$245,000

314 10th AVENUE NW, Swift Current, Saskatchewan, S9H 1B6

QuickQuote^TM: $213K - $259K

MLS® # SK970137

5 Beds

2 Baths

Property Information:

Welcome to this charming property located in a cozy northwest neighbourhood. This is an exceptional opportunity for a savvy buyer looking to live up and rent down, or for those seeking a valuable addition to their investment portfolio. Currently generating a total of $1750 per month with tenants paying their own electrical bills. The upstairs suite, consisting of three bedrooms, is currently rented for $1,100 per month. As you step inside, you'll be greeted by a spacious front living room and a modern kitchen situated at the front of the home. The three bedrooms are located across the rear of the home, along with a modern 4-piece washroom. A staircase in the middle of the home leads to the laundry room and utility space, adding convenience to everyday living.The basement suite is filled with natural light, thanks to its large windows. It features an open concept living space, two bedrooms, and a 4-piece washroom. With separate entrances, separate exterior living spaces, shared laundry, and dedicated parking, owning this property is a breeze.The exterior of the property has been thoughtfully maintained. A cozy front deck welcomes you home, while new windows and doors were installed upstairs (and some downstairs) in 2017. New shingles were added in 2023, and the eavestroughs and extensions were replaced in 2017, with modern breathable soffits added for enhanced functionality. The exterior was also painted in 2016, adding significant curb appeal to your investment. One of the advantages of this property is its walkability. It is conveniently located near the downtown core, providing easy access to amenities and services. Additionally, a park is just blocks away, along with a daycare and a K-8 school, making it an ideal location for families.Don't miss out on this incredible opportunity. Contact today for more information or to book your personal viewing. Discover the potential of this property and embrace the benefits of both comfortable living and smart investment. (id:27)

Building Features:

Style: Detached
Building Type: House
Architectural Style: Bungalow
Basement Development: Finished
Basement Type: Full
Heating Type: Forced air
Heating Fuel: Natural gas
Appliances: Washer, Refrigerator, Dishwasher, Dryer, Hood Fan, Storage Shed, Stove

Property Features:

OwnershipType: Freehold
Property Type: Single Family
Bedrooms: 5
Bathrooms: 2
Built in: 1959
Features: Treed
Landscape Features: Lawn
Lot Frontage: 50.0 Feet
Lot Size: 5750.00 Square Feet
Structure Type: Deck
Parking Type: None, Parking Spaces
No. of Parking Spaces: 4

Rooms:

Bedroom Basement Level 12'9 x 9'4
Bedroom Basement Level 12'6 x 12'5
Laundry Basement Level 12'1 x 8'2
Utility Basement Level 6'11 x 9'0
Kitchen Basement Level 10'5 x 12'1
Bathroom Basement Level 6'1 x 6'0
Living Basement Level 12'12 x 14'7
Living Main Level 13'6 x 19'3
Bedroom Main Level 13'5 x 10'9
Bedroom Main Level 9'3 x 10'3
Bedroom Main Level 12'1 x 9'3
Bathroom Main Level 6'10 x 8'9
Kitchen Main Level 9'4 x 12'2
Dining Main Level 7'3 x 9'4
Porch Main Level 7'2 x 6'4

Courtesy of: RE/MAX of Swift Current

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Potential Investment Performance

Cumulative ROI

52.4%

Cumulative Market Appreciation

-$4,860

Net Operating Income in Year 5

$18,128

Cash on Cash Return in Year 5

8.6%

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 %	$49,000
Mortgage Amount	$196,000
Mortgage Payment %	$1,016

Cash Flow Calculator

monthly

yearly

Income
Gross Rental Income Powered By	$
Vacancy Rate %	$
Other	$
Gross Operating Income	$1,819

Operating Expenses
Management Fees %	$
Property Tax	$
Repair Reserve %	$
Insurance	$
Total Operating Expenses	$495
Net Operating Income	$1,323

Debt Service
Mortgage Payment	$1,016

Net Cash Flow	$306

Cap Rate

6.48%

Acquistion Costs

Down Payment $49,000

Land Transfer Tax $0

Legal Fees $1,500

Adjustments $0

Appraisal $500

Total Acquisition Costs $51,000

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	$49,000	-	-	-	-	-	-	-	-	-
Closing Costs	$2,000	-	-	-	-	-	-	-	-	-
Mortgage Paydown	$3,049	$3,196	$3,349	$3,510	$3,679	$3,856	$4,041	$4,235	$4,439	$4,652
Total	$54,049	$3,196	$3,349	$3,510	$3,679	$3,856	$4,041	$4,235	$4,439	$4,652
Cash Invested	$54,049	$57,245	$60,595	$64,106	$67,785	$71,641	$75,683	$79,919	$84,359	$89,012

Rental Cash Flows
Rent and other income	$21,828	$22,483	$23,157	$23,852	$24,568	$25,305	$26,064	$26,846	$27,651	$28,481
Operating Expenses	-$5,949	-$6,097	-$6,249	-$6,405	-$6,565	-$6,730	-$6,898	-$7,071	-$7,248	-$7,431
Mortgage Payment	-$12,203	-$12,203	-$12,203	-$12,203	-$12,203	-$12,203	-$12,203	-$12,203	-$12,203	-$12,203
Net Cash Flow	$3,675	$4,182	$4,704	$5,243	$5,798	$6,371	$6,962	$7,571	$8,199	$8,846

Returns
Property Price Appreciation	-$980	-$976	-$972	-$968	-$964	-$960	-$956	-$952	-$949	-$945
Mortgage Paydown	$3,049	$3,196	$3,349	$3,510	$3,679	$3,856	$4,041	$4,235	$4,439	$4,652
Net Cash Flow	$3,675	$4,182	$4,704	$5,243	$5,798	$6,371	$6,962	$7,571	$8,199	$8,846
Total Return	$5,745	$6,402	$7,082	$7,785	$8,513	$9,267	$10,047	$10,854	$11,689	$12,554
Cumulative Return	$5,745	$12,147	$19,229	$27,014	$35,528	$44,796	$54,843	$65,697	$77,387	$89,941

Investment Metrics
Cumulative ROI	10.6%	21.2%	31.7%	42.1%	52.4%	62.5%	72.5%	82.2%	91.7%	101.0%
Cash On Cash	6.8%	7.3%	7.8%	8.2%	8.6%	8.9%	9.2%	9.5%	9.7%	9.9%