St. John's Real Estate Blog » investment property

Investment property in St. John’s near Memorial University of Newfoundland – 39 Weymouth

Stephen Winters — Thu, 15 Jul 2010 15:54:19 +0000

Great investment property on the doorstep of Memorial University of Newfoundland (MUN). 39 Weymouth is a 2400 sqft fully developed 3 bedroom bungalow with a 2 bedroom inlaw suite in the basement. Within the past few years there have been numerous upgrades including new vinyl siding, vinyl windows and shingles. Hardwood floors throughout most of the main floor. Open concept family room / dining room separated by a wood burning fireplace. There is a large deck and mature trees providing lots of privacy in the backyard. Close to Health Sciences, MUN and the Avalon Mall. Asking price is $314,900 MLS: 156488

New home for sale in Cowan Heights – 15 Harrington Drive

Stephen Winters — Fri, 18 Jun 2010 00:21:01 +0000

Fraser and Stephen Winters have just listed a very well cared for 2-apt home in Cowan Heights with a favorable open concept layout. 15 Harrington Drive has hardwood and ceramic floors throughout the main unit. Country style kitchen with oak cabinets, center island and separate dining room. The family room is very bright and spacious. The main unit has a large rec-room complete with hardwood flooring as well as a laundry/storage room and half bathroom. The oversized bedroom in the basement apartment will be easy to rent. Once again you will find the apartment to be open concept and bright like the main floor unit. Basement apartment has its own laundry. The back yard includes a two tier pressure treated patio, is fully fenced and nicely landscaped. There is a detached 12×20 wired garage. Time to get into this booming St. John’s Real Estate market. This home will make a great investment property. Asking price is $299,900. MLS 155475

House for Sale in West End St. John’s – 24 Barachois Street

Stephen Winters — Wed, 09 Jun 2010 12:00:35 +0000

**SALE PENDING** Fraser and Stephen Winters have just listed 24 Barachois Street. Located in the west end of St. John’s, this 2 + 1 bedroom end unit has MANY upgrades. It is freshly painted from top to bottom. Has new flooring throughout entire home. New lighting fixtures installed throughout. Even has a new hot water boiler. There is nothing to do but move right in. Excellent home for a first time buyer or used as an investment property. Close to the Village mall. Vinyl windows and vinyl siding. $35 a month condo fee. MLS: 155060 Asking price is $174,900

For a virtual tour of 24 Barachois Street click here

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 $269,900. **SALE PENDING**

New Listing near Memorial University and Avalon Mall – 12 Keane Place

Stephen Winters — Thu, 04 Mar 2010 16:32:40 +0000

**SALE PENDING** Fraser and Stephen Winters have a new listing in St. John’s – 12 Keane Place. A well cared for multi level, 3 bedroom townhome in an ideal location close to Taxation Centre, Memorial University and Avalon Mall. New carpet and laminate flooring throughout majority of home. Vinyl windows and vinyl siding. Eat-in kitchen with door to patio deck. Separate family room on main floor. Basement is developed. House size is approximately 1500sqft. MLS Number: 151781 Asking price is $139,900. Could make for an ideal investment property as similar houses in the area have rented for $900.

Virtual Tour of 12 Keane Place – Click here

Changes made to Canadian Mortgages

Stephen Winters — Wed, 17 Feb 2010 12:17:04 +0000

April 19th is the deadline for the old mortgage rules. After this, the new changes proposed by the Canadian government earlier this week will be in effect. Personally I think the rules are a good move from the governments part and in the long run protect Canadians from taking on additional debt. As well, for those thinking we are in a housing bubble it should assist in slowing the pace a little.

Starting April 19th, the new mortgage rules are as follows:

1) All new borrowers will have to meet standards for the 5 year fixed-rate mortgages even if they’re seeking a shorter, variable-rate loan.

2) The maximum amount Canadians can withdraw when refinancing is now 90% of the value of their homes down from the current 95 per cent. It’s a good idea to personally cap this at 80% – if you go over 80%, CMHC fees are applicable.

3) For those interested in an investment property, you will be required to have a 20% down payment for government-backed mortgage insurance on speculative investment properties.

The third rule change seems to be the harshest of the three as there are a number of people interested in buying investment properties for the long term (ie for retirement). It’s a big price hike for a down payment on an investment property now. An average 2-apartment home in St. John’s is around $250,000. This means a purchaser would need $50,000 for the down payment. Again, the 20% will help avoid your CHMC fees when purchasing an investment property.

What are your thoughts for the new upcoming changes in Canada’s mortgage rules?

New Listing in Pleasantville near Quidi Vidi Lake – 3 Arnold’s Loop

Stephen Winters — Mon, 23 Nov 2009 13:20:14 +0000

**SOLD**Fraser and Stephen Winters just listed an extremely well looked after property located in Pleasantville, in the east end St. John’s. Three bedrooms, 1 and a half bathrooms. Hardwood floors throughout most of the home. Property is heated with an electric hot water radiation system providing very low monthly heating bills. Located within walking distance to Quidi Vidi Lake (walking trails) and downtown St. John’s. The Metro Bus passes right in front of the property. Front and rear garden well maintained. Ideal home as an investment property or for a first time buyer. Asking price is $169,900.

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

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

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?