- Joined
- Apr 5, 2012
- Messages
- 6
Hi Rein Community
My wife and I are looking at purchasing our second property in Killarney neighbourhood in Edmonton . Its a suited house with a legalized suite below. House is completely renovated.
Purchase price is $424,000
Total Revenue $3575
Total cash flow $630 a month with consertative numbers
Rent for upper flow $1500 a month plus $300 flat rate for utilities
Rent for legalize suite $1275 a month plus $300 flat rate for utilities
Double Car Garage $200 a month
ROI is 30% first year with principal reduction, mortgage reduction, and cash flow
I have found the purchase price to be on the higher side but everything is brand new in the home windows, 2 furnaces, 2 brand new kitchens, brand new flooring, tons of curb apeal.
Pretty much stuck in analysis proalysis right now. What are your thoughts?
Thank you
A
My wife and I are looking at purchasing our second property in Killarney neighbourhood in Edmonton . Its a suited house with a legalized suite below. House is completely renovated.
Purchase price is $424,000
Total Revenue $3575
Total cash flow $630 a month with consertative numbers
Rent for upper flow $1500 a month plus $300 flat rate for utilities
Rent for legalize suite $1275 a month plus $300 flat rate for utilities
Double Car Garage $200 a month
ROI is 30% first year with principal reduction, mortgage reduction, and cash flow
I have found the purchase price to be on the higher side but everything is brand new in the home windows, 2 furnaces, 2 brand new kitchens, brand new flooring, tons of curb apeal.
Pretty much stuck in analysis proalysis right now. What are your thoughts?
Thank you
A