Product demos
Renting part of your home.
One home, one rented basement, and every section of the report explained as it appears. About three minutes, or jump to the part you care about.
Product demo video
Miles and Sarah are AI-generated voices, not PriceDNA employees.
Sarah Hi, I'm Sarah, and this is Myles. Today, renting part of the home you live in, and what it can do for your bottom line.
Myles Let's see it.
Sarah Renting part of my home. Our example, eight twelve Walnut Street, Cedar Falls, Iowa.
Sarah It's worth about two eighty five. Tax and insurance, fifty nine hundred a year.
Sarah We still owe two oh two, at six and a quarter percent. Thirteen twenty four a month in principal and interest.
Sarah The basement is a one bedroom. You can model it short term, like Airbnb, or long term. We'll go long term, well within the typical range nearby: six ten.
Sarah Get my report. It pulls this area's rents and price history. Myles?
Myles Up top, net rent after costs. A tenant brings extra utilities, wear and the odd empty month, so it starts by keeping seventy percent. That's four twenty seven a month of extra cash flow.
Sarah And if the tenant pays the utilities?
Myles Slide it up, as far as ninety percent. Upkeep and wear still cost something, but you keep more.
Sarah Good to know. Back to seventy for now, the report's starting point.
Myles Now, say you'd rather put some or all of that toward the mortgage. You can simulate it here.
Myles Put half toward the loan, and it's paid off over eight years sooner, with about seventy thousand less interest. The rest stays in your pocket.
Sarah So it's your call. Cash now, or a paid-off home sooner.
Myles Where these numbers lead. Hover any year: by year ten, about two hundred twenty three thousand, a little over half from your home's value.
Myles Now plan for the worst case. Downturn replays this county's hardest downturn on record, nineteen eighty two to eighty seven. The value dips, but as long as the basement stays rented, the cash keeps coming.
Myles And every assumption behind the analysis.
Myles That's it. Your home, working for you. Anything to add, Sarah?
Sarah Before you rent, make sure your insurance and local rules are covered. Then run one on your own home.
Myles See ya.
Announcer PriceDNA is for education and information only. It is not an appraisal or investment advice, and projections are not guarantees.