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 62 Unit Sarnia
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Good location for investment. Property close to all amenities. Nice building, mostly seniors. Treats pay own hydro.
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| 62 Unit Sarnia |
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| September 4, 2008 |
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| Purchase price |
$2,850,000 |
| Cap Rate |
7.05% |
| Closing costs |
$49,131 |
| Mortgage @ 75% |
$2,137,500 |
| VTB @ 10% |
$285,000 |
| Capital required |
$476,631 |
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| Monthy totals |
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| Income |
$36,525.33 |
| Effective Income |
$35,429.57 |
| Expenses |
$19,772.91 |
| First Mortgage |
$12,947.75 |
| VTB |
$1,657.57 |
| ROI Cash |
$1,051.34 |
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| Annual totals |
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| Income |
$438,304 |
| Expenses |
$237,275 |
| First Mortgage |
$155,373 |
| VTB |
$19,891 |
| Annual ROI Cash |
$25,765 |
| Principal recapture |
$47,745 |
| Appreciatation |
$57,000 |
| Annual ROI $ |
$130,510 |
| ROI % |
27.38% |
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| Partnership share first year |
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| Annual ROI $ |
$65,255 |
| ROI % |
13.69% |
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| 5 Year forecast |
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| Income |
$2,326,570 |
| Expenses |
$1,259,484 |
| First Mortgage |
$776,865 |
| Second Mortgage |
$99,454 |
| ROI Cash |
$190,767 |
| Principal recapture |
$266,152 |
| Appreciatation |
$302,563 |
| ROI $ |
$759,482 |
| Annualized ROI % |
31.87% |
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| Partnership share |
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| ROI $ |
$379,741.08 |
| Annualized ROI % |
15.93% |
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