Evaluating the addition of a second bedroom in a high quality apartment.

[Deb Merrill]

Purchased a single family 2.5 story in a desireable historical district close to a downtown waterfront community.  It will be a conversion to a 2 family for a long term buy and hold. The demographic is professional couples, military couples, or students. Please advise on whether it would make sense to add an extension to the house to provide a second bdr to the first floor unit (700 sq ft extended to 900 sq ft) at cost of 25 to 30k. The upper apt. Will have a second bdr in the loft.