About this propertyMLS® 1301528
What a Lot!! The opportunity here is almost unequaled. This classic bungalow is over 1600 sqft on the main plus a mostly developed basement. The home is in great over all condition and could be rented for now and kept for a future renovation or a redevelopment dream. Original hardwood floors, high, plaster ceilings, and claw foot tub bath make for a charming look back to inspire what's possible. There is even a detached garage suitable for 1 car parking + storage. With almost 16,000 sqft. of land you could create your own inner city paradise, especially with its setting as it is situated by surrounding properties. With the removal of the current structure there is also enough frontage (approx. 117 feet) for the potential to sub-divide into 2 oversized lots with walkout basements and views toward Signal Hill. (id:56688)
Property details
Coordinates: [47.577403, -52.708045]
Rooms
| Basement | Bath (# pieces 1-6) Laundry room Bedroom Recreation room | 3PCS null 5.5X11 null 10X12 null 17X18 null |
| Main level | Bath (# pieces 1-6) Bedroom Bedroom Primary Bedroom Kitchen Dining room Living room | 4PCS null 12X12.7 null 10.2X8.6 null 14X9.5 null 9.5X13.4 null 16.6X11.9 null 13.2X16.6 null |
Basic Calculator
First Mortgage: $638,222
Mortgage insurance premium: $0
Total Financing: $638,222
Rough closing fee (1.5%): ~ $11,967
Total downpayment with estimated closing fee: $171,523
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $3,624 | $43,488 |
| Gross rental income (income/principal ratio) | 0.454% | 5.451% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $998 | $11,976 |
| Vacancy | $182 | $2,175 |
| Management Fee | $290 | $3,480 |
| Expense / Income Ratio | 27.54% | 27.54% |
| Cash Flow | $2,155 | $25,860 |
| Net Operating Income (NOI) | $2,155 | $25,860 |
| Capitalization Rate | 0.27% | 3.24% |
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