588 Southside Road
St. John's, NL, A1E1A5
4 Beds | 2 Baths
$250,000
About the property (MLS: 1286147):
Overlooking the Waterford River and Trailway, this is a legitimate two apartment property with two water taxes. Detached and well maintained with a lovely backyard, shed and deck overlooking the river. The home has been in the family for many years. The property will need some electrical upgrades to make it currently insurable, but the list price reflects this. Property is being sold "As Is". (id:56688)
Property Details
MLS: 1286147
Listing ID: 28439674
Address: 588 Southside Road, St. John's, Newfoundland & Labrador, Canada A1E1A5
Status: Active
Last updated: 3 days ago ( Jun 9, 2025 )
Year Built: 1951
Property Type: Single Family
Structure Type: Two Apartment House
Ownership Type: Freehold
Beds: 4
Baths: 2
1/2 Baths: 0
Heating: Electric
Sewer: Municipal sewage system
Flooring: Laminate
Living Area Total: 1,500 square feet
Price per sq ft: $167
Tax Annual Amount: $1,628
Tax Year: 2025
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Appliances: Washer, Dryer
Water Source: Municipal water
Heating: Electric
Flooring: Laminate
Exterior Features: Vinyl siding
Common Interest: Freehold
Number of photos available: 20
Rurl
Coordinates: [47.540725, -52.726324]
Listing ID: 28439674
Address: 588 Southside Road, St. John's, Newfoundland & Labrador, Canada A1E1A5
Status: Active
Last updated: 3 days ago ( Jun 9, 2025 )
Year Built: 1951
Property Type: Single Family
Structure Type: Two Apartment House
Ownership Type: Freehold
Beds: 4
Baths: 2
1/2 Baths: 0
Heating: Electric
Sewer: Municipal sewage system
Flooring: Laminate
Living Area Total: 1,500 square feet
Price per sq ft: $167
Tax Annual Amount: $1,628
Tax Year: 2025
Garage? No
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Appliances: Washer, Dryer
Water Source: Municipal water
Heating: Electric
Flooring: Laminate
Exterior Features: Vinyl siding
Common Interest: Freehold
Number of photos available: 20
Rurl
Coordinates: [47.540725, -52.726324]
Rooms
| Basement | Bath (# pieces 1-6) Not known Not known Not known Not known Storage Laundry room | BATH3 null 9 x 8 null 5 x 10 null 11.5 x 10 null 11 x 10 null 10 x 3 null 12 x 9 null |
| Main level | Bath (# pieces 1-6) Other Bedroom Primary Bedroom Kitchen Living room | BATH4 null 7 x 9 null 9.5 x 9 null 14 x 10 null 14 x 10 null 14 x 10 null |
Basic Calculator
First Mortgage: $200,000
Mortgage insurance premium: $0
Total Financing: $200,000
Rough closing fee (1.5%): ~ $3,750
Total downpayment with estimated closing fee: $53,750
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $1,651 | $19,812 |
| Gross rental income (income/principal ratio) | 0.660% | 7.925% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $313 | $3,756 |
| Vacancy | $83 | $991 |
| Management Fee | $133 | $1,585 |
| Expense / Income Ratio | 18.96% | 18.96% |
| Cash Flow | $1,124 | $13,488 |
| Net Operating Income (NOI) | $1,124 | $13,488 |
| Capitalization Rate | 0.45% | 5.40% |
Capitalization Rate: 5.40%
After-repair value (ARV) (This is a rule for purchasing and flipping distressed real estate for a profit, which states that the purchase price should be less than 70% of after-repair value (ARV) minus repair costs (rehab).): $357,143
