Very long long driveway at rental

[Bienes Raices]

The house I'm planning to make an offer on is set back from the others in the subdivision so the driveway is about 3 times as long as it would normally be.

It's in average condition, although there is an oak tree that seems to be pushing it up a bit from beneath at one point (I don't know which house owns the oak tree, and the house next door is a vacant REO).

Would maintaining this driveway be a high maintenance cost in the long run for a rental? The agent who showed me the house recommended just sealing the existing cracks, rather than resurfacing.

[Kyle Meyers]

If a driveway costs about $1000, and this one is 3 times as long, so we assume it would cost $3000. And is expected to last 15-20 years, we will use 15. You would have to budget an extra $200 per year for this cost because of the additional size of the driveway. And every other year seal-coating would cost about $250 instead of $100, so another $75/year beyond the norm. So, in all, an extra $275 per year conservatively. Certainly not a deal killer, but something to add into your calculations when deciding how much you can offer.

Of course, you may also be able to charge additional rents if the set back adds to the property. Depending on the market, tenants may be willing to pay more for the larger front yard and/or added privacy from the extra space between them and the street.

Sources:
http://www.paccrestinspections.com/life.html
http://www.fixr.com/costs/pave-driveway
http://www.costowl.com/home-improvement/landscaping-sealing-asphalt-driveway.html