175 Siebert Avenue for Sale in KW- Kitchener/Waterloo

Today I received an email from a friend and realtor I know in Kitchener/ Waterloo. Sean Cuddy from Keller Williams Golden Triangle Realty send me this great live in/ buy and rent investment property. The home listed is actually an updated condo townhouse. It is located near a major highway/ express route and is in a growing city.

175 Siebert Ave.

175 Siebert Ave

Kitchener/ Waterloo/ Cambridge make up the Golden Triangle Area just 45min west of Toronto. The city is called KW because Kitchener and Waterloo have grown so much they basically border each other. Having two universities that are expanding, a major technological hub and employer in Research in Motion (RIM) and throw in a handful of insurance company head quarters and you have a very afluent, well earning population.

The median age of people living in KW is around 30 years old. Majority of people make way over the national salary average. Majority of residents are involved in community and have degrees. Being in the Ontario Green Belt, you have preserved land for farming and great farmers markets. Recent additions to the KW area are an Apple store and a future Walmart (huge sign of positive growth).

Lets look at the 175 Siebert Avenue. It is a 2.5 storey home with three bedrooms and 2 washrooms built in 1982. The owners have kept upgrades as required changing the roof and windows in 2009 along with installing laminate flooring on the main and 2nd floor. The home is priced at $149,000 with a very motivated seller. Here is how the home breaks down.

If you are buying the home to live in, I will use a $140,000 purchase price with 5% down. Use the still allowed 35 year amortization and todays best mortgage rate of 3.81% on a 5 year fixed rate. This means your mortgage payments and expenses look like this:

Purchase price:           $140,000

Downpayment:          $7,000

Mortgage of:              $133,000

Payment:                    $592.91 per month

Taxes:                         $145.25

Heating, etc:             $298.65

Payment Total:     $1036.81 per month

Now lets look at the property from an investor point of view. We have very sturdy long lasting floors and most major reno done, so this is a straight buy and rent. With a large student population a home like this can be rented easily for $1000-$1200 per month. With a $140,000 purchase price and a 20% down payment the property costs would be as follows:

Purchase Price:                 $140,000

Down Payment:                $28,000

Mortgage of:                     $112,000

Payment:                           $487.26

Taxes:                                $145.25

Heating, etc:                    $298.65

Payment Total:            $931.16 per month

That means if you are renting the property for $1200 you are making over $250 per month extra in cash flow. That is $3000 a year, now who couldn’t use that. Oh and did I mention you will have someone paying off your mortgage and getting appreciation just for owning the home. Think about, it makes sense.

To see the full listing please see 175 Siebert Avenue, Kitchener, ON.

To discuss this or any other property you have in mind please give me a call at 416 909 5044 or contact Sean Cuddy at sean@seancuddy.com.

Websites: Sean Cuddy Real EstateMortgage AllianceRIMKeller Williams


About wojciechpianka

After a few years of studying English and History at the University of Toronto, I decided to transfer to Ryerson University and pursue a Bachelor of Commerce degree. While studying, I worked various jobs where I acquired many skills. Starting as a teller at Scotiabank, I moved on to being a manager of a restaurant, admin staff at a medical clinic, a sales agent for INGDirect and a manager at One King West Hotel. While all these jobs challenged me, I never felt my potential being utilized. Finally in 2008, I completed the Ontario Mortgage Agent Course and signed up with The Mortgage Alliance Company of Canada. This was a great decision, as it allowed me to use the skills I learned working to help people achieve their real estate and financial goals. My passion for real estate and numbers has lead me to becoming a mortgage agent. Growing up in New York City, I always had a fascination of historic buildings and skyscrapers. At 21, I bought my 1st property and have been investing in real estate ever since. I firmly believe thru steady, safe and conservative investing a one can obtain long term financial wealth. One day, I hope to develop the same buildings I help clients purchase.
This entry was posted in Home, Property Analysis and tagged , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s