42503 Hwy 931, Gonzales, Louisiana

                   Hot listing in Gonzales, Louisiana - $400,000

    5 Bed / 4 Bath / 2 Homes / 1.74 Acres / House Hack Opportunity

                              Full listing at 42503 Hwy 931

Property Description

This beautifully updated home sits on 1.74 acres and includes a detached apartment! The main house has been thoughtfully renovated, featuring a spacious kitchen with a top-of-the-line DCS range, double oven, and flat-top griddle. Ample storage is available in the soft-close cabinets, and the island bar comfortably seats up to five. The white backsplash is accented by under-cabinet lighting, creating a bright, inviting atmosphere. The kitchen flows seamlessly into a large living room, ideal for entertaining. The laundry room offers a wash sink and extra cabinetry for added convenience. Throughout the home, you'll find CoreTec Luxury Vinyl Tile that is 100% waterproof and highly durable. In August 2022, fresh paint was applied to the interior, back patio, and carport. Three hall closets provide additional storage. The master bedroom is generously sized, and both bathrooms have been fully remodeled. The exterior chimney has also been rebuilt, with a new cap installed. The detached 1,300 sq. ft. apartment was remodeled, featuring ceramic tile flooring, a new bathroom vanity, a new hot water heater, and fresh paint. The apartment includes a laundry room, full kitchen with range oven and extra cabinets for storage, one bathroom with a shower, two bedrooms, and a covered back porch. Current tenant in place on a month-to-month term, rents for $900 per month and couldeasily rent for $1,000/month, providing a great opportunity to help with the mortgage. (NOT included in total listing sf of listing) Schedule a tour today!

What is House Hacking?

House hacking is a real estate investment strategy where you live in a property and rent out portions of it (such as other units, rooms, or even the entire property when you're away) to generate rental income. The goal is to reduce or completely cover your living expenses, such as your mortgage, utilities, or property taxes, by having tenants pay rent.

Here are some common ways people house hack:

1. Multi-family properties: Purchase a duplex, triplex, or fourplex (or larger) where you live in one unit and rent out the others. The rental income from the other units can help pay down your mortgage or cover other expenses.

2. Single-family homes with roommates: Buy a single-family home and rent out individual rooms to tenants. This is common in college towns or areas with high rental demand.

3. Accessory dwelling units (ADUs): If you own a property with space to build an additional unit (like a basement apartment, guest house, or garage conversion), you can live in the main house and rent out the ADU.

4. Renting part of your home: If you don't want to buy a multi-family property, you can rent out part of your home (like a finished basement or attic) while you live in the rest.

House hacking is a popular strategy for new real estate investors because it allows them to generate passive income and build equity while minimizing living costs. It's often seen as a great way to get started in real estate without needing a large initial investment.