View Full Version : 6 Unit 159 Pitt Almost ready to Sell, Private sale
well i dont know the price but am looking to buy what is the price
supesfan
01-05-2007, 10:52 AM
I guess to be interested in this place you must be a member of the mind readers society of North America, considering the fact that there is no mention of a selling price in either ad, looks like I will not be buying this even though I am in the market....
hiph0p
01-05-2007, 10:59 AM
my boyfriend was interested to buy but since we can't figure out how much it is we aren't allowed to i understand everything but not the price
nadia.m.
01-05-2007, 11:56 AM
cap rate means the capitalization rate - the income a property generates expressed as a percentage of the property's price .
In this case, the net income is $25,553.60. The seller is offering a 12% cap rate to buyers.
$25,553.60 divided by 12% is $212,946.66 -
I believe that's the asking price. Of course, you'll have to check with the seller.
that price is to high for that building. that is not the best area to be asking over 200000 for a bilding that is one and two bedroom apt. i amybe interested if the price comes down alot. but good luck in selling it
hiph0p
01-08-2007, 02:52 PM
whats the address my boyfriend would like to take a drive by and look
davis21
01-08-2007, 03:40 PM
whats the address my boyfriend would like to take a drive by and look
6 Unit 159 Pitt Almost ready to Sell, Private sale
thats the address from original post.
not a bad looking building lots of work done and is really starting to pick up.good building to get before the boom.
love the building dad bought off you M_M we move in on feb.1
devils_advocat1
01-10-2007, 02:41 PM
pm'd you M M
I feel bad for those locals who are about to miss the boat. Out of province and out of country buyers are taking all the good buildings, while locals are saying "ooohhhh thats tooo much!!..." Well guess what folks ...if you dont buy soon , you wont be able to afford to buy later.... the joke will be ... I could have bought that place for arorund 200 k...... 5-7 years from now you will be saying ...if I knew then What I know Now!!! The last building I sold was to a real estate Agent..... that person knew what they were doing..... they made money when they bought, and will retire from the profit !!!
Saint John Has the lowest priced Real Estate in the Country. Even Sussex Real estate costs more to buy than Saint John. End Of rant. :)
esdaigle
01-14-2007, 02:03 PM
I have a few questions about this property as I may be interested but want to make sure there are no other costs.
Why do you alot $1200 for heat if all the tenants pay heat & lights?
Where did the figure for the Municipal taxes come from? I see on the Services NB assessment site the taxes are less than that (a little over 3K)? Has there been a new assessment since you did all the renos?
Do the taxes reflect owner occupied?
Do you have a property disclosure statement?
Thanks in advance for the informaton.
ya the building is ass at 120 the price your asking is double
devils_advocat1
01-15-2007, 08:32 AM
im thinking the calculations above were done incorrectly...if you divide 25,553.60 by 12% your figure is almost 1k off should it not be $212,094.88?
An outside investor has bought this building for over 220 K.
I only mention this because I would like to see more local investors take advantage of the low priced real estate that is availlable in our area. 3 to 5 years form now, we will wish we had bought everything in sight. we are about to see appreciation levels rivaling that of Halifax and Toronto. Our " South Central penninsula" will be like Halifax were 1 bedroom aprtments rent for $850-$1000.
If you think I am wrong- just look at your own rents. Who among us has not seen their rent rise over the last 5 years? Todays average rents are over $100 more than they were 5 years ago, driven by the likes of Killam Properties and TransGlobe. I remember when Hazen Investments was thought to be crazy for asking 650 for a two bedroom on Queen square. Now try to find one at that price. Rents Drive sales price, which drive rents. Its a circle that will not end in the near future.
So to end my rant. Those of you who are thinking of buying, better get up and do something or you wont be able to afford it latter. Just my oppinion. Wait 5 years ...then call me a liar.. you wont be able to.