Location: 130 Afton Avenue, Hamilton
An apartment building recently purchased in the revitalizing area of Downtown Hamilton. Home was purchased at a discount due to seller’s situation.
YEARLY OPERATING NUMBERS (2011)
| Purchase price | $280 000 |
| Down Payment required | $56 000 |
| Rent | $2 310/month |
| Mortgage pay down | $350/month |
| Monthly Cashflow | $480/month |
ESTIMATED VALUE OF BUILDING NUMBERS (2016) – $357 358
If the property values grow by 5% per year for the next 5 years, the property will be valued at $357 358. Mortgage owing would be $202 602.)
| Estimated Equity (2016) | $154 756 |
| Less down payment returned | $56 000 |
| Gross Profit | $98 756 |
| ROI | 176% (5 years)/35% (annual) |