- $360,000 fluctuates between 7-8 people.
- Holding company owns all but Mint Street
- 3,400 square feet
- rent is $3,200 triple net
- appraised at $500,000 in 2011 by Red River Appraisals
- management of 6% and maintenance contingency 6% of rent
leaves $34,096
- $450,000 value = 7.5% Actual Return on Investment, plus uptick in value
- historical and recent trends would suggest uptick of 5% in property value giving owners a total ROI in the range of 12%
- total rents are $84,740 therefore management would be $5,084 per year at 6%
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__ BD, ____ft² House
6 Mint Street
Morden,
Manitoba |
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- $160,000 (2008)
$3,200 taxes plus $800 insurance = $4,000 on value of $180,000
- rent is
$14,300 = net of $10,300 after taxes
- maintenance on all but structure
is done by tenant because of favourable rate
- 5.70% actual return on
$180,000 investment with uptick in value of between 3% and 6% yearly
- total ROI if uptick in value continues = 10% range
Owner Occupied House
429 Birchwood Drive
Morden,
Manitoba
$175,000 |
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- neighbour is mirror that sold for
$220,000 spring of 2010
since then houses have not gone down but
in fact have gone up in value
- east side is empty lot that is
probably never going to be built on
- big church behind, so very quiet
- $1,200 per month with owner paying
insurance and taxes
- renter paying appliances and
utilities
- renter must have tenant insurance
and do small repairs
- $800 insurance plus $2,750 taxes -
$600 per year repair contingency
- $10,250 4.5% Return on Investment
at $225,000 value
- there seems to be appreciation of
3% to 6% on housing in Morden - even over the past 2 years
- expectation of total ROI over time
to be in the 7% to 10% range if uptick in value continues
Historic 1890
Fieldstone Commercial Building
522 Stephen Street
Morden,
Manitoba |
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- purchased for $150,000
- 1,960
ft² on two floors plus back addition on ground floor
- next to
library
- historic 1885 fieldstone
construction
- zoned both commercial or residential
- includes vacant lot to west
- best use would be 3 to 4
employee company. Up to 6 people
- generally rent is $8 to $10
per square foot per month all in
- $17,640 at $9 per sq. ft. Triple Net
- 7.5% to 8.5%
ROI at $200,000 value
- fully renovated and upgraded
- calculating 6% for
contingency on maintenance and another 6% for property management leaves
$15,532 or a 7.5% return on a $200,000 investment
- recent and historical trends
would suggest a 5% uptick in value resulting in a Total ROI in the
range of 12%
- conclusion could be made that the property is therefore
worth $200,000
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