House #40: Ready for Rent

November 17, 2012 · 6 comments

The Power House is rehabbed — which was basically replacing the hot water heater, putting in a stove, carpet cleaning, house cleaning, getting pest control, interior paint and some minor exterior repairs — and we’re now looking for a renter.

Here are some pictures we used in the rental listing:


Once we get it rented, I’ll detail all the costs/expenses, predicted income and all the rental analysis numbers.

6 responses to “House #40: Ready for Rent”

  1. Sophia says:

    What kind of pest control service did u get? Did u sign up for quarterly service? How much does it cost in ur area?

    I have got one property with rodent issues, based on the mouse droppings on both floors. Local companies want anywhere from 140-180 for initial treatment plus quarterly service of 45-85 each time.

  2. J Scott says:

    Hi Sophia,

    It’s quarterly service, and the total annual bill is about $300. This is to control bugs, ants, roaches, etc.

  3. Craig Kucera says:

    The pictures look great! How are you determining your rent and return #’s?

  4. J Scott says:

    Craig –

    Rent numbers were easy to determine on this one — there are several properties in this subdivision that have been listed on the MLS for rent between $850-950 recently (most of them are 2 bedroom houses, not three bedrooms like ours), and have rented relatively quickly. The ROI is based on the assumption that expenses, vacancy and capital costs will amount to about 50% of gross rent, which is pretty typical long-term.

  5. Mike B says:

    Could you send me your contact information? I would love to talk being a soon to be graduate who would love to get into historical preservation and rehab.

  6. J Scott says:

    Hey Mike,

    You can start by emailing to feedback @ (remove the spaces). That will come to my main email…

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