House Hack Analysis

[Sean Ade]

Hey BP

When looking at doing a househack on a Duplex- how do you typically apply the 2% rule and the 50% rule? Is there another rule of thumb I should look at instead? 

For example on a house I'm looking at

Cost- $310,000- 4BR, 2Bath Duplex

Mortgage (based on RedFins calculator)-  $2,008 / month, which includes taxes and insurance. 

Average Rent- $1,500 / month

If I were to rent this to two people my income would be $3000 but since I'd be living in the other half, I would contribute roughly $500 / month (I am currently renting at $1,500 / month in Portland so I see this as gaining $1,000 / month on my end)

But since I'm living it the property the numbers I'm seeing based off the general rules of thumb don't make sense.

How should I adjust my analysis to take into account that I'm living there?