This week's investment tip offers 4 in 1 property. Well maintained quality Side by Side duplex in a great location of Winston Heights/Mountview – a superb investment property which is probably the lowest priced 4 suites duplex in North Calgary.
The two non conforming lower 2 bedroom suites feature separate entry, huge windows that let in an abundance of natural light, 4 piece bath and separate laundry area. 2 bedroom suites up are in good condition and feature separate laundry with newer washer and dryer.
Suites up are rented for $850 per month (normal rate in the area for similar suite is around $1000); suites down are rented for $750 per month. Owner pays all utilities.
This property is located in Winston Heights-Mountview, which is a low density residential community located along the west escarpment of the Nose Creek Valley and has good access to the downtown Calgary, via Edmonton Trail and also is close proximity to Nose Creek Park, Elks Golf Club and the pathway system.
(No sign on property, Please do not disturb tenants)
Cash Flow analysis
3501 5 ST NE, Calgary AB
Duplex, 4 two bedroom suites
- List Price $589,000
- Down Payment $117,800
- New Loan Amount $471,200 ($2,478 per month)
Annual Operating Expenses
- Maintenance $1,000
- Taxes $3,757
- Property management $1,200
- Insurance $1,500
- Market rent total $3,700 (2x$1000+2x$850)
- Gross scheduled Income $44,400 Market Rent .
- Vacancy -$2,200
- Gross Operating Income $42,180
- Less Annual Operating Expenses $7,457
- Net Operating Income $34,723
- Annual Loan Payments $29,743
- Pre tax cash flow (cash on cash) $4,980
- Equity Build Up/Principal Pay down $5,571
- Total Return $10,551