70 Mayor Avenue
St. John's, NL, A1C4N8
3 Beds | 2 Baths
$300,000
About the property (MLS: 1285958):
Attention students, investors, and first-time home buyers! This RENOVATED duplex with MAJOR COMPONENTS UPGRADED offers unbeatable convenience and solid rental returns in the heart of St. John's. Corner lot with off-street parking. Centrally located on bus routes with walking distance to Memorial University, downtown St. John's, supermarkets, hospitals, and shopping. Main unit is a beautiful bright and welcoming with 9-foot ceilings, large family room plus living room, large eat-in kitchen, own laundry room, and attractive laminate and ceramic flooring. Rear unit is a bright and spacious 2-bedroom apartment with beautiful hardwood floors, pine wood decor throughout, large eat-in kitchen, own laundry room, and new deck. Both units have independent electrical meters and separate heating systems and are well-maintained and move-in ready. MAJOR RECENT UPGRADES completed March-May 2025 include complete electrical overhaul with new wiring to code, dual meter system (200/100 amp), new lighting, new electric hot water furnace and hot water tank, brand new roof, apartment deck and exit door, new ceilings, flooring, kitchen countertop, crown mouldings in main unit, and fresh paint and new toilets in both units. Heat pump heads were installed in 2024. Previous upgrades from 2018 include blown-in insulation, vinyl siding, and many new windows. Strong rental income of $1,700 per unit totalling $40,800 annually(potentially). Perfect for investors seeking reliable rental income or owner-occupants looking to offset mortgage costs. The prime location ensures consistent tenant demand from MUN students and young professionals. Excellent potential for Airbnb rentals. (id:56688)
Property Details
Listing ID: 28419729
Address: 70 Mayor Avenue, St. John's, Newfoundland & Labrador, Canada A1C4N8
Status: Active
Last updated: 6 days ago ( Jun 6, 2025 )
Year Built: 1950
Property Type: Single Family
Architectural Style: Bungalow
Structure Type: Two Apartment House
Ownership Type: Freehold
Number of stories: 1
Number of Levels: 1
Beds: 3
Baths: 2
1/2 Baths: 0
Heating: Hot water radiator heat, Electric
Sewer: Municipal sewage system
Flooring: Hardwood, Laminate
Living Area Total: 1,600 square feet
Price per sq ft: $188
Tax Annual Amount: $3,214
Tax Year: 2025
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Appliances: Washer, Refrigerator, Dishwasher, Stove, Dryer, Microwave
Water Source: Municipal water
Foundation Details: Concrete
Heating: Hot water radiator heat, Electric
Flooring: Hardwood, Laminate
Exterior Features: Vinyl siding
Common Interest: Freehold
Number of photos available: 32
Rurl
Coordinates: [47.566621, -52.720717]
Rooms
| Main level | Not known Bath (# pieces 1-6) Not known Not known Not known Not known Porch Laundry room Bath (# pieces 1-6) Bedroom Family room Living room Not known | 8.6x6 null 3 pieces null 9.6x10.6 null 10x11.4 null 9.3x13.8 null 10.2x12.9 null 6x4 null 11.6x4.6 null 3 piece null 13x7.9 null 12x18 null 12x11.6 null 13x11.6 null |
Basic Calculator
First Mortgage: $240,000
Mortgage insurance premium: $0
Total Financing: $240,000
Rough closing fee (1.5%): ~ $4,500
Total downpayment with estimated closing fee: $64,500
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $1,761 | $21,132 |
| Gross rental income (income/principal ratio) | 0.587% | 7.044% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $375 | $4,500 |
| Vacancy | $89 | $1,057 |
| Management Fee | $141 | $1,691 |
| Expense / Income Ratio | 21.29% | 21.29% |
| Cash Flow | $1,158 | $13,896 |
| Net Operating Income (NOI) | $1,158 | $13,896 |
| Capitalization Rate | 0.39% | 4.63% |
