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Updated over 4 years ago,

User Stats

7
Posts
4
Votes
Suzanna Smith
  • Rental Property Investor
  • West Seattle
4
Votes |
7
Posts

House hack and rental numbers

Suzanna Smith
  • Rental Property Investor
  • West Seattle
Posted

I'm looking for some feedback on my calculations, and for some insight from those that are working in the Seattle (or like) market right now. 

We have a luxury town home we are currently living in that we would like to convert to a rental, and are under contract for a SFH with a lovely studio apartment that we plan to make a 1 bedroom upon move in. We currently pay $3400 plus $250 for HOA (which includes W/S/G for the town home) and our projected payment for the new house hack home is just over $3900.

We listed the town home for $3800, but are only getting a few bites. We think we need to reduce it. We aren't opposed to subsidizing the rent if the long term makes sense. We expect/hope we can rent the apartment in the new house for atleast $1200 and likely $1500. 

Our current numbers have us up somewhere near $1,000 saved a month, plus equity. My question is, how low is reasonable to still make this a good deal and get the town home rented ASAP? 

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