I am going to be asking $375,000 for this income property - with $38,000 per year revenue. Is it attractive to an investor?
garyyeung Hi Rickson9,
What cap rate do you look for?
kirkkimberley Hello Gary,
I am getting $1600 for the basement suite, $1800 for the main level, and $1000 for the upper.
I have been in property management for a while, and am able to yield manage the unit to their full potential.
With so much demand, this sort of explains why you can separate a house into 3 suites like this.
What the heck is going on in Lloydminster? Must be oil.
kirkkimberleyThanks for your reply. I am thinking the house is worth $375k, based on a 10% down on a mortgage, giving a 100% return on your investment in the first year.
RebeccaBryanI agree with Brett. ....but as well have no idea why you would consider selling a property that cash flows such as this.