Opportunities at 1 Beatty Ave: A Smart Investment Choice

Opportunities at 1 Beatty Ave: A Smart Investment Choice

View MLS Listing By Clicking Here: 1 Beatty Ave

Welcome to 1 Beatty Ave, where the potential for a solid investment meets the charm of a well-located property. Whether you're thinking of buying the house as it currently stands or enhancing its value with a rental unit, we've outlined the financial details for both scenarios to help you make an informed decision.

Buying As-Is

If you're looking to move right in, here’s what you need to know about purchasing 1 Beatty Ave without any changes:

• Purchase Price: $799,900
• Minimum Down Payment: $55,000
• Mortgage Details: $776,185 (includes a CMHC fee of $3,819.35)
• Income Requirement: $160,000 annually
• Monthly Mortgage Payment: About $3,730.54
• Loan Term: 30 years at an interest rate of 4.09%

This option is ideal if you're searching for a home that's ready to go, with straightforward financing and a clear path to ownership.

Enhancing with a Basement Apartment

Thinking about maximizing your investment? Adding a basement apartment can be a game changer:

• Revised Purchase Price (with Renovations): $900,000
• Minimum Down Payment: $65,000
• Mortgage Details: $870,070 (includes a CMHC fee of $35,070)
• Income Requirement: $142,000 annually
• Monthly Mortgage Payment: About $4,281.32
• Loan Term: 30 years at an interest rate of 4.29%
• Additional Income: $2,000 per month from renting the basement

By adding a rental unit, you effectively reduce your monthly mortgage burden, nearly halving it when you factor in the rental income. This smart strategy enhances the property’s value and eases your financial commitments.

Final Thoughts

1 Beatty Ave presents two appealing options for prospective buyers: a ready-to-live property or a smart investment with income potential through a rental unit. Each path offers its own benefits, making this property a promising choice for achieving your financial and personal goals. Dive into the potential 1 Beatty Ave has to offer and make a move towards a savvy investment in your future.