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British Columbia
Kelowna
610 Academy Way Unit# 114

$749,900

610 Academy Way Unit# 114, Kelowna, British Columbia, V1Y 9T1

QuickQuote^TM: $681K - $913K

MLS® # 10326107

3 Beds

4 Baths

Property Information:

Limited-Time Offer! Firm offer by April 30, 2025 to take advantage of exclusive strata fee incentives: - Building 12 – Unit #26: 2 years free strata fees. - Building 13 – Units #36 & #38: 1 year free strata fees. - Buildings 14, 15 & 16 – Multiple Units Available: 1 year free strata fees. MOVE IN READY! OPEN HOUSE Every Wed & Thurs, 12-3pm at Unit #115! Please note: unit in photos is OMEGA color scheme, unit is SIGMA color scheme. Academy Ridge in the University District is the ideal place to call home—or an excellent investment opportunity! Move-in ready, this unique Beta floor plan offers a flexible layout that will impress. Enjoy modern finishes throughout, including Whirlpool stainless steel appliances, quartz countertops, window coverings, LED lighting, 9ft ceilings, and central natural gas heat & AC. The double side-by-side garage provides ample parking and storage. What sets the Beta layout apart? It includes two potential lock-off rooms, each with a private entrance and a three-piece bathroom—offering endless possibilities! With a 2-5-10 year new home warranty, a central green park, and a bus stop right at the entrance, convenience is built into this community. Walk to UBCO, drive just five minutes to YLW, shopping, restaurants, and golf, and reach Big White or SilverStar in an hour. This is affordable, modern living at its best! Call today to book your viewing. (id:27)

Building Features:

Style: Townhouse
Building Type: Row / Townhouse
Amenities: Laundry - Coin Op
Basement Type: Full
Construction Style - Attachment: Attached
Exterior Finish: Stucco
Flooring Type: Carpeted, Hardwood, Tile
Roof Material: Roof Material
Roof Style: Unknown
Heating Type: Forced air
Cooling Type: Central air conditioning
Appliances: Refrigerator, Dishwasher, Dryer, Range - Electric, Microwave, Washer

Property Features:

OwnershipType: Strata
Property Type: Single Family
Bedrooms: 3
Bathrooms: 4
Half Bathrooms: 1
Access Type: Easy access, Highway access
Amenities Nearby: Golf Nearby, Airport, Park, Recreation, Schools, Shopping, Ski area
Built in: 2024
Community Features: Pets Allowed
Features: Central island
Landscape Features: Landscaped
MaintenanceFee Type: Insurance, Property Management, Other, See Remarks, Waste Removal, Water
View Type: View (panoramic)
Zoning Type: Unknown
Sewer: Municipal sewage system
Parking Type: See Remarks, Attached garage
No. of Parking Spaces: 2

Rooms:

Bathroom 2nd Level Measurements not available
Bathroom 2nd Level 8'0'' x 9'0''
Primary Bedroom 2nd Level 14'0'' x 12'0''
Kitchen 2nd Level 14'0'' x 8'0''
Dining 2nd Level 12'0'' x 10'0''
Living 2nd Level 13'0'' x 13'0''
Bathroom Basement Level 9'0'' x 5'0''
Bedroom Basement Level 14'0'' x 12'0''
Other Main Level 21' x 19'
Bathroom Main Level 9'0'' x 5'0''
Bedroom Main Level 14'0'' x 12'0''

Courtesy of: Coldwell Banker Horizon Realty

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Potential Investment Performance

Cumulative ROI

87.8%

Cumulative Market Appreciation

$207,183

Net Operating Income in Year 5

$25,340

Cash on Cash Return in Year 5

-5.6%

Assumptions

Market Appreciation Per Year

Rent Increase Per Year

Expense Increase Per Year

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 %	$149,980
Mortgage Amount	$599,920
Mortgage Payment %	$3,112

Cash Flow Calculator

monthly

yearly

Income
Gross Rental Income Powered By	$
Vacancy Rate %	$
Other	$
Gross Operating Income	$2,663

Operating Expenses
Management Fees %	$
Property Tax	$
Repair Reserve %	$
Insurance	$
Total Operating Expenses	$819
Net Operating Income	$1,844

Debt Service
Mortgage Payment	$3,112

Net Cash Flow	-$1,267

Cap Rate

2.95%

Acquistion Costs

Down Payment $149,980

Land Transfer Tax $12,998

Legal Fees $1,500

Adjustments $0

Appraisal $500

Total Acquisition Costs $164,978

Components of Return

Potential Returns

	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Investments
Down Payment	$149,980	-	-	-	-	-	-	-	-	-
Closing Costs	$14,998	-	-	-	-	-	-	-	-	-
Mortgage Paydown	$9,334	$9,782	$10,252	$10,745	$11,262	$11,803	$12,370	$12,965	$13,588	$14,241
Total	$174,312	$9,782	$10,252	$10,745	$11,262	$11,803	$12,370	$12,965	$13,588	$14,241
Cash Invested	$174,312	$184,094	$194,347	$205,093	$216,355	$228,159	$240,530	$253,495	$267,084	$281,325

Rental Cash Flows
Rent and other income	$31,966	$32,925	$33,913	$34,930	$35,978	$37,057	$38,169	$39,314	$40,494	$41,708
Operating Expenses	-$9,828	-$10,067	-$10,313	-$10,564	-$10,822	-$11,087	-$11,358	-$11,637	-$11,922	-$12,215
Mortgage Payment	-$37,352	-$37,352	-$37,352	-$37,352	-$37,352	-$37,352	-$37,352	-$37,352	-$37,352	-$37,352
Net Cash Flow	-$15,214	-$14,494	-$13,752	-$12,986	-$12,197	-$11,382	-$10,542	-$9,675	-$8,781	-$7,859

Returns
Property Price Appreciation	$37,495	$39,369	$41,338	$43,405	$45,575	$47,854	$50,246	$52,759	$55,397	$58,167
Mortgage Paydown	$9,334	$9,782	$10,252	$10,745	$11,262	$11,803	$12,370	$12,965	$13,588	$14,241
Net Cash Flow	-$15,214	-$14,494	-$13,752	-$12,986	-$12,197	-$11,382	-$10,542	-$9,675	-$8,781	-$7,859
Total Return	$31,614	$34,657	$37,838	$41,164	$44,640	$48,275	$52,075	$56,049	$60,204	$64,549
Cumulative Return	$31,614	$66,272	$104,110	$145,274	$189,915	$238,190	$290,266	$346,315	$406,520	$471,069

Investment Metrics
Cumulative ROI	18.1%	36.0%	53.6%	70.8%	87.8%	104.4%	120.7%	136.6%	152.2%	167.4%
Cash On Cash	-8.7%	-7.9%	-7.1%	-6.3%	-5.6%	-5.0%	-4.4%	-3.8%	-3.3%	-2.8%