About the property (MLS: 1281284):
Attention investors! Check out this rare multi-unit property in downtown St. John's! With rents rapidly rising over the last few years, 54 Hamilton Avenue provides an amazing opportunity for the savvy investor to get into the rental market with this registered, 3-unit dwelling for less than $300,000! The earning potential on this one is incredible considering current market conditions. With one unit already rented at $800 POU (and soon to be $950 after the most recent rental increase), this could be your chance to live in one unit while renting the other two - a chance to live nearly rent/mortgage free! - OR you could put the property to its max earning potential and rent all 3! (id:56688)
Property Details
Listing ID: 27848514
Address: 54 Hamilton Avenue, St. John's, Newfoundland & Labrador, Canada A1E1H7
Status: Active
Last updated: 13 hours ago ( Feb 13, 2025 )
Year Built: 1922
Property Type: Single Family
Structure Type: Multi-Family
Ownership Type: Freehold
Beds: 0
Heating: Baseboard heaters, Electric
Sewer: Municipal sewage system
Flooring: Mixed Flooring
Living Area Total: 1,800 square feet
Price per sq ft: $157
Tax Annual Amount: $1,803
Tax Year: 2025
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Water Source: Municipal water
Foundation Details: Concrete
Heating: Baseboard heaters, Electric
Flooring: Mixed Flooring
Exterior Features: Other
Common Interest: Freehold
Number of photos available: 29
Rurl
Coordinates: [47.555453, -52.716107]
Rooms
Basic Calculator
First Mortgage: $225,600
Mortgage insurance premium: $0
Total Financing: $225,600
Rough closing fee (1.5%): ~ $4,230
Total downpayment with estimated closing fee: $60,630
Investment Calculator:
Monthly | Yearly | |
---|---|---|
Gross Revenue | $1,981 | $23,772 |
Gross rental income (income/principal ratio) | 0.702% | 8.430% |
Mortgage | $0 | $0 |
Monthly Expenses | $353 | $4,236 |
Vacancy | $100 | $1,189 |
Management Fee | $159 | $1,902 |
Expense / Income Ratio | 17.82% | 17.82% |
Cash Flow | $1,371 | $16,452 |
Net Operating Income (NOI) | $1,371 | $16,452 |
Capitalization Rate | 0.49% | 5.83% |