daveto
Active Member
I was trolling around MLS and noticed a lot of new listings from a couple of the new condos downtown (55 Stewart and 21 Nelson)
21 Nelson has 15 units for lease, 18 for sale, and 3 for either/or
http://www.realtor.ca/PropertyResul...elson&mp=0-0-0&mrt=0-0-4&trt=1&of=1&ps=50&o=A
Note that the ROE implicit in the 3 units for lease/sale range from 3.8% to 4.8% (presuming the lease/sale $ amounts are accurate). For the Annual Net figure, I've simply subtracted the condo fees and $1200 estimated taxes. So it's a generous estimate as it presumes 100% occupancy and no other costs)
Unit /Monthly /Annual Net /Sale Price /ROE
#407 /$1375 /$12.45k /$295k /4.2%
#403 /$1800 /$15.55k /$410k /3.8%
#723 /$2100 /$20.16k /$420k /4.8%
55 Stewart has 14 units for lease, and 1 unit for sale.
http://www.realtor.ca/PropertyResul...ewart&mp=0-0-0&mrt=0-0-4&trt=1&of=1&ps=25&o=A
There's been a lot of talk of what will happen as numerous condos come online this year. It'll be interesting to see how this plays out, and whether the market can digest these units or not.
21 Nelson has 15 units for lease, 18 for sale, and 3 for either/or
http://www.realtor.ca/PropertyResul...elson&mp=0-0-0&mrt=0-0-4&trt=1&of=1&ps=50&o=A
Note that the ROE implicit in the 3 units for lease/sale range from 3.8% to 4.8% (presuming the lease/sale $ amounts are accurate). For the Annual Net figure, I've simply subtracted the condo fees and $1200 estimated taxes. So it's a generous estimate as it presumes 100% occupancy and no other costs)
Unit /Monthly /Annual Net /Sale Price /ROE
#407 /$1375 /$12.45k /$295k /4.2%
#403 /$1800 /$15.55k /$410k /3.8%
#723 /$2100 /$20.16k /$420k /4.8%
55 Stewart has 14 units for lease, and 1 unit for sale.
http://www.realtor.ca/PropertyResul...ewart&mp=0-0-0&mrt=0-0-4&trt=1&of=1&ps=25&o=A
There's been a lot of talk of what will happen as numerous condos come online this year. It'll be interesting to see how this plays out, and whether the market can digest these units or not.