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$980,000
Available - For Sale
Listing ID: S10429453
Are you looking for a way to beat the market? Interest rates are continually dropping. Unlike the majority of other properties on the market, this one actually cash flows. This is a phenomenal opportunity to own a piece of real estate with not 1,not 2, but 6 sources of income! This property features 6 residential apartment units, a generously sized lot and healthy income with room for improvement. Net income is $5,531.93 per month. Mortgage estimated at $4,253.80. That is $1,278.13 positive cash flow every month. These calculations are based on a 3.99% interest rate and a 20% down payment. As rates drop the cash flow will increase. The units are currently renting at an average of $1,130 per month, well below market value. With the opportunity to renovate as tenants vacate these units are estimated to lease out at an average of $1,650 per month. That would increase cash flow by an astounding $3,120.00 per month! In total the net cash flow would be $4,398.13. Once this process is completed, there is the opportunity to refinance based on the increased cash flow. This would allow you to potentially pull equity from this property to acquire more real estate and continue growing. Investing in real property is one of the best strategies to protect your wealth and hedge against inflation. Do not let this opportunity slip through your fingers. With rates dropping this property only becomes more and more attractive every day. This information is included for example only and is not meant to be taken as financial, legal, or tax advice.We invite you to seek the advice of your mortgage broker, accountant, lawyer, and contractor to create a plan that works best for you. Minimum of 48 hours notice before all showings.
Price $980,000
Taxes: $3,666.24
Tax Type: Annual
Occupancy by: Tenant
Address: 6501 Highway 93 , Tay, L0L 1P0, Ontario
Postal Code: L0L 1P0
Province/State: Ontario
Lot Size: 82.51 x 187.01 (Feet)
Directions/Cross Streets: 27 & 93
Zoning: R1
Category: Apartment
Use: Apts-6 To 12 Units
Building Percentage: Y
Total Area: 4,000
Total Area Code:  Sq Ft
Financial Statement: Y
Franchise: N
Taxes Expense: $3666
Insurance Expense: $4855
Maintenance: 2,845
 Hydro Expense:  $3611
Gross Income/Sales: $81360
Net Income Before Debt: $66383
Year Expenses: 2023
Expenses Actual/Estimated: $Act
Heat Type: Gas Forced Air Open
Central Air Conditioning: Part
Water: Municipal
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Asking Price: $ Heating: $ /Year  
Interest Rate: % Condo Fee: $ /Year
Taxes:   $ /Year Other Debt: $ /Year  
Amortization:     Years GDS: %
    TDS: %
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CMHC/GE $ $ $ $
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Total Payment $ $ $ $
Income Required $ $ $ $

This chart is for demonstration purposes only. Always consult a professional financial advisor before making personal financial decisions.

Although the information displayed is believed to be accurate, no warranties or representations are made of any kind.
IPRO REALTY LTD.

6501 Highway 93 , Tay, L0L 1P0, Ontario


 
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Type: Com - Investment
Area: Simcoe
Municipality: Tay
Neighbourhood: Waverley
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Lot Size: 82.51 x 187.01(Feet)
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Tax: $3,666.24
Maintenance Fee: $2,845
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