$980,000
( $245.00Per Sq Foot )
 $5,261 forsale estimated payment Sourced by Back At You

6501 Highway 93 , Elmvale, ON L0L

Elmvale, ON L0L

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Description

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.

Details

MlsS10429453
Listing TypeFor Sale
SubtypeResale
StatusNew
Days On Site23
Listing Provided ByIPRO REALTY LTD. | Not Provided

Features

Sq Feet4,000
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Toronto Real Estate Board.

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Listings Checked: 53 seconds ago
StateON
CountySimcoe
CityElmvale
Zip CodeL0L
AreaWaverley
Listing VS Median (in L0L)
Price:
$980,000
low | high
Med:
$849,000
63.367346938776% of Average
SqFt:
4,000
low | high
Med:
4,000
50% of Average
$ / SqFt:
$245
low | high
Med:
$212
63.367346938776% of Average
On Site:
23
low | high
Med:
22.000000
100% of Average
Sourced by Back At You
Listing Updated: November 20, 2024 at 7:18:30 AM PST