Rental question for investment property in Reston, VA

[Scott Berman]

I am looking to buy my first real estate property in Reston VA (I work in Mclean) as a sort of house hacking opportunity. I am looking into 3 or 4 bedroom homes where I will live in one bedroom (probably the basement) and rent out the other rooms. I am able to qualify for a VHDA loan which will allow me to put very little money down, but unfortunately the monthly mortgage will probably be around $2700 for a $400k investment.

I've been browsing the rental comps for similar houses in the area and they seem to be around $2200 so if I rented out the entire house I wouldn't break even.  I was wondering if anyone knows if more or less money can be made by renting out individual rooms, either in general or in this area in particular.  I am currently renting a room in a large family-owned house in where the family is renting out like 5 bedrooms at ~$1000 per so I imagine more money can be made, but I'm having trouble finding any comps and was hoping someone could shed some light on this.  Thanks!

-Scott

[Russell Brazil]

Typically renting out by the room will get you more money. However you might also have to pay for the utilities if you do it that way depending on the agreement you have with your roommates.

Most of the time you use a loan with a low down payment it is going to be hard to break even on the rent.  However you will be living in the property in your situation, so you also have the use of the property instead of giving your rent away to somone else.