I have a rental home that was built in roughly 1940. It's a pier and beam, 1100 sqft, 3 bedroom, 2 bath, 1.5 story, and sits on 4 acres (3 acres fenced in with stalls) in Conroe. We bought it because it's adjacent to our property so it allowed us to have a contiguous 6 acres, make some extra money, and have a say in who our neighbors will be.

Last year we had a metal roof installed and replaced all the counter balanced wood windows with vinyl double pane windows. I'm wondering as we go forward, would it be worth residing (has wood panels which I've had to replace about 30% due to rot) as well remodeling the interior? We will sell it one day, but I don't want to do so much that the return diminishes since it is old and small.

The home is in Conroe just on the east side of 45 across from the Grand Central Park development.

First, I'll run rent comps for you if you send me an address.

Second, if you want to have the type of tenant/neighbor that can only afford $600 a month in rent, leave as is. If you'd rather have the type of neighbor that can afford something more working class or upscale, fix it up accordingly.

Well I do have renters and because of the pasture, I make $500 a month more than mortgage/escrow. I'm thinking in terms of selling one day (really in like 10 years). Would it be worth upgrading if the return wouldn't be the same as in a newer home.

What's your email?

jamie@myredpear.com

Can you get more rent for it fixed up?

I would shore up the pier and beam/floor before I did anything else because it will effect every dime you put in it from here on.