NEED CASHFLOW - $411.00 PER WEEK

Listing Number:  1378
Posting Date:  20 February 2009






 
Price:$350,000
Listing:NEED CASHFLOW - $411.00 PER WEEK
Type:Home and Income
Category:Double Settlement
Bedrooms:6+
Bathrooms:2
Region:Taranaki
Site Area: 
Address: Login
Building Area: 
Property Image

Description:

This property is a Nine bedroom rent by the room
property that is currently fully tenanted.
It is nice looking property with a recent
coat of paint, but could do with some cosmetic
work inside over the coming years.

The property currently has 8 rooms that
all have sitting tenants it also includes a fully
lined garage that also has a tenant.

The property has a large kitchen area and a
huge lounge, as well as two bathrooms.

This really is a set and forget property and best
of all there's no renovation to do.

Here are the numbers ....

Purchase price $350,000


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Income $1,130 per week

Gross rental Income $58,760


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Less Expenses

4 weeks vacancy $4,520
Rates $1,509
Insurance $1,000
Management (@ 8%) $5,288
Phone/Power $4,100

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Total Expenses $16,417

Net Income $42,343

Net Return 12%

So lets assume you borrow 100% of the purchase
price.

That's $350,000 at say 5.99% which will make
your repayments $403 per week.

And your income after all costs comes to $814
per week so the Cash flow from this property will
put $411 Per week into your pocket!

That's some great cash flow of $21,386 PA.

As usual I'm sure this deal will go very quickly
so email me back straight away to get your chance
to buy this cash cow.


dennis@wfp.co.nz
021-721960


Additional Documents:

Click to Download
Description: Property 9 year Analysis
File Size: 60 Kilobytes
Click to Download
Description: Property Summary Worksheet
File Size: 14 Kilobytes