Ottawa Real Estate Blog

Sept. 14, 2019

New Listing at 1079 Avignon Court, Orleans Wood

3 bedroom house for sale in Orleans Wood, Orleans

Come see 1079 Avignon Court in Orleans, it's coming to the Ottawa MLS on Monday 16th September. Great location with a private backyard.

Have a look at the immediate neighbourhood

Use the Google Streetview below to navigate around the listing at 1079 Avignon.

Sept. 6, 2019

Two Sandy Hill Income Properties, sold recently

Comparing 2 Sandy Hill Income Properties that Sold in Aug. 2019

Both of the properties in this months video are from the same neighbourhood and both of them had 4 apartments in them. You can see that some of the numbers are very different.

The first building shows a Cap Rate of 2.6% while the other has a 4% Cap. The cash flow on the first is negative 10,000 per year, while the second property has a positive cash flow of $6000. This is based on both buyers putting down a 35% downpayment.

Have a look at all of the Income Properties currently for sale

July 29, 2019

920 Longfields Drive, Barrhaven is for Sale

920 Longfields Drive in Barrhaven is coming to Ottawa MLS on Friday 2nd August 2019.

MLS # 1161865 will be priced at $549,900 and it's a very well cared for 4 bedroom family house, it is the Richcraft Vista model build in 2010 approximately. Pics getting done later this week, More photos for 920 Longfields.

Plenty of natural light in this 4 bedroom family home. Richcraft Vista model 2,165 sq. ft according to builder plans. Upgraded wood oak staircase.

The main level features maple hardwood floors in living, dining, and family rooms & porcelain tile in the kitchen & baths. Pot lights throughout main floor. Bright kitchen with lots of natural light and upgraded cabinets. Granite on both the counter tops and island.

Walk out to the back yard from the eating area. Keep an eye on the kids from the kitchen overlooking the family room which features a gas fireplace and soaring 20 ceiling. There's a convenient powder room and laundry room on the main floor.

The 2nd floor has 4 generous size bedrooms and full 4 piece bath. The master has a walk-in closet & 4 piece ensuite with separate shower.

The large corner lot provides added privacy as it's not surrounded by neighbours homes + it is fully fenced. Basement with high ceilings.

Roof 2018 by Saunderson. 48 hour irrevocable on offers.

Additional Information:

  • Property taxes for 2019, $4,715
  • Garage 2 car attached with direct access
  • Shingles 2018 Saunderson Roofing, GAF Timberline
  • Lot size 42 X 99 feet
  • Central air conditioning
  • Central vaccuum
  • Rough in Fireplace – gas in family room
  • Fenced, wood
  • Hot Water Tank – Rental Reliance, approx. $33/mo
  • Inclusions – Refrigerator, dishwasher, stove, washer, dryer, drapery & blinds

Room Type, Level & Dimensions

  • LIVING ROOM Main 14'0" x 11'3"
  • DINING ROOM Main 11'3" x 10'0"
  • KITCHEN Main 10'2" x 10'0"
  • EATNG Main 10'2" x 8'4"
  • FAMILY ROOM Main 14'10" x 13’0"
  • BATH Main Two piece
  • LAUNDRY Main 7’3” x 6’1”
  • MASTER BED 2nd 2nd 16'8" x 12'6"
  • ENSUITE 2nd Four piece
  • BEDROOM 2 - 2nd 14'2" x 11'7"
  • BEDROOM 3 - 2nd 12'8" x 11'7"
  • BEDROOM 4 - 2nd 11'4" x 10'2"
  • BATH 2nd Four piece

Schools in Immediate neighbourhood:

  • Longfields-Davidson Heights Secondary School, 2 min. drive
  • Berrigan Elementary School, 2 min. drive
  • Monsignor Paul Baxter School, 3 min drive

Use the interactive map below to have a look at the neighbourhood around this new listing.

Location: Corner of Longfield Dr. and Calaveras Ave.

If you want to live in this part of Barrhaven, have a look at all of the other homes for sale in Longfields.

If you want to see this listing, give Patrick Walchuk a call at 613-788-2590 or email Patrick@AgentInOttawa.com

June 19, 2019

48 Florizel Avenue, Bells Corners, Ottawa

48 Florizel Ave. is for Sale on Ottawa's MLS

MLS# 1156732 and Priced at $519,900. Perhaps one of the best Bells Corners locations backing on to NCC land on a child friendly avenue, come see this big 4 bedroom house today.

Some features at 48 Florizel:

  • True family home with lots of space for everyone.
  • 4 bedrooms on second floor.
  • 4 baths consisting of 2 full baths including an ensuite, a 3 piece with shower, and a 2 piece powder room.
  • Renovated baths with porcelain and granite floors.
  • Hardwood flooring in living, dining, and family room (with fireplace) which overlooks back yard and NCC land.
  • Renovated kitchen, opened up and more pantry space added.
  • Fully finished basement with recreation room and two other rooms for a home office or hobby room.
  • Large 2 car garage with direct access to house plus room for 4 cars in driveway.
  • Bell Fibe currently being laid on street.

ATTENTION DND employees:

cycle to work from here. Westcliffe Estates also has easy access to Hwy #416 & #417. Short drive to Barrhaven and Kanata.

Directions to Florizel:

Moodie to Tyrell. Left at Seyton, left at Florizel

Streetview and Google Neighbourhood Tour below

Contact Patrick Walchuk if you want to schedule a showing, 613-788-2590 or Patrick@AgentInOttawa.com

View all of the homes for sale in Bells Corners

June 7, 2019

Tax Relief for Multi-Family Properties

Income Properties with Permits issued after April 2017 will see huge reduction in Taxes for 35 years.

tax savings after new rules on multifamilyA new bill has just been passed by the Ontario Government concerning properties with 2 or more units in them, where the permit was issued after April 2017.

These building owners are about to get a break on their property taxes, for 35 years! So, if you own an income property and the permit was issued after April 2017, you will have a nice surprise coming your way, for 35 years. And, an even bigger bonus if you just bought a building like this! (the old owner might be miffed)

You can hear Patrick Walchuk discussing this news at the end of this months movie update, go to 1 minute 43 seconds to hear his take.

As an example, when we do the financials for any property we usually find out that the property will produce a small cash flow of a few thousand dollars per year. If you are in this situation, your cash flow could double, triple, or even more.

The taxes on these types of properties could be 50% less as we have just seen this happen in an 8 unit building.

The Ontario Government are doing this to encourage people to build more Multi-Unit Residential properties.

MULTI-UNIT RESIDENTIAL PROPERTY CLASS

Below is the transcript from the larger document, outlining the changes to the Multi-Unit property class, with permits issued after April 20th, 2017.

Changes save owners taxes on income property

This news is just out and we are still trying to get more details about it and we will update this page as we find out more. We are sure there will be some issues as we progress.

What about that person who built a 20 unit building 1 week before this new law. They could be paying $28,000 per year in taxes, while the exact same building next door is only paying half that amount, for 35 years. Big Big savings if you work this right.

Will we see a bunch of people jump on this opportunity, let's wait and see.

Are you looking to buy, have a look at some Income Properties for Sale, or get in touch if you want to sell your building.

June 4, 2019

Triplex in Ottawa South, Sold May 2019

This month we are looking at the financials from the sale of a smaller Triplex in the South end of Ottawa

The building below sold just last month for slightly over the asking price, and with a 35% down-payment the buyer has a positive cash-flow as well as a decent Cap Rate of 4%.

Bank/Heron Triplex, Sold May 2019
Listed Price $679,900

Selling Price $680,000
Scheduled Rental Income (SRI) $415,580
Effective Rental Income (ERI) $40,333
Total Operating Expenses (TOE) $12,977
Net Operating Income (NOI) $27,356
Capitalization Rate (CAP) 4%
Operating Expense Ratio (OER) 32%
Sales Price X Net Income 25
35% Downpayment $238,000
Mortgage (@ 3.7%) $442,000
Annual Debt Service (mortgage payments) $25,101
Cash Flow $2,255
Return on Investment (ROI) 0.9%

If you are looking to either buy or sell any type of income and investment property, get in touch, or have a look at our current inventory of Income Properties for sale

April 29, 2019

12 Unit Building Sold April 2019 in West Ottawa

This month we are taking a look at a larger building, this 12 unit sold in April 2019, below are the financials.

This building was a mix of bachelor and 2 bedroom apartments with one unit being commercial with a separate entrance. There were 11 parking spaces.

West Ottawa 12 Units, Sold April 2019
Listed Price $2,100,000

Selling Price $1,995,000
Scheduled Rental Income (SRI) $167,100
Effective Rental Income (ERI) $162,087
Total Operating Expenses (TOE) $59,982
Net Operating Income (NOI) $102.105
Capitalization Rate (CAP) 5.1%
Operating Expense Ratio (OER) 37%
Sales Price X Net Income 19.5
35% Downpayment $698,250
Mortgage (@ 5% Rate) $1,296,750
Annual Debt Service (mortgage payments) $90,504
Cash Flow $11,601
Return on Investment (ROI) 1.7%

It's good to see that someone can get a positive cash-flow from their investment, this building shows $11,601 per year which is a 1.7% return on their investment of almost $700,000. The Cap Rate seems decent too, at 5.1%

April 17, 2019

New Listing - 1719 Silver Bark Avenue, Orleans

1719 Silver Bark Ave. in the Sunridge Neighbourghood in Orleans. Price is $539,900

1719 Silver Bark Avenue

This new listing is coming soon to the Ottawa MLS, going live on Tuesday 23rd April 2019. This is a larger 4 bedroom family house with Main floor den and family room, finished basement. two full ensuites and a  two car garage.

Watch the Video Tour of 1719 Silver Bark Ave.

  • Detached 2 Storey House
  • 4 Bedrooms
  • 4 Bathrooms with 2 ensuites
  • Built in 1989
  • 59' x 129' lot size
  • Central Air Conditioned
  • Double Garage with auto-opener

Below is a Google Streetview of 1719 Silver Bark & Neighbourhood

Do you want to sell your house in Sunridge, let us give you a free evaluation of your house, or if you are looking to buy in this area, View all other homes for sale in Sunridge, Orleans

If you are interested and want more information or want to schedule a showing at 1719 Silver Bark, contact Patrick Walchuk at 613-788-2590 or email Patrick@AgentInOttawa.com 

April 4, 2019

Westboro 6 Unit Sold March 2019

Here is the financial information from the recent sale of a 6-Unit Income Property that sold last month.

The property below was a legal 6 unit and had a 7th apartment too.

At the end of the day, you can see that with a 35% down-payment this buyer took a loss of over $22,000 per year, or a -5% return on this investment.

Westboro 6 Units, Sold March 2019
Listed Price $1,250,000

Selling Price $1,231,000
Scheduled Rental Income (SRI) $62,000
Effective Rental Income (ERI) $59,932
Total Operating Expenses (TOE) $26,413
Net Operating Income (NOI) $33,519
Capitalization Rate (CAP) 2.7%
Operating Expense Ratio (OER) 44%
Sales Price X Net Income 37%
35% Downpayment $430,850
Mortgage (@ 5%) $800,150
Annual Debt Service (mortgage payments) $55,844
Cash Flow $(-22,325)
Return on Investment (ROI) (-5%)

Are you currently looking to buy any type of income property, if so, have a look at these Buildings for Sale

March 20, 2019

530 Clearbrook Drive, Nepean, Ottawa

House Now SOLD! 530 Clearbrook Drive, Nepean, Ontario K2J 0H9

It's a stacked, 2 bedroom in the Chapman Mills neighbourhood in Barrhaven.

Watch the video tour for 530 Clearbrook

  • Minto Chai model at 1,072 sq. ft.
  • lower unit
  • 2 bedrooms
  • 1.5 bath
  • hardwood on the main level and wall to wall carpet in the basement
  • tankless hot water.

Map of 530 Clearbrook Drive

Map location of 530 Clearbrook Drive

See a Video Tour of the neighbourhood around 530 Clearbrook