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Ontario
Chatham
118 RIVERVIEW DRIVE Unit# 412

$189,000

2 Beds

1 Bath

FEETSQ sqft

QuickQuote^TM: $153K - $205K

118 RIVERVIEW DRIVE Unit# 412, Chatham, Ontario, N7M 1A5

Chatham ON, N7M 1A5

MLS® # 25005497

Property Information:

Don't miss this Great investment opportunity or affordable, maintenance-free living at #412-118 Riverview Drive, Chatham, Ontario! This condo Unit features 2 generous sized bedrooms, 4 PC bath, a spacious living room, separate dining area with new carpet installed Feb 2025, large windows for tons of natural light and spacious storage closets. Same floor, shared laundry. With low condo fees that include heat, hydro, and water, ($447.68/month), this is hassle-free, maintenance free living at its best. Ample parking and great outdoor common area for your outdoor enjoyment. Located on a bus route and close to St Clair College, Tim Hortons, Restaurants, and Cascades Casino. For added security, an on-site building manager. Buyer agrees to assume the tenants at the time of closing. Current Rent is $1252.64 Minimum 24 hour notice required for all showings. (id:27)

Building Features:

Style: Apartment
Building Type: Apartment
Exterior Finish: Brick
Flooring Type: Carpeted, Laminate
Foundation Type: Concrete
Heating Type: Baseboard heaters, Boiler
Heating Fuel:

Property Features:

OwnershipType: Condominium/Strata
Property Type: Single Family
Bedrooms: 2
Bathrooms: 1
Condo Fees: $447 Monthly
Irregular: Yes
Landscape Features: Landscaped
Lot Size: 0X
MaintenanceFee Type: Exterior Maintenance, Heat, Hydro, Water
Zoning: RM2
Parking Type: Open
No. of Parking Spaces: 2

Rooms:

Bedroom Main Level 3.66 m x 2.74 m
Bedroom Main Level 3.66 m x 2.74 m
Primary Bedroom Main Level 3.66 m x 3.05 m
Bathroom Main Level 2.13 m x 1.52 m
Kitchen Main Level 2.13 m x 1.83 m
Dining Main Level 2.74 m x 2.13 m
Living Main Level 6.10 m x 3.35 m

Convert Measurement to:

Courtesy of: CENTURY 21 MAPLE CITY REALTY LTD. Brokerage

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Potential Investment Performance

Cumulative ROI

135.8%

Cumulative Market Appreciation

$52,217

Net Operating Income in Year 5

$12,040

Cash on Cash Return in Year 5

4.7%

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 %	$37,800
Mortgage Amount	$151,200
Mortgage Payment %	$784

Cash Flow Calculator

monthly

yearly

Income
Gross Rental Income Powered By	$
Vacancy Rate %	$
Other	$
Gross Operating Income	$1,604

Operating Expenses
Management Fees %	$
Property Tax	$
Repair Reserve %	$
Insurance	$
Condo/Strata Fees	$
Total Operating Expenses	$741
Net Operating Income	$863

Debt Service
Mortgage Payment	$784

Net Cash Flow	$78

Cap Rate

5.48%

Acquistion Costs

Down Payment $37,800

Land Transfer Tax $1,615

Legal Fees $1,500

Adjustments $0

Appraisal $500

Total Acquisition Costs $41,415

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	$37,800	-	-	-	-	-	-	-	-	-
Closing Costs	$3,615	-	-	-	-	-	-	-	-	-
Mortgage Paydown	$2,352	$2,465	$2,584	$2,708	$2,838	$2,974	$3,117	$3,267	$3,424	$3,589
Total	$43,767	$2,465	$2,584	$2,708	$2,838	$2,974	$3,117	$3,267	$3,424	$3,589
Cash Invested	$43,767	$46,233	$48,817	$51,525	$54,363	$57,338	$60,456	$63,724	$67,149	$70,738

Rental Cash Flows
Rent and other income	$19,249	$19,827	$20,422	$21,034	$21,665	$22,315	$22,985	$23,674	$24,385	$25,116
Operating Expenses	-$8,892	-$9,090	-$9,292	-$9,499	-$9,711	-$9,927	-$10,149	-$10,376	-$10,607	-$10,845
Mortgage Payment	-$9,414	-$9,414	-$9,414	-$9,414	-$9,414	-$9,414	-$9,414	-$9,414	-$9,414	-$9,414
Net Cash Flow	$943	$1,322	$1,715	$2,121	$2,540	$2,973	$3,421	$3,884	$4,363	$4,857

Returns
Property Price Appreciation	$9,450	$9,922	$10,418	$10,939	$11,486	$12,060	$12,663	$13,297	$13,961	$14,660
Mortgage Paydown	$2,352	$2,465	$2,584	$2,708	$2,838	$2,974	$3,117	$3,267	$3,424	$3,589
Net Cash Flow	$943	$1,322	$1,715	$2,121	$2,540	$2,973	$3,421	$3,884	$4,363	$4,857
Total Return	$12,745	$13,710	$14,718	$15,769	$16,865	$18,009	$19,203	$20,449	$21,749	$23,106
Cumulative Return	$12,745	$26,456	$41,174	$56,943	$73,809	$91,819	$111,022	$131,472	$153,222	$176,329

Investment Metrics
Cumulative ROI	29.1%	57.2%	84.3%	110.5%	135.8%	160.1%	183.6%	206.3%	228.2%	249.3%
Cash On Cash	2.2%	2.9%	3.5%	4.1%	4.7%	5.2%	5.7%	6.1%	6.5%	6.9%