#21 – 6089 Truedale Rd, Duncan BC
3br 1.5 bath 3 level townhouse
Purchased February 2004 @ $88,600
Sold November 2007 @ $145,000 net of commissions and closing costs
Down payment $23,400
Mortgage $65,200
Just the numbers:
| Avg monthly rent over 4yrs | ||||||
| Rental income | 753 | |||||
| Property management | (46) | |||||
| Property taxes | (92) | |||||
| Repairs and maintenance’ | (165) | |||||
| Office & caretaker | (32) | |||||
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| Operating income | 418 | 5.7% | NOI | |||
| mortgage payment | (268) | |||||
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| Cash flow | 150 | 7.7% | cash on cash return yearly | |||
| Mortgage paid down | 133 | |||||
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| Net income | 283 | 14.5% | return on equity | |||
Return on investment : 297% (capital gain $56,477 + $283/mo x 46 months ÷ dp $23,394)
Annualized 77.6%
NOI, cash on cash, return on equity based on average 12 month figures.