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Investing in this triplex in Dunnville. With Vendor Take Back mortgage, great return on investment with minimal cash investment.
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Rental Property Investment
Detached Triplex house on large lot in Dunnville, Ontario
111 Cedar Street
The Opportunity
Solid brick triplex detached house with recent upgrades
Fully rented with long term tenants Current owner is restructuring his own
investment portfolio and offer great incentives for investors to take over this great investment
With less than $15,000 cash investment, you will get About 7.4 capitalization rate About 17% cash on cash
Return On Investment per year
Features of Property
Two storey brick triplex with separate meters 50x 130 ft lot Centrally located in Dunnville, Ontario
1 block to mid-town 0.5 block to river and park (Wingfield Public Park)
The apartments: 2 bedroom- upper – all new windows and bay window in
bedroom 1 bedroom on main level includes access to basement and
large front porch Bachelor on ground floor- private porch
Lots of parking spaces (about 10 cars) and nice big yard
Closer Look of the Property
Closer Look of the Property
The Deal
The selling price of the house is $189,000The seller offers a vendor take back
mortgage of 15% of the purchase price, at interest rate of 10%
You can invest in the property with only 5% down and no high ratio mortgage insurance
Financial Analysis – Net Operating Income
Monthly Annual Notes
Gross Rental Income:
Rent $1,595.00 $19,140.00Expenses:
Property Taxes $182.00 $2,184.00
Insurance $89.02 $1,068.20
Premium will vary based on provider
Water/Sewer -$ -$ Tenants PayGas -$ -$ Tenants PayElectricity -$ -$ Tenants Pay
Less Property Management 5% $79.75 $957.00Less Maintenance allowance 5% $79.75 $957.00Total Expenses $430.52 $5,166.20
Net Operating Income: $1,164.48 $13,973.80
Capitalization Rate (CAP Rate) 7.39%
$189,000.00111 Cedar Street Dunnville, Ont
Purchase Price:
Financial Analysis – Return on Investment
Financing for the Purchase:1st Mortgage
Mortgage Amount 80% $151,200.00Interest Rate 5%
Amortization years 352nd Mortgage (Vendor Take Back)
Mortgage Amount 15% $28,350.00Interest Rate 10%
Total Mortgage Amount $179,550.00
Purchase ExpensesLand Transfer Tax 1,615$ Purchase Legal fee 700$
Total Cash Investment $11,765.00
Return on Investment Analysis Monthly Annual
Net Operating Income $1,164.48 $13,973.80
Mortgage PaymentsMonthly 1st Mortgage Payment $759.92 $9,119.06
Monthly 2nd Mortgage Interest Payment $236.25 $2,835.00Total Monthly Mortgage Payments $996.17 $11,954.06Net Profit per year(before taking mortgage pay down and property appreciation) $168.31 $2,019.74Annual Return on Investment (ROI) 17%
Purchase Price: $189,000.00111 Cedar Street Dunnville, Ont
Details of Rental Income
Tenants pay for their own utilityMonthly rent from the apartments:
2 bedroom- upper $600 1 bedroom on main level $545 Bachelor on ground floor $450
Total monthly rental income $1595
Map of the property
Take Action Now
For further information contact: Cheryl at 1-877-255-1953 or 416-892-1953 or Email [email protected]