For sale · MLS® 1304850
35 Main Road
Chance Cove, NL, A0B1K0
List price
$239,900
About this propertyMLS® 1304850
Discover an exciting investment opportunity in the picturesque seaside community of Chance Cove, Trinity Bay! Located just steps from the ocean, this versatile three-unit property offers the perfect combination of coastal charm, numerous updates, and excellent income-generating potential. Featuring one two-bedroom unit and two one-bedroom units, the property provides flexibility for a variety of rental arrangements. One unit is currently occupied by a long-term tenant, while the remaining two offer exciting potential for short-term vacation rentals, Airbnb-style accommodations, or long-term leasing. Designed with convenience and independent living in mind, each unit features its own private entrance, separate electrical meter, and in-unit laundry, making the property appealing for investors seeking flexibility and simplified rental management. Numerous updates completed in 2020/2021 include siding, roof covering, windows, exterior doors, and bathrooms. Updated light fixtures throughout all three units add to the property's overall appeal. Enjoy incredible ocean views from the deck, where you can take in the beauty of Newfoundland's rugged coastline and peaceful seaside surroundings. This scenic setting adds to the property's appeal as a potential vacation rental, offering guests the opportunity to experience the natural beauty and charm of coastal Newfoundland. Nestled along the shores of Trinity Bay, Chance Cove is known for its spectacular coastal scenery, rugged shoreline, and popular coastal hiking trail. With its peaceful outport atmosphere and beautiful natural surroundings, the community offers an appealing setting for visitors looking to experience the charm and beauty of coastal Newfoundland. Whether you're looking to expand your investment portfolio, explore the vacation rental market, or have your own coastal getaway with the added benefit of rental income, this unique property offers flexibility and exciting possibilities in a beautiful seaside setting. (id:56688)
Specifications
Property details
Room by room
Rooms
| Basement | Bath (# pieces 1-6) Living room Kitchen Bedroom Bedroom | 10.1 x 5 10.11 x 17.1 10.11 x 8.3 10.1 x 9.8 10.1 x 9.9 |
| Other | Bath (# pieces 1-6) Living room Kitchen Bedroom Bedroom | 10.5 x 5 10.11 x 13.8 10.11 x 12 9.11 x 10.1 10.1 x 9.9 |
| Main level | Kitchen Bath (# pieces 1-6) Dining room Living room Bedroom Bedroom | 11.10 x 10.1 11.7 x 7.11 11.10 x 13.1 11.10 x 15.10 11.7 x 14.11 11.7 x 11.6 |
The essentials
Location, air, flood & taxes
Elevation
26 m above sea level
Air quality now
AQHI 1.82 · Low risk
St. John's station · updated 2:00 a.m.
Property tax
$1,306 / year
≈ $109 / month · assessment year 2026
Plan ahead
Calculators & neighbourhood
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Plan ahead
Mortgage & investment calculator
Estimated monthly payment
$109/mo
Principal & interest $0 + property tax $109 per month
Financing breakdown
Rental math
Investment calculator
Monthly cash flow
$-299
NOI / month
$-299
Cap rate
-1.50%
Gross yield
0.00%
| Line item | Monthly | Yearly |
|---|---|---|
| Gross rent | $0 | $0 |
| Mortgage | $0 | $0 |
| Property tax | $109 | $1,306 |
| Expenses | $191 | $2,292 |
| Vacancy | $0 | $0 |
| Management | $0 | $0 |
| Cash flow | $-299 | $-3,588 |
| NOI | $-299 | $-3,588 |
Flip rule of thumb: buy at ≤ 70% of ARV minus repair costs.
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Keller Williams Platinum Realty
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