Excellent Tenant - wants to stay (low maintenance, easy going, and pays the rent!!!)
15% annual return on investment plus increase in property value.
Easy money - tenant pays Powerstream, Enbridge, and water/sewer.
You just pay mortgage, taxes, and insurance.
Positive cash flow every month!
The house is 2150 finished living space
Walkout basement
Easy to in-law
The basement is finished including a 4 piece bathroom
Cold cellar or cantina
Landscaped
Large deck front and back
Double wide driveway
Great nieghbourhood with park across the street
Inside entry from the garage
Eat in kitchen with breakfast bar, a dishwasher, and stainless steel fridge and stove
All appliances included in the price. (washer and dryer too)
Mainfloor walkout to large deck
Mainfloor powder room
Gas fireplace
A/C
Potlights and crown molding
Three good sized bedrooms upstairs with lots of closet space
Full bathroom and full ensuite in the master bedroom
Walk in closet
You will have no trouble renting or reselling this house. Tenant has been there since 2010.
Example of how it can make you money every month and 15% annual return on your investment.
$228,000
3% interest rate over 30 year amortization makes monthly payments of $960
$400 of that goes towards paying down the principle
Taxes are approx $275 a month
Insurance $50 a month
That totals $1285 in monthly expenses
The tenant pays $1600
That leaves $315 positive cash flow every month + $400 in principle "pay down"
715 x 12 = $8580 a year
$8580 divided by your down payment equals 15% annual return.
If house prices increase by 2% a year, that's another $5700 in returns making it a total of 25% annual return. Not bad for little to no work!
Call or text 705 730-3348
Brad
House is priced below market value because I am not using an agent.
Willing to work with agents but that will be reflexed in the price.