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Updated over 16 years ago,

User Stats

6
Posts
0
Votes
John Stark
  • Real Estate Investor
  • Greensboro, NC
0
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6
Posts

Old, 1 bathroom home with 2 apt.

John Stark
  • Real Estate Investor
  • Greensboro, NC
Posted

Hello everyone!
Trying to do my first deal in the near future.

I am looking at an old home built in the 1940s which has 2 apartments in the back above the garage. The owner was an elderly woman who died recently. The house needs some TLC.. needs all new floors, ceiling work (patches, lines, etc.) and new paint all over.

1 apartment in back is currently rented at $350, which is a bit low, but the renter used to do yard work for the lady which gave him a discount.

My main concern is how well will a 3 bedroom, 1 full bath home rent? I'd like to rent the 2nd apartment in back AND the home. I think with the market it would be pretty easy to find a renter, but would 1 bathroom be a deal killer? I have thought about adding another bath if needed.

Thank you!

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