Hi Investors it`s me again.
My partner and I came across a potentially great revenue generating property. It is a supposedly R2 zoned property. It looks like a left right duplex but it`s been converted into a rooming house sort of thing with 16 rooms.
My question is, assuming the investor lives in one of the suites and everything is legal. Can I expect the same kind of appreciate rate as a normal house would go through the next few years?
why I ask is because the price is currently base on the revenue, and is much higher than a normal residential property so I figured in 5 years, the price may not go though the same kind of appreciation as other properties. It might instead be based on how much the rent has gone up? I want to know this because it`s one of the factors I put into my analysis sheet.
Thanks very much again in advance!
Nepoez
My partner and I came across a potentially great revenue generating property. It is a supposedly R2 zoned property. It looks like a left right duplex but it`s been converted into a rooming house sort of thing with 16 rooms.
My question is, assuming the investor lives in one of the suites and everything is legal. Can I expect the same kind of appreciate rate as a normal house would go through the next few years?
why I ask is because the price is currently base on the revenue, and is much higher than a normal residential property so I figured in 5 years, the price may not go though the same kind of appreciation as other properties. It might instead be based on how much the rent has gone up? I want to know this because it`s one of the factors I put into my analysis sheet.
Thanks very much again in advance!
Nepoez