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Royal LePage
Royal LePage
$289,900

53 Spencer AVENUE, Chatham, Ontario, N7M 1V4

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MLS® # 25000507

4 Beds

2 Baths

Property Information:

Attention Investors! Welcome to 53 Spencer Ave, Chatham – a fantastic income-generating opportunity. This 4-bedroom, 1.5-bathroom single-family home is currently rented to a reliable tenant at $2,399/month plus utilities, providing immediate cash flow. Ideal for investors looking to expand their portfolio or first-time landlords seeking a turnkey rental property. The home features a functional layout with generous living space and is conveniently located near schools, amenities, and transportation. Property is being sold ""as-is."" Not holding offers, so act fast. All offers must include Schedule B, available in documents. Don't miss this chance to secure a solid investment property with built-in rental income. (id:27)

Building Features:

  • Style: Detached
  • Building Type: House
  • Exterior Finish:
  • Flooring Type: Laminate
  • Foundation Type: Block
  • Heating Type: Forced air
  • Heating Fuel: Natural gas
  • Cooling Type: Central air conditioning

Property Features:

  • OwnershipType: Freehold
  • Property Type: Single Family
  • Bedrooms: 4
  • Bathrooms: 2
  • Half Bathrooms: 1
  • Features:
  • Irregular: Yes
  • Lot Size: 37.1X102.54
  • Zoning: RL3

Rooms:

  • Bedroom 2nd Level Measurements not available
  • Bedroom 2nd Level Measurements not available
  • Bedroom 2nd Level Measurements not available
  • Bathroom Main Level Measurements not available
  • Bathroom Main Level Measurements not available
  • Laundry Main Level Measurements not available
  • Kitchen Main Level Measurements not available
  • Bedroom Main Level Measurements not available
  • Living Main Level 3.35 m x 4.27 m

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Courtesy of: RE/MAX PREFERRED REALTY LTD.

REALTOR.ca  

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Potential Investment Performance

Cumulative ROI

189.4%

Cumulative Market Appreciation

$80,094

Net Operating Income in Year 5

$27,551

Cash on Cash Return in Year 5

15.6%

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
%
$57,980
Mortgage Amount $231,920
Mortgage Payment
%
$1,203

Cash Flow Calculator

monthly
yearly
Income
Gross Rental Income
Powered By
$
Vacancy Rate
%
$
Other
$
Gross Operating Income $2,639
Operating Expenses
Management Fees
%
$
Property Tax
$
Repair Reserve
%
$
Insurance
$
Total Operating Expenses $623
Net Operating Income $2,016
Debt Service
Mortgage Payment $1,203
Net Cash Flow $812

Cap Rate

8.35%

Acquistion Costs

Down Payment $57,980
Land Transfer Tax $2,823
Legal Fees $1,500
Adjustments $0
Appraisal $500
Total Acquisition Costs $62,803

Components of Return

Potential Returns

Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 10
Investments
Down Payment $57,980 - - - - - - - - -
Closing Costs $4,823 - - - - - - - - -
Mortgage Paydown $3,608$3,781$3,963$4,154$4,353$4,563$4,782$5,012$5,253$5,505
Total $66,411$3,781$3,963$4,154$4,353$4,563$4,782$5,012$5,253$5,505
Cash Invested $66,411$70,193$74,156$78,311$82,664$87,227$92,010$97,022$102,275$107,781
Rental Cash Flows
Rent and other income $31,678$32,628$33,607$34,616$35,654$36,724$37,825$38,960$40,129$41,333
Operating Expenses -$7,485-$7,677-$7,875-$8,077-$8,285-$8,499-$8,718-$8,943-$9,174-$9,411
Mortgage Payment -$14,440-$14,440-$14,440-$14,440-$14,440-$14,440-$14,440-$14,440-$14,440-$14,440
Net Cash Flow $9,752$10,511$11,292$12,098$12,928$13,785$14,667$15,577$16,515$17,481
Returns
Property Price Appreciation $14,495$15,219$15,980$16,779$17,618$18,499$19,424$20,395$21,415$22,486
Mortgage Paydown $3,608$3,781$3,963$4,154$4,353$4,563$4,782$5,012$5,253$5,505
Net Cash Flow $9,752$10,511$11,292$12,098$12,928$13,785$14,667$15,577$16,515$17,481
Total Return $27,856$29,512$31,237$33,032$34,901$36,847$38,874$40,985$43,183$45,473
Cumulative Return $27,856$57,369$88,606$121,638$156,540$193,387$232,262$273,248$316,431$361,905
Investment Metrics
Cumulative ROI 41.9% 81.7% 119.5% 155.3% 189.4% 221.7% 252.4% 281.6% 309.4% 335.8%
Cash On Cash 14.7% 15.0% 15.2% 15.4% 15.6% 15.8% 15.9% 16.1% 16.1% 16.2%
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Market Price Trends

Single family detached

-0.62%

Price change (1 year)

48.12%

Price change (5 years)

All Properties

-0.62%

Price change (1 year)

48.12%

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 53 Spencer AVENUE, Chatham, Ontario, N7M 1V4

Demographic Information of 53 Spencer AVENUE, Chatham, Ontario, N7M 1V4

Life Stage

Midlife Families

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$84,763.78

Average Number of Children

1.88

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

29.67 %

High school certificate or equivalent

37.03 %

Apprenticeship trade certificate/diploma

5.51 %

College/non-university certificate

22.51 %

University Degree

5.28 %

Commuter

Travel To Work

By Car

88.26 %

By Public Transit

2.56 %

By Walking

8.27 %

By Bicycle

0.0 %

By Other Methods

0.91 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

30.27 %

Houses

69.73 %

Own Vs. Rent

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