I would first ask your parents about the contract they have with the people renting the basement, and whether or not they included the electric and gas in their rent. If they did not, I would start by discussing it with the renters in the basement and ask them to help you pay for it.... more
In order to be considered a legal bedroom, the bedroom must have an escape route directly to the outside in case of fire. The bottom of the window should be no more than 44 inches off the floor, and big enough that a fireman with his equipment should be able to get through. I have a link to a great detailed blog on this topic.
Hi Glenn - that's a pretty tough question to answer. It would help to know which neighborhood you are thinking about. On average, single family homes that are built in the 70s or 80s would rent for $2000 but can range from $1600 - $2400.
Please let me know the name of the subdivision and I can provide better rental comps to narrow down the price point.
Best way I know of is to contact an agent and have them run the search for you.
If you want to do it the hard way, search for homes for sale by a specific address in the area. Most MLS listings viewable by the public will list the subdivision. Note the subdivision. Then the trick is to find an MLS resource that allows you to search by subdivision. I won't post the one I use here since it is a 3rd party resource. If you want to email me (firstname.lastname@example.org), I will send you the link privately.
All the best!