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.
Links
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
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