40 Morgan Avenue
Paradise, NL, A1L3N3
5 Beds | 4 Baths
$549,900
About the property (MLS: 1292032):
One of the nicest and more spacious 2 apartment homes you will find. This spectacular bungalow boasts over 1500 square feet per floor excluding the large attached garage! The main unit is open concept with air tight and closed in entrance way which leads into a very spacious Living room, dining and massive custom kitchen complete with huge L shaped island that everyone will love. There is also a mini split in this area for super efficient heating as well as cooling in the humid months. There are 3 large bedrooms on the main level with the master having its own full ensuite and walk in closet. There is also main floor laundry so no more stairs on clothes day! The basement area has a massive rec room for the upstairs unit along with an additional half bathroom taking the total washrooms for this unit alone to 2 full baths and one half in the basement. The apartment is one of the nicest you will see. It too has a closed in entrance way, and is open concept with an enormous kitchen, dining and living room area. There is a ton of storage, all above ground windows, it's own separate small deck on the exterior and even has its own driveway! The lot is an oversized pie shape with drive in access to the fenced rear yard. This property literally has it all and was custom designed to impress and fit every lifestyle. Do not hesitate on this one! --The Seller(s) hereby directs the listing Brokerage there will be no conveyance of any written signed offers prior to 1PM on the 31 day of October 2025. The seller further directs that all offers are to remain open for acceptance until 6PM on the 31 day of October 2025. Conveyance includes but is not limited to presentation, communication, transmission, entertainment or notification of. (id:56688)
Property Details
Listing ID: 29036189
Address: 40 Morgan Avenue, Paradise, Newfoundland & Labrador, Canada A1L3N3
Status: Active
Last updated: 17 days ago ( Oct 27, 2025 )
Year Built: 2013
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, Mini-Split
Sewer: Municipal sewage system
Flooring: Hardwood, Other, Mixed Flooring
Living Area Total: 3,070 square feet
Price per sq ft: $180
Tax Annual Amount: $3,391
Garage? Yes
Attached Garage? Yes
Carport? No
Open Parking? No
Waterfront? No
Pool? No
Water Source: Municipal water
Foundation Details: Poured Concrete
Heating: Baseboard heaters, Electric, Mini-Split
Flooring: Hardwood, Other, Mixed Flooring
Exterior Features: Vinyl siding
Common Interest: Freehold
Number of photos available: 35
Rurl
Coordinates: [47.554212, -52.897839]
Rooms
| Basement | Bedroom Bedroom Living room Not known Recreation room | 10x10 null 12x10 null 14x15 null 13x17 null 17.4x16.4 null |
| Main level | Bedroom Bedroom Primary Bedroom Dining room Living room Kitchen | 11x11.10 null 10.6x10 null 15.9x12.1 null 10x9 null 12.7x14 null 14x16 null |
Basic Calculator
First Mortgage: $439,920
Mortgage insurance premium: $0
Total Financing: $439,920
Rough closing fee (1.5%): ~ $8,249
Total downpayment with estimated closing fee: $118,229
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $3,378 | $40,536 |
| Gross rental income (income/principal ratio) | 0.614% | 7.372% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $688 | $8,256 |
| Vacancy | $169 | $2,027 |
| Management Fee | $271 | $3,243 |
| Expense / Income Ratio | 20.37% | 20.37% |
| Cash Flow | $2,251 | $27,012 |
| Net Operating Income (NOI) | $2,251 | $27,012 |
| Capitalization Rate | 0.41% | 4.91% |
