23 Fred W Brown Drive
Paradise, NL, A1L0V9
5 Beds | 3 Baths
$449,900
About the property (MLS: 1287603):
Welcome to 23 Fred W Brown Drive – a beautifully maintained 2-apartment home offering incredible value for investors or first-time home buyers. Built in 2016, this property has been immaculately cared for and is move-in ready. The main unit features an open-concept living, dining, and kitchen areas, perfect for entertaining. The primary bedroom includes a ensuite, while two additional bedrooms and a rec room provide plenty of room for family living. The bright and modern apartment offers two bedrooms and its own laundry. With the top unit currently owner-occupied, this home presents a fantastic opportunity for investors to set their own rental rate or for first-time buyers to supplement their mortgage. Located in a sought-after, family-friendly neighbourhood in Paradise, this home is close to schools, shopping, and recreational facilities – a huge advantage for both homeowners and potential tenants. As per seller direction there will be no conveyance of offers prior to 5pm July 26th, all offers to be left open for consideration until 8pm July 26th. (id:56688)
Property Details
Listing ID: 28631295
Address: 23 Fred W Brown Drive, Paradise, Newfoundland & Labrador, Canada A1L0V9
Status: Active
Last updated: 6 days ago ( Jul 27, 2025 )
Year Built: 2016
Property Type: Single Family
Architectural Style: Bungalow
Structure Type: Two Apartment House
Ownership Type: Freehold
Number of stories: 1
Number of Levels: 1
Beds: 5
Baths: 3
1/2 Baths: 0
Heating: Baseboard heaters, Electric
Sewer: Municipal sewage system
Flooring: Laminate, Other
Fencing: Fence
Living Area Total: 2,236 square feet
Price per sq ft: $202
Tax Annual Amount: $2,619
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: Baseboard heaters, Electric
Flooring: Laminate, Other
Exterior Features: Vinyl siding
Cooling: Air exchanger
Common Interest: Freehold
Number of photos available: 40
Rurl
Coordinates: [47.534, -52.876002]
Rooms
| Basement | Laundry room Bath (# pieces 1-6) Bedroom Bedroom Living room Not known Foyer Laundry room Recreation room | 4.10 x 7 null 4pc 10.7 x 9.1 null 11.11 x 9.8 null 11.11 x 9.11 null 11.11 x 9.10 null 4.11 x 5.5 null 5.8 x 6.7 null 16.7 x 21.1 null |
| Main level | Bath (# pieces 1-6) Bedroom Bedroom Ensuite Primary Bedroom Dining nook Kitchen Living room Foyer | 4pc 8.5 x 10.11 null 9.7 x 12.11 null 3pc 12.9 x 14.2 null 10.10 x 7.7 null 10.10 x 9.9 null 11.4 x 12.7 null 7.11 x 6.3 null |
Basic Calculator
First Mortgage: $359,920
Mortgage insurance premium: $0
Total Financing: $359,920
Rough closing fee (1.5%): ~ $6,749
Total downpayment with estimated closing fee: $96,729
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,460 | $29,520 |
| Gross rental income (income/principal ratio) | 0.547% | 6.561% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $563 | $6,756 |
| Vacancy | $123 | $1,476 |
| Management Fee | $197 | $2,362 |
| Expense / Income Ratio | 22.89% | 22.89% |
| Cash Flow | $1,578 | $18,936 |
| Net Operating Income (NOI) | $1,578 | $18,936 |
| Capitalization Rate | 0.35% | 4.21% |
