Advice to help calculate investment opportunity

[Miles Thompson]

Hello,

I have a house that I split into a duplex, each side bringing in about $1500 each.

This has been a great cash-flowing setup as the house was bought for $362k and we've had it for about 6 years.

There are some foundation repairs to be done and I've had a local contractor that I trust quote me to fix this but also quote to build a laneway house to make a 3rd rental on the property. This has been approved by the council etc, and I now have a class C quote of around $300k for the new build, including 10k for the foundation work.

I estimate I will be able to rent this two bedroom standalone for around $1800-$2000 per month.

I need to write a business case to present to the bank to get financing and so I need to figure out ROI etc.

This is in a very desirable town with 0% vacancy.

Any advice on how to get the refinance and what to include in my proposal to the bank?

Thanks in adance.