Address: 21 Janet, Kensington Bailey, Buffalo Type: Duplex Sale Price: $49,500 Gross Yield: 25%
This more recently built double unit house is in a good owner occupier area close to the popular suburb of Cheektowaga.
Legals – $800 Vendor Financing – 5 year loan of 30% @ 10% interest – $14,850 loan, with monthly repayments of $371 ($247 amortisation and $124 interest) Total Cost to Buyer – $35,450 Gross Monthly Rent $1025 Monthly Costs $254 Net Monthly Rent $771 – 112 management = $659
IRR in first year assuming no capital growth – Net Income / Cost = 20% IRR after 5 years assuming no capital growth – Net Income/Cost = 99%
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