Is this Legal Up Down Duplex rented at the right level?

[ProRealEstateInvest]

Legal Up & Down Duplex


A Legal Up & Down Duplex located in a Very Quite Area in the S.W. Glenbrook. Very Close to Shopping, Transportation and Schools, along with a Doctors Clinic down the Street. This Duplex is Always Leased. The Upper 3 Bedroom has Hardwood Floors throughout the Upper Level, With the Exclusive use of the 2 Car Garage, comes with Stainless Steel Fridge, Oven/Stove, Microwave, Dishwasher with the Free use of the downstairs Washer & Dryer. This 3 bedroom rents for $1500 per Month. Excluding Utilities which the Tenants pays Separately. The 2 Bedroom lower level which mainly is Carpeted, comes with a Fridge, Stove/Oven, Hood Fan and the Free use of the same level of the Washer & Dryer, rents for $1100/Month, Excluding Utilities which the Tenant pays Separately. With the total revenue of $2600 per month and a 20% Down Deposit for a Rental Duplex and at a 3% Mortgage, you should without a problem be able to pay your Taxes and your Mortgage every year without putting any Extra Money into this Renovated Duplex


If you want to see this excellent opportunity, let's do this together




As always,

Have a Great Day



Philip (Phil) Caswell

Sales Associate

Cell: 403-875-0614

E-mail: P[email protected]

[email protected]

HomeLife Central Real Estate Services

1, 7750 RANCHVIEW DRIVE N.W.

CALGARY, AB T3G 1Y9

Office: 403-375-0002

Fax: 403-776-7998

 

[invst4profit]

No the rents are not at the right level.. Based on the asking price the rents are WAY too low although they may be at market. In which case it's the price that is wrong.



With a purchase price of $600,000, 3%, 30 year (which I don't think is even available anymore) and paying yourself the same 3% on your cash down payment your monthly debt repayment alone is $2523.month. That leaves basically 0 for maintenance and all other expenses, equivalent to about $1000/month negative cash flow.



If you were genuinely looking for a answer to your question I would suggest you abandon this listing.

 

[Rickson9]

Terrible numbers. Feed it to the newbies. They'll buy anything.

 

[invst4profit]

If a REIN member buys it they deserve to be striped of there membership.