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 21 Unit Toronto
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This is a solid building with trendy good size units that are easy to rent. Some units have separate dining rooms and decorative fireplaces. 17 of the 21 units are renovated. Treat mortgage as clear. Financing is based on CMHC.
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| 21 Suite Toronto |
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| September 4, 2008 |
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| Purchase price |
$1,655,000 |
| Cap Rate |
8.09% |
| Closing costs |
$32,723 |
| Mortgage @ 75% |
$1,241,250 |
| VTB @ 10% |
$165,500 |
| Capital required |
$280,973 |
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| Monthy totals |
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| Income |
$19,382.35 |
| Effective Income |
$18,413.23 |
| Expenses |
$8,222.50 |
| First Mortgage |
$6,904.50 |
| VTB |
$962.56 |
| ROI Cash |
$2,323.67 |
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| Annual totals |
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| Income |
$232,588 |
| Expenses |
$98,670 |
| First Mortgage |
$82,854 |
| VTB |
$11,551 |
| Annual ROI Cash |
$39,513 |
| Principal recapture |
$30,906 |
| Appreciatation |
$33,100 |
| Annual ROI $ |
$103,520 |
| ROI % |
36.84% |
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| Partnership share first year |
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| Annual ROI $ |
$51,760 |
| ROI % |
18.42% |
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| 5 Year forecast |
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| Income |
$1,234,606 |
| Expenses |
$523,752 |
| First Mortgage |
$414,270 |
| Second Mortgage |
$57,754 |
| ROI Cash |
$238,830 |
| Principal recapture |
$169,597 |
| Appreciatation |
$175,699 |
| ROI $ |
$584,127 |
| Annualized ROI % |
41.58% |
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| Partnership share |
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| ROI $ |
$292,063.25 |
| Annualized ROI % |
20.79% |
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