Friday, March 1, 2013

Student Rental close to Algonquin College

Interestingly, there is only space for 10% of Ottawa's 60,000 students to live in on campus housing (CMHC)

Asking Price - $299,900
1 three plus one bedroom home perfect for a Algonquin student rental
Suggested rent - $500 per room x 4 = $2000 – annually $24,000

Expenses
Taxes – $2,534.95
Net Operating Income - $21,465.05

Mortgage payment (assuming 20% down, 3% interest, 25 year term) – $13,625.04- (monthly - $1,135.42)
Deposit needed - $59,980

Cash flow - $7,840.01
CAP RATE – 7.2%
Cash on cash return - 13.07%

To find the perfect student rental in Ottawa, contact the Bennett Property Shop Realty Brokerage for Ottawa real estate needs.

E and OE.
Proformas are for illustrative purposes only. Cash flows will vary during brief periods of vacancy

1 comment:

  1. Thanks for sharing this information, it is better to get in touch with a reliable agent when searching house for rent Ottawa.

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