712 9 Avenue South
Lethbridge, Alberta T1J1T5
4 beds• 3 baths• 1,497 sqft
Description
Now is your opportunity to purchase a revenue generating property featuring three suites and a garage. The main floor and basement floor are long-term renters (13 and 9 years respectively) and would love to stay, while the third tenant has been in place for 18 months.Major updates include a roof replaced approximately 11 years ago, a high-efficiency furnace installed 12 years ago, and two hot water tanks replaced 7 years ago.This property offers a great opportunity for a first-time landlord or an investor looking to expand their portfolio. The upper and basement suites are non-conforming, and each unit has its own separate entrance. Laundry is located in the basement and is shared between the main floor and basement tenants, while the upper tenant currently uses a laundromat.Don’t miss out! contact your favorite Realtor today to book a showing! (id:39198)
Facts & Features
● Building Type
House
● Year built
1949
● Square Footage
1,497 sqft
● Stories
1.5
● Bedrooms
4
● Bathrooms
3
● Parking
2
● Neighbourhood
London Road
● Land size
--
● Heating type
Natural gas, Central heating
● Basement type
Partially finished, Partial, Separate entrance, Walk-up, Suite
● Parking Type
--
● Time on REALTOR.ca
2 days
Brokerage Name: REAL BROKER
Home price
$425,000
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
$3,869/month
The payment includes
Rent
$3,325
Rent is rent and it won't be deducted from the buyback price.
Monthly Savings
$544
Each month, $544 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
$491,991
Cumulative Down Payment
$24,600
• Initial Deposit
$5,000
• Monthly Savings x 36 months
$19,600
Buyback Price
$446,250
Cumulative Down Payment
$11,533
• Initial Deposit
$5,000
• Monthly Savings x 12 months
$6,533
Buyback Price
$468,563
Cumulative Down Payment
$18,066
• Initial Deposit
$5,000
• Monthly Savings x 24 months
$13,066
Buyback Price
$491,991
Cumulative Down Payment
$24,600
• Initial Deposit
$5,000
• Monthly Savings x 36 months
$19,600
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
$3,869/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
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