High-yield rental property – Saint-Jean-sur-Richelieu (Iberville area)
This 5-unit building is an excellent choice for an investor looking for immediate returns.
Annual income: $74,040 | Asking price: $1,000,000
MRB: 13.5 | TGA: 5.4% | Return on cash: 3%
For more information, please don't hesitate to contact me!
3 x 4.5 + 1 x 3.5 + 1 x loft
$74,040 annual income
Several renovations carried out in recent years
Almost all windows 2021, 100% exterior doors 2021,
Facade completely redone in brick 2022, 3 kitchens 2021, 3 bathrooms 2021, 2 electric panels 2021-2024
(No invoices for work done)
The sale is made without legal guarantee of quality at the buyer's risk.
Full address : 916-918 boul. d'Iberville, & 1-3-5 rue François,
| Cadastral number | 3 613 237 |
| Total Municipal Assessment | 519 500$ |
| Municipal Land Assessment | 108 700$ |
| Municipal Building Assessment | 410 800$ |
| Number of Storeys | 2 |
| Type of Building | Isolated |
| Type of Construction | Brick and wood |
| Year of Construction | 1950 |
| N/A | |
| Fire System | N/A |
| Type of Parking | Exterior |
| Number of Parking Spaces | 10 |
| Land Surface Area | 3 900 sq. ft. |
| Laundry Room | N/A |
| Washer/Dryer Inlet | Washer and dryer facilities in apartments |
| Appliance Responsibility | To be verified |
| Heating Responsibility | Tenant except loft |
| Hot Water Responsibility | Tenant except loft |
| Plumbing | ABS and PEX |
| Condition of Roof | Good condition |
| Condition of Doors | Excellent |
| Condition of Balconies | Excellent |
| Concierge Agreement | N/A |
| Intercom and Doorbell | Non |
| Heating System | Electric baseboards |
| Hot Water System | 5 water heaters located in the mechanical room |
| Condition of Windows | Very good |
| Condition of Kitchens | MEDIUM LOFT, 1x Good condition, 3X Very good condition |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | MEDIUM LOFT, 1x Good condition, 3X Very good condition |
| Environmental Report | No |
| Floor Covering | Vinyl and ceramic floating |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $74,400 | 100 % | $1,240 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $74,400 | $1,240 | |
| Vac. / Bad debt | $2,232 | 3 % | $37 |
| EGR | $72,168 | $1,203 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $3,248 | 4.5 % | $650 |
| Municipal Taxes | Current | $5,874 | 8.1 % | $1,175 |
| School Taxes | Current | $324 | 0.4 % | $65 |
| Insurance | Current | $4,100 | 5.7 % | $820 |
| Electricity | Current | $807 | 1.1 % | $161 |
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $1,250 | 1.7 % | $250 |
| Maintenance | Normalised | $3,500 | 4.8 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $722 | 1 % | $144 |
| Total expenses | $19,824 | 27.5 % | $3,965 | |
| Net Revenue | $52,344 | $10,469 |
| schl | conv | |
|---|---|---|
| Maximum loan amount | $850,000 | $607,630 |
| Financing CAP | 5.14 % | 6.46 % |
| Debt coverage ratio | 1.1 | 1.2 |
| Interest Rate | 4.29 % | 5.29 % |
| Amortization | 35 Years | 25 Years |
| Term | 5 Years | 5 Years |
| schl | conv | |
|---|---|---|
| Net Revenue | $52,344 | $52,344 |
| Annual Mortgage Cost | $49,610 | $43,620 |
| Net cash after mortgage | $2,734 | $8,724 |
| RETURN ON INVESTMENT | ||
| Down Payment | $150,000 | $392,370 |
| Cash on cash return | 1.8 % | 2.2 % |
| Return on liquidity + capitalization | 9.5 % | 5.3 % |
| Total yearly return with appreciation of 2 % | 22.79 % | 10.41 % |
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