76 Patrick Street
St. John's, NL, A1E2S7
2 Beds | 2 Baths
$224,000
About the property (MLS: 1276957):
This is a fabulous income oppotunity. The main floor currently is leased to a hair stylist and the lease is for $1100 pou per month, Any change in the status other than hair styling would require approval form the city. It has operated as a hair salon for many years by the previous owners. Any of the equipment that is not tenant owned could remain as part of the sale. Most of the equipment is owned by the landlord. Another possibility is that a purchaser could convert the main floor to an apartment. The second and third floors make up an apartment with its own meter, laundry, 2 bedrooms, living room kitchen and bathroom and it has its own entrance. (id:56688)
Property Details
Listing ID: 27369132
Address: 76 Patrick Street, St. John's, Newfoundland & Labrador, Canada A1E2S7
Status: Active
Last updated: 2 months ago ( Nov 15, 2024 )
Year Built: 1924
Property Type: Single Family
Architectural Style: 3 Level
Structure Type: Two Apartment House
Ownership Type: Freehold
Beds: 2
Baths: 2
1/2 Baths: 0
Heating: Baseboard heaters, Electric
Sewer: Municipal sewage system
Flooring: Mixed Flooring
Living Area Total: 1,650 square feet
Price per sq ft: $136
Tax Annual Amount: $2,200
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Appliances: Washer, Refrigerator, Stove, Dryer
Water Source: Municipal water
Foundation Details: Stone
Heating: Baseboard heaters, Electric
Flooring: Mixed Flooring
Exterior Features: Vinyl siding
Common Interest: Freehold
Number of photos available: 18
Rurl
Coordinates: [47.553963, -52.717936]
Rooms
| Third level | Laundry room Bedroom Bedroom | 7x8 null 10x14 null 10x14 null |
| Second level | Bath (# pieces 1-6) Kitchen Living room | 4 pc 10x14 null 15x12 null |
Basic Calculator
First Mortgage: $179,200
Mortgage insurance premium: $0
Total Financing: $179,200
Rough closing fee (1.5%): ~ $3,360
Total downpayment with estimated closing fee: $48,160
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $1,816 | $21,792 |
| Gross rental income (income/principal ratio) | 0.811% | 9.729% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $280 | $3,360 |
| Vacancy | $91 | $1,090 |
| Management Fee | $146 | $1,744 |
| Expense / Income Ratio | 15.42% | 15.42% |
| Cash Flow | $1,300 | $15,600 |
| Net Operating Income (NOI) | $1,300 | $15,600 |
| Capitalization Rate | 0.58% | 6.96% |
