About this propertyMLS® 1304368
An excellent opportunity to own a fully renovated registered 2-apartment home on an oversized lot in one of Goulds' most sought-after residential areas! Situated on an impressive 100' x 215' lot along a quiet, private street, this property presents a rare combination of space, privacy, rental income potential, and long-term value. Fully renovated in 2022, with new roof shingles completed in 2023 and a mini-split heat pump providing efficient heating and air conditioning, the home offers modern comfort with plenty of opportunity for the future. The main unit features three bedrooms and a basement rec room, providing comfortable living space for families or those looking for a little extra room. The spacious 2-bedroom above-ground basement apartment offers an excellent opportunity to generate rental income while maintaining flexibility for a variety of living arrangements. Whether you're looking to expand your investment portfolio, offset your mortgage with rental income, or occupy either unit while renting the other, this property can accommodate your needs. Outside is where the potential really stands out. The expansive backyard offers exceptional privacy, with greenspace bordering the rear of the property, plenty of parking, and convenient rear yard access. There's ample room to enjoy the outdoors, accommodate recreational vehicles, or explore future improvements to suit your needs. Located just minutes from schools, shopping, recreation, walking trails, and everyday amenities, this property combines the convenience of an established neighbourhood with the space and privacy that can be increasingly difficult to find. An attractive opportunity for investors and homeowners alike, offering rental income potential, flexible living arrangements, and room to grow for years to come! (id:56688)
Property details
Coordinates: [47.473259, -52.776742]
Rooms
| Basement | Bedroom Bedroom Bath (# pieces 1-6) Laundry room Recreation room Family room Kitchen | 10.9x12.2 null 9.1x8.9 null 5.2x8.9 null 5.10x7.1 null 18.7x11.3 null 11.3x15.0 null 12.3x12.2 null |
| Main level | Bath (# pieces 1-6) Bedroom Bedroom Living room Kitchen Dining nook | 8.0x8.10 null 8.10x10.0 null 8.11x11.0 null 12.9x15.3 null 11.0x11.7 null 8.4x10.11 null |
Basic Calculator
First Mortgage: $395,600
Mortgage insurance premium: $0
Total Financing: $395,600
Rough closing fee (1.5%): ~ $7,418
Total downpayment with estimated closing fee: $106,318
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,552 | $30,624 |
| Gross rental income (income/principal ratio) | 0.516% | 6.193% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $619 | $7,428 |
| Vacancy | $128 | $1,532 |
| Management Fee | $205 | $2,450 |
| Expense / Income Ratio | 24.26% | 24.26% |
| Cash Flow | $1,602 | $19,224 |
| Net Operating Income (NOI) | $1,602 | $19,224 |
| Capitalization Rate | 0.32% | 3.89% |
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