7 Simcoe Drive
Mount Pearl, NL, A1N4W5
5 Beds | 2 Baths
$389,900
About the property (MLS: 1285534):
Welcome to your future home in one of Mount Pearl’s most desirable residential neighborhoods! This well-maintained 5-bedroom, 2-bathroom 2-apartment home offers the perfect balance of comfortable family living and smart investment potential. The main unit features 3 bedrooms, including a primary bedroom with direct access to a unique Jack and Jill bathroom. The bright living room boasts lovely views, while the separate kitchen and dining areas provide ideal space for daily living. A cozy rec room on the lower level adds even more space to relax or entertain. The 2-bedroom basement apartment is equally impressive, offering a spacious layout with a full kitchen, large living room, and full bath—ideal for rental income to help offset your mortgage or enhance your return as an investor. Currently, the apartment is rented on month to month basis. Located within walking distance to the new hospital at Kenmount Crossing, this home is perfectly positioned in a quiet, family-friendly neighborhood with excellent potential. this is your golden chance to invest in a growing area, live comfortably and earn rental income. Don’t miss this incredible opportunity—homes like this don’t stay on the market for long! As per the Seller’s Direction, no offers will be conveyed prior to 11:00 AM on Monday, June 2nd, 2025. All offers must remain open for acceptance until 4:00 PM on the same day. (id:56688)
Property Details
Listing ID: 28382945
Address: 7 Simcoe Drive, Mount Pearl, Newfoundland & Labrador, Canada A1N4W5
Status: Active
Last updated: 9 days ago ( Jun 3, 2025 )
Year Built: 1994
Property Type: Single Family
Structure Type: Two Apartment House
Ownership Type: Freehold
Beds: 5
Baths: 2
1/2 Baths: 0
Heating: Electric
Sewer: Municipal sewage system
Flooring: Mixed Flooring
Living Area Total: 2,072 square feet
Price per sq ft: $189
Tax Annual Amount: $2,795
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: Electric
Flooring: Mixed Flooring
Exterior Features: Vinyl siding
Common Interest: Freehold
Number of photos available: 31
Rurl
Coordinates: [47.531342, -52.809461]
Rooms
| Basement | Bath (# pieces 1-6) Bedroom Bedroom Kitchen Living room/Dining room Recreation room | 3 PIECE null 12.1 * 10.6 null 13.1 * 9.4 null 13.7 * 9.1 null 8.11 * 12.11 null 10 * 11 null |
| Main level | Bath (# pieces 1-6) Bedroom Bedroom Primary Bedroom Dining room Kitchen Living room | 3 Piece null 10..1 * 8.6 null 10.11 * 9.8 null 12.0 * 10.1 null 8.7 * 11 null 10.3 * 12 null 15.1 8 10.6 null |
Basic Calculator
First Mortgage: $311,920
Mortgage insurance premium: $0
Total Financing: $311,920
Rough closing fee (1.5%): ~ $5,849
Total downpayment with estimated closing fee: $83,829
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,280 | $27,360 |
| Gross rental income (income/principal ratio) | 0.585% | 7.017% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $488 | $5,856 |
| Vacancy | $114 | $1,368 |
| Management Fee | $183 | $2,189 |
| Expense / Income Ratio | 21.40% | 21.40% |
| Cash Flow | $1,496 | $17,952 |
| Net Operating Income (NOI) | $1,496 | $17,952 |
| Capitalization Rate | 0.38% | 4.60% |
