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Updated over 10 years ago,
C Neighborhood: What rehab additions will increase $Rent/mo?
We are doing our first C Neighborhood rental and are estimating ~$650/mo for a 2bd/1ba/1300sq.
I was told if I put appliances into the house then that generally will get us a bit more in rent/mo. Understandable, but I also hear people frequently steal these appliances if they are evicted or leave.
Secondly, I am considering putting wood vinyl planks throughout the living space which would cost an extra $1200 to do.
We are a little below our budget for the rehab and was wondering if this could bring in an extra $50/mo in rent?
Any other suggestions would be helpful!
My theoretical formula for selling the houses turnkey would be: Rent Rate / 0.0125 = Sell Price (Conservatively)
So an extra $50/mo would be an additional $4k in sell price.