For sale · MLS® 1304830
69 Magee Drive
Paradise, NL, A1L0K3
List price
$569,900
About this propertyMLS® 1304830
Welcome to this well-appointed 2-apartment home ideally located in a family-friendly neighbourhood in Paradise, just steps from the community playground & minutes from schools, walking trails, shopping, and a variety of amenities. The main unit offers a bright, open-concept layout with a spacious living room & dining area, highlighted by a custom feature wall with electric fireplace, mini-split, crown moulding, & hardwood flooring throughout the main living areas. The white kitchen provides ample cabinetry, backsplash, island, & stainless steel appliances. The spacious primary bedroom features a walk-in closet & ensuite, while two additional bedrooms & a full main bathroom complete the main level. The registered basement apartment offers a comfortable 1-bedroom layout with an open-concept living space, providing excellent additional living space or income potential. The property also features an in-house garage & partially fenced backyard, making this a fantastic opportunity for families, investors, or those looking for added flexibility in a desirable Paradise location. (id:56688)
Property details
Coordinates: [47.539708, -52.904104]
Rooms
| Basement | Bath (# pieces 1-6) Not known Not known Not known | 4pc 11.6 x 10.0 null 14.10 x 12.6 null 10.8 x 12.6 null |
| Main level | Bath (# pieces 1-6) Bedroom Bedroom Ensuite Primary Bedroom Kitchen Living room | 4pc 9.0 x 12.0 null 9.0 x 12.0 null 4 pc 12.0 x 14.0 null 18.10 x 14.5 null 11.7 x 11.7 null |
Basic Calculator
First Mortgage: $455,920
Mortgage insurance premium: $0
Total Financing: $455,920
Rough closing fee (1.5%): ~ $8,549
Total downpayment with estimated closing fee: $122,529
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,288 | $27,456 |
| Gross rental income (income/principal ratio) | 0.401% | 4.818% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $713 | $8,556 |
| Vacancy | $115 | $1,373 |
| Management Fee | $184 | $2,197 |
| Expense / Income Ratio | 31.16% | 31.16% |
| Cash Flow | $1,278 | $15,336 |
| Net Operating Income (NOI) | $1,278 | $15,336 |
| Capitalization Rate | 0.22% | 2.69% |
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