I am currently looking at a duplex that the seller suited and renovated. Here is the pros and cons about this property
Pros:
- good condition
- illegal suite but really good work
- with conservative estimate on rental price I will have $150 net cash flow after debt servicing
- seller is willing to lease back the property right away with one year lease
- estimate repair cost is very low maybe just $3000 towards the window in 2-5years
- close to ring road
Cons:
- it is in older and less desirable neighborhood in calgary so I am not expecting much price appreciation within near future
- rental market may continue worsen in calgary
What do you think about this Propery?
Pros:
- good condition
- illegal suite but really good work
- with conservative estimate on rental price I will have $150 net cash flow after debt servicing
- seller is willing to lease back the property right away with one year lease
- estimate repair cost is very low maybe just $3000 towards the window in 2-5years
- close to ring road
Cons:
- it is in older and less desirable neighborhood in calgary so I am not expecting much price appreciation within near future
- rental market may continue worsen in calgary
What do you think about this Propery?