37 Spruce Avenue
Mount Pearl, NL, A1N1A5
3 Beds | 1 Bath
$90,000
About the property (MLS: 1274199):
This property is NOT move in ready. It is as is where is. It is not a DIY fixer upper. It needs serious renovations or a complete tear down. This property has a oversized lot on a quite street in Eastern Mount Pearl with a zoning of Residential Medium Density! It is perfect for a contractor to tear down and build a duplex! (id:56688)
Property Details
MLS: 1274199
Listing ID: 27111237
Address: 37 Spruce Avenue, Mount Pearl, Newfoundland & Labrador, Canada A1N1A5
Status: Active
Last updated: 2 months ago ( Jul 2, 2024 )
Year Built: 2024
Property Type: Single Family
Structure Type: House
Ownership Type: Freehold
Number of stories: 1
Number of Levels: 1
Beds: 3
Baths: 1
1/2 Baths: 0
Heating: Baseboard heaters, Electric
Sewer: Municipal sewage system
Flooring: Laminate, Mixed Flooring
Living Area Total: 1,072 square feet
Price per sq ft: $84
Tax Annual Amount: $915
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Water Source: Municipal water
Foundation Details: Block
Heating: Baseboard heaters, Electric
Flooring: Laminate, Mixed Flooring
Exterior Features: Other
Common Interest: Freehold
Number of photos available: 22
Rurl
Coordinates: [47.518258, -52.786882]
Listing ID: 27111237
Address: 37 Spruce Avenue, Mount Pearl, Newfoundland & Labrador, Canada A1N1A5
Status: Active
Last updated: 2 months ago ( Jul 2, 2024 )
Year Built: 2024
Property Type: Single Family
Structure Type: House
Ownership Type: Freehold
Number of stories: 1
Number of Levels: 1
Beds: 3
Baths: 1
1/2 Baths: 0
Heating: Baseboard heaters, Electric
Sewer: Municipal sewage system
Flooring: Laminate, Mixed Flooring
Living Area Total: 1,072 square feet
Price per sq ft: $84
Tax Annual Amount: $915
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Water Source: Municipal water
Foundation Details: Block
Heating: Baseboard heaters, Electric
Flooring: Laminate, Mixed Flooring
Exterior Features: Other
Common Interest: Freehold
Number of photos available: 22
Rurl
Coordinates: [47.518258, -52.786882]
Rooms
| Main level | Laundry room Not known Storage Porch Bath (# pieces 1-6) Bedroom Bedroom Primary Bedroom Kitchen Living room | 9.5x7.5 null 13x4x8x3 null 6x11.5 null 8x6.5 null 6x5 null 9x8.5 null 13x9.75 null 12x8.5 null 22x7.75 null 25x11 null |
Basic Calculator
First Mortgage: $72,000
Mortgage insurance premium: $0
Total Financing: $72,000
Rough closing fee (1.5%): ~ $1,350
Total downpayment with estimated closing fee: $19,350
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $1,180 | $14,160 |
| Gross rental income (income/principal ratio) | 1.311% | 15.733% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $113 | $1,356 |
| Vacancy | $59 | $708 |
| Management Fee | $95 | $1,133 |
| Expense / Income Ratio | 9.58% | 9.58% |
| Cash Flow | $914 | $10,968 |
| Net Operating Income (NOI) | $914 | $10,968 |
| Capitalization Rate | 1.02% | 12.19% |
Capitalization Rate: 12.19%
After-repair value (ARV) (This is a rule for purchasing and flipping distressed real estate for a profit, which states that the purchase price should be less than 70% of after-repair value (ARV) minus repair costs (rehab).): $128,572
