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St. John's Newfoundland is one of North America’s oldest cities. Spectacular coastlines, panoramic views, outdoor adventure, rich history and culture await all who live here.

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Since Chevron signed the multibillion-dollar memorandum of understanding to develop the Hebron offshore oilfield project back in August 2007, St. John's real estate and surrounding areas have gained favorable optimism and increases in residential homes. Looking to sell you home for TOP DOLLAR? Contact Fraser and Stephen Winters for your free, confidential Home Market Evaluation

This real estate blog is written by Fraser & Stephen Winters. We both are full time successful top producing RE/MAX Realtors in St. John's, Newfoundland. The information contained on this website is from sources believed to be reliable. However, it may be incorrect. This information should not be relied upon without personal verification. We assume no responsibility for its accuracy. This information is not intended to solicit clients already under contract. For more information about us visit our website.
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Mount Pearl Real Estate 2-apt

19 Moores Drive

Asking $199,900

Well maintained registered 2-apt home in Mount Pearl off Ruth Ave. Large landscaped lot backing on greenbelt. Large 2 car detached garage with rear yard access. New vinyl windows, new electrical. Basement apartment has 2 bedrooms and is currently rented. Great investment property. Call Fraser or Stephen Winters for more information or a private viewing.

Tags: 2-apt, fraser and stephen winters, greenbelt, investment property, mount plearl, real estate

St. John’s Investment properties have increased - when will the rents?

July 8, 2008 · Filed Under Market Trends, St. John's Investments and St. John's Real Estate · Comment

For the last few years 2-apartment homes have been increasing in demand and in price, particularly in the past 6 months. The majority of investment properties in the St. John’s, Mount Pearl, Paradise real estate market have been selling in days, with multiple offers and selling well over the asking price. This time last year your standard 2-apt home was around $180,000 to $199,000. Currently they are $220,000 to $240,000 (East End St. John’s) and can be built new for approx $260,000.

The bases behind people purchasing a 2-apt is obviously as an investment, to have the rental income greater then the expenses and create a positive cash flow. Last years price of $180,000 your monthly mortgage would be approx $1050 (assuming a 5% mortgage rate). In today’s market, your $240,000 investment mortgage payment is approx $1400. (again assumed 5% interest rate). That’s a $350 dip into your cash flow.

$St. John\'s vacancy Rates$

When will the rents increase locally? I haven’t seen them increase in quite some time. Average rentals are approximately $900 for a main floor 3 bedroom unit and about $600 for a basement apartment. At those rentals, you are left with a $100 positive cash flow and you haven’t included property taxes and other investment property expenses.

Another factor is the average price in St. John’s and surrounding areas have increased for a single dwelling. June MLS stats show the average price for a single dwelling home in St. John’s is approx $190,000, considerable higher then the average price from 2007. First time buyers are being pushed out of the real estate market and are being forced to rent, creating an even further demand for investment properties. St. John’s vacancy rate was 2.6 per cent in December 2007 compared to 5.1 per cent in 2006. (Forecast for 2008 is slightly lower vacancy rate according to CMHC). This marks the first decline in the vacancy rate since 2003 and largely reflects the impact of a decrease in the home ownership rate among first-time buyers and increased economic activity.

It’s only a matter of time….but the rents have to increase.

Tags: at. john's, basement apartments, east end st. john's, investment property, Mount Pearl, multiple offers, positive cash flow, property taxes

New Listing in Mount Pearl 23 St. Andrews Ave

June 16, 2008 · Filed Under New MLS Listings and St. John's Investments · Comment

2 apartment home on a large corner of St. Andrews Ave and First Street in Mount Pearl. Both units currently rented.
Large main unit has 2 bedrooms and undeveloped basement. Apartment is above ground and has two bedrooms. Mostly new Vinyl windows throughout. Some hardwood floor in main apartment. Great investment property. Asking $169,900 Call Fraser or Stephen Winters for a viewing.

Tags: 2 apartment, investment property, Mount Pearl

35 unit Apartment Building for Sale

April 5, 2008 · Filed Under Commerical Real Estate and New MLS Listings · Comment

Looking for a great investment property in Newfoundland? 35 unit commercial apartment building located just 90mins outside St. John’s. Complete with laundry and exercise room, four units and large suite furnished. Each unit metered separately with own hot water tank. Building is equipped with a fire alarm system. Electrical is a three phase 800 amp 208V service. Upgrades over recent years. Paved lot for approximately 40 vehicles. Next door to two senior citizens complexes and near local hospital. Live in and run your own business. A clear phase 1 environmental assessment completed in 2005 and on file. Engineering Inspection completed in 2005 and on file. Asking price is $979,000