About the property (MLS: 1272772):
Luxury meets functionality in this stylish 2-apartment home at 112 New Cove Road. On entry you'll find an enclosed porch with a double closet for plenty of storage. The main floor living area boasts an open concept design with high end finishes such as heated floors in the living room, kitchen with large centre island, propane range, and updated backsplash. The main floor also locates 3 well appointed bedrooms and main bathroom with heated floor. The primary bedroom boasts a lavish ensuite with heated floors and custom glass and tile shower. Downstairs you'll find a spacious rec room, ideal for a secondary family room, as well as half bathroom, and laundry for the main unit. The two bedroom basement apartment is a fantastic income generator and features an open concept design and laundry. Outside features a large rear deck, perfect for those summer bbq's or entertaining, along with a nicely sized, partially fenced backyard. Other upgrades to the property include upgraded electrical and a hot tub hookup. On the doorsteps of Quidi Vidi Lake in one of St. John's most sought after neighbourhoods, this home is within scenic walking distance to countless local amenities and both MUN and HSC are just around the corner. Whether you're a home buyer looking for an elevated home with income earning potential, or an investor looking to snap up a quality property in a great area, you'll want to check this one out. (id:56688)
Property Details
Listing ID: 26953757
Address: 112 New Cove Road, St. John's, Newfoundland & Labrador, Canada A1A2C4
Status: Active
Last updated: 2 years ago ( May 28, 2024 )
Year Built: 2014
Property Type: Single Family
Architectural Style: Bungalow
Structure Type: Two Apartment House
Ownership Type: Freehold
Number of stories: 1
Number of Levels: 1
Beds: 5
Baths: 4
1/2 Baths: 1
Heating: Electric
Sewer: Municipal sewage system
Flooring: Hardwood, Laminate, Ceramic Tile
Living Area Total: 2,622 square feet
Price per sq ft: $201
Tax Annual Amount: $3,994
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Water Source: Municipal water
Foundation Details: Poured Concrete
Heating: Electric
Flooring: Hardwood, Laminate, Ceramic Tile
Exterior Features: Vinyl siding
Common Interest: Freehold
Number of photos available: 28
Rurl
Coordinates: [47.582957, -52.709671]
Rooms
| Basement | Bath (# pieces 1-6) Not known Not known Not known Not known Laundry room Family room | 7.10x7.90 feet 10.90x9.11 feet 10.90x10.00 feet 7.10x19.20 feet 13.60x19.20 feet 10.11x7.60 feet 10.5x19.20 feet |
| Main level | Storage Bath (# pieces 1-6) Bedroom Bedroom Ensuite Primary Bedroom Kitchen Living room | 10.11x4.90 feet 7.0x7.10 feet 10x10.8 feet 10x10.11 feet 10.11x5.5 feet 10.11x13.7 feet 14x19.20 feet 10.5x19.20 feet |
Basic Calculator
First Mortgage: $419,920
Mortgage insurance premium: $0
Total Financing: $419,920
Rough closing fee (1.5%): ~ $7,874
Total downpayment with estimated closing fee: $112,854
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,885 | $34,620 |
| Gross rental income (income/principal ratio) | 0.550% | 6.596% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $657 | $7,884 |
| Vacancy | $145 | $1,731 |
| Management Fee | $231 | $2,770 |
| Expense / Income Ratio | 22.77% | 22.77% |
| Cash Flow | $1,853 | $22,236 |
| Net Operating Income (NOI) | $1,853 | $22,236 |
| Capitalization Rate | 0.35% | 4.24% |






























