Thanks for your input sdrealtor. The 3rd bedroom, I believe, could be a legal bedroom. I’m not exactly sure what the process would be, but I believe I could have that reflect on the tax rolls.
The house is in overall good condition, but like anything, will need cosmetic updates. The question really is whether the neighborhood will support adequate price appreciation for such updates.
It has been remodeled somewhat; I’m not sure which, but one prior owner added recessed can lighting, crown molding, etc. The flooring, bathrooms, and certain exterior features could stand further updating.