71 Moore Street, Kitimat, BC
4 bedroom 2 bath; house.
Purchased May 2012 @ $236,100 including closing costs
Sold January 2014 @ $367,900 net of commissions, closing costs
Down Payment $50,500
Mortgage $185,600
Just the numbers:
| Avg rent mothly rent over <2yrs | ||||||
| Rental income | $1,975 | |||||
| Property management | (96) | |||||
| Property taxes | (197) | |||||
| Repairs and maintenance’ | (135) | |||||
| Utilities | (200) | |||||
| Bank/legal/accounting | (205) | |||||
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| Operating income | $1,142 |
5.8% |
NOI |
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| mortgage payment | (780) | |||||
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| Cash flow | 362 | 8.6% | cash on cash return yearly | |||
| Mortgage paid down | 59 | |||||
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| Net income | 421 | 10.0% | return on equity | |||
Return on investment: 279% (capital gain $131,800 + $421/mo x 21 months ÷ dp $50,500)
Annualized 156%
NOI, cash on cash, return on equity based on average 12 month figures