34 Lanark Drive
Paradise, NL, A1L3Y5
5 Beds | 4 Baths
$499,900
About the property (MLS: 1277030):
Backing onto Adams Pond is this registered two-apartment bungalow located in a highly sought after area of Paradise. With over 1900 sq ft per floor, this 3+2 bed, 3+1 bath home sits on an oversized treed lot with drive-in access to the low maintenance backyard with ample parking, wired 12x16 wired garage, greenhouse, vegetable garden and easy access to the walking trail around Adam's Pond and close to other trails. The main floor features beautiful engineered hardwood flooring, formal living room, dining room, spacious kitchen with hardwood cabinets and skylight, propane stove in large family room that has an 8 foot glass sliding door to a covered deck with pond views, spacious primary bedroom with full ensuite, walk-in closet as well as an additional room ideal as a home office or exercise room, 2 other spacious bedrooms and full main floor bath. The basement area for the main unit has a huge rec room that could also be a 4th bedroom, full bath and a large workshop area- also ideal as storage, a bedroom or multi purpose room. The above ground apartment is incredible with a bright kitchen and eating area, patio doors to the backyard, large family room, 2 spacious bedrooms, full bath, laundry and storage area and huge porch area. The exterior features mature trees, paved parking for at least 4 cars, driveway to the backyard with additional parking and an impressive veggie and herb garden. Located in one of the most sought after areas in Paradise makes this property ideal for a larger family that is also looking for an income generator in the basement for either long term tenancy, airbnb, older family members or grown kids. (id:56688)
Property Details
Listing ID: 27378306
Address: 34 Lanark Drive, Paradise, Newfoundland & Labrador, Canada A1L3Y5
Status: Active
Last updated: 4 months ago ( Sep 24, 2024 )
Year Built: 2009
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: 0
Heating: Baseboard heaters, Electric, Propane
Sewer: Municipal sewage system
Flooring: Hardwood, Laminate, Carpeted, Ceramic Tile
Living Area Total: 3,824 square feet
Price per sq ft: $131
Tax Annual Amount: $3,711
Garage? Yes
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Water Source: Municipal water
Foundation Details: Concrete
Heating: Baseboard heaters, Electric, Propane
Flooring: Hardwood, Laminate, Carpeted, Ceramic Tile
Fireplace Features: Insert, Propane
Exterior Features: Vinyl siding
Cooling: Air exchanger
Common Interest: Freehold
Number of photos available: 50
Rurl
Coordinates: [47.536146, -52.891291]
Rooms
| Basement | Laundry room Bath (# pieces 1-6) Not known Not known Not known Not known Not known Workshop Recreation room Bath (# pieces 1-6) | 8x5'9 null 3pc 9'4x8'10 null 12'4x11 null 12'4x11'9 null 10'8x8'9 null 10'4x7'9 null 20'8x11'2 null 16'3x11'8 null 3pc |
| Main level | Laundry room Bedroom Bedroom Ensuite Primary Bedroom Bath (# pieces 1-6) Living room Family room/Fireplace Dining room Kitchen | 8'10x6'5 null 11x9'5 null 11'3x8'10 null 3pc 13'9x11'5 null 3pc 12'4x11'3 null 17'3x10'8 null 12'3x10'9 null 12'3x12'1 null |
Basic Calculator
First Mortgage: $399,920
Mortgage insurance premium: $0
Total Financing: $399,920
Rough closing fee (1.5%): ~ $7,499
Total downpayment with estimated closing fee: $107,479
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $4,207 | $50,484 |
| Gross rental income (income/principal ratio) | 0.842% | 10.099% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $625 | $7,500 |
| Vacancy | $211 | $2,525 |
| Management Fee | $337 | $4,039 |
| Expense / Income Ratio | 14.86% | 14.86% |
| Cash Flow | $3,036 | $36,432 |
| Net Operating Income (NOI) | $3,036 | $36,432 |
| Capitalization Rate | 0.61% | 7.29% |
