Turning a bedroom into a separate studio unit

[Ryan Duphorn]

I have a 5 bedroom / 2 bathroom single family brick rancher. It was originally a 4bd 1 ba home (1 room being an office room but classifies as a bedroom) but the original owner added an addition off the back of the house. The addition includes a large bedroom, bathroom, and walk in closet. This addition just includes double doors that lead to the original house. What are your thoughts on blocking off the double doors and using it as a separate, private unit. The addition has its own driveway that leads to the back of the house. The addition has egress windows also. I would need to add plumbing for the kitchenette sink and electrical for appliances but I'm not sure if my breaker has enough room for another 240v for the stove. Currently as a 5 bd 2 ba it rents for $2500 but I'm finding it hard to increase rent just due to the fact that there's not many people out there looking for a 5/2 to rent or else they would just buy. My current tenant now only occupies 4 of the bedrooms.

Numbers

Current rent - $2500

If I split into 2 units, unit 1 (4 bd 1 ba) would rent for $1800-1900 and unit 2 (studio 1 bd 1 ba) would rent for $1100-1200. This studio transformation would bring me about an extra $500-600. I'm not sure the cost for the kitchenette install with rough in work but I have great relationships with my subs and historically keep my reno costs down.