🤑CASHFLOW+ FROM DAY ONE🤑 Legal Duplex in Waterloo at a Big Discount Sold

🤑CASHFLOW+ FROM DAY ONE🤑 Legal Duplex in Waterloo at a Big Discount!

 

Wholesale Price: $760,000(Assignment Fee Included)

 

Photos/Videos: 

https://drive.google.com/drive/folders/1yhzZcRf8YE4NCHF0A3ak2UnSXtcwWY5e

 

FULL BUYER’S PACKAGE: https://conta.cc/3DS72Rc

 

Investors, are you looking to get your hands on a turnkey Cash Flow Positive Property that can weather today’s high-interest rates? We have quite the deal for you!

This legal duplex with 7 Bedrooms and 3 Full Washrooms is located in the heart of Waterloo and is within walking distance to both Wilfrid Laurier University and the University of Waterloo- A Great opportunity to make an investment and to give your child a place to live while they attend University.

Just like most of the properties in the neighborhood, it is currently being rented to Uwaterloo students at market rents. This property generates a whopping $5000/month in rent, secured by leases that have been co-signed by the student’s parents– they have always paid on time. There is also a coin-operated washer and dryer in the basement, acting as an additional source of income.

Thanks to the amazing location of the property, you will barely find any trouble in filling vacancies. The neighborhood has been super popular among investors looking to buy safe investments that have cash flow.

Although the house is currently outdated, it has hardwood flooring. It can eventually use a cosmetic renovation upon tenant turnover. Similar properties that have been updated are selling for over $1M (see comps), you could rest assured that there is a cushy $300k spread available even if you wanted to renovate and then resell the property after turnover. Since the property is a duplex on the title, there is no need for permits or conversions. 

Savvy investors, take note that this property sits on a large 50×139 lot that backs onto Waterloo Park. That’s 6,950 ft² of land in a prime area of Waterloo, with no neighbors at the back. For buy-and-hold investors, there is the added opportunity to build something at the back of the lot in the future, making this a very lucrative property to hold for the long term. 

This cash flow monster can generate over $500/month in Positive Cash Flow even with today’s high-interest rates. Just imagine what it would do when interest rates eventually come back down! When you are able to purchase a Legal duplex for the price of a single-family, that’s what we call a Profitable Property!

Closing: February 28th, 2023 (Flexible, can be extended)

 

Let’s take a look at the current numbers: 

 

Purchase Price	$760,000.00
Mortgage Payments	$3,429.00
(20% Down, 5.5%, 30 yr. am)
Prop Taxes	$416.00
Insurance	$250.00
Utilities	$250.00
Maintenance	$200.00
Total Expenses	$4,545.00
Total Rental Income	$5,000.00
Laundry Income	$50.00
Total Income	$5,050.00
Cash Flow	$505.00

 

This cash flow monster can generate over $500/month in Positive Cash Flow even with today’s high interest rates. Just imagine what it would do when interest rates eventually come back down! That’s what we call a Profitable Property!

 

Closing: February 28th, 2023 (Flexible, can be extended)

 

Property Highlights:

 

• A+ Waterloo Location
• 2 Storey Detached Property
• 50 x 139 deep lot
• 2 Kitchens
• 7 Bedrooms
• 3 Bathrooms
• Detached Garage
• Driveway Parking for 4 cars
• 200 AMP Breaker Panel
• Year Built: 1913
• Coin Operated Washer/Dryer in Basement
• HWT Rented
• Taxes: $5102/year(approx)
• Currently Rented at $5000 month

 

Suggested Renos: 

 

Cosmetic Reno upon tenant turnover

 

Comps:

 

1. 199 Erb St. W sold for $1,052,000 on February 3rd, 2023

 

https://housesigma.com/web/en/house/nM697k5p9WbYbmwe/199-Erb-Street-W-Waterloo-N2L1V6-40338002

 

This duplex with a outdated finishes and a similar footprint as our property just sold for over $1,052,000 last week! It does not feature a garage. Sold for almost $300k over our price!

 

1. 107 Noecker St. sold for $940,000 on Dec. 8th, 2022

 

https://housesigma.com/web/en/house/bqB176W0MbK3ZajD/107-Noecker-Street-Waterloo-N2J2R7-40338374

 

This legal duplex with nicer finishes sold for $940k in December. It has 2 less bedrooms and 1 less bathroom and does not have a garage. Our property is larger, and closer to the University.

 

1. 15 Fir St. sold for $1,050,000 on November 23rd, 2022

https://housesigma.com/web/en/house/gAaOyL8zgBOyGxMb/15-Fir-Street-Waterloo-N2L3H4-40299865-X5708729

 

This updated student rental duplex is a good example of what our property would be worth once it’s renovated. It is slightly larger than our property but our property is in a better location. It sold for $290k over our price!

 

 

 

https://conta.cc/3DS72Rc