A couple years ago, my wife and I renovated a guest house on our property, and are now earning about $900/mo in rent, which gives us an extra $9,000 per year in pre-tax income. We are in the early stages of planning a move. Our regular house -- assigning zero value to the guest house -- would probably sell for $625,000. How much extra should we add to the asking price of the house to take into account the rental income from our guest house?How much is my guest house worth?
I would say $700k-725k for both. If the guest house is at least 3br/1.5 bath, I may even suggest as high as $175k additional if it is in a very pricey neighborhood.
Good luck with it!How much is my guest house worth?
if it is a legal unit, then i would go with the rental amount per year multiple by say 7 to 10 depending on your area
its easy look up to google check your area code and find which house suits you.
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