$850,000

792 Burne Avenue, Kelowna, British Columbia, V1Y 5P7

QuickQuote^TM: Not Available

MLS® # 10330775

3 Beds

2 Baths

Property Information:

This centrally located 5,757 sq ft site allows for a building footprint of 3,166 sq ft, which is illustrated in Pictures 1 & 2. The approach for this property would be to utilize the living space above the drive aisle to maximize the living area above the entrance. This strategy results in four residences of approximately 1,500 sq ft each. The reduced upper-level floor area would allow for smaller 3-bedroom options with a shared bathroom, or 2-bedroom options, each with its own ensuite. With a creek at the rear and a quiet street in front, much of which has been redeveloped, this is an ideal location for a practical and profitable project. Call for details. Showings are available only to well-qualified parties with a keen interest in this incredible opportunity. (id:27)

Building Features:

Style: Detached
Building Type: House
Basement Type: Crawl space
Construction Style - Attachment: Detached
Exterior Finish: Stone, Stucco
Roof Material: Asphalt shingle
Roof Style: Unknown
Heating Type: Forced air
Cooling Type: Central air conditioning

Property Features:

OwnershipType: Freehold
Property Type: Single Family
Bedrooms: 3
Bathrooms: 2
Half Bathrooms: 1
Built in: 1945
Features: Irregular lot size
Lot Frontage: 50.0 Feet
Surface Water: Creek or Stream
WaterFront Type: Waterfront on stream
Zoning Type: Unknown
Sewer: Municipal sewage system
Parking Type: See Remarks

Rooms:

Bathroom Main Level 11'0'' x 5'8''
Bathroom Main Level 7'6'' x 4'11''
Bedroom Main Level 10'10'' x 7'7''
Bedroom Main Level 10'5'' x 9'4''
Primary Bedroom Main Level 12'10'' x 11'0''
Kitchen Main Level 15'2'' x 11'7''
Living Main Level 19'8'' x 13'6''

Courtesy of: Coldwell Banker Executives Realty

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Potential Investment Performance

Cumulative ROI

90.0%

Cumulative Market Appreciation

$234,839

Net Operating Income in Year 5

$29,888

Cash on Cash Return in Year 5

-5.2%

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 %	$170,000
Mortgage Amount	$680,000
Mortgage Payment %	$3,528

Cash Flow Calculator

monthly

yearly

Income
Gross Rental Income Powered By	$
Vacancy Rate %	$
Other	$
Gross Operating Income	$3,096

Operating Expenses
Management Fees %	$
Property Tax	$
Repair Reserve %	$
Insurance	$
Total Operating Expenses	$919
Net Operating Income	$2,177

Debt Service
Mortgage Payment	$3,528

Net Cash Flow	-$1,350

Cap Rate

3.07%

Acquistion Costs

Down Payment $170,000

Land Transfer Tax $15,000

Legal Fees $1,500

Adjustments $0

Appraisal $500

Total Acquisition Costs $187,000

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	$170,000	-	-	-	-	-	-	-	-	-
Closing Costs	$17,000	-	-	-	-	-	-	-	-	-
Mortgage Paydown	$10,580	$11,088	$11,621	$12,180	$12,765	$13,379	$14,022	$14,696	$15,402	$16,142
Total	$197,580	$11,088	$11,621	$12,180	$12,765	$13,379	$14,022	$14,696	$15,402	$16,142
Cash Invested	$197,580	$208,668	$220,290	$232,470	$245,235	$258,614	$272,637	$287,333	$302,735	$318,878

Rental Cash Flows
Rent and other income	$37,161	$38,276	$39,424	$40,607	$41,825	$43,080	$44,372	$45,703	$47,075	$48,487
Operating Expenses	-$11,028	-$11,298	-$11,576	-$11,860	-$12,152	-$12,451	-$12,757	-$13,072	-$13,395	-$13,726
Mortgage Payment	-$42,338	-$42,338	-$42,338	-$42,338	-$42,338	-$42,338	-$42,338	-$42,338	-$42,338	-$42,338
Net Cash Flow	-$16,205	-$15,361	-$14,490	-$13,591	-$12,665	-$11,709	-$10,723	-$9,707	-$8,659	-$7,577

Returns
Property Price Appreciation	$42,500	$44,624	$46,856	$49,199	$51,659	$54,241	$56,954	$59,801	$62,791	$65,931
Mortgage Paydown	$10,580	$11,088	$11,621	$12,180	$12,765	$13,379	$14,022	$14,696	$15,402	$16,142
Net Cash Flow	-$16,205	-$15,361	-$14,490	-$13,591	-$12,665	-$11,709	-$10,723	-$9,707	-$8,659	-$7,577
Total Return	$36,874	$40,352	$43,987	$47,787	$51,759	$55,911	$60,252	$64,790	$69,535	$74,496
Cumulative Return	$36,874	$77,226	$121,214	$169,001	$220,760	$276,671	$336,924	$401,714	$471,250	$545,746

Investment Metrics
Cumulative ROI	18.7%	37.0%	55.0%	72.7%	90.0%	107.0%	123.6%	139.8%	155.7%	171.1%
Cash On Cash	-8.2%	-7.4%	-6.6%	-5.8%	-5.2%	-4.5%	-3.9%	-3.4%	-2.9%	-2.4%