Fort saskatchewan (good or bad?)
- Thread starter alexh
- Start date
- Joined
- Aug 30, 2007
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- 190
QUOTE (alexh @ Aug 28 2008, 09:46 PM) Purchasing a duplex in fort saskatchewan before dec. 2008
(600K as investment)
Is there long term potential here?
Just would like to confirm that this is a good idea.
thanks everyone
Hi Alex,
How about a little more detail?
Send property purchase price, rents, size/type, etc.. If you can do a property analysis sheet (Cashflow Zone) then we can give you some input. Specifics make the deal.
Fort Sask. has decent long term potential. But, I doubt you`re buying a $600K duplex there, if you are you better run those numbers a lot tighter!
(600K as investment)
Is there long term potential here?
Just would like to confirm that this is a good idea.
thanks everyone
Hi Alex,
How about a little more detail?
Send property purchase price, rents, size/type, etc.. If you can do a property analysis sheet (Cashflow Zone) then we can give you some input. Specifics make the deal.
Fort Sask. has decent long term potential. But, I doubt you`re buying a $600K duplex there, if you are you better run those numbers a lot tighter!
QUOTE (GSI @ Aug 29 2008, 12:46 AM) Hi Alex,
How about a little more detail?
Send property purchase price, rents, size/type, etc.. If you can do a property analysis sheet (Cashflow Zone) then we can give you some input. Specifics make the deal.
Fort Sask. has decent long term potential. But, I doubt you`re buying a $600K duplex there, if you are you better run those numbers a lot tighter!
Thanks alot For the reply. Im anxious to hear your input.
This is my first time buying, and im familiar with only so many real estate terms.
580k for a semi-detached (not duplex) It is 2 houses attached. They call them ssquared. 1400 sq feet each side, 3 bedrooms, undevelopped basement, new construction. (290k each side)
Below is a rough draft, cash flow analysis
I did not include management fees, as i will do them myself and charge utilities to tenants.
Neither did i consider repairs for the moment, Since its all new construction.
Type of property semi detached
purchase price 580,000
down payment 29,000 (5%)
Financing mortgage
loan type 1st mortgage
principle 551,000
interest rate 4.25
terms (year) 40 years
payments per year 12
terms (month) 480 months
monthly payment 2,389
________________________________________
annual debt service 28,670.97
Expenses
heat(gas, oil, electric, hot water)
electricity
water/sewer
taxes 2,200
insurance 300
property manager
vacancy allowance 1,800
accounting/legal
repairs & maintenance
supplies
landscaping
snow removal
_________________________________
Annual expenses 4,300
Gross income yearly 36,000
Gross income monthly 3,000
operating expenses 4,300
Annual operating income 36,000
(-)Annual operating expenses 4,300
(-)Annual debt service 28,670.97
_____________________________________________________
cash flow (year) 3,029.03
How about a little more detail?
Send property purchase price, rents, size/type, etc.. If you can do a property analysis sheet (Cashflow Zone) then we can give you some input. Specifics make the deal.
Fort Sask. has decent long term potential. But, I doubt you`re buying a $600K duplex there, if you are you better run those numbers a lot tighter!
Thanks alot For the reply. Im anxious to hear your input.
This is my first time buying, and im familiar with only so many real estate terms.
580k for a semi-detached (not duplex) It is 2 houses attached. They call them ssquared. 1400 sq feet each side, 3 bedrooms, undevelopped basement, new construction. (290k each side)
Below is a rough draft, cash flow analysis
I did not include management fees, as i will do them myself and charge utilities to tenants.
Neither did i consider repairs for the moment, Since its all new construction.
Type of property semi detached
purchase price 580,000
down payment 29,000 (5%)
Financing mortgage
loan type 1st mortgage
principle 551,000
interest rate 4.25
terms (year) 40 years
payments per year 12
terms (month) 480 months
monthly payment 2,389
________________________________________
annual debt service 28,670.97
Expenses
heat(gas, oil, electric, hot water)
electricity
water/sewer
taxes 2,200
insurance 300
property manager
vacancy allowance 1,800
accounting/legal
repairs & maintenance
supplies
landscaping
snow removal
_________________________________
Annual expenses 4,300
Gross income yearly 36,000
Gross income monthly 3,000
operating expenses 4,300
Annual operating income 36,000
(-)Annual operating expenses 4,300
(-)Annual debt service 28,670.97
_____________________________________________________
cash flow (year) 3,029.03