About this propertyMLS® 1303641
Welcome to 115 Ridgewood Drive, a custom-built executive two-story home overlooking Conception Bay from one of Paradise’s sought-after settings. Offering approximately 4,800 sq. ft. of finished living space, including a registered two-bedroom basement apartment, this impressive property delivers scale, quality, flexibility, and a view to match. Set on a 1-Acre lot backing toward the ocean, the home features a wraparound front veranda, spacious rear patio with covered overhang, attached double garage, and driveway separation for the main home and apartment. Just inside is a grand two-story foyer and striking custom staircase create an immediate sense of presence. The main floor featuring 9' ceilings is designed for both everyday living and entertaining, with a formal dining room, family room, and open-concept living, dining, and kitchen area positioned to take advantage of the ocean views. The kitchen serves as the centerpiece, offering cream cabinetry, granite countertops, and a large 3' x 9' island. Wide-plank engineered hardwood, heated tile flooring, trim work, and a stone propane fireplace add to the home’s elevated finish level. The second floor includes four spacious bedrooms, highlighted by a large primary suite with his-and-hers closets and a custom ensuite featuring heated floors, a soaker tub, tiled shower, and double vanities. The registered basement apartment offers approximately 900 sq. ft. with two bedrooms and one bathroom, providing excellent flexibility for extended family, rental income, or potential reintegration into the main home. Located near Holy Family Elementary, Paradise’s walking trail network, and Topsail Road amenities, this is a rare opportunity to own a well built home with executive appeal, income potential, and an exceptional ocean views. (id:56688)
Property details
Coordinates: [47.540399, -52.907279]
Rooms
| Basement | Bedroom Kitchen Bath (# pieces 1-6) Bedroom | 9.4x16.8 null 14.7x12.10 null 6.2x8.3 null 10.10x10.5 null |
| Second level | Bedroom Ensuite Bath (# pieces 1-6) Bedroom Bedroom Primary Bedroom | 22.6x17.10 null 5 PC null 4 PC null 12.10x11.0 null 14.7x12.4 null 18.11x17.8 null |
| Main level | Living room Family room Dining room Kitchen | 18.5x null 13.1x12.4 null 15.1x12.7 null 14.7x14.5 null |
Basic Calculator
First Mortgage: $735,920
Mortgage insurance premium: $0
Total Financing: $735,920
Rough closing fee (1.5%): ~ $13,799
Total downpayment with estimated closing fee: $197,779
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $5,269 | $63,228 |
| Gross rental income (income/principal ratio) | 0.573% | 6.873% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $1,150 | $13,800 |
| Vacancy | $264 | $3,162 |
| Management Fee | $422 | $5,059 |
| Expense / Income Ratio | 21.83% | 21.83% |
| Cash Flow | $3,435 | $41,220 |
| Net Operating Income (NOI) | $3,435 | $41,220 |
| Capitalization Rate | 0.37% | 4.48% |
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