Location: 226 Victoria Ave, 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 | $220 000 |
| Down Payment required | $44 000 |
| Rent | $1 740/month |
| Mortgage pay down | $580/month |
| Monthly Cashflow | $250/month |
ESTIMATED VALUE OF BUILDING NUMBERS (2015) – $290 000
If the property values grow by 5% per year for the next 5 years, the property will be valued at $290 000. Mortgage owing would be $153 000.)
| Estimated Equity (2015) | $137 000 |
| Less down payment returned | $44 000 |
| Gross Profit | $93 000 |
| ROI | 211% (5 years)/42.2% (annual) |