63 Summit Drive
Paradise, NL, A1L2P3
4 Beds | 4 Baths
$569,500
About the property (MLS: 1279235):
Fully developed executive home offering four good sized bedrooms , three that offer a commanding view that captures the panoranic views of Concepion Bay .The master ensuite is so appealing with the jacuzzi placementt . The home is complimented with hardwood floors and ceramic tiles in the areas that get high traffic and the bathrooms of course. The beautiful kitchen with granite counters and stainless steel appliances also has a bonus pantry .Living room w/propane fireplace .Basement recroom offers a large wet bar and a walkout to the beautiful gardens. Property is presently leased for a second term up to March 31 2025 NOTE tenant would prefer to stay . Rental is $ 3400/mth POU .With the bank rates where they are today this income property is a fabulous investment venture . (id:56688)
Property Details
Listing ID: 27604682
Address: 63 Summit Drive, Paradise, Newfoundland & Labrador, Canada A1L2P3
Status: Active
Last updated: a month ago ( Nov 1, 2024 )
Year Built: 1993
Property Type: Single Family
Architectural Style: 2 Level
Structure Type: House
Ownership Type: Freehold
View: Ocean view, View
Number of stories: 2
Number of Levels: 2
Beds: 4
Baths: 4
1/2 Baths: 2
Heating: Baseboard heaters, Electric, Propane
Sewer: Septic tank
Flooring: Hardwood, Laminate, Carpeted
Living Area Total: 3,450 square feet
Price per sq ft: $166
Tax Annual Amount: $0
Garage? Yes
Attached Garage? Yes
Carport? No
Open Parking? No
Garage Spaces: 2
Waterfront? No
Pool? No
Appliances: Washer, Refrigerator, Dishwasher, Stove, Dryer, Microwave
Water Source: Drilled Well
Foundation Details: Poured Concrete
Heating: Baseboard heaters, Electric, Propane
Flooring: Hardwood, Laminate, Carpeted
Fireplace Features: Insert, Propane
Exterior Features: Vinyl siding
Common Interest: Freehold
Number of photos available: 49
Rurl
Coordinates: [47.535141, -52.90312]
Rooms
| Main level | Not known Eating area Foyer Laundry room Kitchen Dining room Bath (# pieces 1-6) Family room Living room/Fireplace | 19 x 22 null 6 x 8.6 null 12 x 14.3 null 10 x 12 null 12 x 16 null 13 x 15 null |
| Basement | Bath (# pieces 1-6) Family room Recreation room | 12 x 39.6 null 14.4 x 19.9 null |
| Second level | Bath (# pieces 1-6) Ensuite Bedroom Bedroom Bedroom Primary Bedroom | 10 x 12 null 9.10 x 17.10 null 10 x 12 null 13 x 15.3 null |
Basic Calculator
First Mortgage: $455,600
Mortgage insurance premium: $0
Total Financing: $455,600
Rough closing fee (1.5%): ~ $8,543
Total downpayment with estimated closing fee: $122,443
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $3,796 | $45,552 |
| Gross rental income (income/principal ratio) | 0.667% | 7.999% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $712 | $8,544 |
| Vacancy | $190 | $2,278 |
| Management Fee | $304 | $3,645 |
| Expense / Income Ratio | 18.76% | 18.76% |
| Cash Flow | $2,591 | $31,092 |
| Net Operating Income (NOI) | $2,591 | $31,092 |
| Capitalization Rate | 0.45% | 5.46% |
