$350,000 Investment with +Cash Flow at North York SubwayBy CondoWong Friday February 1, 2019
With the rising condo prices in Toronto, it has been difficult to find a condo investment that meets all of the following requirements:
- Purchase Price: Below $400,000
- Down Payment: Below $150,000
- Self-Run: Rental income covers all the expenses including mortgage payments, rental management fees, etc.
- Prime Location: If not downtown, then along the subway line
Finally, I found one project that not only meet all of the above requirements but exceeds them by offering exceptional suite finishes and amenities that are nowhere else to be found in Toronto. The standard suite finishes are of higher quality than Shangri-La Private Residences.
Cash Flow – The Numbers
Let’s take a look at the numbers first. A studio unit of size 325 sq.ft. + 63 sq.ft. balcony starts at $350,000.
You need to have $70,000 readily available and save up another $70,000 in the next 4 years in order to participate in this investment.
The minimum projected rent for this unit would be $1,800 per month. With a 65% mortgage at a 4% rate (the current market rate is around 3.5%) and 25 years amortization, you would be looking at a monthly cash flow of $113.82.
Monthly Cash Flow = +$113.82
You have invested $140,000 and the investment goes into self-run mode for 25 years. Once the mortgage is done, the investment becomes an income-generating asset feeding you an income of at least $1,800 per month.
The numbers are already enough to justify this investment but there’s more! If you look at the location, suite finishes and the amenities, you’ll realize that the value you get exceeds the price you pay – King’s Landing.
King’s Landing, a 3-tower condo project, is part of the 45-acre master planned development Concord Park Place situated in between 2 subway stations, Bessarion and Leslie Stations. King’s Landing is literally steps away (less than 1-minute walk) from the Bessarion subway station. Check out this video for a site visit:
The standard suite finishes are simply amazing, and I really mean it. It’s hard to describe amazing in words, so I encourage you to visit the model home to see, touch and feel the finishes. If you are interested in visiting the best high-end model home in town, I’m more than happy to bring you over! Just let me know the date and time you would like to go, and I’ll make the arrangements.
In my opinion, it is fair to say that the suite finishes in King’s Landing are better than Shangri La Toronto Private Residences:
Just a few quick looks at the amenities:
The Grand Ballroom
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The King's Landing Package
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