ROI on upgrades for rentals

[Dustin Beam]

So what numbers/returns do you use when updating your units? To me it's not as simple as regular ROI calcs because the upgraded don't last forever.

My apartments are a little tired and I'm hoping I can get an extra $100/mo. Not sure if I can get that much extra by fixing it up, but if I can I may have to spend 3-4k on each to do it. That would roughly be 33% ROI, but if a tenant moves out after a year or two, I would likely need to spend more money, thus extending my break even time.

Thoughts?