For sale · MLS® 1304881
16 Port Rexton Place
Paradise, NL, A1L4J9
List price
$539,900
About this propertyMLS® 1304881
Welcome to 16 Port Rexton Place! This beautifully designed 2025 bungalow offers modern living, a bright and inviting layout, and excellent income potential. The main level features two comfortable bedrooms, including a convenient ensuite, a welcoming living room, and a modern kitchen complete with all-new appliances. Downstairs, enjoy the added bonus of a rec room, along with a self-contained two-bedroom basement apartment—ideal for generating rental income or accommodating extended family. Located in a quiet setting close to schools, walking trails, and everyday amenities, this property is an excellent opportunity for first-time buyers, investors, or those seeking a multi generational home. Built in 2025, the home also remains covered under the 10 year Atlantic Home Warranty, offering added peace of mind. Whether you’re looking for a modern, low maintenance home or an opportunity to offset your mortgage with rental income, this property is well worth a look! Basement apt is currently occupied excellent tenants paying $1500 POU . As per sellers direction there will be no conveyance of any written offers prior to 5:00pm on November 2nd, offers are to remain open until 8:00pm on November 2nd. (id:56688)
Property details
Coordinates: [47.530597, -52.903226]
Rooms
| Basement | Bedroom Bedroom Living room Kitchen Recreation room | 10.0 x 9.9 null 11.0 x 11.8 null 11.10 x 13.3 null 11.3 x 12.0 null 13.8 x 11.7 null |
| Main level | Bedroom Primary Bedroom Kitchen Dining room Living room | 10.0 x 10.5 null 13.0 x 12.0 null 12.4 x 12.0 null 9.0 x 14.0 null 11.6 x 14.0 null |
Basic Calculator
First Mortgage: $431,920
Mortgage insurance premium: $0
Total Financing: $431,920
Rough closing fee (1.5%): ~ $8,099
Total downpayment with estimated closing fee: $116,079
Investment Calculator:
| Monthly | Yearly | |
|---|---|---|
| Gross Revenue | $2,447 | $29,364 |
| Gross rental income (income/principal ratio) | 0.453% | 5.439% |
| Mortgage | $0 | $0 |
| Monthly Expenses | $675 | $8,100 |
| Vacancy | $123 | $1,469 |
| Management Fee | $196 | $2,350 |
| Expense / Income Ratio | 27.58% | 27.58% |
| Cash Flow | $1,454 | $17,448 |
| Net Operating Income (NOI) | $1,454 | $17,448 |
| Capitalization Rate | 0.27% | 3.23% |
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