Calgary - Motivated Vendor

[UTCVenturesLtd]

Shhhh... "motivated vendor"
Do the numbers work on this property? I was quoted from one source saying the rent would bring in $1700 a month easy.
http://www.mls.ca/PropertyDetails.aspx?vd=...pertyID=6913402

 

[invst4profit]

$349900 at say 5.5% is $1986/month
Expences 50% of income: $1700/2 = $850
$1986-$850= $1136

Potential loss of $1136 per month
Bad deal.

 

[MonteDobson]

Looks like a decent enough house, but what are actual rents for that area? What would you expect to pay for it (ie. $300-325K)?

One way to make it cashflow is to put more down, extend the amortization, or get an interest only LOC mortgage.

Regards,