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Royal LePage
Royal LePage
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$439,000

2 Beds

2 Baths

1098 FEETSQ sqft

QuickQuoteTM: $450K - $548K

Prince George BC, V2L 5S1

MLS® # R2975953

Property Information:

Welcome to Magnolia Gardens, one of the most desirable condo buildings in the city! This stunning 2-bedroom unit on the 3rd floor offers modern updates and a prime location, just walking distance to Lheidli T'enneh Memorial Park and close to all amenities. Featuring new flooring and fresh paint, this home is move-in ready! Enjoy the convenience of in-suite laundry, a large private patio, and a bright, open-concept living space. Additional perks include a heated parking parkade and an extra storage unit. Whether you're downsizing, investing, or looking for a low-maintenance lifestyle, this condo is a fantastic opportunity. All measurements are approximate, buyer to verify if deemed important. Don't miss your chance to own in Magnolia Gardens!

Building Features:

  • Floor Space: 1098 Square Feet

Property Features:

  • Bedrooms: 2
  • Bathrooms: 2
  • Annual Tax Amount: $3,219
  • Association Amenities: Bike Room, Exercise Centre, Recreation Facilities, Caretaker, Trash, Maintenance Grounds, Gas, Heat, Hot Water, Management, RV Parking, Snow Removal
  • Basement: None
  • Built in: 1997
  • Condo Fees: $439
  • Fireplace Features: Gas
  • Floor Space (approx): 1098 Square Feet
  • Heating: Hot Water, Natural Gas
  • Interior Features: Elevator, Guest Suite, Storage
  • Laundry Features: In Unit
  • Parking Features: Other
  • Structure Type: Multi Family, Residential Attached
  • No. of Parking Spaces: 1

The data relating to real estate on this web site comes in part from the MLS® Reciprocity program of the Greater Vancouver REALTORS®, the Fraser Valley Real Estate Board or Chilliwack & District Real Estate Board. Real estate listings held by participating real estate firms are marked with the MLS® Reciprocity logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the Greater Vancouver REALTORS®, the Fraser Valley Real Estate Board or Chilliwack & District Real Estate Board which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of the Greater Vancouver REALTORS®, the Fraser Valley Real Estate Board or Chilliwack & District Real Estate Board.

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Potential Investment Performance

Cumulative ROI

73.7%

Cumulative Market Appreciation

$121,287

Net Operating Income in Year 5

$11,172

Cash on Cash Return in Year 5

-8.5%

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
%
$87,800
Mortgage Amount $351,200
Mortgage Payment
%
$1,822

Cash Flow Calculator

monthly
yearly
Income
Gross Rental Income
Powered By
$
Vacancy Rate
%
$
Other
$
Gross Operating Income $1,726
Operating Expenses
Management Fees
%
$
Property Tax
$
Repair Reserve
%
$
Insurance
$
Condo/Strata Fees
$
Total Operating Expenses $935
Net Operating Income $791
Debt Service
Mortgage Payment $1,822
Net Cash Flow -$1,030

Cap Rate

2.16%

Acquistion Costs

Down Payment $87,800
Land Transfer Tax $6,780
Legal Fees $1,500
Adjustments $0
Appraisal $500
Total Acquisition Costs $96,580

Components of Return

Potential Returns

Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 10
Investments
Down Payment $87,800 - - - - - - - - -
Closing Costs $8,780 - - - - - - - - -
Mortgage Paydown $5,464$5,726$6,002$6,290$6,593$6,909$7,242$7,590$7,954$8,337
Total $102,044$5,726$6,002$6,290$6,593$6,909$7,242$7,590$7,954$8,337
Cash Invested $102,044$107,771$113,773$120,064$126,657$133,566$140,809$148,399$156,354$164,691
Rental Cash Flows
Rent and other income $20,722$21,344$21,984$22,644$23,323$24,023$24,744$25,486$26,251$27,038
Operating Expenses -$11,226-$11,472-$11,723-$11,980-$12,243-$12,512-$12,787-$13,069-$13,356-$13,650
Mortgage Payment -$21,866-$21,866-$21,866-$21,866-$21,866-$21,866-$21,866-$21,866-$21,866-$21,866
Net Cash Flow -$12,370-$11,994-$11,605-$11,203-$10,786-$10,355-$9,910-$9,449-$8,972-$8,478
Returns
Property Price Appreciation $21,950$23,047$24,199$25,409$26,680$28,014$29,415$30,885$32,430$34,051
Mortgage Paydown $5,464$5,726$6,002$6,290$6,593$6,909$7,242$7,590$7,954$8,337
Net Cash Flow -$12,370-$11,994-$11,605-$11,203-$10,786-$10,355-$9,910-$9,449-$8,972-$8,478
Total Return $15,044$16,780$18,596$20,497$22,486$24,568$26,746$29,026$31,412$33,910
Cumulative Return $15,044$31,824$50,420$70,918$93,404$117,972$144,719$173,746$205,159$239,069
Investment Metrics
Cumulative ROI 14.7% 29.5% 44.3% 59.1% 73.7% 88.3% 102.8% 117.1% 131.2% 145.2%
Cash On Cash -12.1% -11.1% -10.2% -9.3% -8.5% -7.8% -7.0% -6.4% -5.7% -5.1%
QuickQuoteTM Powered by RPS
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Market Price Trends

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Location of 308-2055 Ingledew Street, Prince George, BC, V2L 5S1

Demographic Information of 308-2055 Ingledew Street, Prince George, BC, V2L 5S1

Life Stage

Young Couples

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$90,969.09

Average Number of Children

1.52

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

23.2 %

High school certificate or equivalent

38.96 %

Apprenticeship trade certificate/diploma

7.35 %

College/non-university certificate

16.98 %

University certificate (below bachelor)

0.31 %

University Degree

13.2 %

Commuter

Travel To Work

By Car

75.24 %

By Public Transit

6.54 %

By Walking

11.42 %

By Bicycle

0.71 %

By Other Methods

6.09 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

55.06 %

Houses

44.94 %

Own Vs. Rent

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The property information on this website is derived from Royal LePage listings and the Canadian Real Estate Association's Data Distribution Facility (DDF®). DDF® references real estate listings held by brokerage firms other than Royal LePage and its franchisees. The accuracy of information is not guaranteed and should be independently verified. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies the REALTOR.ca Data Distribution Facility (DDF®).
*All offices are independently owned and operated. Those offices marked as “Royal LePage® Real Estate Services Ltd., Brokerage”, including its “Johnston & Daniel®” division, “Royal LePage® Credit Valley Real Estate, Brokerage”, “Royal LePage® West Real Estate Services”, “Royal LePage® Sussex”, and “Les Immeubles Mont-Tremblant / Mont-Tremblant Real Estate” are owned and operated by Bridgemarq Real Estate Services®.
The MLS® mark and associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

Royal LePage® is a registered Trademark of Royal Bank of Canada and is used under license by Bridgemarq Real Estate Services®.

Bridgemarq® & Design / Bridgemarq Real Estate Services® are registered Trademarks of Residential Income Fund L.P. and are used under licence by Bridgemarq Real Estate Services® Inc.

The data relating to real estate on this web site comes in part from the MLS® Reciprocity program of the Greater Vancouver REALTORS®, the Fraser Valley Real Estate Board or Chilliwack & District Real Estate Board. Real estate listings held by participating real estate firms are marked with the MLS® Reciprocity logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the Greater Vancouver REALTORS®, the Fraser Valley Real Estate Board or Chilliwack & District Real Estate Board which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of the Greater Vancouver REALTORS®, the Fraser Valley Real Estate Board or Chilliwack & District Real Estate Board.