Posted by: Max Balan

Each week, Max breaks down the numbers for a great investment property in Ottawa

You can reach out to Max and the team any time too make a move, to get the numbers on a property you’re interested in, or get the latest stats on the Ottawa market.

2958 Fairlea Crescent Ottawa, a great opportunity for the right investor.

This four-bedroom, 2.5-bath condo in Heron Gate presents an excellent investment opportunity. Situated in a tranquil courtyard with a fully fenced south-facing backyard, the property offers a spacious and versatile living space. The main floor boasts an open-concept living and dining area, along with a powder room and a generously sized kitchen. The second level houses four well-proportioned bedrooms and a full bathroom. Additionally, the partially finished basement includes a den with laminate flooring, storage space, an extra full bathroom, and a convenient laundry room. This home’s layout and location make it an appealing prospect for those looking to invest in a residential property.

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Monthly financial breakdown

  • Monthly gross rental income: $2000

Acquisition costs

  • Down payment: $75,000

  • Home inspection: $500

  • Total acquisition cost: $81,900

Monthly operating expenses

  • Insurance: $208

  • Total monthly cost: $573

  • Taxes: $365

Debt services

  • Purchase price: $375,000

  • Mortgage amount: $300,000

  • Down payment (20%): $75,000

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I’m Max Balan, a realtor at Royal Lepage on the Nick Fundytus team, and this has been your deal of the week. Stay tuned for more exciting opportunities in the future!

Sources

  • Royal LePage: Listing Agent Nick Fundytus

  • Nick Fundytus team website: nickfundytus.ca

Financial Analysis

Download Max’s financial analysis of this property. 

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