Do new units nearby increase your property value and/or rent?

I've seen it Steele, but not everywhere and it always comes with a rate increase so if you have 75% at 6.5% then 80% will be 7.5% or so. 

If rents do not increase above $1900 that a loss if they do increase it seems it might be a low NOI.  

YoY is up 3.5%.Rentals - Availability by MonthThe number of homes for rent remained flat MoM.Rentals - Median Time to RentMedian time to rent continued to increase MoM but still at a very reasonable 22 days.

We significantly increased the property’s value by making strategic improvements.

Increased the value $400,000 - $500,000.

Giving up a guaranteed increase in value with them using their own capital to increase the square footage would seem like a no brainer, but how much are you losing if you remove the drive thru and can't put it back.I would talk to commercial brokers and other owners in your area to see the value of a drive thru.

However, the goal would be to increase the amount of units rented to close to 100%, maximizing income, then potentially outsource management duties - either by hiring a capable manager/maintenance person, or by getting a property management company involved. 

Increased the value $400,000 - $500,000.

I grew my list to over 500 buyers, which drastically increased competition for my deals and nearly doubled my assignment fees.