$859,900
About this House
Incredible cashflow opportunity in Manordale (Nepean) near Algonquin College! Fully tenanted at $6,000 monthly income and a 6.5% CAP RATE. Fully renovated and SDU added in 2020. 8 Bedrooms and 4 Full Bathrooms split between 2 LEGAL separate dwelling units in a sprawling bungalow. Exceeds 2400sqft as per MPAC. Gross income $6,000 monthly or $72,000 annually. Incredibly efficient boiler heating and low taxes result in expenses adding up to only ~$13,610. NET OPERATING INCOME $58,390. Monthly CASH FLOW approx. $1,000 even at current interest rates! Prove your investment acumen and show other investors that you CAN cashflow a renovated Ottawa property $1,000/month at current rates. If rates go down to 3% cashflow becomes $2,000+. With growing rental income you could cashflow over $1 million during a 30-year ownership. At only 4% value growth per year, resale could be approx. $2.92 million. Attached garage holds opportunity for additional income. Sold furnished. (id:52909)
Listed by KELLER WILLIAMS INTEGRIT.
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Features
- MLS®: 1387634
- Type: House
- Bedrooms: 8
- Bathrooms: 4
- Full Baths: 4
- Half Baths: 0
- Parking: 3 (Attached Garage, Surfaced)
- Storeys: 1 storeys
- Year Built: 1967
- Construction: Poured Concrete
Neighbourhood Intelligence by HoodQ
Here is a brief summary of some amenities close to this listing (151 Knoxdale Road, Manordale, Ottawa), such as schools, parks & recreation centres and public transit.
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