35 Morgan Avenue
Paradise, NL, A1L3N3
5 Beds | 4 Baths
$474,900
About the property (MLS: 1290648):
This spacious 2-apartment home sits on an oversized lot with an extended driveway, rear yard access, 12x20 detached garage, southern exposure— this is THE one. The fully fenced yard adds both privacy and functionality for families and pets, and great for entertaining with the southern sun exposure. The main unit features a bright open-concept layout with 3 bedrooms, 2.5 bathrooms, and a large rec room for additional living space. Updated features throughout such as shiplap fireplaces, accent walls and remodelled bathroom. The basement includes a spacious 2-bedroom apartment, ideal for rental income or extended family. This property has been very well maintained- along with plenty of parking, modern finishes, and income potential, it checks all the boxes for homeowners and investors alike. As per Seller's Direction Regarding Offers, no conveyance of any written signed offers prior to 12pm Monday, September 29, 2025, and to be left open until 5pm Monday, September 29, 2025. (id:56688)
Property Details
Listing ID: 28910883
Address: 35 Morgan Avenue, Paradise, Newfoundland & Labrador, Canada A1L3N3
Status: Active
Last updated: 11 days ago ( Sep 28, 2025 )
Year Built: 2015
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: 4
1/2 Baths: 1
Heating: Baseboard heaters, Electric
Sewer: Municipal sewage system
Flooring: Laminate, Other
Fencing: Fence
Living Area Total: 2,606 square feet
Price per sq ft: $183
Tax Annual Amount: $3,069
Tax Year: 2025
Garage? Yes
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: Poured Concrete
Heating: Baseboard heaters, Electric
Flooring: Laminate, Other
Exterior Features: Vinyl siding
Cooling: Air exchanger
Common Interest: Freehold
Number of photos available: 37
Rurl
Coordinates: [47.5533, -52.898985]
Rooms
| Basement | Bath (# pieces 1-6) Not known Not known Not known Not known Primary Bedroom Bath (# pieces 1-6) Laundry room Recreation room | 4PC null 11.4 x 9.10 null 5.4 x 9.3 null 6 x 11.8 null 11.4 x 14 null 17.11 x 11.1 null 2PC null 7 x 7.3 null 21.10 x 11.2 null |
| Main level | Bath (# pieces 1-6) Bedroom Ensuite Bedroom Dining room Kitchen Living room | 4PC null 11.9 x 10 null 3PC null 11.9 x 10 null 12.3 x 9.5 null 12.3 x 19.5 null 18.11 x 11.4 null |
Basic Calculator
First Mortgage: $379,920
Mortgage insurance premium: $0
Total Financing: $379,920
Rough closing fee (1.5%): ~ $7,124
Total downpayment with estimated closing fee: $102,104
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,867 | $34,404 |
| Gross rental income (income/principal ratio) | 0.604% | 7.244% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $594 | $7,128 |
| Vacancy | $144 | $1,721 |
| Management Fee | $230 | $2,753 |
| Expense / Income Ratio | 20.72% | 20.72% |
| Cash Flow | $1,901 | $22,812 |
| Net Operating Income (NOI) | $1,901 | $22,812 |
| Capitalization Rate | 0.40% | 4.80% |
