- Joined
- Sep 18, 2009
- Messages
- 219
Private sale.
5-plex, mix of 2brs and 1 brs tenants pay heat and hydro.
Winnipeg (area is probably 2.5 out of five)
Suites are all in good shape, new windows, etc
Price 300K
Rents 3K per month
Gross monthly expenses (15% of gross rent - insurance, maintenance, property management) $465
Taxes 200 per month
Water 100 per month
PI @2.25% for 35 yrs: $826
OR
PI @6% for 25 yrs: $1546
Both assume 20% down
Cashflow under scenario 1: $1300 a month
Cashflow under scenario 2: $634 a month
This is a private sale that I may be able to swing. He is a family friend looking to retire and unload the property but is trying to save the realtor fees.
What are your thoughts?
5-plex, mix of 2brs and 1 brs tenants pay heat and hydro.
Winnipeg (area is probably 2.5 out of five)
Suites are all in good shape, new windows, etc
Price 300K
Rents 3K per month
Gross monthly expenses (15% of gross rent - insurance, maintenance, property management) $465
Taxes 200 per month
Water 100 per month
PI @2.25% for 35 yrs: $826
OR
PI @6% for 25 yrs: $1546
Both assume 20% down
Cashflow under scenario 1: $1300 a month
Cashflow under scenario 2: $634 a month
This is a private sale that I may be able to swing. He is a family friend looking to retire and unload the property but is trying to save the realtor fees.
What are your thoughts?