St. John's Real Estate Blog » St. John’s Investments

Investment property near CONA, MUN and Marine Institute – 156 Higgins Line

Stephen Winters — Sun, 07 Mar 2010 18:23:03 +0000

Fraser and Stephen Winters have just listed 156 Higgins Line. An absolutely fantastic 2-apartment home located on the doorstep to Marine Institute, CONA and MUN. Lots of upgrades in recent years including roof, siding,vinyl windows and laminate flooring. 3 bedrooms in the main unit and 2 bedrooms in the basement apartment. Large open concept dining room adjacent to the living room. Master bedroom has a 2 piece ensuite. Large recroom in basement for the main unit living area. Conveniently locate on bus route. Home is situated on a large deep lot (land goes back further then back fence) a rare find in this area. Great investment property! MLS Number: 151858 Asking price is $277,900.

Little Change in Investment Properties Vacancy rates in St. John’s Metro

Stephen Winters — Mon, 21 Dec 2009 12:18:53 +0000

According to the results of the fall 2009 rental market survey released today by Canada Mortgage and Housing Corporation (CMHC), the vacancy rate in the St. John’s census metropolitan area (CMA) was 0.9 per cent in October compared to a similar 0.8 per cent vacancy rate in 2008. The average two bedroom monthly rent increased to $677. “Solid economic activity and positive employment growth within the St. John’s area sustained rental market demand, resulting in low vacancies and higher rents throughout 2009,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “The local oil industry and a lengthy list of major capital projects continued to stimulate local economic growth and in-migration to the region this year,” added Janes. Provincially, vacancy rates in percentage terms were 0.4 in the Corner Brook census agglomerate (CA), 1.6 in Gander and 1.7 in Grand Falls-Windsor CA. The combined provincial vacancy rate for all centres surveyed was 1.0 per cent.

Home for sale in Cowan Heights – 47 Greenspond Drive

Stephen Winters — Wed, 30 Sep 2009 10:23:16 +0000

Located in the West End of St. John’s in Cowan Heights, this 12 year old two apartment home is in great condition. Vinyl siding, vinyl windows and more more. Eat in kitchen with oak cabinets and door leading to rear patio deck. Main floor unit has three bedrooms and a rec room plus additional 4th bedroom in basement. One bedroom basement apartment has its own laundry room and is currently rented. Property is fully fenced with rear patio and shed. Call Fraser or Stephen Winters for more details or for a viewing. Asking price $249,900 MLS Listing: 148302

West End St. John’s Investment Property For Sale

Stephen Winters — Tue, 29 Sep 2009 10:38:07 +0000

Fraser and Stephen Winters have just listed this two apartment home on 60 Bonavista Street. An excellent investment opportunity in west end St. John’s! There have been lots of upgrades in recent years. The main floor has spacious bedrooms and its own large recroom in basement. One bedroom basement apartment has its own laundry room and separate driveway complete with ground level entrance. The property is fully fenced with a rear patio, mature trees and shed. New MLS Listing 148295. Asking price is $239,900

New listing near Memorial University – 113 Prowse Ave

Stephen Winters — Fri, 11 Sep 2009 11:14:37 +0000

Fraser and Stephen Winters just listed 113 Prowse Ave. This is a nice little three bedroom, two story home within walking distance to the taxation center and Memorial University (MUN) and in close proximity to the Avalon Mall. Most of the main floor is hardwood floors. Family room with propane fireplace and french doors leading to formal dining room. Property is fully fenced and has lots of privacy in the mature back yard. Could make for a great investment property in St. John’s or as a starter home for the first time buyer. Asking price is $174,900

Investment property for sale in Airport Heights St. John’s

Stephen Winters — Sat, 08 Aug 2009 22:14:37 +0000

Just listed on 16 Branscombe Street a registered Two Apartment backing on Pippy Park Golf Course in the popular Airport Heights Subdivision. Large country kitchen with cherry stained oak cabinets. Master has 1/2 bath and walk- in closet. Rec room in basement for main floor. Large 2 bedroom apartment with own laundry. Property is fenced with a 10 x 12 patio deck and a 10 x 12 shed. Asking price is $259,900

New listing near Avalon Mall, MUN and Health Sciences

Stephen Winters — Tue, 07 Jul 2009 10:19:37 +0000

New St. John’s MLS listing – 25 Maclaren Place. Two year old three bedroom home located in Grovesdale Park, near MUN, Health Sciences, and the Avalon Mall. Laminate flooring throughout most of home. Eat-in country style kitchen with patio door leading to pressure treated deck. Main floor laundry and bathroom combo. Large master bedroom with ensuite and walk-in closet. Still under 7 year Atlantic Home Warranty. Baby barn in fully landscaped, partially fenced back yard. Shows pride of ownership. Could make for a great investment property due to the proximity to the university. Call Stephen or Fraser Winters for more info. Asking price $209,900.

Newfoundland Rental Market Vacancy Rates

Stephen Winters — Fri, 12 Jun 2009 11:41:40 +0000

Provincially the rental market for Newfoundland is showing lower vacancy rates. Currently we are sitting at 2% (down 1.2% from last year’s vacancy rate for 3.2%)

The St. John’s rental market posted a vacancy rate of 2.2 per cent versus 3.7 per cent last year. This translates into 80 vacant units out of the 3,668 units surveyed (according to CHMC). With the local labour market remaining healthy, positive net-migration will continue to create rental demand and keep vacancy rates low. As well, with higher housing prices (and expecting to continue to increase) many buyers are being pushed out of the housing market altogether. The demand for for rental is expected to remain strong. Great time to buy an investment property?

Great investment property in East End St. John’s

Stephen Winters — Tue, 05 May 2009 22:13:14 +0000

Just listed 564 Newfoundland Drive. (MLS # 143103). Great income property located next to Portugal Cove Road and Newfoundland Drive, near Marine Institute, CONA and MUN. Spacious main floor with 4 bedrooms plus a 2 bedroom in-law apartment with seperate entrance. Main floor has oak kitchen, large living room / dining room area and master bedroom with ensuite. In-law apartment has a nice oak eat-in kitchen, spacious living room with patio door to backyard deck. Laundry facilities in each unit. Asking price is $232,900. Call Fraser or Stephen Winters for more information.

Check out the virtual tour of 564 Newfoundland Drive.

Two Apartment Home For Sale in East End St. John’s

Stephen Winters — Fri, 27 Feb 2009 23:04:26 +0000

Fraser and Stephen Winters just listed 12 Lancaster Street. Great owner occupied 2 apartment home located in Airport Heights Subdivision in East End St. John’s. Three bedrooms up and two in the basement apartment. Hardwood floors throughout most of main floor. Ceramics in large kitchen. 3 piece ensuite and walkin closet off master. Decent sized family room downstairs for main unit.
Two bedroom basement apartment is in great condition. Very spacious and bright, complete with its own laundry facilities. Currently rented for $700 pou Landscaped and fully fenced. This home is well maintained. A great investment property or live upstairs and help supplement your mortgage. Call Fraser or Stephen Winters for more information. Asking price is $279,900

St. John’s Real Estate Market Overview – Kirkland Balsom & Associates

Stephen Winters — Thu, 22 Jan 2009 09:53:38 +0000

Once again Kirkland Balsom & Associates have released their Real Estate Market Overview 2009. (View the Real Estate Market Overview 2008 edition)

Some of the highlights of the report are:

Great news for people with investment properties and rentals – “Increased economic activity and job opportunities throughout 2008 have pushed residential apartment vacancy rates to less than 1 percent. Rental rates increased an average of 5 percent; however, remain below levels sufficient to warrant new construction. With no significant supply entering the market in over 25 years further rent increases are imminent.”
In referring to 2 – 6 unit properties - “Prices continue to strengthen with much of the activity driven by out-of province investors anticipating growth from enhanced employment and economic spin-off. This trend is expected to continue through 2009.”
“There is an increasing trend towards investors purchasing older apartment buildings and converting them to condominiums. Higher priced condominiums are expected to grow in demand with the aging population in the greater St. John’s region.”
Water taxes in St. John’s will increase by $80 per unit in 2009 to a rate of $520 per year.

An interesting point they mention is to have the assessed value of your home reviewed. With the big jumps in prices last year and the upcoming assessment for property tax for 2010, tax payers can expect to pay more property taxes.

The key questions to ask are as follows:

Is the value assigned to my property above market value as of January 1, 2008?
Is the value assigned fair when compared to similar properties?

Very important especially in the market we saw last year. I know I will be paying particularly close attention to mine. Remember, you only have 30 days to appeal when you receive your assessment. Make sure you call Kirkland Balsom & Associates and have your assessment reviewed.

Read the entire Real Estate Market Overview 2009 Report here