List Price: $739,000 Floor Area: 1745 Unit: 6 bed, 3 bath Taxes: $3,500 MLS: V986596
Ever consider purchasing a home with a mortgage helper that pays half the bill? This is the place to do just that. The duplex has 6 bedrooms with the option of having the lower suite as a 2 or 3-bedroom unit. It has private access to the back yard and one garage parking stall. More than one car? No problem, there is plenty of street parking available for residents and guests.
Built in 2005 and renovated in 2009, some additional improvements could be made to increase the value. Adding a separate entrance walkway and making minor improvements to the lower suite are a couple of examples.
Currently listed at below assessed value, a buyer would be sure to find value in the property. Enjoy as a 2-story home or two separate condos, with yard access.
PROS
- Option to have a 2 or 3 bedroom mortgage helper.
- Newer building
- Access to major road ways (Fraser, SE Marine Dr, Knight, Cambie, Main)
- Rooms decent in size
- Lots of street parking
- Private access to the backyard
- Access to a garage
CONS
- Lots of stairs
- Some work still to be done to elevate the overall aesthetics
- Higher property taxes
- Although close to many parks and shopping areas, the area is not as desirable as other family communities in Vancouver
MORTGAGE DETAILS
Based on 2.99%; List Price: $739,000
High Ratio Loan (less than 20% down payment); 25-year amortization Down Payment (5%): $36,950.00 CMCH fees: $19,306.38 Total loan: $721,356.38 Amortization: 25 years Payment: $3,410.09 Approximate income required: $142,500
Conventional Loan (20% or more down payment); 30-year amortization Down Payment: (20%) $147,800.00 Total Loan: $591,200.00 Amortization: 30 years Monthly payment: $2,483.46 Approximate income required: $108,000
From my home to yours - Irene
