Forced Appreciation from Repairs?

[Jon Haney]

Hi all, 

Recently my SF rental property had some pipes freeze and burst, causing a considerable amount of water damage to the house. After moving the tenant out, the property manager repaired the damage, and in the process also replaced the furnace and pipes and put up new drywall in damaged areas. In total, the cost for all repairs came to $11,000. 

I'm still quite new to real estate, but I'm wondering whether repairs like this cause the value of the home to increase? The house appraised at $69,000 last year. I ask because I'm interested in doing a cash-out refi in the future.

Thanks so much, Jon