M.]

Hello!

Does Vinyl siding improve my ARV? Duh! I know the answer is yes but is it worth it?

I am currently evaluating a 3-unit building worth approx 80-90k with a pre-rehab cap rate of 30% with an older shingle siding. The color is weak and the exterior doesn't look terrible but it doesn't look great(see below picture). I am planning on spending between 20-35k on the interior to update the inside.

With cost estimates coming in between $8-12K, has anyone seen significant upside value in installing the new siding for ARV?

Thanks for the help!

-Troy

New Investor