Sale Price: 310k (assignment included)
ARV: 340K (depending on finish)
Closing Date: February 28th, 2022
Property Type: 2-Level Split
Cash Flow Opportunity $1,500 NET CASH FLOW POTENTIAL!
5Bedroom/3Bath
Size: 1100 Sq.ft
Year Built: 1979
Garage: Extended single car garage
Condo/HOA: None
Property Overall Condition: 8/10
Roof and siding is less than 5 years old
Buyer assumes the existing tenants with leases in place.
Property is under “InnKeepers Act” which allows the existing owners to operate a room rental for all 5 rooms.
https://www.qp.alberta.ca/documents/Acts/I02.pdf
Suggested Repairs & Value Ads
– Budget: 10-15K
– Light carpet and paint job with minor finishes around the kitchen area to optimize rehab budget
Show me the money!
10% down payment: 31K
Repairs: 15K
Loan Amount 279K
Gross Rent: 2,975
PITI: -1,500 approx.
Op. Expense: -400.00
Est. NCF: $1,075/month or 12,900/year
Over 28%+ Annualized Cash on cash!
*Buyer to purchase property subject to existing tenants with lease terms in place. Currently have 5 active leases, 2 long terms (One expires Apr 2022, other expires February 2023. Remaining 3 are on month-to-month.
To submit offers/arrange viewing/have specific questions, please contact Omar @ 587-602-1005 truenorthhomescanada@gmail.com
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Any Available Deal shown on this site is for marketing purposes only and any agreement to the price contained in any posting may be evidenced by a contract assignment. The principal in this transaction may close, double close, or may assign its interest at its own discretion. In the event of an assignment of equitable interest, the posted price includes an already agreed upon purchase price plus a fee to assign equitable interest.
True North Homes Canada (TNHC) buys homes directly from sellers to repair and resell/rent, sometimes assigns its equitable interest to another party, or may work other solutions in which it has equitable interest. TNHC (or its representatives) does not represent sellers or buyers, is not a licensed agent but a group of private real estate investors. Any use or mention of the word “Sale” by TNHC or this website is referring to either a property TNHC owns, or a sale of equitable interest in a property TNHC has under a legally executed contract. Website postings and other marketing avenues often use vague or limited descriptors such as “sale”, “available”, “pending”, or similar generalized terms. TNHC use of this terminology is solely in the context of having equitable interest or ownership in real estate. BUYERS MUST ALWAYS DO THEIR OWN DUE DILIGENCE.