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Royal LePage
Royal LePage
$499,000

42 RICHARD STREET, Chatham-Kent, Ontario, N0P 2C0

QuickQuoteTM: $421K - $565K
MLS® # X11971899

3+2 Beds

2 Baths

1099.9909 - 1499.9875 FEETSQ sqft

MULTIMEDIA

Property Information:

Discover your dream home at 42 Richard Street, Ridge town! This beautifully renovated 3+2 bedroom, property boasts a brand new roof, furnace, kitchen, and fresh updates throughout. nestled in a peaceful cul-de-sac, This home is a must see. Don't miss this incredible opportunity! *For Additional Property Details Click The Brochure Icon Below* (id:27)

Building Features:

  • Style: Detached
  • Building Type: House
  • Basement Development: Finished
  • Basement Type: N/A
  • Construction Style - Attachment: Detached
  • Exterior Finish: Brick
  • Fireplace: Yes
  • Floor Space: 1099.9909 - 1499.9875 sqft
  • Foundation Type: Concrete
  • Heating Type: Forced air
  • Heating Fuel: Natural gas
  • Cooling Type: Central air conditioning

Property Features:

  • OwnershipType: Freehold
  • Property Type: Single Family
  • Bedrooms: 3+2
  • Bathrooms: 2
  • Floor Space (approx): 1099.9909 - 1499.9875 Square Feet
  • Irregular: Yes
  • Lot Frontage: 60.1 Feet
  • Lot Size: 60.1 FT
  • Utility Type: Cable - Available, Sewer - Installed
  • Parking Type: Attached garage
  • No. of Parking Spaces: 6

Rooms:

  • Foyer Main Level 4.69 m x 2.72 m
  • Bathroom Main Level 3.16 m x 2.74 m
  • Bedroom Main Level 4.87 m x 4.24 m
  • 2nd Bedroom Main Level 3.84 m x 3.69 m
  • 3rd Bedroom Main Level 3.65 m x 3.17 m
  • Kitchen Main Level 8.68 m x 4.20 m

Convert Measurement to:


Courtesy of: ICI SOURCE REAL ASSET SERVICES INC.

REALTOR.ca  

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Potential Investment Performance

Cumulative ROI

129.8%

Cumulative Market Appreciation

$137,864

Net Operating Income in Year 5

$29,367

Cash on Cash Return in Year 5

3.0%

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
%
$99,800
Mortgage Amount $399,200
Mortgage Payment
%
$2,071

Cash Flow Calculator

monthly
yearly
Income
Gross Rental Income
Powered By
$
Vacancy Rate
%
$
Other
$
Gross Operating Income $2,890
Operating Expenses
Management Fees
%
$
Property Tax
$
Repair Reserve
%
$
Insurance
$
Total Operating Expenses $744
Net Operating Income $2,145
Debt Service
Mortgage Payment $2,071
Net Cash Flow $74

Cap Rate

5.16%

Acquistion Costs

Down Payment $99,800
Land Transfer Tax $6,455
Legal Fees $1,500
Adjustments $0
Appraisal $500
Total Acquisition Costs $108,255

Components of Return

Potential Returns

Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 10
Investments
Down Payment $99,800 - - - - - - - - -
Closing Costs $8,455 - - - - - - - - -
Mortgage Paydown $6,211$6,509$6,822$7,150$7,494$7,854$8,231$8,627$9,042$9,476
Total $114,466$6,509$6,822$7,150$7,494$7,854$8,231$8,627$9,042$9,476
Cash Invested $114,466$120,975$127,798$134,948$142,442$150,297$158,528$167,156$176,198$185,675
Rental Cash Flows
Rent and other income $34,682$35,723$36,795$37,898$39,035$40,206$41,413$42,655$43,935$45,253
Operating Expenses -$8,932-$9,157-$9,388-$9,625-$9,868-$10,118-$10,374-$10,637-$10,907-$11,184
Mortgage Payment -$24,855-$24,855-$24,855-$24,855-$24,855-$24,855-$24,855-$24,855-$24,855-$24,855
Net Cash Flow $895$1,710$2,551$3,418$4,311$5,233$6,183$7,162$8,172$9,213
Returns
Property Price Appreciation $24,950$26,197$27,507$28,882$30,326$31,843$33,435$35,107$36,862$38,705
Mortgage Paydown $6,211$6,509$6,822$7,150$7,494$7,854$8,231$8,627$9,042$9,476
Net Cash Flow $895$1,710$2,551$3,418$4,311$5,233$6,183$7,162$8,172$9,213
Total Return $32,056$34,417$36,881$39,451$42,132$44,930$47,850$50,897$54,076$57,395
Cumulative Return $32,056$66,474$103,355$142,806$184,939$229,870$277,720$328,617$382,694$440,090
Investment Metrics
Cumulative ROI 28.0% 54.9% 80.9% 105.8% 129.8% 152.9% 175.2% 196.6% 217.2% 237.0%
Cash On Cash 0.8% 1.4% 2.0% 2.5% 3.0% 3.5% 3.9% 4.3% 4.6% 5.0%
QuickQuoteTM Powered by RPS
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Market Price Trends

All Properties

3.37%

Price change (1 year)

43.66%

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 42 RICHARD STREET, Chatham-Kent, Ontario, N0P 2C0

Demographic Information of 42 RICHARD STREET, Chatham-Kent, Ontario, N0P 2C0

Life Stage

Families with Tweens

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$93,184.94

Average Number of Children

1.70

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

19.4 %

High school certificate or equivalent

35.51 %

Apprenticeship trade certificate/diploma

6.43 %

College/non-university certificate

24.83 %

University certificate (below bachelor)

2.59 %

University Degree

11.25 %

Commuter

Travel To Work

By Car

94.44 %

By Public Transit

0.0 %

By Walking

5.23 %

By Bicycle

0.0 %

By Other Methods

0.33 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

12.23 %

Houses

87.77 %

Own Vs. Rent

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