Three factors are discussed a lot with HT design and the room. 1)Room size, 2) Room shape, 3) Room acoustics.
You find the cubic feet of the room by multiplying LxWxH. You will be limited in height in a basement, but should be good for 1000, or more CF.
Rectangular room shapes are preferred. Dimensions should not be multiples of each other, (e.g. 8x16x20, 10x16x20, 8x14x28 are all bad).
www.acousticsfirst.com has helped me many times. They have a large supply of items to absorb, reflect, diffuse and block sound. A basement is great because it is dead. "The deader, the better".
(Credit to some of this info goes to Russ Herschelmann, one of CEDIA's founding fathers. Article: "Home Theater, Essential Elements", 1995, p.7).