Cashflowing property in Niagara-on-the-Lake

SASREIG

Inspired Forum Member
REIN Member
Sep 17, 2012
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#1
Hello REIN colleagues.

Three weeks ago we decided to sell one of our 11 rental properties in NOTL. I sent an email to a dozen of my investor friernds and the house was sold in a day.
Now we have another one for sale.
This time no rreply from my colleagues so I'm posting on REIN for a few days because if nothing happens by next Monday I'll call a realtor I know can sell that place in a couple of days.
It's that hot!
Address is 33 Keith Crescent. The house is one unit in a quad. Freehold.
Rented for one more year at $1650 + utilities.
House completed in July 2014, so pretty new, comes with custom blinds and 6 high quality appliances.
Asking $359,000.
Taxes are about $2650 a year.
It is rented for $1650, insurance is $100, taxes is $235, mortgage could be about $1150, plus $115 for hot water heater and AC rental, total cost $1600. So it cashflows $50 a month...until you raise the rent...But the beauty is that houses value has gone up over 20% since they were completed in July 2014...
It's a 3 bedroom, 2.5 baths, unfinished basement, but with many extras: backsplash, granite counter tops, 6 (stainless steel) appliances, pot lights, and much more.
Let me know if you are interested and I'll supply way more information .
I have a couple photos but the files are too large. I'll gladly send them to the interested parties.
Talk soon.
 
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