31-37 Wedeene St. Kitimat, BC
4 attached townhouses, outside units: 3 bed 1bath; inside units: 2bed 1bath
Purchased April 2012 @ $266,600 including closing costs
Sold January 2014 @ $456,800 including Realtor commission and closing costs
Down payment $53,880
Mortgage $212,720
Just the numbers:
| Rental income | 3,120 | |||||
| Property management | (278) | |||||
| Property taxes | (235) | |||||
| Repairs and maintenance’ | (627) | |||||
| Utilities | (137) | |||||
| Bank/legal/accounting | (302) | |||||
| Operating income | 1,541 | 6.9% | NOI | |||
| mortgage payment | (894) | |||||
| Cash flow | 647 | 14.4% | cash on cash return yearly | |||
| Mortgage paid down | 381 | |||||
| Net income | 1,028 | 22.9% | return on equity | |||
Return on investment :393% (capital gain $190,000 + $1028/mo x 21 months ÷ dp $53,880)
Annualized 224%
NOI, cash on cash, return on equity based on average 12 month figures.