Annika🇺🇸🇺🇸🇺🇸

Before and after: One bedroom unit, heat included. Previous rent: $975 New rent: $1,300 Renovation cost and breakdown: Demo: $182.20 Cabinets, Vanity, Tile, Toilet, electrical, Countertop, misc: $2,997.40 Stainless Steel Stove & Fridge: $1,144.70 Wall, Ceiling, Trim Paint (plus leftover 5-gal): $656.53 Vinyl Flooring Kitchen: $127 Labor for Tile, Cabinets, Countertop & misc trim: $1,322.66 Refinish Hardwood Floors: $1,702.08 Labor for painting, drywall patches: $950 Misc labor for plumbing fixtures & electrical: $450 TOTAL: $9,532.57 Difference in before & after rent annually: $3,900 ROR (Return on renovation): 40.9% A little over 2 years to make the investment back. $3,900 increase in rent divided by an 8% cap is $48,750 in added property value. I’ll spend $9,500 for $48,750 of increase in value any day of the week! *Before everyone starts shitting on the kitchen… it was challenging because there is hot water baseboards everywhere and 3 doors going into the kitchen from the living room, bedroom and bathroom. There are more cabinets, countertops and the fridge on the opposite side of what you see. May add some over sink and stove. Super awkward placement.