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$899,900

235 Gibbs Road W, Kelowna, British Columbia, V1X 2W4

QuickQuoteTM: $854K - $1.0M
MLS® # 10329506

5 Beds

4 Baths

Property Information:

First time ever being offered for sale! 4 level split-style home with 2 bed 1.5 bath LEGAL suite PLUS detached ""she shed""/workshop in a prime location. This is a unique opportunity to own a large home (over 3000 sq ft) while having a mortgage helper, & still have plenty of room for all of the toys. Great holding property with current MF1 zoning and future land use designation is core area neighborhood. The options are endless for this large corner lot! The main living space offers 3 bedrooms & 2 bathrooms, split floor plan, a partially finished bonus rec room in the basement, and plenty of storage space. The legal suite has it's own entrance, laundry, yard space, & is offset from the main home meaning zero up/down noise transfer for maximum enjoyment by all residents. Be sure to take the virtual tour and check out the 360 view of the detached ""she shed"". Call today to book your own private showing! (id:27)

Building Features:

  • Style: Detached
  • Building Type: House
  • Air Conditioning: Yes
  • Construction Style - Attachment: Detached
  • Heating Type: Baseboard heaters
  • Cooling Type: Window air conditioner

Property Features:

  • OwnershipType: Freehold
  • Property Type: Single Family
  • Bedrooms: 5
  • Bathrooms: 4
  • Half Bathrooms: 1
  • Built in: 1973
  • Zoning Type: Unknown
  • Sewer: Municipal sewage system
  • Parking Type: See Remarks, RV

Rooms:

  • Bathroom 2nd Level 7'4'' x 9'6''
  • Bedroom 2nd Level 12'2'' x 13'
  • Primary Bedroom 2nd Level 17'5'' x 10'1''
  • Recreation Room Basement Level 23'5'' x 22'3''
  • Bathroom Lower Level 8'8'' x 5'1''
  • Bedroom Lower Level 17'6'' x 12'4''
  • Family Main Level 18' x 11'8''
  • Living Main Level 17'6'' x 12'4''
  • Kitchen Main Level 17'6'' x 11'4''
  • Media Room Main Level 17'2'' x 11'1''
  • Bathroom 5'3'' x 5'
  • Living 19'3'' x 18'10''
  • Kitchen 20'6'' x 8'8''
  • Bathroom 7'11'' x 10'11''
  • Bedroom 8'11'' x 9'7''
  • Primary Bedroom 12'3'' x 11'10''

Courtesy of: Century 21 Assurance Realty Ltd

REALTOR.ca  

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Potential Investment Performance

Cumulative ROI

93.5%

Cumulative Market Appreciation

$248,625

Net Operating Income in Year 5

$33,548

Cash on Cash Return in Year 5

-4.4%

Assumptions

The information below is based on user inputs and general assumptions for informational purposes only. The outputs are not legal, financial, investment, or other advice. Review all fields for accuracy and consult an agent for guidance.

Mortgage Calculator

Mortgage
Purchase Price
$
Down Payment
%
$179,980
Mortgage Amount $719,920
Mortgage Payment
%
$3,735

Cash Flow Calculator

monthly
yearly
Income
Gross Rental Income
Powered By
$
Vacancy Rate
%
$
Other
$
Gross Operating Income $3,430
Operating Expenses
Management Fees
%
$
Property Tax
$
Repair Reserve
%
$
Insurance
$
Total Operating Expenses $983
Net Operating Income $2,446
Debt Service
Mortgage Payment $3,735
Net Cash Flow -$1,289

Cap Rate

3.26%

Acquistion Costs

Down Payment $179,980
Land Transfer Tax $15,998
Legal Fees $1,500
Adjustments $0
Appraisal $500
Total Acquisition Costs $197,978

Components of Return

Potential Returns

Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 10
Investments
Down Payment $179,980 - - - - - - - - -
Closing Costs $17,998 - - - - - - - - -
Mortgage Paydown $11,201$11,739$12,303$12,895$13,514$14,164$14,845$15,558$16,306$17,090
Total $209,179$11,739$12,303$12,895$13,514$14,164$14,845$15,558$16,306$17,090
Cash Invested $209,179$220,918$233,222$246,117$259,632$273,797$288,642$304,201$320,508$337,598
Rental Cash Flows
Rent and other income $41,160$42,394$43,666$44,976$46,326$47,715$49,147$50,621$52,140$53,704
Operating Expenses -$11,804-$12,095-$12,394-$12,700-$13,014-$13,337-$13,668-$14,007-$14,355-$14,712
Mortgage Payment -$44,824-$44,824-$44,824-$44,824-$44,824-$44,824-$44,824-$44,824-$44,824-$44,824
Net Cash Flow -$15,468-$14,524-$13,551-$12,548-$11,513-$10,445-$9,345-$8,209-$7,039-$5,832
Returns
Property Price Appreciation $44,995$47,244$49,606$52,087$54,691$57,426$60,297$63,312$66,478$69,802
Mortgage Paydown $11,201$11,739$12,303$12,895$13,514$14,164$14,845$15,558$16,306$17,090
Net Cash Flow -$15,468-$14,524-$13,551-$12,548-$11,513-$10,445-$9,345-$8,209-$7,039-$5,832
Total Return $40,727$44,459$48,358$52,434$56,693$61,144$65,797$70,661$75,745$81,060
Cumulative Return $40,727$85,186$133,545$185,980$242,673$303,818$369,616$440,277$516,023$597,083
Investment Metrics
Cumulative ROI 19.5% 38.6% 57.3% 75.6% 93.5% 111.0% 128.1% 144.7% 161.0% 176.9%
Cash On Cash -7.4% -6.6% -5.8% -5.1% -4.4% -3.8% -3.2% -2.7% -2.2% -1.7%
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Market Price Trends

Single family detached

10.78%

Price change (1 year)

29.03%

Price change (5 years)

All Properties

10.78%

Price change (1 year)

29.03%

Price change (5 years)

1 year changes compare the same month from the previous year. Find an agent in this area to receive more information.

Location of 235 Gibbs Road W, Kelowna, British Columbia, V1X 2W4

Demographic Information of 235 Gibbs Road W, Kelowna, British Columbia, V1X 2W4

Life Stage

Young Couples

Employment Type

Mixed

Average Household Income

$91,602.91

Average Number of Children

1.65

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

18.91 %

High school certificate or equivalent

34.85 %

Apprenticeship trade certificate/diploma

12.42 %

College/non-university certificate

17.89 %

University certificate (below bachelor)

0.07 %

University Degree

15.85 %

Commuter

Travel To Work

By Car

86.63 %

By Public Transit

8.59 %

By Walking

2.64 %

By Bicycle

0.0 %

By Other Methods

2.14 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

33.41 %

Houses

66.59 %

Own Vs. Rent

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