Telephone Email278 Lanark Drive, Paradise, Newfoundland & Labrador, Canada A1L0W5

For sale · MLS® 1304631

278 Lanark Drive

Paradise, NL, A1L0W5

4 bd4 ba2,464 sqftBuilt 2026

List price

$649,900

278 Lanark Drive Paradise Newfoundland & Labrador Canada A1L0W5, for Sale, residential, Haris Barki, Keller Williams Platinum Realty

Presented by

Haris Barki

416-873-4676

haris@barki.co

REALTOR® · Keller Williams Platinum Realty

About this propertyMLS® 1304631

Welcome to 278 Lanark Drive in Paradise, a beautiful two-apartment home situated on an oversized lot in a highly desirable area. This well-appointed property offers a stylish exterior featuring striking black windows and doors, creating a modern and inviting curb appeal. The main unit features three spacious bedrooms and two and a half bathrooms, providing plenty of room for comfortable family living. The fully developed basement apartment offers an additional one-bedroom, one-bathroom living space, making it an excellent opportunity for rental income, extended family, or added flexibility. Located in a sought-after neighbourhood close to schools, amenities, recreation, and all that Paradise has to offer, this property combines modern style, generous outdoor space, and excellent versatility. (id:56688)

Property details

MLS®1304631

Listing ID30426415

Address278 Lanark Drive, Paradise, Newfoundland & Labrador, Canada A1L0W5

StatusActive

Last updated9 days ago ( Oct 21, 2026 )

Year Built2026

Property TypeSingle Family

Architectural Style2 Level

Structure TypeTwo Apartment House

Ownership TypeFreehold

Beds4

Baths4

1/2 Baths1

HeatingElectric

SewerMunicipal sewage system

FlooringLaminate, Mixed Flooring

Living Area Total2,464 square feet

Price per sq ft: $264

Tax Annual Amount$0

GarageNo

Attached GarageNo

CarportNo

Open ParkingNo

WaterfrontNo

PoolNo

Water SourceMunicipal water

RoofAsphalt shingle, Unknown

Foundation DetailsConcrete

HeatingElectric

FlooringLaminate, Mixed Flooring

Exterior FeaturesVinyl siding

Common InterestFreehold

Number of photos available1

Rurl
Coordinates: [47.536349, -52.881428]

Rooms

Basement	Bath (# pieces 1-6) Not known Not known Not known	4 PC null 10.10 x 12.4 null 15.6 x 11 null 11.10 x 15.1 null
Second level	Bath (# pieces 1-6) Bedroom Bedroom Ensuite Primary Bedroom	4 PC null 11.10 x 10.6 null 11.10 x 10.10 null 3 PC null 14.4 x 13.4 null
Main level	Bath (# pieces 1-6) Living room Kitchen Dining nook	2 PC null 14.4 x 13.3 null 15.6 x 14.4 null 11.10 x 11.2 null

Basic Calculator

Principal Amount ($):

Annual Interest Rate (%):

Loan Term (Years):

Down Payment ($):

Percent Down (%):

First Mortgage: $519,920

Mortgage insurance premium: $0

Total Financing: $519,920

Rough closing fee (1.5%): ~ $9,749

Total downpayment with estimated closing fee: $139,729

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Investment Calculator:

Monthly Income (Initially estimated at $1.1 per sqft):

Monthly Expense (includes taxes, insurance, utilities, maintenance etc, excluding mortgage payment) (initally estimated at 1.5% per year of principal):

Vacancy Rate (%):

Management Fee (%):

Total cost of initial renovation ($):

	Monthly	Yearly
Gross Revenue	$2,711	$32,532
Gross rental income (income/principal ratio)	0.417%	5.006%
Mortgage	$0	$0
Monthly Expenses	$813	$9,756
Vacancy	$136	$1,627
Management Fee	$217	$2,603
Expense / Income Ratio	29.99%	29.99%
Cash Flow	$1,546	$18,552
Net Operating Income (NOI)	$1,546	$18,552
Capitalization Rate	0.24%	2.85%

Capitalization Rate: 2.85%

After-repair value (ARV) (This is a rule for purchasing and flipping distressed real estate for a profit, which states that the purchase price should be less than 70% of after-repair value (ARV) minus repair costs (rehab).): $928,429

Neighbourhood scores

Explore Paradise on Walk Score

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