48 Great Eastern Avenue
St. John's, NL, A1B0A4
5 Beds | 3 Baths
$489,900
About the property (MLS: 1286061):
Looking for a smart investment? This newly listed multi-family home offers the perfect opportunity to live and earn! Featuring two separate apartments that are currently tenant-occupied, this property provides immediate rental income from day one. The spacious 3 bedroom, 2 bathroom main floor offers flexibility for various living arrangements. The primary bedroom has an ensuite, and an additional room on the lower level. The 2 bedroom apartment is bright and spacious. Both units are presently rented, providing a steady cash flow for the savvy investor. Situated on a generous corner lot, this property offers excellent curb appeal and additional outdoor space. The detached shed provides valuable storage options for tools, seasonal items, or whatever you need to tuck away. Location is everything, and this home delivers! Just a short distance from Memorial University, it's ideally positioned to attract student renters or faculty members looking for convenient housing options. Nearby amenities include Sobeys Kenmount & Walmart, less than a km away, making grocery shopping a breeze. Whether you're a first-time investor or looking to expand your portfolio, this multi-family dwelling checks all the boxes. The combination of prime location, current tenants, and the potential for long-term appreciation makes this a property you won't want to miss. Schedule your private viewing today. (id:56688)
Property Details
Listing ID: 28423217
Address: 48 Great Eastern Avenue, St. John's, Newfoundland & Labrador, Canada A1B0A4
Status: Active
Last updated: 11 days ago ( Jun 9, 2025 )
Year Built: 2007
Property Type: Single Family
Structure Type: Two Apartment House
Ownership Type: Freehold
Beds: 5
Baths: 3
1/2 Baths: 0
Heating: Electric
Sewer: Municipal sewage system
Flooring: Concrete Slab
Living Area Total: 2,600 square feet
Price per sq ft: $189
Tax Annual Amount: $2,874
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Appliances: Dishwasher
Water Source: Municipal water
Foundation Details: Concrete
Heating: Electric
Flooring: Concrete Slab
Exterior Features: Vinyl siding
Cooling: Air exchanger
Common Interest: Freehold
Number of photos available: 26
Rurl
Coordinates: [47.549225, -52.793058]
Rooms
| Basement | Not known Not known Not known Not known Laundry room Not known | . null . null . null . null 8.2x9.2 null 10x13 null |
| Main level | Bedroom Bedroom Primary Bedroom Kitchen Living room | 10x10 null 9.6x9.11 null 11.10x13 null 12x17 null 11.11x21 null |
Basic Calculator
First Mortgage: $391,920
Mortgage insurance premium: $0
Total Financing: $391,920
Rough closing fee (1.5%): ~ $7,349
Total downpayment with estimated closing fee: $105,329
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,861 | $34,332 |
| Gross rental income (income/principal ratio) | 0.584% | 7.008% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $613 | $7,356 |
| Vacancy | $144 | $1,717 |
| Management Fee | $229 | $2,747 |
| Expense / Income Ratio | 21.43% | 21.43% |
| Cash Flow | $1,877 | $22,524 |
| Net Operating Income (NOI) | $1,877 | $22,524 |
| Capitalization Rate | 0.38% | 4.60% |
