So what do we have here?
This is a Triplex building located in Joans Heights.
This Triplex consist of (3) 1 bedroom 1 bathroom units.
The actual living size of the entire building is 1603 square feet.
The size of the land is 9740 square feet.
Joans heights has a number of homes and multi family properties available. The price ranges anywhere from $130k-$310k depending on the size and zoning.
Most 1 bedroom units have ranged from 60-80k per unit which puts this particular property at the ceiling of average pricing for the area.
Standard rent collected ranges from 400-800 depending on what is included with the rental agreement. ( No data on actual rent being collected if any)
Who is this suitable for????
The Yard size is to be noted as it is approximately 20% bigger than the standard sized property in the area.
If we factor a mortgage payment at 25 years with a 6% interest rate our monthly payment would be approximately $1385 / month (PS. down payments and other fees were not allocated for)
If one were to collect $600/ month per unit possible additional income could be close to $400. Of course you would need to consider upkeep but yo get the picture. If yo ucan get a longer term and lower interest rate that too would increase your additional income
Of course if you live in one of the units and collected on the other two units you may have to modify the rental amount to accommodate the mortgage in full.
Room for expansion
Not suitable for families
Leno Rate Value
Location – 3/5
Home size– 3.5/5
yard size – 4.0/5
Style – 3.5/5
LRV – 3.2/5
If you are interested in purchasing this property. Please contact us at our office on 396-3239 or on facebook at Leno Realty Ltd
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