I come to you all today for advice, pros and cons of this situation that I might not see myself. I've been shopping for a house hack thinking of using the bedroom model originally because the multi family model in Las Vegas isn't too appealing. I found this property last month that featured a main home (3bed/2bath) that's move in ready, also has two move in ready studios ready to be rented. I originally offered a slight low ball hoping I could use the comps to defend it but they took another offer and I was instantly regretting it. Property is very unique, before and after running into this I couldn't find anything like it on the MLS. My main dilemma is I don't want to get in over my head because of the two studios income potential. So here's some quick numbers for your understanding.

Property listed at 265k

Comps sitting at 220-230s with no studios

My mortgage would be at about 1400

Studio rents could be 600 each x 2 = 1200

I would also plan on renting out two of the rooms in the main house while I live in the master bedroom. Room rents could potentially be around 350-450 per room.

The house is about 30-40k above comps but I have no idea what the appraiser will think about the added value of the studios.

It sounds like a great deal but there is factors besides the comp situation. For example, location. It’s near the freeway so I appreciate that to cut down commute time but it’s also in a C-D class neighborhood. That mainly worries me when it comes to resell.

Also the home was built in the 50s, that’s old to Vegas standard

Just looking to see the pros n cons before my first purchase, any perspective or advice would be appreciated!!

0 Votes

3 Replies

Jump to Last Reply

House hack above comps. Does it still make sense?

Most Popular Reply