Russell - 601 - Village of Russell
Russell - 601 - Village of Russell
Terminated
Flooring: Tile, This 13-yr-old home has two units, a full 3-bed, 3 bath house plus a legal 2-bed basement apartment. Among the highest earning dual-unit homes on market in recent memory. The main flagship unit is the perfect fit for a family. HOMEOWNERS: Income from basement unit pays for up to 82% of the mortgage; remaining payment is approx. $339. INVESTORS: Rents sum to $2890/mo, $35k/yr. Tenants pay all utilities. Your expenses are simply tax and insurance. Resulting net income is $29,412. At 1.85% over 30yrs the mortgage is $1,883 and cash flow is a stellar $600/mo. LONG-TERM: over 30yrs this property will carry itself plus cash flow $210k even without rent increases. At 5% appreciation/yr this property could be worth $2.8M when paid off in 30yrs. That’s 15x the avg. Canadian’s retire
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* Values are estimates only and not a guarantee of lending or affordability.