Old Topic I know...Garage Converted into Living Space

[William Matory]

Hello BP Fam,

Seeking your advice on a House Hack I am about to undertake...

Located in Richlands, NC, just outside Camp Lejeune, NC, Home is a 3/2 SFH the prior owner 1) turned a BR into a dining room and 2) turned the 1-car garage into a living space.

As is the home is a 1400 sq ft 2BR/2BA unit no garage.

For now it will be just me and my dog...Looking to get it rented within a year.

Purchase Price: $97,000

ARV: $160,000.

Estimated rent as a 2/2 is $1025...as a 3/2 is $1150.

Given the above, I’m fairly certain I need to turn the dining room back into a bedroom but I’m not sure I need to convert the garage back into a garage.

I would convert it back into a garage because I need storage but I'm worried that will negatively affect my ARV and my rental rate.

What about outdoor storage/sheds?

Any thoughts are appreciated.