No, it wouldn't support that, but more importantly I question a $58,000 estimate for a garage. That's either a very 'fancy' garage, a very expensive contractor or an inflated price. I can't imagine a 'typical' garage costing that. Perhaps you'd be best served by getting more bids?
RE/MAX Gold RE
Using the value schedules used by appraisers, you will be extremely disappointed with the value that garage adds. As I advise to all homeowners, the ROI is largely realized through the enjoyment of you and your family of the investment.
But there is another way to assess the value of a garage.
Here in FL, a car ages quickly when the UV from the afternoon sun starts burning everything to a crisp.
Ask your REALTOR to provide you three sets of data.
Selling price of homes like your that sold with a garage.
W/o a garage
Finally, the value of the home with a garage conversion. (this is the most revealing) What happened to the value when the garage was turned into a bedroom?
Watch your mailbox and call the next REALTOR who offer you a FREE CMA.
Unfortunately the increase in your home value would be far less than $58k (less than $20k). Garages are very expensive to build but it's not a good investment. However, I'm sure you would get a lot of enjoyment out of having a garage especially if you plan to live there many years.