For sale · MLS® 1304717
51 Cherokee Drive
St. John's, NL, A1A5Z8
List price
$399,900
About this propertyMLS® 1304717
Located in the highly desirable neighbourhood of Airport Heights, this well-maintained two-apartment home offers an excellent combination of comfortable living, convenience, and income potential. Ideally situated close to Marine Institute, CNA, MUN, shopping, and public transit, this property is perfectly suited for families, first-time buyers looking to offset their mortgage, or investors seeking a great addition to their portfolio. The main unit has been freshly painted throughout and features three spacious bedrooms and two full bathrooms. The bright, spacious eat-in kitchen is equipped with stainless steel appliances, making it an ideal space for everyday living and entertaining. The primary bedroom offers the added convenience of a walk-in closet and private ensuite. Additional living space includes a rec room and laundry room in the basement. Recent updates include a new hot water tank this year, replacement of the majority of appliances, and new carpet on the stairs. Enjoy outdoor living on the 10' x 12' rear deck conveniently located off the kitchen. The fully developed basement features a self-contained two-bedroom apartment with open-concept living, and a full bathroom. Currently occupied by a long-term tenant who wishes to remain, the apartment is on a month-to-month lease and offers an excellent opportunity for rental income to help offset mortgage payments. Outside, the property continues to impress with a fully fenced rear yard, an 8' x 10' baby barn for additional storage, a driveway accommodating up to five vehicles, and rear yard access. Whether you're searching for a family home with the added benefit of rental income or a solid investment opportunity in a fantastic location, this versatile two-apartment property in Airport Heights is one you won't want to miss! As per Seller Direction, there will be no conveyance of offers prior to 5:00 p.m. on October 28th. All offers are to remain open for consideration until 9:00 p.m. on October 28th. (id:56688)
Property details
Coordinates: [47.601947, -52.749535]
Rooms
| Basement | Bedroom Living room Recreation room Laundry room Primary Bedroom Kitchen | 9.60 X 9.00 null 11.60 X 10.90 null 13.40 X 11.90 null 7.60 X 5.90 null 11.80 X 11.00 null 15.40 X 10.20 null |
| Main level | Kitchen Bedroom Bedroom Primary Bedroom Living room | 18.20 X 11.30 null 10.00 X 9.00 null 10.00 X 9.20 null 11.90 X 11.40 null 16.60 X 11.00 null |
Basic Calculator
First Mortgage: $319,920
Mortgage insurance premium: $0
Total Financing: $319,920
Rough closing fee (1.5%): ~ $5,999
Total downpayment with estimated closing fee: $85,979
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,358 | $28,296 |
| Gross rental income (income/principal ratio) | 0.590% | 7.076% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $500 | $6,000 |
| Vacancy | $118 | $1,415 |
| Management Fee | $189 | $2,264 |
| Expense / Income Ratio | 21.20% | 21.20% |
| Cash Flow | $1,552 | $18,624 |
| Net Operating Income (NOI) | $1,552 | $18,624 |
| Capitalization Rate | 0.39% | 4.66% |
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