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How can I get a value estimation of the apartment in the basement of my home?

  • April 23 2010 - Woodlawn
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Answers (4)

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Sorry, I forgot to include that utilities are included in the rental payment.  I need this information for my university.  I'm also a full-time college student and my financial aid office advised that since this apt is listed on my schedule E, they need to know the value of my "rental property".

Currently, the space is not rented and has not been for several months, though I may have found a tenant that is "very interested".
  • April 26 2010
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Usually when this question is being asked the person asking already has a price choosen. There is always a high price and then a low acceptable price.  What it is worth;  is what the market and consumer is willing to pay!  What is the supply & demand in the area. I personally have the same size units rented for more and then less; depending on the season and the reason...  Also, someone living on your property is different than a normal rental.  I would hand pick the person and then be concerned about the price. How is water, electric and sewer being paid?Alot of questions to be considered. Good luck to you!
  • April 26 2010
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Ok, lets go with rental value.  What is the rental value of my basement studio apartment that is 587 square feet, furnished with a full size bed, sleeper futon, arm chair, full size fridge, garbage disposal, compact microwave, 30" electric range with a hood, combo unit: heater, a/c, dehumidifier; and shared laundry.  The apt. has a private rear entrance, ceramic tiled floor throughout, 5'x8' area rug, sleeping area separated by curtains, the bathroom has a built-in vanity and mearsures 7'x13', has a shower and no tub.  Off-street parking in the rear is available.
  • April 26 2010
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Your question doesn't provide sufficient info to provide an answer.  Due you want to know replacement value, rental value, value added to your property by the basement,improvement to the basement value/cost? All this depends on the size, amenities  and type of basement etc.



  • April 24 2010
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