I’m excited to present you my new listing. This well built home that features 5 beds, 3 baths, 2 kitchens, walk-in closet, laminated floors, nice eating nook, shed, huge private deck, spacious backyard, balcony with an amazing view, lots of covered parking, double garage and storage. It’s an amazing investment opportunity, basement is currently rented and AAA+++ tenants are willing to stay. This house is also features a closed off garage that can be easily converted into workshop or personal studio, just bring your ideas into this place. Just move in upstairs and have tenants living downstairs and help paying you mortgage.
Fantastic location - just a short walk to Oyama Traditional School & the beach. A truly spectacular setting where you get to enjoy the blue-green water at the south end of Kalamalka Lake and the north end of Wood Lake. Picture yourself sitting on the massive deck, enjoying a glass of Okanagan's finest, counting your blessings to be here! Mountain and lake views are included!
Listing Price: $549,990
Down payment (5%) – $27,250
If you put less than 20% down, you have to pay CMHC. In our example, it will be additional of $19,620 (3.6% with traditional down payment) added to your mortgage amount.
Monthly mortgage payment: $2,400
Property taxes: $138.25 ($2429- $770 property tax rebate on primary residence)
You will be living in your house for $1400 (excluding utilities and home insurance) a month. Does it sound good?
But, if you are looking for investment property numbers are looking even better. There is a snapshot:
Monthly Mortgage payment: $1780.80 (based on 20% down, 30 years of amortization, 2.49% interest rate and 5year fix term)
Property taxes: $202.50 (no rebate will be applied)
As an investment property, your fixed expenses are roughly $2000 and potential income can be at least $3000 - $3300 a month ($2000 – $2200 for upstairs and $1000-$1100 for basement)
Let’s work together on creation and realization your real estate dreams! Please contact Alina Griva at Lake Okanagan Realty Ldt. at 250-863-5246 or firstname.lastname@example.org to arrange a private viewing.
Lake Okanagan Realty Ltd.