Hi Nir, I love century homes and they really make for great rentals (duplex/triplex) because they can be spacious with 3,4 or even five room main floor lay outs. These houses are still standing solid and most likely will be after cheaply glued together sub divisions start to crumble.
The basements in these homes, although amazing in structure because they were constructed of one foot deep stone, are seldom water proofed, or waterproofed to the extent that you can have a nice apartment.
Yeah you can install weeping tile inside or around the parameter, but you still have a sub terrain dwelling, which, hmm, only a certain type of tenant is willing to pay for.
And of course there are exceptions, although some days I do feel I`ve seen every house in Hamilton.
All i`m saying is that effort, vacancy, loss of income, clean up and re renting is worth $$ and there is easier ways to go about it.
I like to sell (and buy for myself) without the basement unit, attic units can be nice, if access is good and not built for mountain goats, but i also like to show clients homes built in the 40` and newer, they can have great basement suites with good height, decent windows etc.
bianca