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Profitable Property is excited to present to you this All Brick 6 Bedroom Legal Duplex with 4 Washrooms at a very reasonable price point- that’s right, only $550k for this property that comes with Vacant Possession.
This property is located in Downtown Peterborough, close to the Trent-Fleming Bus route - a high-demand rental location. The property will require a little bit of work and updating to get top-quality tenants in. These renos seem to be only cosmetic in nature.
In an environment where soaring demand is pushing up rental prices, this deal is available to you with vacant possession - you get to choose your tenants and set market rents after you take possession. No need for turnovers or worrying about increasing your NOI.
This house has a lot of great things going for itself - a discounted price point, High Demand Location, Vacant Possession, and a demonstrated potential to Cash Flow well over $500/month at a high-interest rate environment. What else would you call a Profitable Property!?
The Numbers:
Income
Unit One: $2,000.00
Unit Two: $2,000.00
Total Income: $4,000.00
Expenses
Mortgage $2,411.00 (80% ltv, 5.24%, 30 yr am)
Taxes $320.00
Utilities $300.00
Maintenance $200.00
Total Expenses: $3,231.00
Cash Flow: $769.00
CLOSING: May 31st, 2023
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