Great investment with very little capital needed. Average 2 bedroom rent in Dover is about $1,000.00 per month. Total monthly expense on this 2 bedroom condo is $781.46 including interest payment ($356.26), condo fee ($294.00), property tax ($81.20) and maintenance reserve ($50.00). Considering the asking price of $138,500, it has more than solid 8.54% Rate of Return for $30000 initial investment!
This 2 bedroom 816 SqFt suite built in 1995 in Pointe of View Dover is conveniently located 10 minutes away from downtown, with easy access to Deerfoot and a short walk to bus stations, the LRT and grocery stores. It is professionally managed by an established condo management company. Although the unit is partially located below grade, the large windows and sliding patio doors allow the sunshine to pour in. Insuite laundry and a spacious storage room add value and convenience. A fresh coat of paint, new floor coverings and some elbow grease will work wonders towards helping this suite reach its full potential.
Definitely, this property has the best value in Dover Glen, but the offer won’t last forever. Contact us for more info.