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Was thinking of buying a house in Atascadero that has a 1 bedroom attached unit that can be used as a rental. What kind of price can I expect to get for this? Place has a living room, 1 bedroom and a full bath, and kitchen, all done really nicely. Is it hard to find tenants here?
Look on Craigslist. Do a search for 1 bedroom units located in a duplex. There will be photos to help you evaluate whether the units are comparable. You will get a bit more than an apartment rent and considerably less than a stand alone cottage, so compare rates with duplexes or mother-in-law units.
You can get more rent from undesirable tenants because nobody else will take them, so they must pay more to get a rundown place. However, since it sounds like you will be living next door, I suggest that you screen really tough and wait for the ideal tenant. I'm happy to get $25-$50 less than market to secure a top quality tenant who is going to pay the rent on time, be easy to work with, and take care of the property.
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