All Forum Posts by: Eren Yeager

So I analyzed a property using the Rental Calculator, assuming the property requires no major renovations, so I'm using 0$ for Renos in this analysis. Here's the numbers Breakdown.

261 EAST MAIN ST Welland, Ontario L3C3X1, Welland, Ontario L3C3X1

MLS® Number: X4639056

Initial Cash needed: 

Purchase price: $569,000

Closing costs : $7143

Down Payment (5%) : $28,450 (First time home-buyer)

Amortized Over: 25years

Interest rate: 4.5%

Monthly P&I: $3004

Total cash Needed: $35,593

The advertisement states three units are currently rented at $4700 p.m

Assuming the current situation, the numbers breakdown to $3933 monthly expenses, leaving behind $766 in Cashflow.

Will this be a sensible investment? If anyone else can do the analysis and share the results on the same property, it'll be helpful.

Here's the link to the listing: link