7720 Patterson Drive
Grande Prairie, Alberta T8V3Z7
2 beds• 2 baths• 779 sqft
Description
Located in convenient Patterson, this up/down property presents a fantastic opportunity for investors or buyers seeking reliable rental income. The home is configured with two fully self-contained suites, upper unit with 2 bedrooms and one bathroom, basement with 1 bedroom & 1 bathroom along with separate heat sources for added comfort and efficiency. The upper suite features updated flooring and a refreshed kitchen and is currently rented month to month at $1,350, while the lower suite is rented for $1,050 month to month. Rent includes all utilities and internet, as the property is not separately metered, creating a simple and attractive setup for both tenants and owners. Both tenants have expressed interest in staying, providing immediate and stable income. Conveniently located close to a bus stop, the property also offers excellent exterior amenities including a carport, a fully fenced yard, and a shed for additional storage. This is a solid income-producing property! Suite is legal non-conforming. (id:39198)
Facts & Features
● Building Type
House
● Year built
1975
● Square Footage
779 sqft
● Stories
1
● Bedrooms
2
● Bathrooms
2
● Parking
2
● Neighbourhood
Patterson Place
● Land size
--
● Heating type
Forced air, Natural gas
● Basement type
Finished, Full, Suite
● Parking Type
--
● Time on REALTOR.ca
7 days
Brokerage Name: Century 21 Grande Prairie Realty Inc.
Home price
$289,900
Initial Deposit
I want to start the program with
an initial down payment of
Minimum 2% of the home price or $5,000 whichever is higher
The higher the initial deposit, the lower the monthly payments
Your Monthly Payment
$2,642/month
The payment includes
Rent
$2,315
Rent is rent and it won't be deducted from the buyback price.
Monthly Savings
$327
Each month, $327 is set aside toward your homeownership goal in addition to your initial down payment. This mandatory monthly savings help you achieve your savings goal.
Buyback
Here is the final price if I buy the house after:
Buyback Price
$335,595
Cumulative Down Payment
$16,780
• Initial Deposit
$5,000
• Monthly Savings x 36 months
$11,780
Buyback Price
$304,395
Cumulative Down Payment
$8,927
• Initial Deposit
$5,000
• Monthly Savings x 12 months
$3,927
Buyback Price
$319,615
Cumulative Down Payment
$12,853
• Initial Deposit
$5,000
• Monthly Savings x 24 months
$7,853
Buyback Price
$335,595
Cumulative Down Payment
$16,780
• Initial Deposit
$5,000
• Monthly Savings x 36 months
$11,780
There is no minimum rental terms. You can buy back the home anytime throughout the 3-year standard rent-to-own term!
Rent-to-Own This Home for
$2,642/month
This home is listed on realtor.ca. Requity Homes doesn‘t own it—yet. But if it fits your budget and meets our criteria, we can buy it for you through our rent-to-own program.
You move in with as little as 2% down. Part of your monthly payment builds your future down payment. You can buy back the home anytime throughout the 3-year standard rent-to-own term!
No Hidden Fees, No Hidden Costs - Requity pays legal fees, title insurance and land transfer tax when Requity buys the home upfront. Client pays for inspection.
Client initial deposit is applied directly to the down payment when clients are ready to buy the home.
Few ways to reduce your monthly payments
• Look at homes with a lower price
• Put down a higher initial down payment
• Sublet the rooms for extra income
Recently Listed Homes in Grande Prairie, AB
Canada’s #1 Rent-to-Own —
Changing The Rules of The Game
A smarter, safer path to homeownership — explained.
Show more FAQsWhat kind of homes do you have?
Is there a down payment required for rent-to-own?
How does the Pricing work?
How does rent-to-own work?
what are the requirements for rent-to-own?
What is the interest rate?
Have Questions About Rent-to-Own? Let's Talk.
Speak to our team about your eligibility, monthly payments, and
next steps toward homeownership.