Come see 1079 Avignon Court in Orleans, it's coming to the Ottawa MLS on Monday 16th September. Great location with a private backyard.
Use the Google Streetview below to navigate around the listing at 1079 Avignon.
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
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.
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
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.
cycle to work from here. Westcliffe Estates also has easy access to Hwy #416 & #417. Short drive to Barrhaven and Kanata.
Moodie to Tyrell. Left at Seyton, left at Florizel
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
A 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.
Below is the transcript from the larger document, outlining the changes to the Multi-Unit property class, with permits issued after April 20th, 2017.
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.
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
|
|
| 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
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
|
|
| 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%
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.
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
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
|
|
| 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
It's a stacked, 2 bedroom in the Chapman Mills neighbourhood in Barrhaven.
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