Details, costs,  and questions below.Sales Price = $260,000Square Footage = 2100Nashville, TN market1) Would you pull the trigger on this investment? 

For best results, you may also want to control for factors like square footage, year of construction, garage size, location, the quality of interior and exterior finishes, the type of appliances included, and so on.

Curb appeal, the street, the square footage and condition have a big impact on rents. 

And what square footage are we talking about?

Gabe’s business model is to take tired Cape Cods, ranch homes, etc. and basically add a level to them to double the square footage.

I believe at minimum I can get the rents up to $1400 as similar units with similar sq footage in the area are renting $1300 -$1600 for 3 bed 1 bath and no garage.

The new UDO that went into effect on 1 Jun 2023 allows many residential areas in Charlotte to build ADUs up to 50% of the primary structures sq footage if detached, 40% if attached.

Same with enclosing a garage, having a pool, adding square footage, flooring, windows, and adding/removing bedrooms or bathrooms.  

I have had tenants where I couldn't wait for their term to expire so I could put a better tenant in place and raise the rent a little but there were also tenants that I wish I could have locked in for another 12 mts lease because they paid on time, didn't do any damage and were basically perfect.

As you would be a new landlord, this would be more square footage to take care of and more tenants to vet and manage. 3-4 unit properties also need to pass the "self-sufficiency test" from a lending perspective.