For sale · MLS® 1302271
22 Irving Drive
Paradise, NL, A1L1S1
List price
$425,000
About this propertyMLS® 1302271
22 Irving Drive, Paradise has undergone recent renovations and has just received an occupancy permit for the new basement apartment. The main unit has an eat in kitchen, living room, 4 bedrooms, 2 full baths and laundry on the main level with an unfinished basement and a third bathroom roughed in. There is a tankless on demand electric water heater for the main unit. The basement unit has a closed porched, kitchen with open concept living room, 2 bedrooms, full bath and large laundry room. There is a ductless mini split heat pump for the basement unit. There is a 26 x 14' garage in the back yard. This lot is oversized, landscaped and fairly level, at 0.347 acres is superior to the majority in the community. The original house was a bungalow which has been raised in 2017 to provide a full height basement and add the second unit. Many upgrades have been completed in this renovation. There are finishing touches which are available for any Purchasers to evaluate and chose to complete to their desired specifications. This property has great rental potential, located in close proximity to recreation, shopping and all city amenities. (id:56688)
Property details
Coordinates: [47.532153, -52.869338]
Rooms
| Lower level | Laundry room Bath (# pieces 1-6) Bedroom Bedroom Kitchen Porch Bath (# pieces 1-6) Storage | 9.2x6.11 null 8.2x6.10 null 11.8x7.6 null 15.5x10.3 null 18.2x16.5 null 8.8x5.7 null 7.0x5.2 null 22.0x14.8 null |
| Main level | Porch Laundry room Bath (# pieces 1-6) Bedroom Bedroom Bedroom Ensuite Primary Bedroom Kitchen Living room | 7.6x7.3 null 9.8x5.7 null 7.6x7.3 null 12.11x8.11 null 9.7x8.9 null 17.9x8.10 null 14.2x5.6 null 14.4x11.4 null 29.6x8.4 null 25.6x11.8 null |
Basic Calculator
First Mortgage: $340,000
Mortgage insurance premium: $0
Total Financing: $340,000
Rough closing fee (1.5%): ~ $6,375
Total downpayment with estimated closing fee: $91,375
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,821 | $33,852 |
| Gross rental income (income/principal ratio) | 0.664% | 7.965% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $532 | $6,384 |
| Vacancy | $142 | $1,693 |
| Management Fee | $226 | $2,709 |
| Expense / Income Ratio | 18.86% | 18.86% |
| Cash Flow | $1,923 | $23,076 |
| Net Operating Income (NOI) | $1,923 | $23,076 |
| Capitalization Rate | 0.45% | 5.43% |
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