38 Acharya Drive
Paradise, NL, A1L2T1
5 Beds | 3 Baths
$429,900
About the property (MLS: 1291746):
Welcome to 38 Acharya Drive in beautiful Adams Pond Subdivision in Paradise, located near walking trails, schools and all major amenities. This very well maintained 2-Apartment home could be all that you are looking for and more with rental income in the basement to help offset the mortgage each month. This split entry home has three bedrooms and two bathrooms on the main level with a large eat in kitchen and living room area. Downstairs in the main apartment you will find a large rec room area and laundry closet. The bright and spacious apartment boasts 2 bedrooms and a full bathroom with an eat in kitchen and living space. The oversized lot offers great privacy on the rear and has a detached garage out back great for storage. Recent upgrades include: Kitchen counter tops, two new toilets in the main apartment, sinks and faucets in main, freshly painted throughout main, shingles and siding 2021. Main floor is vacant and move in ready, tenants in the basement apartment moving out end of October. Sellers Direction: No conveyance of any offers until 5pm Thursday October, 23/2025, offers to be left open until 10pm the same day. (id:56688)
Property Details
Listing ID: 29013082
Address: 38 Acharya Drive, Paradise, Newfoundland & Labrador, Canada A1L2T1
Status: Active
Last updated: 24 days ago ( Oct 21, 2025 )
Year Built: 2010
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: Hardwood, Ceramic Tile, Mixed Flooring
Living Area Total: 2,388 square feet
Price per sq ft: $181
Tax Annual Amount: $4,252
Tax Year: 2025
Garage? Yes
Attached Garage? No
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Appliances: Washer, Dishwasher, Dryer, Microwave
Water Source: Municipal water
Heating: Electric
Flooring: Hardwood, Ceramic Tile, Mixed Flooring
Exterior Features: Vinyl siding
Cooling: Air exchanger
Common Interest: Freehold
Number of photos available: 26
Rurl
Coordinates: [47.54157, -52.89227]
Rooms
| Basement | Recreation room | 12.0 x 14.0 null |
| Main level | Ensuite Primary Bedroom Bedroom Bedroom Bath (# pieces 1-6) Not known Living room | 3PC null 14.0 x 11.3 null 13.2 x 9.0 null 13.2 x 11.0 null 3PC null 15.0 x 14.3 null 15.2 x 11.6 null |
Basic Calculator
First Mortgage: $343,920
Mortgage insurance premium: $0
Total Financing: $343,920
Rough closing fee (1.5%): ~ $6,449
Total downpayment with estimated closing fee: $92,429
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,627 | $31,524 |
| Gross rental income (income/principal ratio) | 0.611% | 7.333% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $538 | $6,456 |
| Vacancy | $132 | $1,577 |
| Management Fee | $211 | $2,522 |
| Expense / Income Ratio | 20.48% | 20.48% |
| Cash Flow | $1,748 | $20,976 |
| Net Operating Income (NOI) | $1,748 | $20,976 |
| Capitalization Rate | 0.41% | 4.88% |
