#1007 – 933 Seymour St, Vancouver, BC
1br 1 bath loft, no parking 673 sq ft
Purchased February 2002 @ $157,800 includes closing costs
Sold March 2004 @ $210,800 net of commissions and closing costs
Down payment $57,800
Mortgage $100,000
Just the numbers:
| Avg rent monthly rent over 2 yrs | ||||||||
| Rental income | 979 | |||||||
| Property management | (20) | |||||||
| Property taxes | (86) | |||||||
| Repairs and maintenance’ | (157) | |||||||
| Office & caretaker | (114) | |||||||
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| Operating income | 602 | 4.6% | NOI | |||||
| mortgage payment | (570) | |||||||
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| Cash flow | 32 | 0.7% | cash on cash return yearly | |||||
| Mortgage paid down | 184 | |||||||
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| Net income | 216 | 4.5% | return on equity | |||||
Return on investment :101% (capital gain $53,000 + $216/mo x 26 months ÷ dp $57,800)
Annualized 46.9%
NOI, cash on cash, return on equity based on average 12 month figures.