Saturday, March 24, 2012

Bennett Exclusive - Yves Condo 4-plex

Opportunity to own four unit building in rapidly expanding Rockland, Ontario.  This property is only 4 years old.  Each unit is a two bedroom, one bathroom with a gas fireplace.  These units have individual title, meaning in the future you can sell them as individual units or as a complete building.  Check out the numbers below and contact me for your personal viewing.

Purchase Price $699,000.00

Down Payment $174,750.00
Financed Amount $524,250.00

Monthly Expenses:
Mortgage Payment $2,028.85
Condo (snow/lawn) $100.00
Water $75.00
Insurance (approx) $175.00
Taxes (estimate) $750.00
Total Monthly Expense $3,128.85

Rent $3,925.00

Monthly Cash Flow $796.15

Approx Return Summary
annual cash flow $95,538.30
principal reduction $133,698.54
capital appreciation (2.5% growth) $195,779.10
TOTAL PROJECTED RETURN $425,015.94

RATE OF RETURN 23.38%


*** based upon 2.35%, 30 year mortgage

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