Here’s how you can own your own home for $950 a month or how investors can get a positive cash flow in Collingwood

ExtbstAs regular readers know, we own an investment condo in Collingwood that we are quite pleased with. It’s one of the very few places left in Collingwood where it is possible to have a positive cash flow, Kitchen2even after paying the mortgage. It’s an equally exciting opportunity for a home buyer looking to own for less than the cost of renting in Collingwood.

 I’ve just listed a similar condo and the numbers are even better today with current mortgage rates and rents. It’s a tidy, three bedroom, 2 storey townhome with a basement in Shaw Square – an enclave of just 39 units on Tenth Street. It’s priced at just $127,900 and, in addition to the numbers being very attractive, this project has undergone a major upgrade in the last couple of years that included:

– New windows

– New roofs and shingles

– New eavestroughs

– R50 attic insulation! (I think this may be the only development in town that is so well insulated.)

Hrecent 2011 photos 146 summer yard (1024x768)ere’s how the numbers stack up. Assuming a mortgage rate of 2.94% and an amortization period of 25 years, the monthly mortgage payment would be $597.00 a month with just 5% as a down payment. In addition, the monthly condo fee is $229.00 and the taxes last year were $136.00 a month. Add it up and the total comes in at about $950.00 a month compared to rental values of $1,000 to $1200 a month in these units.

For investors with 25% down, the monthly carrying costs are under $820.00 a month leaving a positive cash flow and excellent return on the investment.

The unit I have just listed is an end unit with a modernized kitchen featuring cork floors, contemporary hardware and a breakfast bar, oak hardwood floors, a gas fireplace, fenced yard, 1.5 baths and three bedrooms in 1,000 square feet. Don’t let this opportunity pass you by.

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About Marg

is an award-winning real estate Broker who has successfully been helping people move since 1989. When it’s time for a move in or out of a bigger, smaller, better, more expensive, less expensive, newer, older, house, condo, farm, investment property, vacant lot or business, talk to Marg.

This entry was posted by Marg on Monday, March 31st, 2014 at 11:23 am and is filed under Investment Property, Listings. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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RE/MAX four seasons realty limited, brokerage  ♦  67 First Street Collingwood, ON L9Y 1A2  ♦  705-445-8500